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FRAUD MANAGEMENT

Disguised Fraud

This is a case that involved a high level fraudster. The fraudster was an IT person who came in as a cleaner in the company. He was soon promoted to an office assistant because he was very good. The employer did not know that this person was a fraudster. The recruit wrote a script that continuously sliced money from the company bank account to his account.

During an investigation, you need to have suspects. To do something like this, someone could have been very good because he was calling it ‘Lake Site Logger.’ The way the script had been written, the work it was doing was so advanced. Forensics investigators did not see any kind of person with such skills.

They had to carry out a thorough employee background check. The results shocked top management including the senior Human Resources manager. The person perceived as an office cleaner was an IT graduate from a University in India.

In the employee files, the applicant did not indicate this academic award. In fact his file had Uganda Certificate of Education and Primary Leaving Examination papers. Investigators focused all the energies here.

The laptop was taken for a forensics analysis. The investigators realized he got some people from India who were brilliant and did the job online. He told them what he wanted and they built a platform to execute. He would insert a flash disk into the Head of IT’s computer. The Lake Site Logger program would automatically withdraw money from the company account to the fraudster’s. The fraudster would share the money with the friends in India. But you can’t achieve financial freedom by stealing. The fraudster was sentenced to 20 years in prison and his career ended in a misery.

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