By Journey, UncategorizedNo Comments

As we move into the Christmas season and 2021 approaches and we learn to turn the corner against the pandemic, we can take advantage of the disruption to also remove the rising cost of fraud. It needs a bit of a reset, a fresh mindset, with all hands-on deck!

Stay on Target:  Beat the 2021 Covid Credit Crunch and remove the cost of fraud

A fresh study this month from the University of Portsmouth puts the cost of fraud in 2019 at 6.05% of world GDP.  Academic studies aside, all the indications in 2020 are that cost on society is rising as the criminals get more desperate.  There is nothing like a crisis to galvanise us into action!

Also, we are delighted to read an article from the Association of Certified Fraud Examiners this month, which educates specialist fraud professionals, hinting at what we believe is a U-Turn, saying “Empowering employees with the knowledge and awareness of fraud in the workplace is key…”.

The failure over the past few decades to curtail fraud, gives us a chance to learn from mistakes, rethink everything, and not lick our wounds!  In our view the fresh 2021 mindset should include:

  • A collective effort in organisations and society to embody the precrime mentality to “see, say and sort out” fraud, saving costs and avoiding trouble down the line
  • Taking charge of technology and data to get better insights without the need to travel all the time, and without letting technology take over
  • Focussing on removing waste now and those essential costs which will navigate us out of the crisis and build a better, safer, and stronger world for everyone.

Our mantra “everyone is a fraud detective” is finally gathering momentum to shape the financially resilient and robust organisations for the future.

7th December Live-Online 09.00–09.50 and 17.00-17.50 (Managing money in the Crisis)

Take the first step, have your say, and hear the experiences of 3 leading experts in their fields:  Steven Swientozielskyj (Finance and Business Partnering Thought-Leader and Centenary Year President of the Chartered Institute of Management Accountants), John Wallhoff (Leading Fraud Data Scientist) and Nigel Iyer (International Fraud Detective for 30 years).

You can register here for this 50 minute Live-Online event.

#B4events – Protecting Money in a Crisis

By Event

Aspiring Fraud Detectives Community
Live-Online Roundtable

7th December 2020
(09.00 – 09.50 and 17.00 – 17.50 Central European Time)

What you will get out of this

  •  How to develop financial resilience at work
  • Leveraging technology
  • Practical case studies

A (free) live and interactive event where you can have your say and hear the experiences of 3 leading experts in their field:  Steven Swientozielskyj (Finance and Business Partnering Thought-Leader and former President of the Chartered Institute of Management Accountants), John Wallhoff (Leading Fraud Data Scientist) and Nigel Iyer (International Fraud Detective for the past 30 years).

The last 15 minutes will be an  “Ask us Anything” and creative brainstorming session involving all of us.  Afterwards all participants will receive Steve’s “Keep it Simple” model to be a successful business partner and a selection of Nigel and John’s most successful recipes to detect and eradicate fraud and corruption before it spreads.


Register for the event

#9 Don’t Panic over fraud!

By Journey

“One of the smartest ways to save money is to stop losing it resonates more than ever today.  As we all navigate a pandemic which we will overcome, focussing on those costs which are essential to growth and survival is more important than ever.  And there is no better time to calmly remove the wasteful costs of fraud.

Eliminate the wasteful costs of fraud now (panicking is not productive)

All over the world we are hearing that Financial Crime is greater than ever…no surprise given that criminals and cyber-fraudsters, and also many suppliers, middlemen, customer etc, are desperate for cash.  But nobody needs to feel lost or caught off guard.

Three smart things which every organisation can do (to remove panic about fraud!)

  1. Step up internal efforts to identify early warning signs where your organisation is losing money to fraudsters as well as greedy suppliers, middlemen, customers…
  2. Motivate and educate everybody around you in your organisation to help to guard against and spot attempted fraud before it spreads…and save money now
  3. Revolutionise the way fraud is investigated by taking charge internally, look for effective and fast resolutions and avoid investigations which spin out of control

Whether you are a board member, manager or “one of the people”, everyone has a valuable part to play in defending our own organisations against the outside threat of fraud. Our own hands-on experiences over the last few months proves that this more mindful approach to dealing with unethical behaviour really works, is more sustainable- and brings significant value back to the organisation.

Join the Aspiring Fraud Detectives community!

Participate in an Aspiring Fraud Detectives workshop on 7th December 2020, have your say and hear the experiences of leading experts in their field including Steve Swientozielskyj, Centenary Year President of The Chartered Institute of Management Accountants. You can register here for this 50 minute Live-Online event.

Join an event where B4 is contributing to International Fraud Week 2020 such as the Oxford Fraud Conference (12th November), and “Fraud Detection in the Age of AI” (13th November) and “How Everyone Can be a Successful Fraud Detective” (18th November).

#8 We’re all Fraud Data Scientists & Detectives!

By Journey

It’s everyone´s job to staying alert and curious, to spot and stop fraud before it spreads.  The digital traces of people trying to defraud us and our organisations often stare us in the face, and so spotting fraud can be easier than you realise.

So why wait for a whistleblower when we can “deal with the devil in the data”?

When we disregard fraudulent mails which want us do something foolish, when we home in on strange entries on a bank or credit card statement, or just spot something which gives us “a bad feeling” in the money flows of an organisation, we are essentially engaging in fraud data-science.  Add some PreCrime algorithms, a bit of augmented realty and a pinch of machine intelligence and we enter a new age of Fraud Detection. At last we can move on from just waiting for a whistleblower to turn up, or worse still, looking for someone to blame for not finding fraud before it found us.

Why believe us? Because after 25 years of using analytics and algorithms to find fraud, our success rate started to dramatically increase when we realised three truths1. Everyone can be a Fraud Detective 2. Sharing the golden algorithms was key to our clients eradicating the cost and risk of fraud 3. Small data is beautiful to follow the money in finding fraud quickly!

So what sort of Fraud Detective and Data Scientist are you?

Watch this 5 minute taste of PreCrime set to Franz Schubert. How many frauds can you see lurking in the data?

Tell one of us!




#7 Fraud PreCrime – Insights from Anywhere

By Journey

It is not pleasant to be cheated or have an organisation you care about defrauded – especially at a time we need to act to use our resources wisely. Tighter budgets and restrictions on travel are compelling us to be smarter and more innovative than ever…doing more with less. Prior to COVID we had taken great strides to merge human intelligence with smart technology to solve everyday problems. Now is the time to combine smart thinking with technology to eradicate the unnecessary waste caused by fraud and corruption before it is too late.

Instant Insights with Fraud PreCrime.

If you are taking care of the money, being cheated by a supplier, customer, a business partner or even an employee is irritating, to say the least, and often hideously costly.  We pray that it does not happen to us, that someone will detect it, or that if someone is cheating us without us knowing, it will not be too painful.  And when it is discovered (which in our experience is all too rare) it is usually too late to stop it before it spreads.

In deploying our own “B4” PreCrime algorithms and solution with our customers to help detect and deal with hundreds of “early frauds”, we have learnt some interesting truths which have crystallised into guiding principles for “PreCrime for Fraud”:

1. If you don´t believe fraud happens you will never find it.
2. Stay focussed – don´t get lost in the fog of too much data and information.
3. Stick to following where the money comes from and where it goes (as far as you can).
4. We can find out what is happening in much of the world without having to travel.
5. Everybody can find fraud early and resolve it if they want to. Fraud Detective is not a protected title. So, do it yourself rather than thinking someone will do it for you.

PreCrime for fraud is here, and those who take advantage of it, manage to save vast amounts of un-essential costs, and avoid a lot of pain, blame and aggravation….immediate insight without jumping on a plane

PreCrime Training (the Fraud Detective Collection) goes live

We mean what we say.  Everyone can be a Fraud Detective.  We have now launched B4’s Fraud Detective Collection, where Fraud Detective 101 is the first course in a series of 7.  Here´s a one-minute video to get a feel for the virtual course.

Use this link or https://www.youtube.com/watch?v=UHvCtClodDw&feature=youtu.be

#6 Ready, Steady, AIM…at Fraud and Corruption

By Journey

When resources are stretched, it’s not productive to argue about whose fault it was that frauds were missed and not picked up sooner. A healthier aim would be to work together to stop fraud at the door…and not focus on blame.

Aiming to always keep the cost of fraud in our sights.

Immunisation against fraud and early detection is the transformational change we need now to preserve cash, and focus on those essential costs which contribute to healthier and more vibrant organisations in the future. We could ask ourselves:

  • Does our organisation sit back and wait for the eventual whistleblower, or is everyone trained to spot suppliers, customers, management, partners and employees who are misbehaving and reel them in before things spread?
  • Do we and our management feel that if the external auditors did not discover any fraud this year, then the future is rosy and fraud-free?
  • If serious fraud is discovered which internal positions should get the blame? (note: this could be a trick question!)

Getting to grips with these kinds of questions will give us a feeling for the mood inside our organisations, and if you wish, how to transform from an everyday compliant organisation to motivated teams which really keep fraud out!  Keep it simple: Practical awareness training, a recognition that fraud happens all the time, and a mindset to detect fraud early will save organisations huge amounts of money. The next stage could be to use pre-crime tools to follow the money combined with augmented reality and accessible artificial intelligence.

Alongside our B4 Pre-Crime solution we have developed and tested our “AIM 42 tool” which consists of 42 key questions to help organisations identify where and how to get the maximum payback from their essential cost/ “remove fraud” initiatives.

ICAEW Event July 3rd – Insights of a Fraud Detective

“How to Find Fraud Early” is a 1-hour webinar aimed at passionate accountants and auditors who want to make a difference.  Nigel Iyer has wanted to hold this course for the Institute of Chartered Accountants in England and Wales (the ICAEW) ever since he joined three decades ago.  Now he has finally been given the chance.  This interactive webinar is open to non-members too:

Register at ICAEW using this link or

#5 We are all Fraud Detectives!

By Journey

Nobody likes being cheated!  And when budgets are tight, everyone needs to use the resources they have sensibly. So, to protect our own assets and the organisations and people we care about, we should “awaken the fraud detective” that lies in each and every one of us.

Introducing Ms Sophy and what it takes to be like her

One of the appeals of Miss Marple…Agatha Christie’s kind and stylish detective with a razor-sharp mind for solving crimes…is that we can all be like her. Ms Sophy, our first fraud detective avatar was created in a similar way. So…what does it take to be a fraud detective?

During the last 20 years we have worked with hundreds of people who were either born to spot fraud or were initially sceptical.  And almost without exception every one of them would qualify as a fraud detective. We believe that we are all born with an instinct to spot an offer that’s too good to be true, a wolf in sheep’s clothing, dirty money and dodgy dealings.  We just need to remind ourselves that the world is still far from being fraud free, apply attention to detail, and maintain our belief in ourselves!  That’s why Ms Sophy is arguably the most important team member of B4 Investigate because she has it all…in bucketloads!  You will meet Sophy in our Fraud Detective Training, in coaching sessions, and as your assistant in our rapidly evolving B4 Pre-Crime platform. Sophy is female character but could just as well be male…being a fraud detective is not a gender issue. Have a listen to 45 seconds of Sophy here *.


Podcast interview with Nigel

The Confederation of Swedish Enterprise (Svenskt Näringsliv) has just released a podcast called “Think Like a Fraud Detective”, a short interview in English between renowned security expert Karl Lallerstedt and B4’s Nigel Iyer.  https://soundcloud.com/user-317900189/international-fraud-expert-nigel-iyer-in-english