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Trésorerie D'entreprise: Une Cible Alléchante Pour Les Fraudeurs

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Trésorerie D'entreprise: Une Cible Alléchante Pour Les Fraudeurs Trésorerie d’Entreprise: Une Cible Alléchante pour les Fraudeurs Du Ponzi à la Fraude au Président Alexis Courrier Swiss Treasurer Forum, Juin 2016 - Genève 1 Définition de la Fraude Selon le Dictionnaire (Larousse): En Résumé, les 4 conditions nécessaires et • «Acte malhonnête fait dans l'intention de tromper en suffisantes: contrevenant à la loi ou aux règlements» Selon la Loi : • Code Pénal Suisse - Article 146 (Escroquerie): «Celui Dissimulation qui, dans le dessein de se procurer ou de procurer à un tiers un enrichissement illégitime, aura astucieusement induit en erreur une personne par des affirmations fallacieuses ou par la dissimulation de faits vrais ou l’aura astucieusement confortée dans son erreur et aura de la sorte déterminé la victime à des actes préjudiciables à ses intérêts pécuniaires ou à ceux d’un tiers sera puni d’une peine privative de liberté de cinq Intention Illégal ans au plus ou d’une peine pécuniaire.» FRAUDE • Code Pénal Nigérian - Article 419 (419 scam): «Any person who by any false pretence, and with intent to defraud, obtains from any other person anything capable of being stolen, or induces any other person to deliver to any person anything capable of being stolen, is guilty of a felony, and is liable to imprisonment for three years.” Préjudice • CISA, Sarbanes-Oxley, Dodd-Frank, Securities Exchange Act, UK Bribery Act,… 2 Les Trésoriers face à la Fraude Source: Boston Consulting Group, bcg.perspectives 3 Fraudes Internes: L’Arbre de la Fraude Source: ACFE 4 Fraudes Externes: Diverses et Variées • Adoption Scams • Investment Fraud • Securities and Commodities Fraud • Advance Fee Schemes • Jury Duty Scam • Senior Citizen Fraud • Anti-Aging Product Fraud • Letter of Credit Fraud • Smishing • ATM Skimming • Lottery Scams • Social Security Card Fraud • Bankruptcy Fraud • Mass Marketing Fraud • Spear Phishing • Business E-mail Compromise • Mortgage Fraud • Sports Memorabilia Fraud • Corporate Fraud • Natural Disaster Fraud • Staged Auto Accident Fraud • Credit Card Fraud • Nigerian Letter or “419” Fraud • Stock Options Backdating • Financial Institution Fraud • Online Auction Fraud • Surrogacy Scam • Foreclosure Fraud • Online Auto Auction Fraud • Swatting • Funeral Fraud | Prepaid Funeral • Online Dating Scams • Sweepstakes Fraud Scams • Online Rental Housing Scheme • Telemarketing Fraud • Gameover Malware • Phishing • Telephone Denial of Service Fraud • Grandparent Scam • Ponzi Schemes • Timeshare Schemes • Health Care Fraud • Prime Bank Note Fraud • Vishing • Hedge Fund Fraud • Pump-and-Dump Stock Scheme • Work-at-Home Scams • House Stealing • Pyramid Schemes • Identity Theft • Ransomware • Insider Trading • Redemption/Strawman/Bond • Insurance Fraud Fraud Common Fraud Scams • Internet Fraud • Reverse Mortgage Scams • Internet Pharmacy Fraud • Scareware Investment-Related Scams Source: www.FBI.gov 5 Le Triangle de la Fraude (d’après Donald Cressey 1950) Motivation / Pression FRAUDEUR Opportunité Rationalisation Source: D. Cressey et ACFE 6 Les Fraudes aux Investissements : quelques cas réels 7 Vente Pyramidale et Système de Ponzi Pyramid Scheme Ponzi Scheme Earn high profits by making one payment and finding Earn high investment returns with little or no risk by simply others to become distributors of a product. The handing over your money; often the investment does not exist scheme typically does not involve a genuine product. or only a small percentage of incoming funds are actually Typical "hook" The purported product may not exist or it may be invested. "sold" only to other people who also become distributors. Must pay a one-time or recurring participation fee and No recruiting necessary to receive payments. Payments recruit new distributors to receive payments. Sometimes none. New participants may enter the Promoter generally interacts directly with all participants. Interaction with pyramid scheme at different levels. original promoter How the scheme Funds from new participants are used to pay recruiting Funds from new investors are used to pay purported returns works commissions to earlier participants. to earlier investors. Fast. An exponential increase in the number of May be relatively slow if existing participants reinvest money. Collapse participants is required at each level. Source: www.sec.gov 8 Caractéristiques de quelques cas Madoff Petters (Sir) Stanford Dreier •70/90-11Dec08 •1995-Sep08 •1995-17Feb09 •2002-2Dec08 •$20bn + $45bn •$3.65bn •$5.9bn •$380m •Hedge Fund & UCITS •ST promissory notes •Certificates of deposits •IOU Promissory notes •Market timing •Consumer electronic •11-13.75% p.a., •250-member law firm •Cash & T-bills goods conservative •Ontario Teacher’s •Broker-dealer •Big-Box retailers •Stanford International Pension Plan •Advisor to Hedge Funds •Lock box account Bank •20yr prison •NASDAQ Chairman •Polaroid •Bank of Antigua •150yr prison •Arrowhead, Lancelot, •Broker-dealer Palm Beach, •Investment adviser Stewardship •110yr prison •50yr prison 9 Madoff: Relevé de compte « controlé » 10 Le “marketing pitch” pour Stewardship Credit Arbitrage Fund, Ltd An established fund, in its 6th year, which has reported positive returns month on month since inception. “ Fund AUM: $428 million Annualised Standard Deviation: 0.72% Sharpe Ratio: 10.02 Annualized Return: 10.28% Stewardship Credit Arbitrage Fund’s objective is to provide investors with both a safe and stable return by investing in short-term asset-based securities. To enhance principal protection, virtually all securities are over collateralized. Partners Stewardship, since inception, has average approximately 10% annualised net return. The strategy Capital Capital uses multiple safeguards to lower the risk profile of the funds. Five year track record of delivering on their objectives, with no negative months. Kudos Stewardship focuses on short term, high quality, asset based securities used to finance inventory, accounts receivable or other assets. Asset-based securities fill a need for those businesses that wish to obtain financing quickly and efficiently for a variety of reasons. Source: Stewardship Credit Arbitrage Fund was founded by Marlon Quan in 2001. Marlon has over 23 years of finance/investment banking experience (over $8 billion in transactions completed). Marlon is a specialist in corporate management, strategic planning, debt and equity financing, and venture capital. Stewardship Investment Advisors, LLC is based in Greenwich, Connecticut with 23 employees working from these offices. Stewardship is affiliated to Acorn Capital Group who originates the loans. Acorn provides stringent due diligence with the auditors for Stewardship providing verifications on all transactions for the fund. In most cases, the fund will continue to hold the portfolio holdings but takes factors into consideration and will realise positions as required. ” 11 Principaux Red Flags Too good to be true Too good to be true Too good to be true Too good to be true Family business Feeder funds Broker dealer No S-1 registration Broker dealer Criminal history Big Commissions Lack of disclosure Front running Lied on education Small auditor Dreier Madoff No management fee Petters Bank accounts Family & Friends Multiple distributors No SEC registration Stanford Secretive No competitor Complex legal set up Small auditor Legal cases Secretive Complex legal set up Too big © US Department of Justice © Sherburne County Jail © US Marshals Service © The Wall Street Journal 12 Futures Brokers Refco Sentinel MF Global •2000-Oct05 •Aug07 •Oct11 •$3.65bn •$500m •$1.6bn •Aug05 IPO •Eric Bloom, Charles Mosley •Jon Corzine •Philip Bennett •70 customers •Ex-NJ Governor and Senator •$430m hidden bad debt •Short term cash management •38,000 customers •Receivable by entity controlled •CTA margin •Misleading statements by CEO •Registered FCM •Liquidity and financial controls •Liberty Corner •Segregated accounts •European sovereign debt •Bawag P.S.K. Group •125 Portfolio and Prime Portfolio •Registered FCM •$28 to $0.80 per share •House Portfolio •Segregated accounts •16yr prison •Collateral •Customer money to pay creditors •Levered high yield CDO •Not a fraud for regulators •Up to 20yr prison 13 Too Good to Be True: Les conseils de “Gordon Gekko” Source: Wall Street Journal ©20th Century Fox/Everett Collection ; Federal Bureau of Investigation 14 Les Fraudes aux Paiements : Le cas de la Fraude au Président 15 Tentatives de Fraudes Réalisées par téléphone et par email et basées sur des méthodes de «Social Engineering», les escroqueries aux Faux Ordres de Virement constituent la majorité des attaques. Source: Etude Euler Hermes DFCG 2015, «Fraude: conséquences & enjeux pour l’entreprise», mai 2015 16 Social Engineering – Définition «Les attaques d’ingénierie sociale (social engineering) utilisent la serviabilité, la bonne foi ou l’incertitude des personnes pour accéder par exemple à des données confidentielles ou conduire la victime à exécuter certaines actions spécifiques. A cet effet, l’attaquant exploite une faille humaine et gagne la confiance de son interlocuteur par divers artifices (usurpation d’identité, audace, intimidation, etc.) pour obtenir ce qu’il souhaite» «Social Engineering uses influence and persuasion to deceive people by convincing them that the social engineer is someone he is not, or by manipulation. As a result, the social engineer is able to take advantage of people to obtain information with or without the use of technology.» (Source: MELANI / Kevin Mitnick «The Art of Deception», 2002 ) 17 Usurpations d’identités les plus utilisées
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