A Case Study on Banking Industry Executive Level Financial Fraud Scenario: A large accounting firm was hired to audit certain activities related to loans to individuals on the Board of Directors of a medium size, publicly traded bank. During the Audit, the auditors needed to examine several computer systems used by certain Bank employees as well as by certain Board Members. GDF’s digital forensic examiners were immediately dispatched and sent in to arrange for the forensic analysis of the computer systems and to to search for corroborating evidence in support of the audit team’s suspicions and findings.
Background Information: In the previous two years, the Bank had gone through a series of transitions, culminating in a new Board of Directors and, because of new regulations in the financial industry, an independent Auditing Committee was appointed. The Auditing Committee charged certain officers of the Bank with engaging in suspect activities related to particular Bank expenses and loans that were either hidden or “lost” from the purview of the normal Bank’s accounting practices..
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