Payment scams manipulate victims into sending money to scammers. Some scammers even use generative AI—such as deepfakes—to make scams harder to detect. Payment scams can cause significant financial losses and are a growing problem in the United States. Join U.S. Government Accountability Office staff as they cover the characteristics of payment scams consumer face and the role of financial institutions—like banks and payment apps—in preventing, detecting, and recovering from scams.  

In the high-stakes world of forensic accounting, the line between a genuine mistake and a difference of professional opinion can be razor-thin. This session provides a critical examination of the common pitfalls and ethical challenges expert witnesses encounter when presenting forensic analysis and expert testimony. Participants will explore the nuanced landscape of expert witness responsibilities, including potential missteps in damage calculations, fraud assessments, and maintaining professional boundaries. Through real-world scenarios and expert insights, learn how to navigate complex expert testimony challenges, recognize potential errors, and maintain professional credibility while respecting the diverse perspectives within the forensic accounting field. 

Jeffrey Klein and Sacha Zadmehran of Hemming Morse will provide a 50-minute update on recent case law developments relevant to financial and forensic consulting. The session will discuss key rulings and legal trends, including those related to valuation, economic damages, forensic investigations, and intellectual property disputes. The discussion will highlight how these decisions may impact expert analysis and testimony, as well as considerations for practitioners navigating complex financial issues in litigation.

Through an in-depth case study analysis, explore how forensic accountants are serving as financial advisor to a receiver to unravel a complex $400 million fraud scheme involving unregistered pre-IPO securities sold to over 2,200 global investors. Walk through the investigation process step-by-step as we examine how a private equity firm allegedly misrepresented share ownership, concealed fees, and commingled investor funds. This case study will demonstrate the real-world challenges of reconstructing financial records across nine different funds with over $300M in assets, using incomplete and decentralized documentation. Participants will gain practical insights into gaining control of receivership assets, fraud detection methods, asset tracing techniques, and the multidisciplinary approach required when handling complex investment fraud cases. The session will conclude with key lessons learned and best practices for managing challenging receiverships and return value to impacted investors.