This is the second article in the series of CFAP experiences. This time it is not the case study resolved by any CFAP but it is the success story of a business started by a CFAP member.
A young woman CFAP started the venture called Fraudexpress in September’2011, after completion of her certification. She started her venture as the anti-fraud social media to help the forensic accountants network with each other. As an idea it was a wonderful model. Niche social networks are the dream of the advertisers. But to fund the development, you need deep pockets. Subsequently she converted her venture into an e-commerce company. Sometimes back i wanted to understand the trend of start-up companies in antifraud domain and i found this interesting start-up called fraudexpress on iStart and started interacting with them frequently.
This was probably the foremost idea of the social networking for the antifraud professionals but the idea was dropped due to the lack of funding as it often happens in India and today this has grown like an e-commerce website for the professionals in Asian region. Exactly one after the launch of Fraudexpress, i found that an American company called iovation, the Device Reputation Authority™ protecting online businesses from fraud and abuse, announced the launch of its Fraud Force Online Community. The virtual crime-fighting network is available exclusively to iovation clients and provides thousands of fraud professionals a private, virtual community to connect and collaborate in the fight against cybercrime.
Today, Fraudexpress has emerged as the E-commerce player in the antifraud domain. Fraudexpress is also the publisher of some of the interesting books for the students. In India most of the big players have ignored the importance of the students in the forensic accounting domain and Fraudexpress endeavors to reach out to student market and address their needs.
My all best wishes to the team of fraudexpress.
There is a need to fund the good activities in the anti-fraud domain. Certified Forensic Accounting Professionals is growing as a very strong community and through Fraudtoday we are going to popularize the efforts of all such exceptional forensic accountants throughout the world.
