It’s A Risky World: New MBA Program To Focus On Fraud

From Daytona, Florida: The second week of November was International Fraud Awareness Week, which is dedicated to highlighting the prevalence and impact of fraud in all its forms. Unfortunately, we do not have to look far to see flagrant examples of corruption, misappropriation, identity theft, insider trading, money laundering, counterfeiting and market manipulation.

Protecting against fraud is a foundational part of UCF’s new MBA program with an emphasis on risk management and insurance. Offered in Daytona Beach, the epicenter of Florida’s insurance industry, this graduate program will combine 10 advanced business courses with three electives focused on data analytics, risk management and insurance. Beginning Fall 2024, students will learn to identify various types of risk; analyze, interpret and evaluate insurance policies; and conduct in-depth business analysis of various industries and competitors.

In 2023, there have been egregious cases of fraud in healthcare, finance, real estate and insurance — highlighting the critical need for UCF’s new program. The Department of Justice, for example, recently announced results of a two-week blitz to crack down on illegal prescriptions, inflated Medicare reimbursements and fraudulent health insurance claims. The disruption of a nationally coordinated deceptive scheme resulted in 78 defendants facing federal and state charges in 16 states; 90 Medicare and Medicaid revocations; seizures of millions of dollars in cash, vehicles and real estate; and nearly $2.5 billion in total fraud.

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The University of Texas System Board of Regents. Photo by Mikala Compton, Austin-American Statesman

University of Texas regents approve new McCombs building

From Austin, Texas: The University of Texas Red McCombs Business School is closer to getting a new home on campus after the UT System Board of Regents agreed to advance planning for a $425 million facility to house the growing program.

The proposed 10-story building would be built next to Robert B. Rowling Hall, UT’s graduate business facility, and will include an underground parking area, classrooms, faculty and administrative offices, student collaborative spaces, a career center and an event area.

Lillian Mills, the dean of the McCombs School of Business, said she is thrilled by the board.

“In conjunction with Rowling Hall and our distinguished AT&T Executive Education Conference Center and Hotel, the Texas McCombs business enclave is poised to become a cornerstone of the UT campus,” Mills wrote in an email Friday to the American-Statesman. “It will provide a dynamic environment for academic growth and foster vibrant discussions on innovation and commerce in Austin, propelling us towards a collective mission to positively impact the world.”

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ESCP Business School works with Better Futures+ to assess carbon footprint on London campus

From London: Financial Times-ranked ESCP Business School’s London Campus has joined the Better Futures+ initiative and successfully calculated its carbon footprint. This is part of the school’s effort to lower its emissions and support the London Borough of Camden in achieving its net zero goal by 2030.

In September 2022, ESCP Business School launched the carbon emissions calculation project to establish its baseline in all of its five European campuses, from which it will create a reduction strategy to halve its emissions by 2030.

In London, ESCP set up the Social Impact and Sustainability Committee, which oversees the project delivered by the ESCP London Green Office and the Lighthouse student society. It gathered the data across departments and transferred the final data into the Climate Essentials carbon management tool. It is also currently having an external audit performed to verify this data and the other campuses.

Read more about B-schools’ carbon footprint here. Read more about ESCP’s efforts here.

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