|WATCH: Brian Fox of Confirmation.com Talks About Exposing & Preventing Brokerage Fraud on MarketsWiki.tv (September 2012)|
|Key People||Chris Schellhorn, CEO|
Confirmation.com is a web-based audit confirmation service. It is a Preferred Provider for the American Institute of Certified Public Accountants (AICPA) and is endorsed by the American Bankers Association (ABA). It provides accounts payable and accounts receivable confirmations, and more than 30 types of bank confirmations.
Confirmation.com helped to expose the multi-year $215 million fraud perpetrated by Russell Wasendorf Sr., the owner of PFGBest and Peregrine Financial Group. PFGBest received a regulatory mandate to use the confirmation service rather than rely on paper confirmations, and 24 hours later the fraud was discovered. 
John Lothian News Interviews
Confirmations: Plugging Into Electronic Confirmations
Capital Confirmation, which runs Confirmation.com, is credited with helping to unveil the massive $215 million fraud at Peregrine Financial Group (PFG) in July 2012. The web-based audit confirmation service was hired by the National Futures Association (NFA) last year and applied its technology to PFG. After forcing PFG to use the electronic confirmation service, rather than use the traditional paper-based auditing system, PFG’s fraud was discovered by the NFA.
Brian Fox, founder and chief marketing officer of Capital Confirmation, explains how this straightforward technology of providing a third party confirmation service, can help protect customer funds and restore customer faith in the audit system used in the futures industry. Published Feb. 19, 2013. Watch at MarketsWiki.tv
Brian Fox of Confirmation.com Talks About Exposing & Preventing Brokerage Fraud
Brian Fox, founder and chief marketing officer of Confirmation.com, found his firm in the midst of one of the largest frauds in futures history several months ago. Hired by the National Futures Association to electronically confirm customer account balances that futures brokers report with the actual balances held at their banks, Confirmation.com helped expose the PFGBest fraud. Brian Fox spoke with John Lothian News editor-in-chief Jim Kharouf about the case, how the confirmation system works and just how far electronic confirmations in the futures brokerage space can go to prevent fraud. Published September 28, 2012.  Watch at MarketsWiki.tv
Products and Services
Chris Schellhorn, CEO
Brian Fox, founder and chief marketing officer
- ↑ Confirmation.com Uncovers $200 Million Peregrine Financial Group Fraud. Confirmation.com.
- ↑ Confirmations: Plugging Into Electronic Confirmations. MarketsWiki.tv.
- ↑ Brian Fox of Confirmation.com Talks About Exposing & Preventing Brokerage Fraud. MarketsWiki.tv.