This chapter introduces a framework for identifying and selecting companies that are likely to be engaging in fraudulent activities. It emphasizes a proactive approach to detecting fraud, suggesting investors look for subtle clues and inconsistencies in publicly available information. The chapter introduces the Corporate Fraud Risk Index (CFRI), a rudimentary tool designed to prioritize the companies with the highest potential of Corporate Fraud Exposure Capital Gains to be realized. The CFRI considers factors like the probability of fraud, the portion of market capitalization affected by fraudulent activities, and the cost and feasibility of investigating and shorting the company. The chapter also discusses the role of human judgment and artificial intelligence in fraud detection, and explores the use of tips, rumors, and social media as sources of information. It concludes by emphasizing the need for a systematic and tailored approach to building a fraud detection framework.