“I receive whistleblower reports but it is difficult to trace evidence”
“My skillsets are not in sync with the pace and creativity of fraud being perpetuated”
“It’s hard to keep up with ever growing cybersecurity incidents happening globally”
Technology has opened the door to new and more complex forms of fraud.
Are you equipped with the Latest Techniques & Tools to Combat Today’s Fraudsters?
Join this 2-day practical workshop to acquire newest strategies and best practices to effectively prevent, detect and investigate fraud. Be updated with recent trends and new fraud schemes including cybercrime, cryptocurrencies, procurement fraud, bribery, corruption and more. Discover how to build a robust culture, conduct risk assessments, and design effective controls to prevent fraud. Learn how to leverage technologies and data analytics to detect and monitor red flags. Find out how to use e-discovery and conduct investigative interviews to successfully collect evidence to prove fraud.
- Mapping of risks for different businesses, locations, functions
- Analysing how to improve a risk assessment programme
- Evaluating the effectiveness of your whistleblowing system
- Determining data analytics tests to detect anomalies
- Setting scope of investigation based on whistleblower letters
- Planning a cybersecurity incidence response
- Practice your investigative interviewing skills
Benefits of Attending
- Find out the top fraud concealment method and most common initial fraud detection
- Takeaway useful resources to stay on top of new challenges and emerging fraud risks
- Pick up practical tips to engage senior leadership and employees to build the right culture
- Design effective procurement, direct sales, and sales channel management processes
- Discover the pitfalls to avoid when conducting due diligence on suppliers and other third parties
- Identify technologies in the control environment to combat fraud (transaction monitoring, email monitoring, periodic analysis, etc.)
- Learn how to create allies in the business to fight fraud with the 3 lines of defence model
- Apply data analytics methods and avoid common pitfalls for effective fraud detection
- Determine the scope of an investigation and learn how to identify and access relevant data
- Hear the do’s and don’ts in dealing with electronic evidence, data privacy and privilege issues
- Assess how to approach the review, search terms vs. technology assisted review
- Acquire interview planning techniques at different stages of the investigation
- Examine how to deal with uncooperative interviewees and signs to look for
Colum applies three decades of financial, commercial, and forensic accounting experience in assisting clients to better protect against, respond to, and recover from challenging situations that have regulatory, reputational, or financial implications such as fraud, corruption, data breach, money laundering and sanctions, and complex commercial disputes.
Based in Asia for 25 years and a former partner at a global accounting firm, he then managed a group of China-focused companies, before playing a key role in establishing and developing Kroll’s financial investigations practice in Asia.
Colum has had considerable fraud-related experience – covering the full range of prevention, detection and response, and in operational, management and advisory roles – and has a degree with First Class Honors in economics from the University of Leeds in England and is a fellow of both the Institute of Chartered Accountants in England and Wales and the Hong Kong Institute of Certified Public Accountants.
Who Should Attend
Senior level executives responsible for Internal Audit, Finance, Fraud Investigation, Compliance, Risk Management, Legal
Session 1: Recent Trends and New Fraud Schemes
Age old problems
- Procurement fraud
- Financial statement fraud
- Bribery and Corruption
- Misappropriation of assets
- Polling: Most common fraud scheme; median loss of fraud scheme; top fraud concealment method; most common initial fraud detection
New challenges and emerging risks
- Sanctions exposure
- Useful resources
- Discussion: Resources invested in combating cybercrimes
Session 2: Getting the Right Culture
- Building the right environment in senior team
- Discussion: Practical tips for engaging senior leadership in promoting the right culture
- Policies and procedures
- Employee training and onboarding
- Discussion: Practical tips for training and engagement with colleagues
Session 3: Conducting Risk Assessments
- Designing effective controls
- Exercise: Mapping of risks for different businesses, locations and functions
- Designing an effective procurement process
- Designing effective direct sales and sales channel management processes
- Due diligence on suppliers and other third parties
- Exercise: Improving a risk assessment programme
Session 4: Bribery and Corruption
- Key risk areas
- Discussion: Business specific risks to your organisation
Monitoring, Detection and Testing
Session 5: Continuous Monitoring
- Discussion: Technologies in the control environment to combat fraud (transaction monitoring, email monitoring, periodic analysis, etc.)
- Testing controls
- Monitoring of third parties
- Responding to changes in the business
- Working with allies in the business i.e. whistleblower hotline
- Polling: Evaluating the effectiveness of existing whistleblowing systems
- Discussion: Elements of an effective whistleblowing system
Session 6: Creating Allies in the Business
- 3 lines of defence model
- Who are risk owners?
- How can they work effectively and collaboratively?
- What is the role of compliance in this?
- Creating reporting lines
- Staying front of mind
- 3 lines of defence model
Session 7: Data Analytics
- When to use data analytics?
- Limits of data analytics
- What data can be used?—Internal/external
- Common pitfalls
- Exercise: Data analytics tests to detect red flags
Session 8: Investigation Kick-off
- Managing workflow, to investigate or not to investigate?
- Determining the scope of an investigation
- Identifying and accessing relevant data
- Exercise: Setting scope of investigation based on whistleblower letters
- Exercise: Cybersecurity incidence response
Session 9: E-discovery
- Selecting data within scope, getting control of devices, email backups
- How to approach the review, search terms vs. technology assisted review
- Using structured data
- Tips for getting the most of email review
- Combining different sources of data – SHARP
- Discussion: Do’s and don’ts in dealing with electronic evidence, data privacy and privilege issues
Session 10: Conducting Interviews
- When to conduct interviews?
- Interview planning at different stages of the investigation
- How to deal with uncooperative interviewees?
- What signs to look for?
- Interview practice and video clips
Session 11: Reporting
- Evaluation of evidence
- What steps should be taken to make sure it doesn’t happen again?