Fraud Detection and Investigation: A Practical Approach in Mitigating Business Risks

Description

Corporate fraud is a persistent fact of business life, affecting businesses of all sizes and across all industries. Technology and processes put in place to prevent fraud will come to nought if we do not take into account collusion. Syndicated and insider fraud offenders are aware of the measures employed to detect them and can devise counter measures to circumvent detection. You need special fraud detection and investigation techniques to prevent such fraud.

Many investigations adopting conventional methods are ineffective against syndicated and insider fraud. Technology advances allow fraudsters to capitalize on providing all sorts of fake documents and information resulting in difficulty of authentication and verification of information provided. However, the innovative use of the concept of 5 Pistons of an investigation© will allow you to do so effectively.

An effective Fraud Investigation System is necessary to ensure that an independent and proper investigation is conducted. This workshop will provide the process and best practices culled from over 30 years of diverse investigation experience. Practical application on real past fraud cases will be used to allow participants to apply the skills and knowledge taught.

Participants will be introduced to the various methods employed by leading practitioners to establish truthful information from interviewing subjects. The workshop provides the effectiveness of adopting the right strategy and acquiring the necessary skills & knowledge including the legal requirements in conducting interviews and recording statements.

Programme Outline

FRAUD DETECTION FUNDAMENTALS

• Factors critical to an effective whistle blower program
• Fraud profile and pattern analysis
• Screening & monitoring system to detect fraud
• Fraud detection techniques like GHOST Protocol© (invisible measures with visible results) detects counter measures to keep you one step ahead

Analysis of recent high profile fraud cases will be discussed to highlight operational lapses for participants to adopt the critical lessons learned including fraud detection techniques identified from real cases collected and archived over 10 years.

FRAUD INVESTIGATION METHODS - 5 PISTONS

• Interview piston: Forensic Interview Techniques - FIT
• Forensic piston: Identifying suspect forged documents & digital evidence
• Intelligence piston: Information network & covert operations
• Industry/Insider Knowledge piston: Latest Fraud pattern and profile
• Technology piston: Supporting the above pistons (e.g. surveillance tools) 

FORENSIC INTERVIEW TECHNIQUES (FIT)

• The 3P Strategy© – Planning, Preparation & Presentation
• Effective interview structure and process
• Question techniques – formulation & design
• Legal issues including admissibility of statements
• Practical application with interview checklist

DETECTING DECEPTION INDICATORS (LIES) DURING THE INTERVIEW

• Physiological & Psychological factors
• Micro facial expressions
• Verbal, Non-verbal & Behavioural analysis
• 5C lie detection technique©
• Practical hands-on application at various stages

Relevant local fraud cases will be used to allow participants to apply the techniques taught in detecting deception.

This workshop qualifies for 2.0 CPE hours in Ethics and Professionalism (Category 2) and 5.0 CPE hours in "Other Relevant Expertise" for Public Accountants.

What you will learn

• Have a practical understanding of how fraud is detected in real life
• Learn practical and proven methods to detect fraudulent activities that could bypass preventive measures
• Have an appreciation and practical understanding of proven fraud investigation techniques and methods

Target Audience

• Forensic Accountants
• Accountants in the Civil Service
• Investigators
• External and Internal Auditors
• HR Professionals
• Business Managers and Directors
• Anyone who would like to gain more insights on the practical approaches to detect and investigate fraud

Expert Speaker

Jeffery Ang

Jeffrey was with the Commercial Affairs Department ( CAD ) and Criminal Investigation Department (CID) , and had investigated multiple fraud cases and dealt with major syndicates. He also played a major role in the setting up of the new School of Criminal Investigation for CID in 2001 and the development of the various Investigation courses. He was presented with two Police Commendations and two Director CID Awards.

Jeffrey is engaged by Civil Service College to provide the Investigative Interview, Specialist Investigation and Putting up Investigation Report courses for all Government agencies, receiving outstanding feedback from course participants. He also provides Forensic Interview Techniques and Fraud Detection & Forensic Investigation courses for MNCs and government agencies, both locally and overseas.

Jeffrey was the Group Head of Loss Prevention for Sentosa Leisure Group & SDC for 5 years, overseeing the prosecution, enforcement, security and investigation functions. He is the author of 3 books on conducting Forensic Interviews & Fraud Investigation, and is able to blend practical aspects into his training methodology to allow effective transfer of real life knowledge to participants.