Fourteen delegates from different companies across the South Pacific islands participated in a three-day workshop focused on fraud and corruption in Suva last week. The event, organized by the International Business and Economic Forum (IBE Forum), featured discussions and learning sessions covering a wide range of topics related to fraud, from traditional schemes such as money laundering and asset theft to emerging trends like electronic fraud and the exploitation of artificial intelligence for fraudulent activities.
Facilitator Simon Padgett emphasized that the workshop provided participants with valuable insights into various fraud and corruption types, along with techniques for prevention and investigation. Padgett, a forensic accountant from Forensic Integrity Consulting and Training, noted, “These individuals are here to understand how to investigate fraud in both their businesses and government departments, as well as learn preventative measures.”
The course included discussions on different investigative processes for fraud, such as examining fraudulent invoices, tender fraud, and payroll fraud. “We conduct training sessions featuring videos and case studies to guide the delegates,” he explained. Participants also received training on minimizing fraud risks within their organizations, including the use of fraud hotlines, development of fraud policies, and identification of bribery and corruption.
George Rounds, an accountant with Amalgamated Telecom Holdings (ATH), expressed his gratitude for attending the workshop. He remarked, “We have learned about the three main types of fraud, with financial statement fraud being the most significant.” Rounds mentioned that his attendance was particularly relevant as he recently joined the risk team and the training encompassed broader topics, including cybersecurity and the impact of AI on the economy.
Leave a comment