Fourteen delegates from various companies across the South Pacific islands participated in a three-day workshop focused on fraud and corruption, held in Suva last week. The event was organized by the International Business and Economic Forum (IBE Forum), where attendees engaged in discussions and learning about numerous aspects of fraud and corruption. This included traditional methods such as money laundering, asset theft, and payroll fraud, as well as modern trends like electronic fraud and the utilization of artificial intelligence in fraudulent activities.
Facilitator Simon Padgett stated that the workshop provided participants with insights into various fraud and corruption types, along with prevention and investigation techniques. “These individuals are here to gain knowledge on investigating fraud and corruption within their businesses and government departments, as well as how to prevent it,” said Padgett, a forensic accountant with Forensic Integrity Consulting and Training.
He elaborated on different investigation processes covered during the training, which included analyzing deceptive invoices, tender fraud, sales fraud, and payroll fraud. “We conduct training sessions that feature videos for the delegates and work through case studies,” he explained.
The attendees also received guidance on minimizing fraud risk in their organizations and conducting fraud risk assessments. “We discussed fraud hotlines, which serve as whistleblower channels, along with fraud policies, codes of conduct, and identifying bribery and corruption within organizations,” added Padgett.
George Rounds, an accountant from Amalgamated Telecom Holdings (ATH), expressed his gratitude for attending the significant forum. “So far, we’ve learned about the three major types of fraud, with financial statement fraud and corruption being the most prevalent,” he noted. Rounds mentioned that he was sent to the workshop to better understand risk and corruption due to his recent involvement with the risk team. He highlighted that the training also encompassed topics beyond fraud, including cybersecurity and the impact of artificial intelligence on the economy.
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