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), covered a wide range of topics related to fraud and corruption. Participants discussed traditional fraud methods like money laundering, asset theft, and payroll fraud, as well as emerging trends such as electronic fraud and the exploitation of artificial intelligence for fraudulent activities.
Simon Padgett, the course facilitator and a forensic accountant from Forensic Integrity Consulting and Training, highlighted that the workshop provided valuable insights into various types of fraud and corruption, along with effective prevention and investigation strategies. “These participants are eager to learn how to investigate fraud and corruption within their businesses and government departments and how to avert such issues,” Padgett stated.
The training included discussions on different investigative processes, including examining deceptive invoices, tender fraud, sales fraud, and payroll fraud. “We conduct training sessions, show videos to delegates, and analyze case studies,” he added.
The participants were also educated on measures to mitigate fraud risks in their organizations, including the establishment of fraud hotlines, development of fraud policies, codes of conduct, and understanding bribery and corruption indicators.
George Rounds, an accountant from Amalgamated Telecom Holdings (ATH), expressed gratitude for the opportunity to attend the significant forum. “We have explored three major types of fraud, with financial statement fraud and corruption being the most prominent,” he noted. Rounds mentioned he attended the workshop to enhance his understanding of risk and corruption, especially after being introduced to the risk team recently.
He added that the training extended beyond fraud, addressing cybersecurity issues and the role of AI in the economy.
Leave a comment