Since COVID we’ve seen a significant shift in the way organisations function with more and more people working from home.
Fraud occurs when the right opportunity, time and motivation occurs – the fraud Triangle – which has increased through this shift in location.
Without oversight employees may find that that they can get away with non-compliant activities like payroll fraud, ghost employees/vendors or shell companies.
Over the last twenty years, fraud has cost the Australian economy $60B in aggregate losses so understanding the risk factors and ways to prevent fraud from occurring is crucial to businesses bottom line.
In this 45-minute session, hear from Kathleen Clough, Senior Manager at ASIC. She will cover:
- What are the risk factors for employee fraud schemes
- What are the signs that employees are conducting a fraud scheme
- What to do if you suspect employee fraud – both for both leaders and everyday employees/team members
- What actions should be taken to mitigate the risk of fraud – e.g. chain of custody procedures, digital footprint monitoring of employee behaviour; actions from a leaders’ perspective and a team members’ perspective.
Think of any examples within your own organisation that you have questions about regarding the detection and prevention of fraud to ask Kathleen.
The WiBF webinar series provides an opportunity for members to build their skills and grow their knowledge in the ever-evolving fraud landscape. It aims to develop members capacity to understand the risk factors that cause fraud so they can be effectively mitigated.
The risk factors for employee fraud schemes,the signs that employees are conducting fraud scheme, what to do if you suspect employee fraud – both for both leaders and everyday employees/team members and what actions should be taken to mitigate the risk of fraud – e.g. chain of custody procedures, digital footprint monitoring of employee behaviour; actions from a leaders’ perspective and a team members’ perspective.
Kathleen Clough is the Senior Manager of ASIC’s Forensic Accounting Service team—leading a national team of forensic investigators.
Kathleen has experience as a senior forensic accountant at the NSW Independent Commission Against Corruption (ICAC) investigating an array of white-collar crimes from multi-million dollars procurement fraud through to political donations scams
In her role as forensic accountant at the Fraud and Cybercrime Squad, NSW Police Force she investigated crimes ranging from suspected insurance fraud, money laundering, ponzi schemes, through to identifying proceeds of crime
Kathleen has lectured at two Australian universities, teaching post-graduate financial crime courses and CAANZ Forensic Accounting Specialisation course.
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