fraud

Expert Speak: Harshit Baxi, Firstsource Solutions

Course Duration: 43 minutes
Course Points: 40

This presentation by Harshit Baxi, Global Head – Internal Audit & Risk Management, Firstsource Solutions took place at the conference AML/CFT Controls in the Insurance Sector, held virtually from September 28-29, 2021.

Conversations: Dr. J. Michael Skiba, International Financial Crime Expert

Course Duration: 21 minutes
Course Points: 
20

Fridays with Fintelekt today features J Michael Skiba, international financial crime expert, with host Shirish Pathak, Managing Director, Fintelekt Advisory Services in a conversation around fraud. Michael, popularly known as Dr. Fraud, has had several years of experience helping individuals and corporations become safer against frauds, scams and schemes.

Michael’s experience shows that in the financial services sector, fraud is more a matter of opportunities, as 96% of people committing fraud have no criminal history. He says that the Covid-19 pandemic has changed many aspects of the ecosystem due to the transition to work from home, creating gaps in data security and increased stress on companies. This has also reduced the personal thresholds at which people respond to an opportunity to commit fraud.

With increasing automation and the use of technology, his concern is that the human element in fraud management is getting lost. Corporations need to continuously train people and build expertise in running automated platforms. He recommends the creation of a task force with people across various departments to share insights and create a sense of synergy and cooperation in fighting fraud.

To develop a strong deterrent against fraud, Michael feels that it is not just the creation of laws, but the support and proper enforcement of the laws that is critical. The lack of information sharing is another challenging aspect of fraud detection that needs to be addressed.

Listen to the entire episode for more insights on organisational culture, criminal behaviour and rationalisation of fraud from his book “The Psychology of Fraud”. 

Expert Speak: Muhammad Imran, INTERPOL

Course Duration: 38 minutes
Course Points: 35

Muhammad Imran, Criminal Intelligence Officer, Financial Crimes Unit – INTERPOL speaks about Financial Industry Collaboration for Fraud Mitigation and Prevention in this presentation from Fintelekt Asia AML/CFT 3rd Annual Summit 2021, held virtually from July 5-9, 2021.

Expert Speak: Mark Nuttall, Hill & Associates Singapore

Course Duration: 42 minutes
Course Points: 40

Mark Nuttall, Country Manager, Hill & Associates Singapore shared his experiences and best practices in Fraud Investigations. He talked about the importance and benefits of having a Fraud risk management (FRM) system in an organization and the components of a FRM system.

This presentation was part of the AMLC-Fintelekt AML/CTF Summit Philippines 2020, conducted virtually from November 23rd – 27th, 2020.

Webinar: Risk Sensing and Fraud Intelligence

Course Duration: 52 minutes
Course Points: 50

This webinar is part of the webinar series run by Fintelekt Advisory Services in association with the Asian Bankers Association (ABA). The topic for this webinar is “Risk Sensing and Fraud Intelligence” and was aired on November 18, 2020.

Speakers:

  • SHIRISH PATHAK, Managing Director, Fintelekt
  • CHUA CHOON HONG, Head of Compliance Solutions – APAC, Bureau van Dijk, A Moody’s Analytics Company
  • DEVENDRA RAGHAV, Head of Compliance and Internal Control, QNB (Qatar National Bank) Group
  • BERNARD LAW, Head of FCC and MLRO, Airstar Bank

Key discussion points in the webinar:

  • The importance of learning from the risk of fraud happening around the world
  • Understanding global risk typologies and the players
  • Applying the relevant knowledge into operations
  • Using data and technology in fighting fraud
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