Counter fraud insights

The 8th Counter Fraud and Forensic Accounting Conference held on 6th June 2018 at the University of Portsmouth was a success, truly a day of valuable insights for counter fraud professionals.

Morning session

The morning started with new ways of improving response to fraud by Dr. Rick Muir (Director of the Police Foundation, UK) and continued with the fascinating topic of Cybercrime by Mr. Jim Gee (Chair of the Centre for Counter Fraud Studies, Portsmouth). After that, Ms. Laura Eshelby (Head of Counter Fraud Professionalism, Cabinet Office) spoke about the importance of standards for Counter Fraud in the central government.

Case studies

In three extremely interesting case studies experts shed light how actually fraud investigations are taking place. Firstly, Mr. Ross Beaven (Forensic Information Technology) presented his observational study on Bitcoin Fraud found on the Onion Router. Then, Ms. Nicki Deeson (International Finance Director, Amnesty Int.) shared practical learnings about Amnesty International’s experience of fraud, and the measures that they put in place to counter fraud. Just before noon, Ms. Sue Mortimer (Big Four accounting firm) unraveled her rewarding life-time experience as a forensic accountant involved in the Volcker Commission investigation in her case study “Nazi Gold”- The Hunt for Hidden Assets from the Holocaust at Swiss banks”.

Afternoon insights

The afternoon session was dedicated to getting whistleblowing right. Solicitor Francesca West (Public Concerns at Work) advocated that effective whistleblowing procedures help businesses save money and resources and improve their organizational culture. Next, Mr. Richard Sangster (Head of Fraud Data and Analytics Development) and Mr. Rob Malcomson (Head of Cross Government Fraud Data Pilots, Cabinet Office) gave excellent presentation about the importance of Data Sharing and Analytics to Fight Fraud. The Conference was closed by an interdisciplinary study of behavioural traits standing behind decision-making of Enron’s Board. Dr. Oliver Marnet (Southampton University) and Dr. Richard Fairchild (University of Bath) analysed, employing a behavioural and psychoanalytical game theoretic approach, particular phenomena that might lead to managerial fraud in the corporate sector.