Speakers discuss fraud prevention techniques

Dubai - More than 300 anti-fraud professionals from across the world gathered at the event hosted by Dubai government's Financial Audit Department.

The Association of Certified Fraud Examiners (ACFE), the world's largest provider of anti-fraud training and education, held its first Middle East Fraud Conference on Sunday.
More than 300 anti-fraud professionals from across the world gathered at the event hosted by Dubai government's Financial Audit Department.
"Anti-fraud collaboration is a mutual responsibility between FAD and the auditees. Therefore, FAD was keen to host the 2016 ACFE Middle East Fraud Conference in Dubai to encourage all auditees to share the responsibility of anti-fraud and to be equipped with international skills," Abdulla Mohammed Al Huraiz, acting director general of FAD said.
Keynote speakers included Hamed Kazim, CEO of HK Consulting and senior advisor to the Government of Dubai; Jeffrey Robinson, an international expert on organised crime and fraud; and professor Dr Marco Gercke, director of the Cybercrime Research Institute.
Speakers discussed trends in cyber security, how to use analytics to conduct effective investigations and how to a adapt fraud prevention and detection techniques for a global audience.
According to Robinson, who is the bestselling author of 27 books of fraud prevention, fraud can only happen if the victim cooperates. The only way you can really protect yourself is to stop at every turn and say to yourself: "Why is this happening to me, is it too good to be true? If it is too good to be true, it's not true."
He said corporate fraud is normally perpetrated by insiders, and is oftentimes undetected for up to two years.
"Insiders in corporate fraud steal from the company because they feel entitled, because the company has done them wrong, or because they feel the company owes them," said Robinson.
To avoid personal fraud, a person just has to step back for a minute and ask: "Why me?"
"If somebody needs your bank account, it is fraud as there is just no legitimate reason for doing so. If you didn't buy a ticket, you wouldn't win the lottery. It is common sense."
If you get a suspicious e-mail or phone call, just get on to Google and check what had been said or written about it, said Robinson.
- issacjohn@khaleejtimes.com