Cape Town Year End
11 November 2021 | 14h30 – 16h30 | CPE Points: 2 | Virtual
Members: R180 VAT incl. | Non-members: R250 VAT incl.
Alex Johnson | David Manley | Michael Stavridis
Revolutionizing fraud detection and investigations through connected analytics and contextual AI
It is well known that fraudsters adapt their methods to get round traditional processes. They will cleverly bypass manual or transactional controls and adjust their information and modus operandi quickly to go about their business undetected. Often organizations do not have a complete picture of risk, or it takes hundreds of investigation hours stitching together insight to gather that complete picture of risk. In this presentation we discuss how, with the latest Artificial Intelligence (AI), organizations can augment existing detection techniques and investigation process to, more quickly & more accurately detect and prevent fraud. We focus on data fusion and dynamic analytics with smart visualization to help analysts and investigators uncover emerging fraud threats and enable faster and more streamlined investigation.
Remote Interviewing and Investigative Techniques
The presentation will deal with how investigators have adapted to conducting investigations in the virtual world brought upon by the Covid 19 pandemic. Current circumstances present operational challenges for the investigator, but the expectations of stakeholders such as Boards, Audit Committees and External Auditors are still high and the Regulatory scrutiny intense.
We will learn how we work through the various practical constraints brought on by restricted access to data and documentation, and how we best gather the different kinds of evidence such as structured data from accounting systems; unstructured data such as email and mobile device data; and supporting documentation like invoices, PO’s, proof of performance, or contracts.
We will cover constraints around performing the work and collaborating in virtual teams; the challenges in conducting interviews remotely and how we interact with whistle-blowers, witnesses and persons of interest; and how we report out and present findings.
Additional considerations include how best to protect confidentiality and maintaining legal privilege when we cannot avoid sharing information remotely; the ongoing need to stop bad conduct and preserve evidence when physical access may be limited; and meeting the expectations of external stakeholders such as external auditors or regulatory authorities in this changed environment.
* Please note: If you want to make a company booking for more than one delegate, please contact Anita Nel at Anita@acfesa.co.za for invoicing.