According to Survei Fraud Indonesia 2019, it was revealed that finance and banking industries were most disadvantaged by fraud. Although the report does not mention in detail the types of fraud that occurred, based on information from an experienced investigator, Rachel Vamos, CFE , to Fraud [...]

Employees are an important company asset. It is imperative for companies to be able to manage employees well, including involving employees in managing fraud risk. Based on the 2019 Indonesian Fraud Survey report, reporting is the most effective method of disclosing fraud and most fraud cases [...]

Fraud takes various forms; misuse of assets, bribery, embezzlement, collusion, falsification of financial reports, corruption, and others. It is a latent danger that can threaten an organization’s economy, even a country’s. The 2019 Indonesian Fraud Survey report published by ACFE [...]

Organizations have been relying on external auditors to ensure the accuracy of financial statements as well as their compliance with law and regulations. However, many cases of financial statement issues involve fraudulent activities. The external auditors do check the integrity of the [...]

To survive and grow in this constantly changing world, organizations are demanded to prove their reliability and trustworthiness. Meanwhile, corruption and bribery remain as major threats for organizations. A report entitled “The World Economy on a Tightrope” compiled by the OECD said that [...]

There are many ways to uncover occupational frauds. However, uncovering after the fraudulent acts occur causes huge losses for the company, both financially and morally. According to ACFE Report to the Nations 2020, fraud committed by employees accounts for annual losses of 3.6 billion USD.  [...]

Recognizing earlier red flags is critical in mitigating fraud risk. According to Report to The Nations 2020, 85% of all fraudsters displayed at least one behavioral red flag while committing their crimes. There are seven common behavioral red flags: (1) Living beyond means (2) Financial [...]

What do you know about your vendor? There are many cases of vendors that have gone wrong and reasons why organizations should know who they are conducting business with. The KFC case is one of these examples. The fried chicken giant temporarily closed 900 of its stores in the UK in 2013 due to [...]

The Professional Background Screening Association (PBSA) successfully held its annual conference on September 14 and 15, 2020. It was a great opportunity for Integrity Asia to be able to attend the event. With the theme “Make way for Excellence”, the conference presented expert speakers who [...]

Has your company implemented strong internal control measures? If not, then you should be worried as your company is likely to be exposed to fraud risks that can reduce your investor’s trust.  According to Report to the Nation 2020, lack of internal control is a major factor in the cases of [...]