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Knowing your FRAUDScape

Knowing your FRAUDScape. Don’t be a Soft Target for Fraud. Jonathan Le Roux. Fraud Rising. Is Fraud like a HORN in your side?. Global Total Fraud Loss $3.5 Trillion. Local Total Fraud Loss R188 Billion. SA: 69 th - 43.

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Knowing your FRAUDScape

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  1. Knowing your FRAUDScape Don’t be a Soft Target for Fraud Jonathan Le Roux

  2. Fraud Rising

  3. Is Fraud like a HORN in your side?

  4. Global Total Fraud Loss $3.5 Trillion

  5. Local Total Fraud Loss R188 Billion

  6. SA: 69th - 43 Source: Transparency International Corruption Perception Index Report 2012

  7. Source: Corruption Watch Annual Report 2012

  8. 63%Increase in Reported Fraud Cases since 2005! Source: SAPS Crime Statistics

  9. Our FRAUDScape has changed…is changing (constantly)!

  10. Presentation Heading and descriptor in Arial over two lines

  11. “African” Risk Management Source: Kroll Fraud Report 2011

  12. Fraud Economics! “I call it the 2nd Law Fraud of Dynamics…fraud goes from order to disorder” Barry Minkow, Ex-Fraudster, ZZZ Best. $100 million Ponzi Scheme

  13. Fraud Migration …. Three issues!

  14. Fraud Risk Management (FRM) …

  15. Source: IOL, January 19 2013 by Sheree Bega

  16. People and Process • “Allegedly urged to stand closer to the animal by a wildlife expert” • “Allegedly told a group of visitors to get out of their vehicleto take photos and even encouraged the rhinos to come closer with food.” • “On the resort's website it lists rhinos as one of a number of animals which visitors can see 'at close range'.”

  17. Data and Technology

  18. "We need to change the rules of the game. We need technology. The only thing that can see these people before they do the dirty deed is surveillance drones.“

  19. Rhino Facts and Fraud Lessons Rhinos make their own sun block by wallowing in mud and letting it dry. LESSON 1: We need to protect ourselves from the ‘Fraud Elements’ Their horns are used to make ceremonial dagger handles in the Middle East (called jambiyas) and as an aphrodisiac in traditional Chinese medicine LESSON 2: Fraud adds no value! Being reactive is no answer. Black rhinos are very aggressive and will charge easily due to their poor eyesight. LESSON 3: Fraud happens – its closer than we think! Black rhinos run on their toes and can go as fast as 35 mph. LESSON 4: To be more responsive, Technology is key to Fraud Prevention. The black rhino browses on leaves, thorny bushes, fruit and leafy plants. The white rhino is a grazer who eats grass. LESSON 5: If you look like food, you will be eaten!

  20. “Punishment for fraud and recovery of stolen funds are so rare that prevention is the only viable course of action”. -Frank W. Abagnale

  21. Information-Insight-Intelligence

  22. What are you wanting Technology to do for you? Municipal ACLerator

  23. The “Fraud Shield”

  24. Get started with your FRM efforts!

  25. Don’t let Fraud be your fairytale…

  26. Questions/Queries • This presentation was prepared by CQS for the IMFO Risk and Audit Indaba • For more context to this presentation and its contents, please do not hesitate to contact Nicole De Lange or Jonathan Le Roux • Cell: +28 82 666 4529 /+27 82 462 0811 • Email: nicoled@cqs.co.za / jonathanl@cqs.co.za • Web http://cqs.co.za

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