On-Demand Round Table Discussion
From Fraud Prevention to Deterrence
How analytics can create a paradigm shift for Procurement
About the event
Procurement fraud exists in global economic history from the beginning of times; for as long as people exchange money for commodities, there have always been “greedy” individuals who find ways to work around laws and controls to manipulate the systems to their own benefit. To effectively help eliminate this challenge, it is time for organizations to leverage the use of 21st-century technology, to address the behavioral root cause of this issue; by using advanced analytics to create a robust culture of deterrence, systems could become so strong that potential fraudsters, would be discouraged from attempting anything. Due to its behavioral aspects, the shift from prevention to a deterrence mindset can help business organizations and public agencies to effectively address the systematic nature of procurement fraud and take big steps towards creating a transparent and trusted relationship with customers & citizens today.
Watch our 60 minute on-demand round table discussion to gain insights on:
- The real volume of losses occurring from procurement-related fraud, in terms of money, reputation, and cultural degradation
- How analytical technologies can support the deterrence
- How can organizations effectively manage compliance alerts when working towards a deterrence culture, and optimize results without exceeding capacity?
- What is the importance of analytics democratization & data literacy promotion among audit & compliance functions? And how can the analytics improve collaboration between business and audit/compliance, through auditable automation?
SAS EMEA Continuous Monitoring Solution Lead
Assisting customers in tackling financial crime using NLP, ML and analytics since 1999. After focusing on sanctions screening, anti-money laundering, payment fraud and terrorist cell financing he is now working to address Continuous Controls monitoring including procure to pay, travel and entertainment, know your supplier and insider fraud modus operandi. He holds an MBA in Finance from the University of Michigan and a joint degree in linguistics, econometrics and computing from the University of Montreal.
Thomas A Caulfield
ACFE Board of Regents, Co-Founder & CEO
Procurement Integrity Consulting Services
With over forty-years of professional public and private services beginning in the United States Marine Corps as a Criminal Investigator and Polygraph Examiner (retired 1998). Tom’s career continued as a civil servant in the United States Air Force, the Central Intelligence Agency, and the Council of the Inspectors General on Integrity and Efficiency. Tom retired in 2015 from federal service as a Senior Executive and co-founded an international anti-corruption consulting firm named Procurement Integrity Consulting Services (PICS). Clients include the United Nations Office on Drugs and Crime, World Bank, the International Law Institute and various government anti-corruption authorities in East Africa, Southeast Asia and the United Kingdom. Domestically, PICS has assisted government and private entities in reviewing procurement policy compliance, enhancing ethics and compliance programs, building effective whistle-blower procedures, and establishing procurement anti-fraud protocols.
With the COVID-19 pandemic presenting unprecedented opportunities for fraud, Tom was asked to return to federal service to build and manage the Special Inspector General for Pandemic Recovery’s (SIGPR) Office of Investigations. After accomplishing the building of SIGPR’s investigative office, he returned to his company where he uses his over four decades of anti-corruption experience in assisting both public and private entities in reducing their vulnerabilities to financial and reputational damages related to corruption and/or fraud.
Head of Counter Fraud & Business Ethics,
Russ has been working with financial crime and fraud since 1983. Initially working within law enforcement, followed by fraud management experience in the public sector, financial services, aviation, on-line gambling and latterly construction and rail. The majority of his time has been spent working outside the UK in the US, Caribbean, Europe Africa and the Middle East, with the last 15 years concentrating mainly on procurement / contract management fraud.
Senior Manager Financial Services Advisory
Forensic Compliance, KPMG, Denmark
Various forensic investigations and compliance projects are key focus areas for Kirsten, where she has specialised in areas such as financial crime. Kirsten has gained experience at both KPMG Germany and Deloitte on investigations covering different industry clients in the areas of sanction breaches, corruption, procurement fraud and AML, inter alia.
Manager Financial Services Advisory
Forensic Compliance, KPMG, Denmark
Marie has a focus on areas such as forensic investigations, financial crime, and compliance which includes AML, financial statement fraud, forensic data analytics, third party risk and regulatory compliance. Before KPMG, Marie performed assessment and proceedings in national and international cases of financial crime at the Danish Tax Agency. Furthermore, she has been an auditor at PWC where she helped to establish a new big data analytics function and worked with enterprise clients across the globe, but her career started as a manager in the public sector in health.