This document discusses fraud management and conflict of interest. It defines occupational fraud, who commits fraud, and what constitutes a conflict of interest. Conflict of interest can occur when personal interests influence professional judgment. Fraud perpetrators often look like normal citizens rather than criminals, and may have characteristics like being well-educated or religious. Managing conflicts of interest is an important part of fraud management. The document provides examples of procurement fraud and discusses how conflicts of interest can arise in situations like revolving doors between government and private companies.

1. Fraud Management and Conflict of Interest presented by Tommy Seah FCPA, FAIA, CFE, CSI ACFE Vice Chairman (2006/07) Regent Emeritus ACFE Board of Regents (ACFE World Headquarters, Texas) Chairperson, CFE International Consulting Group

2. Case Study

3. Best Practices

5. www.cfe-in-practice.net

8. www.cfe-in-practice.org What type of individual commits FRAUD? It is not limited to any one type of person.

11. Normal Citizens Fraud Perpetrators Bank Robbers Sample Sample Sample No Significant Differences Major Differences While people who commit rape, murder, bank robbery and other property offenses have distinguishing characteristics, fraud perpetrators look more like more citizens than criminals!

12. www.cfe-in-practice.org The Reality of Fraud Sometimes, even an honest person will lie. There are different motivations for lying. It is important for the interviewer to be able to recognize the different types of liars and to understand the reasons they lie.

13. Managing Conflict of Interest is an integral part Fraud Management

19. Do you have a conflict of interest? Integritas ac virtus bonorum sunt hominum arma

20. Questions? Copyright (c)2006 www.cfe-in-practice.net Integrity and Virtue are the weapons of good men

21. Copyright (c)2006 www.cfe-in-practice.net Thank you Contact Information: Tommy Seah CFE, FCPA, CSI Regent Emeritus ACFE Board of Regents, Texas, USA www.cfe-in-practice.net [email_address] Phone : + (65) 91069872