Top British Police Chief to address Fraud 2005 this March

Detective Chief Superintendent Ken Farrow, Head of the City of London Police Force's Economic Crime Department, will be among the headline speakers at the inaugural Fraud 2005 conference to be held in the JW Marriott Hotel Dubai on 27th and 28th March.

Sharing his insights into the latest trends in corporate fraud and methods of detecting white-collar crime, DCS Farrow will address an audience of senior Middle Eastern auditors, managers, risk consultants and law enforcement officials.

"I think the adage that 'if you want to catch a criminal you have to be able to think like one' applies more than ever today," he says. "Fraud increasingly occurs when weaknesses are identified in a company's procedures and policies and criminals decide that the potential rewards outweigh the risk of detection. Every company must ensure, therefore, that they recognise areas of weakness and know what to do if fraud is discovered. I hope regional delegates will be able adapt international concepts to the cultural and organisational structures of their companies."

Since the turn of the millennium the global business community has been shocked out of complacency by the staggering financial scandals at companies such as WorldCom and Enron. Pillars of the community were found to be cheats and thieves, defrauding both their colleagues and the many thousands of clients, suppliers and investors who had blithely assumed executives of such stature would behave with integrity and honesty.

Regulators, law enforcement officials and private investors are now increasingly conscious of the threat posed by corporate fraud, and expect senior executives to ensure their businesses comply with legal and ethical standards. But for many business leaders in the Middle East, as elsewhere, the range of potential threats is hard to fathom. From cyber-crime to internal audit policies, money-laundering to procurement contract fraud, how can senior managers protect both their company's financial assets and its all-important reputation in the market?

"The sad truth is that corporate fraud is a global threat to which Middle Eastern businesses are not immune," says Steven Jones, Event Director for Fraud 2005. "Fraud-prone industries such as banking, real estate and construction are booming in the region now, which is why it's so important for us all to understand the many forms fraud takes and practical controls we can implement to frustrate the criminals."

Recent research conducted by Ernst & Young found that 85% of major corporate frauds are committed by staff within the company that has been defrauded; statistics that demonstrate how insidious financial crimes can be. Few know the stresses of internal accountability better than Marta Andreasen, former European Commission Chief Accounting Officer. Her presentation at Fraud 2005 will highlight her own experiences when she refused to sign off the European ommission's 2001 accounts because of discrepancies she found on the organisation's books. She blew the whistle and was fired for it, and this March will explain why transparency is such a crucial component of corporate governance checks and balances.

Other headline speakers at Fraud 2005 include, Toby Bishop, President And CEO of the Association Of Certified Fraud Examiners, Claire Shaw, Case Controller at The UK's Serious Fraud Office and Leslie Miller, Head Of Investigations British Petroleum Group. The event will take place in the JW Marriott Hotel Dubai and in addition to the two-day conference, organisers IIR have arranged five pre and post-conference workshops to be held on 26th, 29th and 30th March. These half-day intensive workshops will cover issues such as Fraud Prevention & Protection, Anti-Money Laundering, Procurement & Contract Fraud, Managing Fraud Investigations and Fighting Electronic Fraud.