Fraud prevention and detection within open data environment

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  • 1. Fraud Prevention and Detection Within Open Data Environment Aspirations & Challenges Sherif Fakhry Younes Director of Internal Audit and Risk Management (TRA)
  • 2. (GRC) & Audit Function Corporate Governance.  Risk Management.  Control.  2
  • 3. Corporate Governance Activities • Reviewing Organization Structure. within Competency Framework. • Reviewing job description, balanced tasks and responsibilities. • Reviewing Segregation of duties and Delegation of Authorities. • Reviewing Matrix of Authorities. • Clear mechanism to monitor Conflict of interest. 3
  • 4. The Risk Management Process • Building Enterprises Risk Management Module. • Aligning Risk Management process. • Continuous observations: . Assessment . Mitigation . . Control 4
  • 5. The Enterprises Risk Management Building Enterprise Risk Management Module: • • • • • Planning phase. Designing phase. Developing phase. Implementation phase. Reporting & Monitoring phase. 5
  • 6. Control • The role of internal audit is not limited to the Risk management process but it extends to verify whether the other risk control function within the organization is working properly. 6
  • 7. Compliance as a part of Corporation Strategy • Compliance is the first business risk for any Corporation or Government. • It should be an important part of the Corporation or the Government strategy. • The compliance officer should act and coordinate with other control and risk officers. 7
  • 8. Challenges of Audit function Thankless position.  Limited qualified resources.  Raising issues instead of finding solutions.  Lake of Corporate Governance awareness.  No clear description of Conflicts of interest.  Value-added is not measurable and not clear.  Classic Audit approach facing New Technology.  8
  • 9. New Audit Universe Risk Management Governance Financial Audit Control Internal Audit Cyber Security Analytics Open Government Partnership 9 Performance Audit
  • 10. New Audit Universe Risk Management Governance Financial Audit Cyber Security 10 Control Internal Audit Performance Audit
  • 11. Global Economic Crime Survey • Global Economic Crime Survey in the Arab World conducted by (PWC) – almost 4000 response from senior executive in 80 countries refers to: • Cyber Security crimes and Fraud is the most growing threat in the Middle East. 11
  • 12. Cyber security Concept What is Cyber Security all about? • With New technology, New communication devices and new software which we revolve our daily lives around, we are impacted by these new technologies and innovations which center our computers and cell phones. • Cyber Security is all about keeping your data safe, it is in fact about how to protect your personal information or any form of digital information stored in your computer, your mobile or in any digital memory device. 12
  • 13. Cyber security Importance Why it is important: • Cyber Security is an important factor for our lives and should never be dismissed above all in today's technology age. • With proper protection installed, you will be able to keep your files and data safe. • It's very important that you keep 13
  • 14. Cyber Security & Audit Approach • The first thing that you'll have to realize is the forms of threats that you could encounter in Cyber Space. • There are different forms of threats each one has its own level of Risk. • Risk Management process as a part of IA Process should be reconsidered and redeveloped. 14
  • 15. The Most Common Types of Fraud • • • • • • Bribery . Corruption. False information . Cyber security Fraud. Asset misappropriation. Misuse of insider information. 15
  • 16. New Audit Matrix Risk Management Governance Financial Audit Cyber Security 16 Control Internal Audit Performance Audit Analytics
  • 17. Analytics & IA Analytics is a life cycle of  extensive use of data, statistics and quantitative analysis which may result in remodeling the business operations and consequently change the internal audit process. 17
  • 18. Data Analytics Mobile App. E-Commerce Social Media Advertisement 18
  • 19. IA Advantages of New Technology IA Efficiency: IA should take into consideration  Analytics and data visualization tools to deliver more dynamic response to Business Risks. GRC Technology should allow IA for Corporate Governance, more Control and more Compliance. IA Cost: IA should perform with  lower cost through automation. 19 more 
  • 20. New Audit Matrix Risk Management Governance Financial Audit Control Internal Audit Performance Audit Cyber Security Open Data / Open Gov. Paertnership 20 Analytics
  • 21. H.H Sheikh Mohamed Bin Rashid AL Maktoum Concepts for Mobile Government Government Summit Feb. 2013 Government that works 24/7.  Government that never sleeps.  Government which responds quickly.  High standards of hospitality like hotels.  Very powerful in its process and procedures.  21
  • 22. 22 22
  • 23. • Government Open Data is all data or information that government entities produce or collect … Which Can be easily consulted and re-used by anyone with access to the internet. From Portable Document Format PDF To Resource Description Framework 6 23
  • 24. Open Data Advantages Creating more business opportunities.  Boosting public trust in government.  Promoting innovation and research.  Positive impacts on economy.  Promoting transparency.  Creating more new jobs.  More accountable Gov.  More effective Gov.  Fast response.  Less Fraud.  24
  • 25. Open Data as a Global Trend In December, 2011 European  Union releases “Digital Agenda”: The Open Data Strategy. The total direct and indirect  economic gains re-use open data across the whole EU27 economy would be in the order of € 140 billion annually. “Data is the new oil of 21 century” Neelie Kroes - Vice President of the European Commission, responsible for the Digital Agenda 21
  • 26. World & Open Government Partnership U.S President Barack Obama  signed the Memorandum on Transparency and Open Government in Jan 21, 2009 British Prime Minister David  Cameron at G8 2013 pledged that UK leadership of the OPG would drive transparency revolution in every corner of the world. 22
  • 27. Open Government Partnership October 25, 2011 The Vision: Building Government that sustainably become more transparent, accountable and responsive to its own citizens and residents. The Mission: Sharing data to enhance high performance and improve the Corporate Governance. 27
  • 28. Open Government Partnership October 25,2011 Open Government Partnership targeted: Drive macro economic growth.  Restore faith in Government.  Improve public services.  Reduce corruption.  Reduce poverty.  28
  • 29. Launch of Open Government Partnership in NY, US. May, 2009 (Data.gov) went live. 8 founding members. 76 data sets and tools from 11 government agencies.  Sept., 2011 40+ countries started the process to join.  It is not a choice, it is a Gov. ranking requirement. 29
  • 30. Open Government Partnership 5 key Policy Areas for London Conference Oct, 2013: Opening Government Data.  Government Integrity.  Empowering Citizens.  Fiscal Transparency.  National Resources Transparency. 30 
  • 31. Open Government Partnership Introductory video : http://www.youtube.com/watch?v=LijchWVlirc 31
  • 32. Challenges of Open Government Partnership Political challenges.  Government infrastructure.  National security and privacy protection.  Data integration and analysis mechanism.  Society Culture and local Social environment.  Legal challenges (IP, Copy right – Copy left etc..).  32
  • 33. OGP and National Security National security requirements • should be considered. Not all the Big data should be • shared or declared, we cannot share: Military Info & expenses.  State Security information.  Nuclear programs activities.  We don’t open up for others to benefit, we have to know why! and we have to benefit too. 33
  • 34. New Audit Matrix Risk Management Governance Financial Audit Cyber Security Control Internal Audit Performance Audit Analytics Open Data / Open Government Partnership 34
  • 35. Internal Challenges For OGP People Old Process Regulations 35
  • 36. Success Factors Political decisions.  Gov. leaders support.  Gov. Management style.  Highly qualified Gov. staff.  Civil Community influence.  Government infrastructure.  Accountability environment.  Clear independent reporting.  36
  • 37. Open Government Partnership Implementation Requirements from Defense … … to Scoring 37
  • 38. “with great power comes great responsibilities” “with great power comes great responsibilities” (Franklin Delano Roosevelt, 1882-1945) “Only leaders can change dreams into 19 38
  • 39. “ With great power comes great responsibility... (FranklinSherif Fakhry Younes Delano Roosevelt, 1882-1945) Sherif.fakhry@tra.gov.ae sfakhry64@gmail.com 21