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EMPLOYEES AND FRAUD RISKS CNI’s Journey, Mistakes, and Lessons Learned Kenny Ong CNI Holdings Berhad
Contents: ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
This was what happened… ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Intro and Background Different Business, Different Frauds
Intro: CNI ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Intro: CNI
Intro: CNI ,[object Object],Factory CNIE DC SP Leaders Customers
A. Risk Mitigation in CNI No Business, No Risks.
No Business, No Risks. ,[object Object],[object Object],[object Object],[object Object]
Fraud Risk Mitigation? (1/2) ,[object Object],[object Object],[object Object],[object Object],[object Object]
Fraud Risk Mitigation? (2/2) ,[object Object],[object Object],[object Object],[object Object],[object Object]
Def: “Likelihood” 5% likely to happen, hasn’t occurred within last 5 years 1. Very Low 20% likely to happen, has occurred within last 5 years 2. Low 50% likely to happen, has occurred within last 24 months 3. Medium 75% likely to happen, has occurred within last 12 months 4. High 99% likely to happen, has occurred within last 12 months 5. Very high Definition Likelihood
Def: “Impact” 0-4K 0-2K 0-5K 0-10K 1. Insignificant 5K-20K 3K-10K 6K-25K 11K-100K 2. Minor 21K-40K 11K-20K 26K-50K 101K-500K 3. Moderate 41K-60K 21K-30K 51K-100K 501K-1M 4. Serious >60K >30K >100K >1.0M 5. Very Serious Sub C Sub C Sub B Sub A Impact
CNI Risk Categories ,[object Object],[object Object],[object Object],[object Object],[object Object]
How CNI Implemented Risk Management ,[object Object],[object Object]
Examples of CNI Risks and Calculations ,[object Object]
Examples of Fraud Mitigation Actions: Fraud Risks
Where are the Fraud Risks? ,[object Object],Management Staff Frontline Suppliers/Vendors Retail Front
Industry Risks ,[object Object],[object Object],[object Object],[object Object],[object Object],These Fraud risks affect all Direct Selling organizations but cannot be controlled by us. Only in joint efforts by drafting & pushing new regulations
Real Fraud, Real Risks ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
B. Reducing Fraud risk Probabilities Prevent. Deter. Kill.
Fraud Root Causes ,[object Object],[object Object],[object Object]
Risk Mitigation Strategies Culture Mitigation Identified Fraud Risks Structure Resources Leadership Person
Alignment: Framework ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Structure
*Power Balancing ,[object Object],[object Object],[object Object],[object Object],BOD Set 1 BOD Set 2 Approval/Verification
Alignment: Framework ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Resources
Strategy: Framework ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Leadership
Alignment: Framework ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Person
The Four Desperates 1. Desperate Competition 2. Desperate Consumer 3. Desperate Achievers 4. Desperate Changes
[object Object]
Possible General Root Causes for Fraud ,[object Object],[object Object],[object Object],[object Object]
GENERAL STRATEGIES AND POLICIES ,[object Object],[object Object],[object Object],[object Object]
GENERAL STRATEGIES AND POLICIES ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
GENERAL STRATEGIES AND POLICIES ,[object Object],[object Object],[object Object]
GENERAL STRATEGIES AND POLICIES ,[object Object],[object Object],[object Object],[object Object],[object Object]
SPECIFIC STRATEGIES AND POLICIES ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
SPECIFIC STRATEGIES AND POLICIES ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
SPECIFIC STRATEGIES AND POLICIES ,[object Object],[object Object],[object Object],[object Object]
*ICT Security and Fraud (1/3) ,[object Object],[object Object],[object Object],[object Object]
*ICT Security and Fraud (2/3) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
*ICT Security and Fraud (3/3) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],ICT Security, Backup, and Continuity Strategies 2005-2008:
C. Decreasing the Impact We failed. Now what?
Why Impact? ,[object Object],[object Object],[object Object],[object Object]
Levels of Impact (Fraud) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
small Impact ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Real Fraud, Real Risks ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Real Fraud, Real Risks ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Investigation: Principles ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Investigation: Process 5. Public Disclosure 6. CAR/PAR 4. Management Decision External  Legal 2. Investigating Office (I/O) External  P.I. 1. Case Tip Off 3. Internal Inquiry Independent Panel
BIG Impact ,[object Object],[object Object]
Crisis Management Plan Logistics & Info Systems Communications Process Owner: [dept. accountable] Policy and Planning After (profiting and learning) During (sound crisis management) Before (readiness for crisis) Crisis: Business Function
Crisis Communication Plan ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object]
D. Tracking and Reporting
[object Object],[object Object],[object Object]
Tracking: Who? How? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
E. New Fraud Risks We need help.
New Fraud Opportunities: CNI ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
eCommerce Frauds Account Takeover Pharming Counterfeit Advances Phishing Application Lost/Stolen  Credit Cards eCom  Frauds?
Latest Fraud topics: General ,[object Object],[object Object],[object Object],[object Object]
Fraud: Research Options? ,[object Object],[object Object],[object Object],[object Object],[object Object]
Risk Management: Research Options? ,[object Object],[object Object],[object Object],[object Object],[object Object]
End Points
Dangers of Direct Incentives ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Mistakes and Lessons Learned ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
In the end… ,[object Object],[object Object],[object Object],[object Object]
Thank You. soft copy of slides:   www.totallyunrelatedrandomanddebatable.blogspot.com

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Employees And Fraud Risks - UiTM Masters in Accounting Special Lecture

  • 1. EMPLOYEES AND FRAUD RISKS CNI’s Journey, Mistakes, and Lessons Learned Kenny Ong CNI Holdings Berhad
  • 2.
  • 3.
  • 4. Intro and Background Different Business, Different Frauds
  • 5.
  • 7.
  • 8. A. Risk Mitigation in CNI No Business, No Risks.
  • 9.
  • 10.
  • 11.
  • 12. Def: “Likelihood” 5% likely to happen, hasn’t occurred within last 5 years 1. Very Low 20% likely to happen, has occurred within last 5 years 2. Low 50% likely to happen, has occurred within last 24 months 3. Medium 75% likely to happen, has occurred within last 12 months 4. High 99% likely to happen, has occurred within last 12 months 5. Very high Definition Likelihood
  • 13. Def: “Impact” 0-4K 0-2K 0-5K 0-10K 1. Insignificant 5K-20K 3K-10K 6K-25K 11K-100K 2. Minor 21K-40K 11K-20K 26K-50K 101K-500K 3. Moderate 41K-60K 21K-30K 51K-100K 501K-1M 4. Serious >60K >30K >100K >1.0M 5. Very Serious Sub C Sub C Sub B Sub A Impact
  • 14.
  • 15.
  • 16.
  • 17. Examples of Fraud Mitigation Actions: Fraud Risks
  • 18.
  • 19.
  • 20.
  • 21. B. Reducing Fraud risk Probabilities Prevent. Deter. Kill.
  • 22.
  • 23. Risk Mitigation Strategies Culture Mitigation Identified Fraud Risks Structure Resources Leadership Person
  • 24.
  • 25.
  • 26.
  • 27.
  • 28.
  • 29. The Four Desperates 1. Desperate Competition 2. Desperate Consumer 3. Desperate Achievers 4. Desperate Changes
  • 30.
  • 31.
  • 32.
  • 33.
  • 34.
  • 35.
  • 36.
  • 37.
  • 38.
  • 39.
  • 40.
  • 41.
  • 42. C. Decreasing the Impact We failed. Now what?
  • 43.
  • 44.
  • 45.
  • 46.
  • 47.
  • 48.
  • 49. Investigation: Process 5. Public Disclosure 6. CAR/PAR 4. Management Decision External Legal 2. Investigating Office (I/O) External P.I. 1. Case Tip Off 3. Internal Inquiry Independent Panel
  • 50.
  • 51. Crisis Management Plan Logistics & Info Systems Communications Process Owner: [dept. accountable] Policy and Planning After (profiting and learning) During (sound crisis management) Before (readiness for crisis) Crisis: Business Function
  • 52.
  • 53.
  • 54. D. Tracking and Reporting
  • 55.
  • 56.
  • 57. E. New Fraud Risks We need help.
  • 58.
  • 59. eCommerce Frauds Account Takeover Pharming Counterfeit Advances Phishing Application Lost/Stolen Credit Cards eCom Frauds?
  • 60.
  • 61.
  • 62.
  • 64.
  • 65.
  • 66.
  • 67. Thank You. soft copy of slides: www.totallyunrelatedrandomanddebatable.blogspot.com