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LOAN & MORTGAGE FRAUD: UNDERSTANDING, DETECTING & INvESTIGATION                                             24th - 25th Fe...
LOAN & MORTGAGE FRAUD: UNDERSTANDING, DETECTING & INvESTIGATION                                        24th - 25th Februar...
24th - 25th February 2009
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Loan & Mortagage Fraud Brochure


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TOMMY SEAH conducts Loan and Mortgage FRAUD in Malaysia

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Loan & Mortagage Fraud Brochure

  1. 1. © ProEdge Global A ProEdge Financial Management Series Knowledge is Empowering an executive coaching session on: Loan & Mortgage Fraud: Understanding, Detecting & Investigation SOLD OUT in Hong 24 & 25 February 2009 th th Kong & Singapore. Now in Kuala Lumpur, Berjaya Times Square Hotel, Malaysia Kuala Lumpur, Malaysia The FBI defines mortgage fraud as “any material misstatement, misrepresentation or omission relied upon by an underwriter or lender to fund, SPECIAL purchase or insure a loan.” Don’t Miss Out This Fantastic Offer ! Book & Pay Before Fraud for profit: A complex scheme involving multiple parties, including mortgage 12th Dec 2008 lending professionals, in a financially motivated attempt to defraud the lender of large sums of money. • Save up to RM400 • 1year CSI Associate Fraud for profit schemes frequently include a straw borrower whose credit report is used, a dishonest appraiser who intentionally and significantly overstates the value of Membership on the subject property, a dishonest settlement agent who prepares two sets of HUD settle- recommendation by ment statements or makes disbursements from loan proceeds which are not disclosed Chairperson on the settlement statement, and a property owner, all in a coordinated attempt to Tommy Seah obtain an inappropriately large loan. • 10 CSI accredited CPE points The parties involved share the ill-gotten gains and the mortgage eventually goes into default. In other cases, naive “investors” are lured into the scheme with the organiz- er’s promise that the home will be repaired, repairs and/or renovations will be made, tenants will located, rents will be collected, mortgage payments made and prots YOUR COACH : will be split upon sale of the property, all without the active participation of the straw Tommy Seah buyer. Once the loan is closed, the organizer disappears, no repairs are made nor rent- CFE, FAIA, Forensic CPA, CSI ers found, and the “investor” is liable for paying the mortgage on a property that is not worth what is owed, leaving the “investor” nancially ruined. If undetected, a bank may Chartered Banker, lend hundreds of thousands of dollars against a property that is actually worth far less Accountant, and in large schemes with multiple transactions, banks may lend millions more than the Auditor, Investigator, properties are worth. Examiner, Member of The Board of Regents, This seminar explains the various aspects of mortgage loan fraud and addresses the areas where your financial institution may be vulnerable. ProEdge Global is pleased ACFE (Texas, USA) to present this 2-day Workshop on Loan & Mortgage Fraud: Understanding, Detecting & Investigation. This will serve as an excellent opportunity to learn the fundamentals necessary to conduct a proper loan & mortgage fraud assessment in compliance with corporate and regulatory guidelines. CFE-In-Practice Official Training Hotel Partner Integrity. Intelligence. Independence. For registration and enquiries please contact our Program Manager Kenneth : Email : kenneth@proedgeglobal.com Tel : +603 2116 5671 Fax : +603 2116 5999 Web : www.proedgeglobal.com
  2. 2. LOAN & MORTGAGE FRAUD: UNDERSTANDING, DETECTING & INvESTIGATION 24th - 25th February 2009 Why is this program so special ? Program Outline : Day 1 & Day 2 In the light of the current economic crisis, loan offi- • Strictly limited numbers means that you will receive cers and relationship managers are often unjustiably maximum personal tuition and coaching throughout accused of chasing short term gain that landed their the entire program bank in long term pain. Our distinguished speaker, Mr. • Learning will be facilitated through discussion and “real Tommy Seah, No. 1 Fraud buster in Asia wants to see life” case studies. that the Mortgage Industry steps up and starts training • This course is lead by one of the leading financial their employees the correct way. fraud specialist who has taught professionals from most of the leading organisations around the world WHAT IS FINANCIAL CONTAGION AND HOW IS IT • New and exciting developments in the fraud detection TRANSMITTED? and prevention techniques will be shared to increase • How did we get into this terrible mess ? your effectiveness within all aspects in dealing with fraud in your organisation. INTRODUCTION TO MORTGAGE AND LOAN FRAUD • This comprehensive course offers you the unique • Commonly Reported Variations of Mortgage Fraud opportunity to leverage on networking, sharing • Mortgage Fraud Schemes of views and ideas, and learn how other organisations • Fraud for property and fraud for profit are dealing with problems of financial fraud. • Common misrepresentations in mortgage loan • Acquire the skills and defense strategies from applications Tommy Seah, Asia’s Number 1 ‘Fraud Buster’ • Loan Flipping & Deceptive Loan Servicing • Credit Insurance Packing The institutions that Tommy has trained include: • Bait and Switch Monetary Authority of Singapore, Oversea Chinese • Effective Fraud Detection Measures Banking Corporation, Perwira Affin Bank, United Overseas Bank Ltd, Hong Leong Finance, Malaysian UNDERSTANDING AND SHAPING YOUR ENvIRONMENT International Merchant Bankers Bhd, P.T. Indonesia • Understanding the role of the Relationship Manager Finance & Investment Co, Southern Bank Bhd, United • Understanding the role of a Corporate Loan Officer Malayan Banking Corp Bhd, Tenaga Nasional Bhd, Westpac Banking Corp, Government Investment AUDITORS RESPONSIBILITIES Corporation of Singapore, PriceWaterhouseCoopers, • Collusion between employees and third parties HSBC, Philip Morris, Inland Revenue Board, CIMB. represents a growing number of all mortgage fraud • In what order would you perform the suggested Some Comments from Past Delegates: investigative task • “The subject matter was well presented and at a • The difference between Auditing and Investigation suitable pace.” - Manager, BNP Paribas • Looking beyond financial records • “The way the program was conducted - Lively - • Discussion on choosing a loan (Case scenario) Able to keep one’s attention.” - Head of Internal Audit, Credit Lyonnais CONDUCTING INTERvIEWS WITHIN THE FRAUD AUDIT • “Interesting, informative and lively presentation” • Using Kinetics to spot deception: Interpreting bad - Investigation Officer, Inland Revenue Board (IRB) language • Interviewing Dos and Don’ts Who Should Attend This Program • Who should conduct the interview The course is a unique opportunity fort hose who wish to learn improved methods associated with Mortgage INvESTIGATING - RESPONDING TO SUSPECTED Loan Fraud detection and prevention. It also showcases WRONGDOING an interactive approach towards the needs and issues • Introduction to Fraud Investigation pertaining to Mortgage Fraud. • What a complete investigation should include • Fraud Investigation Methodology This course will provide an invaluable insight for : • Obtaining evidence and proving wrongdoings in • Relationship Managers mortgage sales • Corporate Lending Officers • Credit Managers ETHICS AND THE PREvENTION OF MORTGAGE FRAUD • Credit Administrations • Building an Anti Fraud Program • Operations Managers • Management programs for Morgage Fraud • Heads of Internal Audit/Corporate Audit deterence and the tone at the Top • Audit Managers/Officers • Steps in Mortgage Fraud prevention • Finance Directors • Discussion and suggestions for the future • Branch Manager • Loan Officers BACKGROUND EXAMINATION ACCOUNTING ANALYSES • Risk Management Heads • A discourse on the need for surveillance of • Key Account Managers employees in the Marketing Department • Forensic Accountants • Case Studies: Red Flags in Mortgage Fraud • Independent Auditors Banks in the country are turning cautious and being selective in evaluating loans due to the global credit crunch, but they have not put the brakes on lending to businesses, bankers said. - source The Star (Friday October 10, 2008)
  3. 3. LOAN & MORTGAGE FRAUD: UNDERSTANDING, DETECTING & INvESTIGATION 24th - 25th February 2009 Your Fraud Investigation Coach Tommy Seah is the author of seven banking books including the F.I.G. Program. The F.I.G. is the authori- tative and definitive text on Financial Instruments designed to be used in the world wide banking industry. This publication has received excellent review and first class commendation from some of the most authoritative professional certification bodies and top-rated banks in the world. The other six authoritative texts are The Audit Foreign Exchange in Banks, The Control of Money Market Activities in Banks, Understanding and Auditing Operational Risk Management, Financial Management for Banks, MCA for Banks and SWAPS in Investment Banking. His CFE-In-Practice latest publication is BASEL II Trading Book Issues in Risk Management. Integrity. Intelligence. Independence. Tommy Seah, CFE, FAIA, Forensic CPA, CSI For the past twenty eight years, Tommy has trained Chartered Banker, Accountant, numerous bank auditors and consulted by numerous lawyers in the region. Financial Instruments, Foreign Auditor, Investigator, Fraud Examiner Exchange, Money Market Options, Derivatives and Member of the Board of Regents, ACFE Swaps are his special interests. He devotes a substan- (Texas, USA) World Headquarters tial portion of his time in research work and is presently Chairperson, CSI World Headquarters available on retainer to selected established banks for loss prevention consultancy. Today, he is still very much a hands-on accountant, auditor, investigator and SOX Course Details Tommy is the Independent Third Party Central 404 Compliance examiner. Bank Compliance Reviewer for a $25 billion asset management company. He is a Risk Management Specialist and a member of the Global Association Course level: Intermediate of Risk Professionals (GARP). He is a Certified Fraud On booking, you will receive a pre-course question- Examiner and a member of The Association of Certified naire, which will help the course leader pinpoint your Fraud Examiners Board of Regents based in Texas, USA. precise concerns and learning needs, so that he can CFE is a post graduate professional qualification tailor the content to your particular area of interest. If recognised by the USA Central Intelligence Agency in you require any further information about the course it’s recruitment of auditors for combating fraud. program, please call our us on (+603) 2116 5671 or email to kenneth@proedgeglobal.com His services in providing technical training and consultancy in AML and Basel II systems implementa- tion is much sought after by numerous banks in the It takes a little willingness to learn from the right author- region, including Germany, Singapore, Malaysia, China, ity on the subject and proficiency can come almost Indonesia, Brunei, Thailand, Philippines and Taiwan. immediately. It is for this very reason that ProEdge Tommy’s previous experience includes systems-based Global together with CFE In- Practice takes upon itself to auditing in an American International Bank, where he launch this learning event for the benefit of the business was the Senior Regional Auditor responsible for the community at large. Bank’s audit in the Asia Pacific region. He has also held the top executive position of Chief of Internal Audit in a prime offshore bank where his audit duties cover the 0830 Registration and Morning Coffee Course Timetable Singapore and Hong Kong operations of the bank. His 0900 Morning Session Commences 1030 Refreshments & Networking Break brief covers all areas of the bank’s audit of operations 1045 Session Commences and IT systems. Prior to this, he was Head of Operations 1230 Networking Lunch of a foreign bank. 1330 Afternoon Session Commences 1515 Refreshments & Networking Break In addition to being a Fellow Member of two 1530 Session Commences internationally recognised and leading UK Accountancy 1700 Course ends body, Tommy holds professional graduate diplomas from two Banking Institutes including the prestigious Chartered Institute of Bankers (UK). Disclaimer Due to the interactive nature of the learning session, the sequence and contents of the program maybe vary according to the needs Besides being a qualified fellow member of two of the participants. The speaker reserves the inalienable right and U.K. professional accounting bodies, he is also a the privilege to conduct the program in the manner which he thinks member of the Information Systems Audit and to be in the best interest of the majority of the participants. Please Control Association (ISACA) and Institute of Internal ensure that you understand this completely so as to prevent any form of unrealistic expectation and or disappointment in a public Auditors (USA). In this region, Tommy Seah is the only enrolment program that was not tailored to your specific need. Singaporean who holds the membership grade of Senior Associate of Malaysian Institute of Bankers. Please inform the ProEdge in advance if you are not agreeable or do not completely understand the above term and we will review your enrolment accordingly.
  4. 4. 24th - 25th February 2009 LOAN & MORTGAGE FRAUD: UNDERSTANDING, DETECTING & INvESTIGATION SALES CONTRACT BOOKING REFERENCE: PEG 178 How To Register Investment □ RM 3380 for two day workshop (inclusive of 5% gov tax) Contact ProEdge Global on □ Early Bird Price - RM2980 (RM400off from normal price) Tel: +603 2116 5671 Fax: +603 2116 5999 (Payment & registration received before 12th Dec 2008) Email: kenneth@proedgeglobal.com OR brenda@proedgeglobal.com □ Premier Group Discounts - Workshop Information For registration of groups of 3 or more booking at the same Date : 24th - 25th February 2009 time from the same company. * Corporate Group Discounts: Venue : Berjaya Times Square Hotel & Convention Centre, RM12000 for group of 5 pax Kuala Lumpur, Malaysia Please contact our Program Manager, Kenneth for more Our Address details on the Premier Group Discount scheme. Suite 33-01, 33rd Floor, Indemnity: Should for any reason outside the control of Menara Keck Seng, 203, Jalan Bukit Bintang, ProEdge, the venue or speakers change, or the event be 55100 Kuala Lumpur, Malaysia. cancelled due to an act of terrorism, extreme weather conditions or industrial action, ProEdge shall endeavour to reschedule but the client hereby indemnifies and holds Payment Method ProEdge harmless from and against any and all costs, damages Payment is required within 5 working days upon receipt of and expenses, including attorneys fees, which are incurred invoice by the client. The construction, validity and performance of Cheque: Made payable to ProEdge Global Sdn. Bhd. this Agreement shall be governed in all respects by the laws Bank Transfer: ProEdge Global Sdn. Bhd. of Malaysia to the exclusive jurisdiction of whose Courts the RHB Bank, Taman Sungai Besi Branch Parties hereby agree to submit. Account number: 21407100106079 Please quote our invoice No. Please Complete This Registration Form And Fax It Back To Us on +603 2116 5999 Confirmation: Once payment has been received a receipt will be issued. If you do not receive a letter with joining details please contact our Operations Coordinator. Name : This Course is Available for In-House Position : If you have a number of staff in your organisation who requires training, ProEdge also offers fully customised inhouse training Email : solutions. There are 5 benefits of inhouse training: © Copyright ProEdge Global Ltd. 2008 ProEdge reserve the right to alter program & speaker details. • Complete confidentiality in discussing your organisation’s Name : sensitive issues • You decide when and where the course takes place Position : • You can tailor the content and program to suit your particular needs Email : • No need to travel: inhouse training makes optimum use of your time Name : • No travel or accommodation costs to pay To find out more, please contact Kenneth on (+603) 2116 5671 or Position : email kenneth@proedgeglobal.com for more information. Email : Terms & Conditions Organisation : 1.Fees are inclusive of programme materials and refreshments. 2.Payment Terms: Following completion and return of the registration form, full payment is required within 5 days from receipt of invoice. PLEASE NOTE: payment must be Address : received prior to the conference date. A receipt will be issued on payment. Due to limited conference space, we advise early registration to avoid disappointment. A 50% cancellation fee will be charged under the terms outlined below. We reserve the right to refuse admission if payment is not received on time. 3.Cancellation/Substitution: Provided the total fee has been paid, substitutions at no extra charge up to 14 days before the event are allowed. Substitutions between 14 days and Postcode : the date of the event will be allowed subject to an administration fee of equal to 10% of the total fee that is to be transferred. Otherwise all bookings carry a 50% cancellation Tel : liability immediately after a signed sales contract has been received by ProEdge (as defined above). Cancellations must be received in writing by mail or fax six (6) weeks before the conference is to be held in order to obtain a full credit for any future ProEdge Fax : conference. Thereafter, the full conference fee is payable and is nonrefundable. Non- payment or non-attendance does not constitute cancellation. By signing this contract, the client agrees that in case of dispute or cancellation of this contract that ProEdge will not be able to mitigate its losses for any less than 50% of the total contract value. Authorisation If, for any reason, ProEdge decides to cancel or postpone this conference, ProEdge is not responsible for covering airfare, hotel, or other travel costs incurred by clients. The conference fee will not be refunded, but can be credited to a future conference. Event Name : programme content is subject to change without notice. 4.Copyright etc: All intellectual property rights in all materials produced or distributed by ProEdge in connection with this event is expressly reserved and any unauthorised Designation : duplication, publication or distribution is prohibited. 5.Important note: While every reasonable effort will be made to adhere to the advertised Signature : Date: / / package, ProEdge reserves the right to change event dates, sites or location or omit event features, or merge the event with another event, as it deems necessary without penalty and in such situations no refunds, part refunds or alternative offers shall be made. * Booking cannot be processed without a signature. In the event that ProEdge permanently cancels the event for any reason whatsoever, (including, but not limited to any force majeure occurrence) and provided that the Invoice To (Name): event is not postponed to a later date nor is merged with another event, the Client shall receive a credit note for the amount that the Client has paid to such permanently Email : cancelled event, valid for up to one year to be used at another ProEdge event. No refunds, part refunds or alternative offers shall be made.