fraud in mining whistleblowing system

3 Types of Fraud in the Mining Industry

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Fraud can occur in companies from any field, both from profit and non-profit companies. According to Report to The Nation 2020, there are 23 industries that experience fraud cases, with the biggest fraud losses occurring in the mining industry — although there were only 26 reported cases of fraud, the losses have reached $ 475,000. There are at least three common frauds that occur in the mining industry, such as: Financial statement fraud…

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whsitleblowing system

Effectiveness of Website-Based Whistleblowing System

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For many years, telephone-based whistleblowing was considered to be the most popular complaint channel. In recent years, many companies have shifted to website-based whistleblowing. According to Report to The Nation 2020, the use of website-based whistleblowing has fairly increased in just over two years by 11%, from 23% to 32%. acfeinsights.com conducted a survey during the Anti-Corruption Conference in 2016…

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costliest fraud

What Your Company Can do to Deter the Costliest Fraud

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In 2019, Garuda Indonesia airlines were proven to have manipulated their financial statements. As reported by Okezone.id, the Garuda Indonesia Group posted a net profit of USD 809.85 thousand or equivalent to Rp11.33 billion. This figure jumped sharply compared to 2017 when they suffered a loss of USD 216.5 million. However, their financial statements caused a polemic until they were…

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whistleblowing protection

Does Your Company Need to Provide Financial Incentives for Whistleblowers?

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On April 1, 2019, White House Security Adviser Tricia Newbold revealed that there were serious violations in the administration of security permits against a number of US President Donald Trump’s staff. As reported by AFP and Sky News, the refusal of granting permission to access confidential documents is related to conflicts of interest, personal background, to involvement with other countries….

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financial record fraud

The Whistleblowing System in Preventing Financial Statement Fraud

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The pressure of achieving business targets under the global crisis may drive employees to falsify financial statements.  An executive level employee may make a falsified financial statement to hide the company’s bad financial circumstances due to significant unachieved business targets. Or an employee may see the relaxed control during the crisis as a perfect time to embezzle or corrupt the…

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whistleblowing

Early Fraud Detection in Higher Education Institutions

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Higher education institutions are often seen as hubs of advanced ethical thinking, so the idea that universities can also commit fraud is hard to believe by our community. In fact, fraud can occur within the scope of educational institutions and even research institutions. Fraud in higher education institutions According to a study released by the Association of Certified Fraud Examiners,…

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whsitleblowing

A Whistleblowing System to Create Good Corporate Governance

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The dynamic business world requires companies to be flexible and able to respond quickly to changes in the market. Especially when the world is facing the Covid-19 pandemic as it is today. Given this dynamic condition, companies are required to consistently implement Good Corporate Governance (GCG). According to the Business Dictionary, Corporate Governance is the framework of rules and practices by which…

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RECENT ARTICLES

August 5, 2020 in Articles

3 Types of Fraud in the Mining Industry

Fraud can occur in companies from any field, both from profit and non-profit companies. According to Report to The Nation 2020, there are 23 industries that experience fraud cases, with the biggest fraud losses occurring in the mining industry — although there were only 26 reported cases of fraud, the losses have reached $ 475,000. There are at least three common frauds that occur in the mining industry, such as: Financial statement fraud…
Read More
August 5, 2020 in Articles

Effectiveness of Website-Based Whistleblowing System

For many years, telephone-based whistleblowing was considered to be the most popular complaint channel. In recent years, many companies have shifted to website-based whistleblowing. According to Report to The Nation 2020, the use of website-based whistleblowing has fairly increased in just over two years by 11%, from 23% to 32%. acfeinsights.com conducted a survey during the Anti-Corruption Conference in 2016…
Read More
July 9, 2020 in Articles

Why Nonprofit Organizations are Vulnerable to Fraud Risk

The fraud risk matters for all companies and organizations, including nonprofit organizations. Data from Report to The Nation 2020 shows that fraud cases recorded as many as 191 cases with corruption cases took first place as much as 40% and were followed by billing and cost reimbursement cases. The estimated non profit losses have the smallest average of $ 75,000…
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July 9, 2020 in Articles

The Driving Factors of Potential Fraud in Sales and How to Prevent it

The Covid-19 pandemic increases the threat of fraud more than ever before. Where sales have become one of the business process areas that are exposed to the threat of fraud. How does fraud occur in sales and what can we do to prevent it? In a webinar titled " There is always somebody ready to take unfair advantage of a…
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July 9, 2020 in Articles

What Your Company Can do to Deter the Costliest Fraud

In 2019, Garuda Indonesia airlines were proven to have manipulated their financial statements. As reported by Okezone.id, the Garuda Indonesia Group posted a net profit of USD 809.85 thousand or equivalent to Rp11.33 billion. This figure jumped sharply compared to 2017 when they suffered a loss of USD 216.5 million. However, their financial statements caused a polemic until they were…
Read More