Austin, Texas, U.S. (September 20, 2019) — Although the 1MDB scandal first came to light in 2015,
the effects are still being felt in the Asia-Pacific region today. “It’s become
clear that banks and other financial firms in Singapore and Hong Kong are
facilitators of fraud,” said best-selling author Tom Wright. “Singapore took
action to jail some bankers, but Hong Kong has yet to act. Both places will
have to take further action to ensure bad actors don’t continue to operate on
their soil, but this is unlikely.”
Wright, the former Asia Economics Editor for the Wall
Street Journal, will address hundreds of anti-fraud professionals in Singapore
at the 2019 ACFE Fraud Conference
Asia-Pacific. He believes that accounting practices in the region
contribute to fraud. “One of the major problems in Asia is the poor quality of
auditing. Often local affiliates of the Big Four are barely supervised by head
office, and local standards of auditing are lax to say the least,” he said. “Fraud
is pervasive in this region, and any deal needs to be viewed with skepticism,
even if it has the backing of governments.”
Attendees will gather at Marina Bay Sands on 25-27
September to hear from Wright, as well as other thought leaders like Eric Lam,
the director for the Asia-Pacific and Japan for Microsoft’s cybersecurity
solutions group, Yuen Teen Mak, an associate professor of accounting at the
National University of Singapore, and others.
Concurrent sessions will include discussions about emerging
data analytics and tools, conflicts of interest, blockchain technology,
anti-bribery compliance and more. This conference is an invaluable opportunity
to hear from today’s anti-fraud leaders and for journalists in the region to
meet and cultivate expert sources for future stories.
for more information.
About the Association of Certified Fraud Examiners
Based in Austin, Texas, the ACFE is the world's largest anti-fraud organization and premier provider of anti-fraud training and education. Together with more than 85,000 members, the ACFE is reducing business fraud worldwide and inspiring public confidence
in the integrity and objectivity within the profession. For more information, visit ACFE.com.