Second day of ACFE Fraud Conference Middle East 2019 explores cybersecurity and fraud risk management

Abu Dhabi, UAE: A keynote address by Ian Yip, Chief Technology Officer, Asia-Pacific for McAfee - one of the world's largest security technology companies – was a key highlight of the second day of the 2019 ACFE Fraud Conference Middle East, the three-day anti-fraud and corruption forum hosted by the Abu Dhabi Accountability Authority (ADAA).

Yip’s participation at the conference, which runs from February 24 to February 26, 2019 in Abu Dhabi, saw him deliver a presentation on data security risks, with his speech attracting hundreds of attendees who have gathered at the event to hear from international leaders in the sectors of cybersecurity, compliance, corporate governance and business ethics.

“The accelerated digitisation of the world has made cybersecurity a mainstream issue whether people realise it or not. Increasingly, fraudulent activities will be perpetrated by criminals through the use of digital means and by exploiting security vulnerabilities. While the foundational aspects of preventing and investigating fraud will continue to be relevant, understanding the current and future state of cybersecurity adds another weapon to our arsenal in our fight against criminals who profit through fraudulent activities,” said Yip.

“Unfortunately, cybersecurity is often presented in a highly technical manner and sensationalised as a ‘dark art.’ This does not need to be the case. I hoped that my address articulated the current state of cybersecurity to attendees in a digestible manner by exploring relevant aspects of the cybercriminal underworld and outlining where cybersecurity is headed to better arm the audience in preparing for the future,” he added.

“We are delighted to host renown experts at this year’s 2019 ACFE Fraud Conference Middle East, with Ian Yip being a prime example of the calibre of global experts sharing their experiences and expertise. He joined his peers of industry-recognised specialists who are sharing their knowledge in the areas of data protection, threat management and governance all of which reflect aspects of our work to enhance transparency and governance at subject entities,” said H.E. Hamad Al Hurr Al Suwaidi, Chairman of ADAA.

Conference attendees have already taken part in variety of activities at the forum, including a panel discussion on enhancing fraud risk management strategy. One of the panelists, Charanjeet Singh, Senior Vice-President and Head of Fraud Risk and Investigation for First Abu Dhabi Bank, stressed the importance of robust fraud risk management and also highlighted the importance of the conference for Abu Dhabi.

“Having a fraud risk policy in place or creating a team to fight fraud is not enough, you need to also adopt a solid risk plan and to implement it properly across the organisation. Regular awareness initiatives for staff and customers is crucial as well in the fight against fraud. The fact that Abu Dhabi is hosting this conference is a testament to the zero-tolerance policy that the emirate adopts towards fraud, and it is our duty as a leader in the sector to support the government’s efforts - that is why fraud and risk management are key priorities for us as a bank,” he said.

With nearly 85,000 members in more than 180 countries, the Association of Certified Fraud Examiners (ACFE) is the world’s largest anti-fraud organisation. A premium provider of anti-fraud training and education, ACFE works to reduce business fraud worldwide and inspire public confidence in the integrity and objectivity of the counter-fraud profession. ACFE membership provides anti-fraud professionals with the knowledge and tools needed to help detect, deter and prevent fraud, specifically by providing qualifications through administration of the CFE Examination.

ADAA plays a major role in Abu Dhabi government’s commitment to combatting financial malpractice, promoting transparency and advocating for good governance. The emirate has introduced new financial examination and performance review methodologies for more than 250 government-owned entities and has taken a leading role in regulating the global audit market. Abu Dhabi’s success in fighting fraud led to it winning the Outstanding Contribution award in 2013 from the UK’s Institute of Chartered Accountants.

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About the Abu Dhabi Accountability Authority (ADAA):

The Abu Dhabi Accountability Authority (ADAA) vision is to “Excel in Safeguarding the Public Funds” and its mission is “Promoting Accountability and Transparency through Objective Assurance and Advisory Services”.

ADAA was established under law No. 14 of 2008 issued by HH Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE and the Ruler of Abu Dhabi, replacing the Abu Dhabi Audit Authority. ADAA operates as an independent body operating under the authority of HH Crown Prince of Abu Dhabi.

ADAA also seeks to provide strategic consultancy, verifies the validity of financial reports, and ensures the compliance of Abu Dhabi government entities with the laws, regulations and rules of governance, in accordance with the highest international standards.

ADAA’s jurisdiction covers nearly 300 government entities, including government departments, councils, authorities, state owned entities, in addition to investments held by the Government of Abu Dhabi.

© Press Release 2019