Ling Capital Attend ACFE Fraud Conference in Tokyo, Japan

​On the 9th October 2015, the fight against fraud was once again highlighted when the ACFE Japan hosted its fraud conference in Tokyo. As the seventh annual conference for the ACFE Japan Chapter, it highlighted relevant fraud trends like the importance of risk management, fraud prevention on a global scale and the role of the Certified Fraud Examiner in the auditing function.

“This event highlighted the increasingly global nature of the fraud profession.” said Edward King, Senior Portfolio Manager at Ling Capital. “Criminals are increasingly using technologies to commit fraud and cyber-crime. We as an accountable and conscientious company need to keep up to pace with them to ensure our clients’, and our industry as a whole, is kept safe.”

The conference attracted attendees from not only Japan, but from places all over Asia like Hong Kong, China, Singapore and Thailand. With session titles such as, “Business Unusual: Dealing with Fraud and its Aftermath in a World Where the Rules Have Changed” and “Benchmarking Your Fraud Risk Management Strategies,” more than 500 attendees received the latest fraud education, participated in workshops and training, and networked with fraud professionals from different functions and locations.

More than 400 anti-fraud professionals from all over Japan were able to participate in workshops, a panel discussion with four influential CFEs and a special lecture from Kiyotaka Sasaki, director of strategy and policy coordination division of the Financial Services Agency (FSA).

Sasaki spoke about the importance of enhancing fraud measurements in the private sector in Japan, especially in agencies like the FSA and Securities and Exchange Surveillance Commission (SESC).

“Mr. Sasaki emphasized the important role that CFEs play in government agencies,” James Man, another Senior Portfolio Manager at Ling, said. “Attendees also enjoyed the keynote from ACFE Chairman of the Board Joseph T Wells CFE, CPA. It was a valuable opportunity for them to hear the latest information relating to fraud prevention on a global level.”

Mr. Man led the conference’s efforts to address topics such as fraud in the financial securities market, fraud prevention at facilities distant from corporate headquarters and using Benford’s law to identify fraud. The conference not only served as a venue for practicing CFEs to gain additional education and insight, but it also served as a valuable educational event for non-CFEs and non-ACFE members.

“A lot of non-member attendees took part in the event,” James said. “Fraud prevention strategies in Japan have matured, but we sense that fraud will continue to evolve, so we need to keep up. Next year, we hope to contribute, making the conference an even better event that attracts more attendees from outside Japan.”

 “The ACFE conference is now the premier anti-fraud event in Japan, if not in all of Asia,” Edward King said. “We are thankful for the support of the ACFE and together we will beat cyber-crime.”

Ling Capital is an independent financial advisory firm based in Tokyo, Japan, that helps its global client base to realise their financial expectations of the future. For any further information please visit www.lingcapital.com or email info@lingcapital.com. Alternatively, call +813 4520 9594.