Asia Pacific Fraud Journal (APFJ - Association of Certified Fraud Examiners, ACFE)
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ANALYSIS OF THE READINESS OF INDONESIAN PEOPLE AND REGULATIONS IN HANDLING FRAUD ON TECHNOLOGY EXPLOITATION
Get PDFThe development of information technology has a big influence in supporting business continuity among producers, consumers, distributors, and financial service institutions. The development of Financial Technology (Fintech) has now become a trend in modern society that follows the current developments. The positive side of technological development, especially in supporting fast and smooth financial services, can actually create a large gap in the readiness of the use of technology in the industrial revolution 4.0. Without strong preparation, this will increasingly create a big gap in the formation of the Fintech technology-based fraud chain. This paper discusses how a qualitative research using the grounded research model can find out the use of recht vacuum loopholes to commit fraud in the exploitation of technology. In addition, it also encourages the establishment of a regulation that supports the creation of a healthy Fintech ecosystem which is the main key in increasing Indonesia's economic growth. Factors influencing the occurrence of fraud include the lack of public knowledge about how to transact using Fintech, the looseness of applicable regulations, the arrogance of Fintech consumer in utilizing bug software Fintech to get profit as much as possible without thinking about legal consequences, the arrogance of the Fintech company in minimizing the large risks that will occur, and not maximum formation of the Fintech ecosystem with other traditional financial service institutions. The situation is exacerbated by the unavailability of the Whistleblowing System (WBS) through a complaint channel specifically for Fintech. The establishment of the Fintech ecosystem, with the adoption of an anti-fraud system as one of the factors that drive Indonesia's economic growth, can be done by creating a technology-savvy community, especially Fintech; making an integrity pact to support anti-fraud and anti-money laundering among regulators, the Fintech association, and the Fintech companies at the time of making official registration with the regulator; Regulators need to get rid of egotism between institutions by synchronizing verbally or nonverbally through technology channels that are automatically integrated between state institutions and preparing special channels for whistleblower systems or consumer complaints channel specifically for Fintech
THE EFFECT OF ORGANIZATIONAL CULTURE, LEADERSHIP STYLE, WHISTLEBLOWING SYSTEMS, AND KNOW YOUR EMPLOYEE ON FRAUD PREVENTION IN SHARIA BANKING
Get PDFThis study aims to get better knowledge on how to prevent fraud in sharia banking. The key factors in determining fraud prevention are organizational culture, leadership style, whistleblowing systems, and know your employee. This research involves 73 respondents in the scope of internal auditor. This research applies a survey using questionaire. The method used to process and analyze research data are descriptive analysis and multiple linear regression models. The results show that organizational culture has no significant effect on fraud prevention, but leadership style, whistleblowing systems, and know your employee have a positive significant effect on fraud prevention. Furthermore, organizational culture, leadership style, whistleblowing systems, and know your employee simultaneously have an effect on fraud prevention in sharia banking
CASHLESS GOVERNMENT: A CORRUPTION PREVENTION STRATEGY IN GOVERNMENT AGENCIES
Get PDFThe phenomenon of corruption cases continues to increase from year to year, both from the number of cases that occur and the amount of state financial losses incurred. The criminal acts of corruption committed are also increasingly systematic and massive in all aspects of society's lives. To respond to this phenomenon, the Government, in this case the Ministry of Finance, issued a "breakthrough" in the system of government expenditure transactions, by issuing cashless government system with modern payment instruments. The cashless payment system is expected to close the potential gaps of corruption arising from conventional payment systems using physical money. Transactions carried out with non-cash payment systems can be traced in full and in detail, starting from who the user is, when and where the transaction is conducted, what is the purpose of using the transaction, and what is the nominal value. The use of cashless payment instruments is also expected to be able to fulfill the principles of (1) flexibility, (2) safety in transactions and fraud avoidance, (3) effectiveness, and (4) accountability while paying attention to the precautionary principles in the use of state budget. The cashless government system is expected to be a solution to the acceleration of government performance and public services within the framework of presenting clean, transparent and accountable governance. In the end, improving the working system of government organizations is expected to be able to encourage economic growth and provide benefits for improving the welfare of the community
THE EFFECT OF INVESTIGATIVE, INDEPENDENT AUDIT AND DUE PROFESSIONAL CARE AUDITS ON THE EFFECTIVENESS OF THE IMPLEMENTATION OF FRAUD PROCEDURES MODERATED BY SOCIAL PRESSURE IN THE INTERNAL AUDIT DEPARTMENT OF PT. INDOAGUNG MULTIKREASI CERAMIC INDUSTRI & PT. WIJAYA DISTRIBUTION
Get PDFThis research is a study on "The Effect of Investigative Audit, Independent Audit and Due Professional Care Verification Procedures for Implementation Effectiveness Against Fraud which in moderation by Social Pressure". The dependent variable in this study is the Effectiveness of Implementation of Era Fraud (Fraud) Procedures, while the independent variable is the Investigative Audit, Independent Audit and Due Professional Care. Moderating variables using variable Social Pressure. The Internal Audit Department of PT. Indoagung Multikreasi Ceramic Industry. Samples that meet the criteria are as many as 60 respondents. A couple of stages. The first stage is to explore the theory of formulation of research problems and hypotheses. The second stage is the collection of data from the unit of analysis is researched. The Descriptive Test and Reliability Test, the fourth stage of the research hypothesis testing using multiple regression to test the hypothesis either partially or simultaneously. The fifth stage is the Social Pressure testing of the moderating effect, not weaken or diminished the effect of the Audit and Due Professional Care Verification Procedures of the Implementation Effectiveness Against Fraud (Fraud). The significant effect on the effect of the implementation of the procedure is that there is a significant effect on the effectiveness of the procedure. Effectiveness of the Implementation Procedures of Evidence Fraud (Fraud). Simultaneously Investigative Audit Variables, Independent Audit and Due Care Professionals have significant effects on the procedures for Implementation of Evidence Fraud (fraud). Moderation of Social Pressure Able to weaken the influence of Investigative Audit, Independent Audit and Due Professional Care of the Effectiveness of the Implementation Procedures of Evidence Fraud (fraud
LEADERSHIP IN GOOD CORPORATE GOVERNANCE (GCG) AS A ROLE MODEL OF ANTI-FRAUD CULTURE
Get PDFThe presence of Good Corporate Governance (GCG) in Indonesia is one of the solutions in creating activities that can help to avoid any form of scandal in the company including fraud. However, the reality of Good Corporate Governance (GCG) to date has not been fully implemented. The rules of Good Corporate Governance (GCG) itself can not necessarily be applied well by the parties in the company. It takes a leadership and maximal support from regulators in the form of legal umbrella that is expected to create an anti fraud culture in the implementation of Good Corporate Governance (GCG). In order to succeed, an organization requires a strong leader. The success and the failure of an organization are determined by its leader. It takes a leader who is able to carry out collaboration, inspire and motivate subordinates he leads because leadership is the main factor of the success or even the failure of an organization. In addition, a positive leadership type will also form a positive culture in a company that will eventually become a role model of anti fraud culture
THE GOVERNMENT'S INTERNAL AUDIT PLANNING STRATEGY IN PREVENTING CORRUPTION IN THE PROCUREMENT SECTOR IN THE ERA OF DISRUPTION
Get PDFThis study aims to disclose not only the APIP's internal audit planning strategy in accordance with the mandate of the SAAIPI 2014, Law 30/2014, Law 23/2014, Government Regulation 60/2008, Presidential Regulation 16/2018, Presidential Regulation 54/2018, but also the synergy strategy among APIP, LKPP and APH in preventing corruption in the procurement sector. The research method used is a qualitative method with the literature studies, surveys, and retrospective studies. The results show that the mandate of internal supervision can be identified through the relationship matrix between SAAIPI 2014 and several regulations. The strategy in the synergy of supervision planning conducted by APIP, LKPP and APH can be determined through a SWOT analysis of the role of APIP. There are 4 choices of strategies for optimizing the role of APIP. APIP that has a capability score of 3 can use the SO and ST strategies. Whereas APIP that has capability scores of 1 and 2 can use the WO and WT strategies. Whole of Government can be built by APIP, APH and LKPP, either in the form of coordination between institutions, the formation of task forces, or social coalitions
DETECTION OF FRAUD INDICATIONS IN FINANCIAL STATEMENTS USING FINANCIAL SHENANIGANS
Get PDFThis study aims to empirically test the detection of indications of financial statement fraud based on financial shenanigans. Financial shenanigans are proxied by the growth in days' sales outstanding, cash flow from operating divided by net income, and accounts receivable divided by sales. Indication of financial statement fraud is proxied by the F-Score model. This research was conducted at oil and gas companies in Indonesia and Malaysia. Hypothesis testing used multiple linear regression analysis. The test was carried out in three steps, namely testing on Indonesia and Malaysia, Indonesia, and Malaysia. The results of this study found evidence that the growth of the days' sales outstanding is significant to the indication of financial statement fraud in Malaysia. Another result is that the growth in a collection period, cash flow from operating divided by net income, and accounts receivable divided by sales is not significant if tested separately for Indonesia and Malaysia and Indonesia
FRAUD RISK MANAGEMENT: AN ANTI-FRAUD MODEL FOR TOURIST ACCOMMODATION IN BALI
Get PDFThis study aims to examine fraud in hotels by developing a Fraud Risk Management (FRM) design. FRM is developed through several stages, including preliminary analysis, preparing the initial design of the FRM, testing the implementation, making correction, and preparing the final design of the FRM. The research method used in this study is a qualitative method by combining Research and Development (R&D) methods. Data collection is done through interview, observation, and documentation techniques. Data analysis method is carired out through data reduction, data presentation, and drawing conclusions. The data sources used in this study are primary data and secondary data. The results of this study show that basically both types of hotels have the same potential for fraud but with different business processes. The FRM design implemented can be divided into 2: general design and specific design. There are some corrections which can finally result in FRM design in accordance with the conditions of each hotel.Â