Stop the bleeding: How Asean governments can prevent further losses from fraud
Scandal, corruption and fraud have long plagued government institutions across Asean, with the infamous 1MDB scandal in Malaysia and other high-profile scandals leaving a bitter taste in the mouths of citizens.
These issues caused a range of consequences for the economy, society and governance. Unfortunately, many cases of fraud or scandal are not discovered until significant financial losses have occurred — normally costing millions or even billions of taxpayers’ money, leading to public outrage and loss of trust in government institutions.
Current situation
Governments have doled out strict punishments to offenders in standard cases across the region. However, fraudsters and scammers are never fearful of the consequences and will never stop looking for potential gaps that could help them “earn” quick money…….
Advanced technologies that could help
This is the reason government officials must be vigilant in identifying potential signs of fraud and have the necessary tools and resources to investigate and address any suspicions on time……
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