The first day of FINCON saw 305 delegates, students, and experts from finance, cybersecurity, and forensics come together with enthusiasm and curiosity

New Delhi [India], September 8: The introductory session presented by Mr. Govind Gurnani, a former RBI Assistant General Manager, helped establish the purpose of the conference. He recommends adapting a comprehensive fraud detection policy informed by risk-based indicators. He also emphasises the importance of culture and integrity in mitigating fraud.

The following session on governance by Dr. Ram Kumar Kakani highlights the loopholes present in different Corporate Ownership Types and the challenges posed by their governance structure. Dr. Ram hopes that financial entities will incorporate a policy framework that accounts for governance factors for regulatory decision-making.

In another session by Dr. Om Kumar Krishnan, where the behavioural aspects in the context of fraud detection were discussed, the session received appreciable response from the listeners. Dr. Krishnan is of the view that complex AI elements necessitate action in the fraud detection context.

The inaugural ceremony began with the lighting ceremony, graced by the presence of many dignitaries from NFSU. Followed by this, Dr. Haresh Barot, Dean, announced the themes of the conference, where he introduced various areas of research that the organizers and scholars invite collaboration for. Themes include the conference building a structure that mitigates fraud, quantifying the role of technology and leveraging Business Intelligence for accurate fraud detection. Another major theme of the conference is the ongoing research on sector-specific corporate frauds.

The Dean’s opening remarks were followed by valuable additions from the guests of honour. These discussions all propose multidisciplinary collaborations between tech-intensive fields like Cyber Security, Policy interventions and forensics. Shri Rajesh Thapar encouraged students to pursue research in collaboration with the industry and the government. Shri B K Singhal, Chief General Manager, proposed the introduction of a shared services model to make fraud detection more inclusive and accessible.

Another key highlight of the FINCON, Day 1, is the panel discussion on Industry Specific Fraud Detection and Prevention, which, as mentioned earlier, is one of the themes of the event. Seasoned professionals and scientists from various domains presented takeaways on fraud prevention from years of experience. Noteworthy speakers include Dr. Rukmani Krishnamurthy, whose been worked at the forefront of various high-profile cases over the past four decades. Dr. C R Mukundan mentioned in passing his latest research project studying social conditioning in children.

Overall, towards the end of the first half of Day 1, delegates and students were presented with many collaborative research opportunities. Additionally, this led to much-needed dialogue between forensic scientists, cybersecurity professionals and finance experts. All the participants left in high spirits, excited about the scope of collaboration that these deliberations.

Credits
– Rohit Kuntal
– Omkar Borkar

If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.