Case Studies: Wirecard reluctant whistleblower and other financial deceptions

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15
Oct 2024

9:00 am - 5:30 pm

Registration closing date is 3 business days before the programme date or when all seats are fully taken. The listed price is intended for Malaysian participants only. If you are a non-Malaysian, we kindly request you to reach out to Mr. Nor Effendi Othman at EffendiO@sidc.com.my for further information.
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Case Studies: Wirecard reluctant whistleblower and other financial deceptions

The Wirecard scandal, one of the largest financial frauds in recent history, unraveled a complex web of deceit, corruption, and corporate misconduct. At the heart of this scandal lies the story of a reluctant whistleblower, an individual who, despite facing significant personal and professional risks, chose to expose the truth. The story of the reluctant whistleblower in the Wirecard scandal highlights the need for robust protections and support systems for individuals who risk their livelihoods to expose wrongdoing. The reluctant whistleblower’s bravery not only brought justice to those involved in the fraud but also served as a powerful reminder of the impact one individual can have in the fight against corruption. Additionally, the incidence of false or misleading financial statements is growing, underscoring the need for regular reminders about the importance of detecting such inaccuracies, as well as the potential penalties and consequences.

Programme Delivery

Programme Objective

This programme is designed to provide participants with insights into Wirecard’s fraudulent practices and the critical role whistleblowers play in maintaining corporate accountability as well as how misleading financial statements impact business organisations.

Mode

TBC

 

Target Audience

Individual

Directors, C-Suites, Legal Professionals, Compliance Officers, Risk Management Officers, Internal Auditors, Governance Officers, Professionals undertaking corporate advisory work, academia who are interested to keep abreast on capital market regulations, market conduct and practices.

Institutions

Capital Market Intermediaries, Public Listed Companies (PLs), Regulatory and Supervisory Bodies.

 

Learning Outcomes

Upon completion of this programme, the participants will be able to:

  • Analyse the whistleblower’s actions, motivations, as well as the challenges and implications faced arising from Wirecard scandal

 

  • Discuss the laws and regulations related to market misconduct, the enforcement process, penalties and the disciplinary actions imposed by the regulators and its impact to organisations.
  • Discuss key lessons from Wirecard scandal that can be applied to enhance corporate governance structures and improve protections for whistleblowers.

Competencies

  • Core – Risk Management (Proficiency Level 3)
  • Core–Corporate Governance (Proficiency Level 3)
  • Functional (Process) – Compliance (Proficiency Level 3)
  • Foundational (Regulatory)–Anti-Money Laundering (Proficiency Level 3)

Programme Outline

9.00 am The Case of Wirecard Scandal

  • Timeline of events leading to the exposure of the fraud
  • What were the key factors that allowed the Wirecard fraud to go undetected for so long?
  • What role did the whistleblowers play in uncovering the scandal
  • Steps taken to uncover and report the fraud
10.45 am Coffee Break
11.00 am The Wirecard Saga: Key Lessons for Corporate Governance

  •  Challenges and risks faced by the whistleblower
  • Consequences for Wirecard and its stakeholders
  • How did the company and regulatory bodies respond to the whistleblowers?
  • What lessons can be learned to improve corporate governance and whistleblower protection
  • Analysis of the aftermath: legal actions, company collapse, and regulatory change

Speaker: Pav Gill
12.00 pm Exclusive Q&A with Pav – No Holds Barred
12.30 pm Lunch
2.00 pm Inix Technologies Holdings Bhd: A Legal and Ethical Examination of Corporate Governance Failures and Financial Misconduct

  • Chronological of the case
  • Analysis of the offence and summary of charges
  • Legal penalties
  • Consequences of misleading financial statements on the
  • company and stakeholders

Megan Media Holdings Berhad Case: False Reporting and
Sentencing

  • Chronological of the case
  • Analysis of the offence and summary of the charges
  • Legal penalties
  • Consequences of providing false information to the
    company and stakeholders
3.30 pm Break
3.45 pm The Case of Gan Boon Aun and Transmile Group Bhd – From
High Court to Appeal

  • Chronological of the case
  • Analysis of the offence and summary of the charges
  • Legal Proceedings: From Sessions Court to Court of
    Appeal
  • Consequences of misleading financial statements on the
    company and stakeholders
  • Role of the Securities Commission and legal standing in
    appeals

Accountability in Action: The Transmile Case

  • Chronological of the case
  • Analysis of the offence and summary of the charges
  • Legal Proceedings: From Sessions Court to Court of
    Appeal Case Facts and Proceedings:
  • Legal penalties
  • Consequences of misleading disclosures on the company
    and stakeholders


Speaker: Lee Min Onn
5.30 pm End of Programme
*The SIDC reserves the right to amend the programme as deemed appropriate without prior notice

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