— Hundreds of financial experts collaborate on combating fraud and financial crime
The Association of Certified Fraud Examiners (ACFE) Liberia Chapter has launched a three-day Anti-Fraud Symposium aimed at tackling corruption, fraud, and underdevelopment in Liberia, while also working to bolster institutional capacity for sustainable economic growth.
The conference, held from November 13-15 at the Liberia Maritime Authority’s headquarters, brings together financial professionals to address fraud reduction nationwide.
With a theme of “Together, Reducing Fraud Nationwide,” the symposium gathered financial stakeholders from both the public and private sectors, including internal and external auditors, banking and business professionals, accountants, detectives, investigators, risk managers, compliance officers, and other industry experts. The program also provided an opportunity for Liberia Maritime Authority CEO, Cllr. Neto Zarzar Lighe, to give remarks and present on “Detecting and Investigating Maritime Fraud.”
The conference’s objective is to create a platform that refreshes and broadens participants’ understanding of modern fraud investigation techniques while encouraging financial professionals to work with integrity and rigor. It also enables attendees to network, share experiences, and discuss relevant issues impacting their organizations.
Founded in 2012 and officially accredited as Chapter #198 by ACFE, Inc. in 2014, the ACFE Liberia Chapter is an affiliate of the world’s largest anti-fraud organization, headquartered in Austin, Texas, USA. The global ACFE provides training and education on fraud prevention and detection.
In his opening remarks, ACFE Liberia Chapter President, Atty. Augustine G. Chenoweth, commended attendees for their commitment to reducing fraud and white-collar crime. He emphasized the ACFE’s mission to assist members in fraud detection and deterrence. Chenoweth explained that occupational fraud—characterized by deception and aimed at depriving individuals or organizations of money or property—causes billions of dollars in damages globally each year, affecting companies, governments, and individuals alike. He noted that common fraud schemes include asset misappropriation, financial statement fraud, and corruption.
“In many cases, financial statement fraud involves company executives either understating earnings to evade taxes or overstating them to attract investors. Regulatory bodies must scrutinize companies’ financial statements to protect stakeholders from resource deprivation,” Chenoweth stated.
Liberia Maritime Authority Commissioner Cllr. Neto Zarzar Lighe expressed gratitude to the ACFE Liberia Chapter for hosting the symposium and encouraged institutional leaders to view financial experts and auditors as essential partners in maintaining standardization and transparency. Lighe shared that, upon assuming his role, he implemented a risk assessment process within the Maritime Authority to support auditors in conducting thorough evaluations before reporting to the internal audit department.
“I extend my appreciation to everyone here. Addressing fraud is crucial. As my colleague from GAC often says, their mission is to combat waste and abuse—something I strongly support. Fighting fraud supports those of us in leadership who might not be experts in every aspect of the procurement process. My door is always open to support this important work,” Lighe concluded.
