October. 2003

                                               http://www.china-investigation.com

CEO and Global operation director of The Steele Foundation visited Steele Office on October 13, 2003.

The secretary of WIN invited Steele president to present the next year Annual Conference in Sydney , Australia .

On October 12, 2003, Steele participated in Credit Beijing Forum of The 4th Beijing Chaoyang International Business Festival, which sponsored by Organizing Committee of the Fourth Beijing Chaoyang International Business Festival, Beijing Youth Daily, and International Financial Newspaper.

ACFE Hong Kong Chapter invited Mr. Hai Yang to attend the Hong Kong meeting holding on October 22, 2003.

Nominations open for three positions on the ACFE's 2004-2005 Board of Regents. ACFE invites all members to submit the nomination.

<<Authorization Regulations of People’s Republic of China >> will put in force since November 1, 2003 passing by The 18th Standing Conference of State Department dated on August 20, 2003.

Shenzhen Health Medicine (Group) Co., Ltd. (Taitai Medicine) will provide the fund to participate the construction of China Da Di Property Insurance Co, Ltd., and the main sponsor is China Reinsurance. Taitai Medicine invests in insurance industry, which is a bold attempt for medicine industry entry into financial industry.

The top known credit rating organization --- Standard & Poor’s is intending to set up the first office in China, also will present its first evaluation report of China insurance market.

Manulife-Sinochem recently sets up Insurance College of Manulife-Sinochem for promoting the entire quality and professional knowledge of its employees and agents. It is said that the College covers four institutes, which are Marketing Institute, Management Institute, Financial Institute, and Educational Institute.

On July 18, 2003 Japanese Congress got across Modification Law of Insurance Industry, which was put in practice on August 24. It is to avoid bankrupt of more insurance companies.

Some Warning Signs of Occupational Fraud

There are often subtle (and not-so-subtle) clues that fraud is afoot. By being aware of what these warning signs are, you can be alert to them and possibly help avert a loss from fraud in your company.

1. Accounting Irregularities
If the fraud is big enough, it will usually show up somewhere in the company's books and records. For example, when a company adds millions of dollars in phony inventory, it make the chain's profits look abnormally high. And at the same time the company was showing record profits, it did not have enough cash on hand to sustain its operations. One of the first clues to trouble is a company showing record "profits" but no money.

2. Rule-breakers
Breaking rules includes ignoring generally accepted accounting principles when preparing the company's financial statements and routinely violating the retailer's own written set of internal controls for his/her own purposes.

3. Big Spenders
Big spending has led to the discovery of countless fraudsters. Some of the stories border on the absurd: A crooked banker who had the company jet fly to France regularly to bring back chefs to cook special dinners for him and his guests; a clerk for an insurance company that frequently took her co-workers to lunch in a limo; a middle-level supervisor who bought a multi-million dollar mansion adjacent to a golf course.

4. People With Financial Problems
Just like big spenders, people with financial problems may be more motivated to commit occupational fraud. While most of us with money woes do not steal, some do. In one case for example, two employees worked in the same office. One of the workers could ill-conceal the fact that she was receiving constant telephone calls from creditors demanding money. But one day, the calls simply stopped. Later, the co-worker discovered why: She saw her colleague steal a company check and put it in her purse. Even though it was difficult to do, the co-worker turned her friend in.

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