Home' Trinidad and Tobago Guardian : May 28th 2015 Contents BG10 VERBATIM
BUSINESS GUARDIAN www.guardian.co.tt MAY 2015 • WEEK FOUR
e opment of aN
OUTDOOR RECREATION CENTRE
the Piarco AeroPark
TrINIDAD AND TOBAGO
Development of aN
OUTDOOR RECREATION CENTRE
at the Piarco AeroPark
TrINIDAD AND TOBAGO
Airports Authority of Trinidad and Tobago ('the Authority')
invites suitably qualified firms and individuals to submit
proposals for leasing and developing land at the Piarco
AeroPark for an Outdoor Recreation Centre. This is an
attractive opportunity to operate in one of the most
high-traffic areas in Trinidad and Tobago.
The Piarco AeroPark is the first aerotropolis or airport city in
the Caribbean. It will contain zones for various activities
Copies of the RFP can be obtained from 1st May 2015
between 8:00 a.m. and 4:00 p.m. at the Cashier's Booth,
Airports Authority Administration Centre, Piarco International
Airport, South Terminal, Golden Grove Road, Piarco, Trinidad
and Tobago upon payment of a non refundable fee of
US$200.00 plus VAT.
A Pre-Proposal Conference and Facility Tour will take
place at 10:00 a.m. on 1st June 2015 at the following address:
Proposers and their representatives are encouraged to attend
the Facility Tour to acquaint themselves with the conditions
therein which may influence their proposals.
The deadline for submission of proposals is 6th October
2015 @ 2:00 p.m. AST. Late submissions will not be
The Authority does not bind itself to accept the lowest or any
Questions or requests for further information should be
The Secretary Tenders Committee
The subject line should read
As we approach the first Caribbean Fraud Con-
ference to be held on June 8-9, understanding the
genesis of fraud was one of the areas we felt we
should share with readers.
Fraud involves three components: rationalisation,
opportunity and pressure. These three elements---
known as the fraud triangle---are considered the epi-
centre of every fraud. Every time fraud occurs, the
same question is asked: how could this have hap-
Sharon was the manager of a financial institution
for more than 30 years. Her intimidating personality
often left her decisions unchallenged by both staff
and members of the board. While reviewing cheques
for the day, a teller noticed that a cheque bearing
the name of a customer was deposited into the man-
ager s account. When he raised the issue with the
manager, the matter was quickly dismissed as a repay-
ment of funds owed by the customer.
Feeling unsettled with the response by the manager,
the teller notified a member of the board who request-
ed an investigation into the matter.
Over a five-year period, funds totaling $250,000
were taken from customers.
The funds that were fraudulently taken represented
insurance benefits that customers were entitled.
Cheques received by the financial institution for
customers were, in some instances, entirely deposited
into the manager s account and, in other instances,
a portion of the funds was taken.
The manager had access to the teller s function
and would often conduct her own transactions.
The operating technological system did not require
a detailed description of transactions.
The financial institution did not conduct inde-
pendent fraud risk assessments to determine the
areas of vulnerability within the organisation
The institution relied on the manager to reconcile
transactions in a timely manner
The manager felt she was not adequately com-
pensated for the work she did.
The manager incurred substantial debt.
The manager desired a certain lifestyle not sup-
ported by her salary.
While it is difficult for potential victims to predict
and understand someone s rationalisation and thresh-
old for pressure, the major risk-mitigating factor is
diminishing opportunity. There are many ways in
which the opportunity for fraud can be minimised.
This and several other topics including data recovery,
dynamic characteristics of signatures, polygraph
testing and fraud & national security will be presented
at the first Caribbean Fraud Conference, to be held
on June 8-9 at the Hilton Trinidad Hotel & Conference
Centre. This timely conference is hosted by the T&T
Coalition of Services Industries and the Global Forensic
For more information on the conference call
622-9229 ext. 27 & 28 or visit our Facebook page
or register at www.ttcsi.org and for fraud min-
imisation, call us today at 822-6093.
The genesis of fraud
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