Budi Santoso is a senior director in the Business Intelligence and Investigations practice of Kroll, a division of Duff & Phelps based in the Singapore office. Budi has more than 13 years of experience in Indonesia conducting complex corruption and money laundering investigations, asset tracing, and litigation support. He is also experienced in designing, implementing, and evaluating anti-fraud programs (both prevention and detection), fraud risk assessments, internal control assessment and improvement, compliance due diligence, U.S. FCPA and UK ABAC reviews, procurement process reviews, and corporate governance reviews. An experienced trainer, Budi has also led several anti-fraud and investigation unit transformations.
Budi has advised and assisted a wide range of clients, such as government institutions (Indonesian Central Bank, Finance Ministry, law enforcement agencies, local governments, etc.). He has also advised state-owned and private companies in the oil and gas, financial services, mining, cement, healthcare, and pharmaceutical industries.
Budi served at the Indonesian Corruption Eradication Commission (KPK) for 10 years, acting in various roles, including as Head of the Commissioner Office and Head of the Prevention Secretariat, as well as serving as an examiner and investigator. Prior to joining Kroll, Budi was a Senior Manager in the Fraud Investigation and Dispute Services team at Ernst & Young Indonesia. In the professional community, Budi is also Director of Training at the Association of Certified Fraud Examiners (ACFE) Indonesia Chapter.
- Investigations and Disputes
Budi has experience leading multidisciplinary teams that include forensic accountants, data analysts, and computer forensic analysts, enabling investigations to be conducted in an in-depth and forensic manner. He has led a wide variety of investigations, including but not limited to the following:
- Multiple high-profile corruption and money laundering investigations.
- Complex asset tracing assignments across Indonesia.
- Major internal fraud investigations for state-owned and private companies focusing on corruption, embezzlement, conflicts of interest, financial statement fraud, tax fraud, and other issues.
- Regulatory investigations into anti-corruption issues, including U.S. FCPA and UK ABAC, anti-monopoly, anti-money laundering, and tax laws.
- Compliance Due Diligence
Budi has conducted pre-, mid-, and post-transaction diligence on the procurement process into dozens to thousands of vendors for transactions valued up to USD1 billion.
- Investigative Unit Transformation
Budi has assisted clients such as the Indonesian Central Bank and Tax Office (Ministry of Finance) in transforming their investigation and anti-fraud unit, including updating investigation business processes and procedures, delivering trainings, and assisting with internal fraud investigation.
- Fraud Risk Management and Internal Control Improvement
Budi has assisted various clients with evaluating and developing fraud prevention and detection programs, including setting effective internal controls, performing fraud risk assessments, and providing recommendations for improvement.
Education & Certifications
- Master of Forensic Accounting, University of Wollongong
- Postgraduate Certificate in Corruption Studies, University of Hong Kong
- Governance & Anticorruption (short course), International Law Institute, Georgetown University
- Integrity System (short course), Malaysia Anti-Corruption Academy
- Indonesia Police Academy
- Certified Fraud Examiner (CFE)
- Chartered Accountant (CA)
- Indonesian Government Certified Procurement Expert
Affiliations & Memberships
- Association of Certified Fraud Examiners (ACFE) Indonesia Chapter
- Indonesian – Native
- English – Fluent