used as a slang term to describe something with a conflict of interest, much like it would be a conflict of interest to hire a dingo to babysit your infant while you leave the house. In this situation the dingo has a contrast of interest and will most likely NOT do a good job babysitting your infant.
This term was first used on the popular HBO show, last week tonight with John Oliver.
John Oliver: "The CEO of a Payday lending company actually has is in charge of regulating the Payday lending industry!
I am calling dingo on that!... I am calling dingo!"