Building robust fraud investigation teams through benchmarking

Organizations across the globe have been using benchmarking data to evaluate their performance, structure and operations as compared to those of their peers. Thus, benchmarking grew into a leading industry practice to assess performance, proficiently use resources, detect knowledge gaps and identify areas for improvement. To understand trends among internal fraud investigation professionals, The Association … More Building robust fraud investigation teams through benchmarking

Managing third party risks through enhanced due diligence

Increased globalization has resulted in businesses expanding their footprint across the world. To drive efficiency, most organizations tend to outsource non-core activities to external or third parties. While the growing network of third parties can help organizations sustain in a challenging environment, it has also brought with it risks such as bribery and corruption, Intellectual … More Managing third party risks through enhanced due diligence

Gearing up for the GDPR revolution

The world is dominated by the internet revolution, digital disruption, cross border transactions and consumerization today. Information and data exchange is rapid and occurring real time. Consequentially, the security concerns traversing through boundaries are bringing data protection and privacy issues, breaches and leakage of confidential information into the spotlight.

Is your agent rogue?

In a year characterized by geopolitical risk, economic uncertainty and increased regulatory intensity, the findings of our 2017 Asia-Pacific Fraud Survey are a cause for concern: over half of close to 1,700 respondents across sectors believed that ethical standards have not improved in their local business operations.

Steering the power and utilities sector through fraud and corruption risks

India has witnessed tremendous growth in the power and utilities sector in recent years, with the Government launching various reforms and schemes to increase electrification reach and spread across the country. As per Central Electric Authority, India is one of the world’s largest producers and consumers of power, with over 1 trillion units generated and … More Steering the power and utilities sector through fraud and corruption risks

Expanding the arc of global corporate compliance

Today’s world of corporate compliance is characterized by an increasing number of enforcement actions related to bribery and corruption. Co-operation and information sharing between enforcement agencies on multi-jurisdictional cases is also increasing. Parallelly, nations such as Brazil, Canada, Mexico, France, India, Russia, Spain and Korea are either adopting anti-bribery laws or strengthening existing legislations. By … More Expanding the arc of global corporate compliance

Countering emerging cyber threats in the banking sector

The threat of cybercrime on the global banking and financial services industry is apparent with a tectonic increase in cases over the past few years. These attacks have become highly targeted, and cyber criminals seem to have hit the jackpot by deploying sophisticated techniques for illicit financial gains. From hacking the bank accounts of companies, … More Countering emerging cyber threats in the banking sector

Navigating through fraud and corruption risks in APAC

The past year has been burgeoning with growth and expansion opportunities for most countries across the globe, especially in the Asia Pacific region. Increased emphasis on cross border transactions, foreign direct investment and digital inclusion have been some of the contributing factors for the rapid economic and sustainable growth of this region. While countries in … More Navigating through fraud and corruption risks in APAC

Overcoming risks and fostering an ethical business environment in Bangladesh

The current global environment is ripe with opportunities for developing countries. Bangladesh’s economic scorecard is well-aligned with this trend, as it showcases significant growth in line with other markets especially in the Asia Pacific region. The current Gross Domestic Product of the country stands at 6.8%, and has consistently been above 6% over the last … More Overcoming risks and fostering an ethical business environment in Bangladesh

Are Swiss businesses doing enough to stay protected from the vulnerabilities of work permit breaches?

Rapid globalization, rising cross-border business operations, diverse workforces and greater enforcement has caused complexities for organizations with regards to adherence to local labor laws. In the event of a possible non-compliance scenario or work permit breach, these laws may not only affect the employers locally or even internationally, but also other stakeholders such as customers, … More Are Swiss businesses doing enough to stay protected from the vulnerabilities of work permit breaches?

APAC Fraud Survey 2017: Corporate India sees a tussle between growth and ethical conduct

Inconsistency and ambiguity in encouraging high ethical standards and insufficient understanding of compliance programs have increasingly led employees to justify unethical behaviour at the workplace states EY’s Asia-Pacific (APAC) Fraud Survey, Economic uncertainty or Unethical conduct: How should over-burdened compliance functions respond? The survey highlighted that ethical leadership has emerged worrisome in India and China … More APAC Fraud Survey 2017: Corporate India sees a tussle between growth and ethical conduct

Infusing ethics in Indian sporting leagues for greater fair play

India has seen a spurt in professional sports leagues over the last few years – from cricket, to football, kabbadi, wrestling, hockey and badminton. The entertainment value it brings to millions of fans is immense. Expectedly, sponsorships and digital advertisements volumes have gone through the roof, making it a beneficial space for brand associations. Investments … More Infusing ethics in Indian sporting leagues for greater fair play

Singapore raising the bar in the fight against corruption

Singapore’s reputation as a “clean” country did not come by chance. It is the result of decades of strong political will to sustain a robust and comprehensive anti-corruption framework, and build a society that frowns on corruption. Recently, the city-state received a boost of confidence with the Corrupt Practices Investigation Bureau (CPIB) revealing that corruption … More Singapore raising the bar in the fight against corruption

Understanding the growing significance of food safety in the retail sector

The Indian food industry is on an upward trajectory and emerging as a high growth space considering its contribution to the global food industry. Showing immense potential, it is expected to grow at an 11% CAGR to US$65.4 billion by 2018 as per India Brand Equity Foundation. The foundation also states that the food space … More Understanding the growing significance of food safety in the retail sector

Cyber incident response remains low in corporate India

Over the last few years, there has been an exponential rise in targeted cyber-attacks which are aimed at financial gain. Incidents around ransomware, data breach incidents and Distributed Denial of Service or DDoS attacks also made headlines worldwide. Today, a company’s ability to deal with such situations effectively is a priority but at the same … More Cyber incident response remains low in corporate India

Unleashing the potential of high growth companies by mitigating risks

High growth and entrepreneurial companies have emerged as the backbone of India’s economic success story and a key factor in the country’s development and progress. They have contributed significantly to the GDP, offered numerous opportunities by creating jobs, increased exports and delivered high value to the stakeholders involved. With changing times, building high growth companies … More Unleashing the potential of high growth companies by mitigating risks

Escalating ransomware threats in the healthcare sector

The threat of cybercrime, and particularly ransomware has been accelerating at an alarming rate in recent times. In Switzerland, a number of high profile cases have been reported, indicating a shift in the perpetrator’s focus from targeting individuals to not only small and medium sized companies but also large organizations. Trend shows the healthcare sector … More Escalating ransomware threats in the healthcare sector

Building the base for ‘good’ data integrity

The Indian pharmaceutical industry has been inundated by a substantial number of regulatory inspections, especially from US Food and Drug Administration (US FDA) and other prominent regulatory authorities such as UK’s Medicines and Healthcare Products Regulatory Agency (MHRA) and Health Canada. The challenges arising here may be daunting but the emphasis has been to steadily … More Building the base for ‘good’ data integrity

EMEIA Fraud Survey 2017: Is workplace ethics taking a backseat in India?

Uncertainties in the business environment, augmenting pressure to meet financial targets and aspirations to achieve unprecedented career growth are driving employees to justify unethical workplace behaviour, states EY’s Europe, Middle East, India and Africa (EMEIA) Fraud Survey. The India findings of the survey titled Human instinct or machine logic – which do you trust most in … More EMEIA Fraud Survey 2017: Is workplace ethics taking a backseat in India?

Protect confidential data from being sold as ‘scrap’

In recent times, there have been increasing concerns around data breaches and other security threats among companies and individuals alike. The use of new techniques and complex technologies has been both a bane and a boon here. Some stakeholders believe that the risk of data breach increases with growing technology adoption, while others believe that … More Protect confidential data from being sold as ‘scrap’

The ethical dilemma – to gift or not to gift?

Gift giving is a customary practice during festive seasons and special occasions (such as birthdays) in many parts of the world. But where should one draw the line in matters of business? What can be done when company executives are expected to give away ‘perks’ in the form of special movie screenings, free tickets to … More The ethical dilemma – to gift or not to gift?

Defying cybercrime risks in Switzerland

The world is more interconnected today than ever before with digitization and data sharing in businesses. These technological advancements can become a double-edged sword for not only Swiss companies but also all companies operating in a global ecosystem.  Today, fraud has also assumed a digital avatar, especially because of the ever increasing activities of cybercriminals … More Defying cybercrime risks in Switzerland

Maintaining women safety at workplace this International Women’s Day

Women safety has emerged as a subject of priority for most organizations today. As we celebrate International Women’s Day, it is important to highlight a strong stance toward fostering a diverse and inclusive environment as well as address workplace harassment issues. In line with this, EY Fraud Investigation & Dispute Services along with The Federation … More Maintaining women safety at workplace this International Women’s Day

Battling corruption through France’s SAPIN II Bill

France recently enacted the amended SAPIN II Bill in an effort to be in tune with global anti-corruption regulations. SAPIN II bill introduces multiple measures to combat bribery and corruption among corporates and charts a holistic path to drive compliance. The legislation extends to foreign jurisdictions and calls for prosecution of foreign companies whose entities … More Battling corruption through France’s SAPIN II Bill

Combating fraud and corruption risks in the IT-ITeS sector – recap of 2016 and outlook for 2017

2016 was a watershed year for the Indian information technology (IT-ITeS) sector. Many companies continued on an upward growth trajectory, and, as per a report by India Brand Equity Foundation, the sector is looking to achieve 12%-14% growth by the end of the financial year 2016-17. Data from the report further highlights that the Indian … More Combating fraud and corruption risks in the IT-ITeS sector – recap of 2016 and outlook for 2017

Understanding the Internet of (Hacked) Things

Imagine a scenario when your alarm clock is connected to the internet, and accesses your calendar to know when and where the first appointment of the day is. It simultaneously cross-references that against the latest traffic conditions, depending on which you can sleep a little longer or wake up earlier. The curtains in your bedroom open, … More Understanding the Internet of (Hacked) Things

Indian multinationals in the pharmaceutical sector need to operate a tighter compliance ship than before

The Indian pharmaceutical industry is currently undergoing many unprecedented changes. These range from emerging areas of science, new and improved drug variants and specialized services to evolving regulations and business models, making it one of the world’s most developed industries. Today, the sector ranks third in terms of volume and 13th in terms of value. … More Indian multinationals in the pharmaceutical sector need to operate a tighter compliance ship than before

Investing in forensic specialists is critical to combat white collar crime in India

Market volatility, increased pressure to meet revenue targets and growth can compel many executives to adopt unethical practices. With rising cases of fraud, bribery, corruption, cybercrime and other forms of white-collar crime, there has been a surge in anti-fraud professionals or forensic investigators, who can help companies in detection and deterrence of risks. The Association of … More Investing in forensic specialists is critical to combat white collar crime in India

Strengthening food safety compliance at the workplace

Traditionally, food safety was not considered to be a priority for the masses in India, and products (as well as establishments serving them) were presumed to be safe. But, a rise in reports around adulteration of many varieties of commonly consumed food products led to increased regulatory scrutiny and public uproar, raising multiple questions. Consumer … More Strengthening food safety compliance at the workplace

Bulletproofing the Indian e-commerce business

Rapid innovation and digitization has led to a spurt in e-commerce over the last few years. This has permeated into the lives of individuals to do almost anything – shop, travel, book vacations, cabs or even buy groceries online. The convenience offered to browse online in the comfort of their own home, as opposed to … More Bulletproofing the Indian e-commerce business

Is fraud taking you for a ride? It is time for automotive companies to fasten their compliance seatbelt.

Today, the automotive industry has become significantly more global in scope, and a company’s supply and distribution relationships are likely to have a much broader global reach than ever. These inter-relationships that extend across borders, time zones, and continents could also compound the opportunities for fraudulent and corrupt activity due to differences in culture, business … More Is fraud taking you for a ride? It is time for automotive companies to fasten their compliance seatbelt.

Changing mind-set driving improvement in arbitration in India

An increase in the number of commercial disputes, rising importance of technology and delays in the litigation system are some of the reasons for a substantial increase in cases of arbitration. Today, India is not only a preferred hub for investments but also the third-largest foreign investment beneficiary in the world, thus making easy access … More Changing mind-set driving improvement in arbitration in India

Uncovering the reality of modern slavery

James*, a Regional Manager with an Indian multinational firm was elated, having just received his offer letter for an internal transfer overseas. The opportunity not only gave him a sizeable hike from his current salary, but also included perks such as fare for the flight, food and accommodation in his new city. After settling in, … More Uncovering the reality of modern slavery

Registrar and Transfer Agent Frauds – failure of governance over outsourced activities?

Steven*, a working professional, approached a Registrar and Transfer Agent (RTA), Philip*, for transmission of shares bought by his father who passed away six years ago. He was alarmed when informed by Philip that the shares held by his father were dematerialised (converted from physical shares into electronic format) and had been sold through the stock … More Registrar and Transfer Agent Frauds – failure of governance over outsourced activities?

Is your company suffering from viral referrals?

With an aim of making India a global talent hub, companies across the board are making unswerving efforts to attract and retain talent. One of the most prolific methods that most organizations adopt is the concept of employee referrals. Besides being a more cost-effective recruitment tool, it also motivates and encourages current employees to contribute … More Is your company suffering from viral referrals?

A peek into India Inc.’s forensic outlook 2016

Economic growth, regulatory reforms and enhanced investor confidence took the Indian business environment by storm in 2015. Companies steadily turned toward a more effective and ethical way to do business and attempted to tighten the noose on unethical practices. While there has been a gradual shift in mind-set as well as execution, companies need to … More A peek into India Inc.’s forensic outlook 2016