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

June 21, 2017

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

June 15, 2017

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

June 8, 2017

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

May 31, 2017

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

May 11, 2017

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

May 5, 2017

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

April 26, 2017

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

April 20, 2017

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

April 12, 2017

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?

April 7, 2017

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’

March 29, 2017

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?

March 23, 2017

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

March 15, 2017

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

March 8, 2017

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

February 17, 2017

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

February 7, 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

January 25, 2017

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

January 20, 2017

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

January 12, 2017

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

January 6, 2017

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

December 15, 2016

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.

October 4, 2016

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

September 22, 2016

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

September 8, 2016

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?

August 31, 2016

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?

August 19, 2016

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?

Transformers: the need for the auto industry to administer effective scheme policing

April 28, 2016

The auto industry relies heavily upon its dealership community to amplify reach within the market. More often than not, it is the car dealer who is the face of the brand for the customer. These dealerships comprise third parties which operate as ‘middlemen’ and cater to the retail consumer base, based on a dealership contract … More Transformers: the need for the auto industry to administer effective scheme policing

Augmenting individual accountability could deter future fraud, bribery and corruption risks

April 22, 2016

Today, the global business environment is clamouring for enhanced transparency at a time of increased geopolitical tensions and heightened volatility in financial markets. The escalating threats of cybercrime, terrorist financing and, more recently, the revelations regarding widespread possible misuse of offshore jurisdictions, have increased pressure on Governments to act and companies to identify and mitigate … More Augmenting individual accountability could deter future fraud, bribery and corruption risks

Trade-based money laundering – a growing dilemma for the banking industry

April 14, 2016

Trade-based transactions have gained considerable flak over the years due to the complexities involved. Traditionally, trade finance has always been viewed as a high risk area, particularly related to fraud. This perception has transformed recently, and regulators and international bodies have increasingly started viewing trade finance as a ‘high risk’ area of business for money laundering, … More Trade-based money laundering – a growing dilemma for the banking industry

Bangladesh: rife with corruption vs. ripe with opportunity

April 6, 2016

Bangladesh’s economic scorecard showcases significant growth as compared with other developing countries. The current Gross Domestic Product (GDP) of the country stands 6.9 percent and has been consistently above six percent over the last three years. This progress is backed by strong private investments, substantial export figures and large remittances in infrastructure and services sectors. … More Bangladesh: rife with corruption vs. ripe with opportunity

eDiscovery – the new frontier for evidence in India

March 30, 2016

‘Discovery’ is a fact-finding process in litigation which occurs after a lawsuit is filed, to encourage exchange of information between both parties involved and help uncover the truth. Prior to the digital age, non-testimonial evidence primarily comprised paper documents, photographs and other physical evidence. With the prolific use of computers across industries, accepting digital evidence … More eDiscovery – the new frontier for evidence in India

Powering through corruption in BRICS nations

March 18, 2016

Our last infographic on the transpiring corruption atmosphere within BRICS nations (Brazil, Russia, India, China and South Africa) highlighted how each of these regions stack up on Transparency International’s – Corruption Perception Index. It also highlighted the risk areas and regulatory measures that their standing could possibly be attributed to. In this post, we will take a more … More Powering through corruption in BRICS nations

Preventing sexual harassment of women at work – an important factor on the path to gender parity

March 8, 2016

Gender parity is a subject of much discussion in these times, with the World Economic Forum estimating that it will take about 117 years to achieve this feat globally, according to its Global Gender Gap Report 2015. On the occasion of International Women’s Day, we thought it ideal to evaluate the transition of the industry … More Preventing sexual harassment of women at work – an important factor on the path to gender parity

What lies beneath – a take on corruption in BRICS nations

February 26, 2016

Countries everywhere are facing a grueling task of fighting corruption. BRICS nations, which are Brazil, Russia, India, China and South Africa are no different. As emerging economies, their approach to achieve high growth can be marred by endemic risks such as fraud, bribery, corruption and cybercrime. However, they need to leverage their strengths, seize opportunities as they focus on … More What lies beneath – a take on corruption in BRICS nations

Social media, cloud and phishing: Evolving trends in cybercrime

February 5, 2016

*Gaurav, a finance manager in a multinational company, rose to attention one Monday morning as he received an email from *Shephali, the company’s chief financial officer (CFO). The email directed him to urgently make a payment of $10,476 toward an attached invoice to a Cyprus-based vendor. Gaurav instantly initiated the process, bypassing some of the … More Social media, cloud and phishing: Evolving trends in cybercrime

Data Privacy Day – why it should matter to you…

January 28, 2016

Privacy, a term that we seldom take enough cognizance of, is gradually changing form. In this technologically infused age, where virtual identities have now taken precedence in our personal and professional lives, the concept of data privacy has become inevitably important. The celebration of Data Privacy Day on 28 January each year that was initiated in … More Data Privacy Day – why it should matter to you…

Cybercrime threats leading to increased investment in forensic data analytics

January 22, 2016

In today’s digital world, there are rapidly expanding opportunities for innovation and growth. Unfortunately, these new opportunities have also brought new fraud risks in the forms of cybercrime and internal threat. Our Global Forensic Data Analytics Survey 2016, Shifting into high gear: mitigating risks and demonstrating returns, revealed that risks such as such as internal fraud, … More Cybercrime threats leading to increased investment in forensic data analytics

Ransomware malware: a rising threat to businesses

January 14, 2016

In this day and age, everyone is troubled by the menace of computer malware — unwanted and malicious software code that hacks computer systems, causing malfunction, data theft and loss of business. Typically, malware tends to rapidly spread to targeted and non-targeted individuals and businesses, making it one of the major threats in today’s digital … More Ransomware malware: a rising threat to businesses

A peek into India Inc.’s forensic outlook 2016

January 8, 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