Kroll has just issued a report on global fraud stating that two thirds of corporate fraud is committed by insiders, i.e. employees and management, and sixty per cent of companies said that they have been affected by fraud.
Interestingly, it seems that corporate behaviour has changed somewhat as a result of the US FCPA (Foreign Corrupt Practices Act) and the UK Bribery Act; still, only approximately fifty per cent state they have trained managers and conduct thorough risk assessments. What of the other fifty per cent?
It is imperative that AML and anti-bribery/corruption compliance is taken seriously, and for that, senior managers need to install the best systems available. These systems need to be tailored to the individual needs of the company and to be constantly updated.
We work with leading specialist accountants and, because of our long and successful practice dealing with the defence of serious fraud and crime, we can advise on AML and anti-bribery/corruption.
Contact Jeffrey Lewis or Siobhain Egan.
