The Global Business Climate is Changing. So Are Your Third-Party Partners

The current business climate requires a review and reassessment of your organisation’s third-party relationships. The global pandemic is rattling economies worldwide, disrupting supply chains, interrupting production, wreaking havoc on industry sectors and shuttering businesses.

It’s highly probable that, at some point, organisations that affiliate with outside providers will eventually have to deal with any number of operational interruptions resulting from a third-party related issue. And while the risks involved in partnering with outsiders haven’t changed over time, the potential level of liability has been ratcheted up several notches.  

International Borders have been ripped down. Technology has improved the way businesses communicate. Easy access to data and information enables the media to report on business news before a business can adequately respond. Consequently, the markets quickly react based on this 24/7 on-demand news cycle.

The result of this increased liability can be highly problematic:

  • Business litigation has skyrocketed.  
  • Due to the fallout from the current global pandemic, corporate reputations are negatively impacted.  
  • Risk management frameworks are continually evolving to acclimate to changing business environments. 
  • Board members are becoming increasingly subjected to intense scrutiny from outside critics.

THE CHALLENGE: A highly educated market responds immediately with their pocketbooks

  • Organisations suffer financial loss as the supply chain falters and loses customers because of poor-quality service from a third party.  
  • Company data systems are exposed and breached because of poor security practices by third parties.
  • Companies are experiencing supply chain issues due to poor disaster recovery procedures by third parties.
  • Organisations are increasingly being exposed to litigation because of relationships with an outside provider that significantly violated contractual terms, potentially resulting in regulatory exposure.

THE OUTCOMES: Identifying Red Flags

  • Inadequate Compliance Framework 
  • Human Rights Violations
  • Environmental Negative Impact
  • Inadequate Governance Policies
  • Undisclosed third-party transactions
  • Material misrepresentations or omissions
  • Unreported financial liabilities
  • Criminal or regulatory sanctions
  • Prior bribe or corruption allegations
  • Undisclosed legal or bankruptcy proceedings
  • Politically Exposed Persons (PEPs)

THE SOLUTION: Qualify Your Partners. Protect Your Organisation

Corporate Research and Investigations Limited (CRI® Group) is pleased to announce the rollout of its 3PRM-Certified™ a third-party certification program, specifically designed for organisations across the Middle East, Europe and Asian regions. CRI® Group’s 3PRM-Certified™ Risk Management Program Presents an Effective Strategy to Vet Outside Partnerships.  

This highly specialised Third-Party Risk Management assessment and certification program was developed to help organisations accurately determine the legal compliance, financial viability, and integrity levels of outside partners, suppliers, and customers who seek to affiliate with and represent your business.  

CRI® Group’s 3PRM-Certified™ third-party risk management strategy can safeguard your organisation against:

  • Business Interruption;
  • Brand Damage;
  • Corporate Liability; and
  • Director Liability.

DOWNLOAD BROCHURE NOW!

The 3PRM-Certified™ program consists of gap analysis investigative due diligence on targeted third-party partners, suppliers and agents seeking to affiliate with your organisation. This comprehensive program can reveal any Anti-Corruption, Compliance and Risk Management deficiencies associated with the international regulatory framework. The International Standards Organisation ISO achieves another milestone to launch ISO 37000:2021 Governance of organisations, ISO 37002:2021 Whistleblowing Management systems in-line with ISO 37301 Compliance Management Systems to demonstrate effective corporate compliance and Environmental, Social, and Governance. 

CRI® Group employs a network of locally qualified, subject-specific auditors, investigators, certified fraud examiners and industry-specific professionals across the Middle East, European and Asian regions who can provide expert counsel in offering 3PRM-Certified™ strategies as an effective preemptive measure. 

3PRM™ Gap Analysis can also be combined with a accredited certification by CRI® Group’s independent certification body “ABAC® Center of Excellence Limited” for the scope of:

  • ISO 37000:2021 Governance of organisations;
  • ISO 37002:2021 Whistleblowing Management Systems;
  • ISO 37301 Compliance Management Systems; and
  • ISO 37001 Anti-Bribery Management System certification to demonstrate effective corporate compliance and Environmental, Social, and Governance.

Has your organisation adequately vetted its third-party relationships lately? Contact CRI® Group to learn more about our 3PRM-Certified™ third-party risk management strategy program and discover a practical and proactive approach to mitigating the risks associated with corruption, bribery, financial crimes and other dangerous threats posed by third-party partnerships. We invite you to schedule a quick appointment with us to discuss you third-party risk management strategy needs.

Let’s Talk!

Don’t leave TPRM to chance. Take a proactive stance with the highest level of TPRM as a part of your essential corporate strategy. Contact us today to learn more about our full range of services to help your organisation stay protected.

GET A FREE QUOTE

About us

Based in London, CRI® Group works with companies across the Americas, Europe, Africa, Middle East and Asia-Pacific as a one-stop international Risk ManagementEmployee Background ScreeningBusiness IntelligenceDue DiligenceCompliance Solutions and other professional Investigative Research solutions provider. We have the largest proprietary network of background screening analysts and investigators across the Middle East and Asia. Our global presence ensures that no matter how international your operations are, we have the network needed to provide you with all you need, wherever you happen to be. CRI® Group also holds BS102000:2013 and BS7858:2019 Certifications is an HRO certified provider and partner with Oracle.

In 2016, CRI® Group launched the Anti-Bribery Anti-Corruption (ABAC®) Center of Excellence – an independent certification body established for ISO 37001:2016 Anti-Bribery Management SystemsISO 37301 Compliance Management Systems and ISO 31000:2018 Risk Management, providing training and certification. ABAC® operates through its global network of certified ethics and compliance professionals, qualified auditors and other certified professionals. As a result, CRI® Group’s global team of certified fraud examiners work as a discreet white-labelled supplier to some of the world’s largest organisations. Contact ABAC® for more on ISO Certification and training.

Meet the CEO

Zafar I. Anjum is Group Chief Executive Officer of CRI® Group (www.crigroup.com), a global supplier of investigative, forensic accounting, business due to diligence and employee background screening services for some of the world’s leading business organisations. Headquartered in London (with a significant presence throughout the region) and licensed by the Dubai International Financial Centre-DIFC, the Qatar Financial Center – QFC, and the Abu Dhabi Global Market-ADGM, CRI® Group safeguard businesses by establishing the legal compliance, financial viability, and integrity levels of outside partners, suppliers and customers seeking to affiliate with your business. Based in London, CRI® Group maintains offices in UAE, Pakistan, Qatar, Singapore, Malaysia, Brazil, China, Turkey and the USA.

Contact CRI® Group to learn more about its 3PRM-Certified™ third-party risk management strategy program and discover an effective and proactive approach to mitigating the risks associated with corruption, bribery, financial crimes and other dangerous risks posed by third-party partnerships.

CONTACT INFORMATION

Zafar Anjum, MSc, MS, CFE, CII, MICA, Int. Dip. (Fin. Crime) | CRI® Group Chief Executive Officer

37th Floor, 1 Canada Square, Canary Wharf, London, E14 5AA United Kingdom

t: +44 207 8681415 | m: +44 7588 454959 | e: zanjum@crigroup.com

2021 CPI overview is out now!

The newly published Transparency International’s Corruption Perception Index (CPI 2021) is out. This year’s Corruption Perceptions Index (CPI) reveals that corruption levels are at a worldwide standstill. The CPI ranks 180 countries and territories around the world by their perceived levels of public sector corruption. The results are given on a scale of 0 (highly corrupt) to 100 (very clean). This year, the global average remains unchanged for the tenth year in a row, at just 43 out of a possible 100 points. Despite multiple commitments, 131 countries have made no significant progress against corruption in the last decade. Two-thirds of countries score below 50, indicating that they have serious corruption problems, while 27 countries are at their lowest score ever. That proves the need to implement more stringent anti-bribery anti-corruption measures worldwide. In this article, we discuss solutions to tackle bribery in these regions.

What’s happening around the world?

At the top of the CPI, countries in Western Europe and the European Union continue to wrestle with transparency and accountability in their response to COVID-19, threatening the region’s clean image. In parts of Asia Pacific, the Americas, Eastern Europe and Central Asia, increasing restrictions on accountability measures and basic civil freedoms allow corruption to go unchecked. Even historically high-performing countries are showing signs of decline.

In the Middle East and North Africa, the interests of a powerful few continue to dominate the political and private sphere, and the limitations placed on civil and political freedoms are blocking any significant progress. In Sub-Saharan Africa, armed conflict, violent transitions of power and increasing terrorist threats combined with poor enforcement of anti-corruption commitments rob citizens of their basic rights and services. Download the 2021 Transparency International Corruption Perception Index  and compare with last years (2020) corruption wins, scandals and predictions for each region (Asia Pacific, the Middle East and Pakistan).

Trouble at the top, COVID-19 and human rights

The current business climate requires a review and reassessment of your organisation’s third-party relationships. The global pandemic is rattling economies worldwide, disrupting supply chains, interrupting production, wreaking havoc on industry sectors and shuttering businesses.

It’s highly probable that, at some point, organisations that affiliate with outside providers will eventually have to deal with any number of operational interruptions resulting from a third-party related issue. And while the risks involved in partnering with outsiders haven’t changed over time, the potential level of liability has been ratcheted up several notches.  

International Borders have been ripped down. Technology has improved the way businesses communicate. Easy access to data and information enables the media to report on business news before a business can adequately respond. Consequently, the markets quickly react based on this 24/7 on-demand news cycle.

The result of this increased liability can be highly problematic:

  • Business litigation has skyrocketed.  
  • Due to the fallout from the current global pandemic, corporate reputations are negatively impacted.  
  • Risk management frameworks are continually evolving to acclimate to changing business environments. 
  • Board members are becoming increasingly subjected to intense scrutiny from outside critics.

THE CHALLENGE: A highly educated market responds immediately with their pocketbooks

  • Organisations suffer financial loss as the supply chain falters and loses customers because of poor-quality service from a third party.  
  • Company data systems are exposed and breached because of poor security practices by third parties.
  • Companies are experiencing supply chain issues due to poor disaster recovery procedures by third parties.
  • Organisations are increasingly being exposed to litigation because of relationships with an outside provider that significantly violated contractual terms, potentially resulting in regulatory exposure.

THE OUTCOMES: Identifying Red Flags

  • Inadequate Compliance Framework 
  • Human Rights Violations
  • Environmental Negative Impact
  • Inadequate Governance Policies
  • Undisclosed third-party transactions
  • Material misrepresentations or omissions
  • Unreported financial liabilities
  • Criminal or regulatory sanctions
  • Prior bribe or corruption allegations
  • Undisclosed legal or bankruptcy proceedings
  • Politically Exposed Persons (PEPs)

THE SOLUTION: Qualify Your Partners. Protect Your Organisation

Corporate Research and Investigations Limited (CRI® Group) is pleased to announce the rollout of its 3PRM-Certified™ a third-party certification program, specifically designed for organisations across the Middle East, Europe and Asian regions. CRI® Group’s 3PRM-Certified™ Risk Management Program Presents an Effective Strategy to Vet Outside Partnerships.  

This highly specialised Third-Party Risk Management assessment and certification program was developed to help organisations accurately determine the legal compliance, financial viability, and integrity levels of outside partners, suppliers, and customers who seek to affiliate with and represent your business.  

CRI® Group’s 3PRM-Certified™ third-party risk management strategy can safeguard your organisation against:

  • Business Interruption;
  • Brand Damage;
  • Corporate Liability; and
  • Director Liability.

DOWNLOAD BROCHURE NOW!

The 3PRM-Certified™ program consists of gap analysis investigative due diligence on targeted third-party partners, suppliers and agents seeking to affiliate with your organisation. This comprehensive program can reveal any Anti-Corruption, Compliance and Risk Management deficiencies associated with the international regulatory framework. The International Standards Organisation ISO achieves another milestone to launch ISO 37000:2021 Governance of organisations, ISO 37002:2021 Whistleblowing Management systems in-line with ISO 37301 Compliance Management Systems to demonstrate effective corporate compliance and Environmental, Social, and Governance. 

CRI® Group employs a network of locally qualified, subject-specific auditors, investigators, certified fraud examiners and industry-specific professionals across the Middle East, European and Asian regions who can provide expert counsel in offering 3PRM-Certified™ strategies as an effective preemptive measure. 

3PRM™ Gap Analysis can also be combined with a accredited certification by CRI® Group’s independent certification body “ABAC® Center of Excellence Limited” for the scope of:

  • ISO 37000:2021 Governance of organisations;
  • ISO 37002:2021 Whistleblowing Management Systems;
  • ISO 37301 Compliance Management Systems; and
  • ISO 37001 Anti-Bribery Management System certification to demonstrate effective corporate compliance and Environmental, Social, and Governance.

Has your organisation adequately vetted its third-party relationships lately? Contact CRI® Group to learn more about our 3PRM-Certified™ third-party risk management strategy program and discover a practical and proactive approach to mitigating the risks associated with corruption, bribery, financial crimes and other dangerous threats posed by third-party partnerships. We invite you to schedule a quick appointment with us to discuss you third-party risk management strategy needs.

Let’s Talk!

Don’t leave TPRM to chance. Take a proactive stance with the highest level of TPRM as a part of your essential corporate strategy. Contact us today to learn more about our full range of services to help your organisation stay protected.

GET A FREE QUOTE

About us

Based in London, CRI® Group works with companies across the Americas, Europe, Africa, Middle East and Asia-Pacific as a one-stop international Risk ManagementEmployee Background ScreeningBusiness IntelligenceDue DiligenceCompliance Solutions and other professional Investigative Research solutions provider. We have the largest proprietary network of background screening analysts and investigators across the Middle East and Asia. Our global presence ensures that no matter how international your operations are, we have the network needed to provide you with all you need, wherever you happen to be. CRI® Group also holds BS102000:2013 and BS7858:2019 Certifications is an HRO certified provider and partner with Oracle.

In 2016, CRI® Group launched the Anti-Bribery Anti-Corruption (ABAC®) Center of Excellence – an independent certification body established for ISO 37001:2016 Anti-Bribery Management SystemsISO 37301 Compliance Management Systems and ISO 31000:2018 Risk Management, providing training and certification. ABAC® operates through its global network of certified ethics and compliance professionals, qualified auditors and other certified professionals. As a result, CRI® Group’s global team of certified fraud examiners work as a discreet white-labelled supplier to some of the world’s largest organisations. Contact ABAC® for more on ISO Certification and training.

Meet the CEO

Zafar I. Anjum is Group Chief Executive Officer of CRI® Group (www.crigroup.com), a global supplier of investigative, forensic accounting, business due to diligence and employee background screening services for some of the world’s leading business organisations. Headquartered in London (with a significant presence throughout the region) and licensed by the Dubai International Financial Centre-DIFC, the Qatar Financial Center – QFC, and the Abu Dhabi Global Market-ADGM, CRI® Group safeguard businesses by establishing the legal compliance, financial viability, and integrity levels of outside partners, suppliers and customers seeking to affiliate with your business. Based in London, CRI® Group maintains offices in UAE, Pakistan, Qatar, Singapore, Malaysia, Brazil, China, Turkey and the USA.

Contact CRI® Group to learn more about its 3PRM-Certified™ third-party risk management strategy program and discover an effective and proactive approach to mitigating the risks associated with corruption, bribery, financial crimes and other dangerous risks posed by third-party partnerships.

CONTACT INFORMATION

Zafar Anjum, MSc, MS, CFE, CII, MICA, Int. Dip. (Fin. Crime) | CRI® Group Chief Executive Officer

37th Floor, 1 Canada Square, Canary Wharf, London, E14 5AA United Kingdom

t: +44 207 8681415 | m: +44 7588 454959 | e: zanjum@crigroup.com

 

Personal Due Diligence, Tips You Need to Know

In the business world, due diligence refers to the investigation and steps were taken by organisations to satisfy all legal requirements before buying or selling products/ services or entering into a contract or a financial arrangement with another party. An Integrity Due Diligence allows an organisation to reduce risks arising from the FCPA (Foreign Corrupt Practices Act) and the UKBA (U.K. Bribery Act), to make informed decisions and pursue takeovers or mergers with more confidence. 

Due diligence is vital to prevent many types of fraud, and while professional services can be used in some cases, it is also up to the consumer to do their due diligence. Due diligence is vital to prevent many types of fraud. While in some cases, it is also up to the consumer to do their own personal due diligence. Due diligence sounds complicated, but it is merely the process of doing your homework before you make a significant commitment.

Personal Due Diligence In Everyday Transactions

Most of us practice personal due diligence even though we may not think of it that way (i.e. research on the internet before making a purchase or deciding what restaurant to go to). We are doing our “due diligence” to get the best deal in this process. The level of proper due diligence should be proportionate to the level of commitment involved and your specific status. So when buying a house, the due diligence ought to be more extensive (i.e. a family with children may want to check out the rating of the schools in the area). Another personal area to conduct due diligence involves a new job offer (i.e., the organisation known to treat its employees well). These areas involve a significant amount of due diligence on your part before accepting a new position at a new company.

Due Diligence Makes Trust Possible

The Government is under increased pressure to give clear guidance on post-Brexit Right to Work and Right to Rent checks. In the U.K., the lack of clarity from the Government has already caused problems. Many landlords are averse to letting their properties to non-UK nationals if they breach the Right to Rent rules post-Brexit. Whether renting a property, having home renovations done, buying insurance, getting a mortgage, or even entering a new romantic relationship, you can use due diligence to protect yourself. Due diligence can prevent potential fraud and some other types of scams.

The following are tips on how to avoid fraud:

  • Know who you are dealing with, ask questions and verify the information;
  • Check with the governing body for licensing and insurance requirements;
  • Scammers pressure you to act immediately. Don’t sign anything you don’t understand;
  • Don’t sign anything for large amounts of money without having it reviewed by your lawyer;
  • Scammers say there’s a problem or a prize. Do not give out your personal information without verifying who is getting it;
  • Be cautious if you are asked to make up-front payments;
  • Get company information, including name and address and ensure that a written contract backs all verbal promises;
  • Have a contract in place for things like construction work;
  • Never give an unsolicited caller access to your computer;
  • Do not give out a credit card or online account details over the phone unless you made the call and the number you are calling came from a trusted source;
  • Scammers tell you to pay in a specific way. Never wire money unless you’re confident that you’re sending it to someone you know;
  • Be suspicious of any calls from supposedly distressed relatives who don’t give their names. After hanging up, try calling the family member with the phone numbers you have to see if they need help;
  • Scammers pretend to be from an organisation you know. Be suspicious of any calls from a supposed government agency or other businesses demanding payments; and
  • Landlords should check references (in some cases, a police criminal record check), credit reports, and employment information of potential tenants.

Online Fraud is on the rise

In a time of crisis, we often see the best in people. Even before COVID-19 was officially classified by the World Health Organisation (WHO) as a global pandemic, citizens and government leaders alike praised the selfless sacrifice of doctors, nurses, first responders and others putting themselves in harm’s way to help treat and limit the spread of the disease. Unfortunately, a crisis can also bring out the worst in some people; fraudsters prey on fear and confusion.

The research shows that online fraud is on the increase too. Online retailer sectors saw rising transaction volumes in March 2020 compared to the previous year, with 97% in Home products and furnishings, 136% in DIY products, 163% in garden essentials, and 26.6% in electronics. Fraudsters are using the surge in online activity to target unsuspecting consumers.

Online Due Diligence Tips:

  • Change online passwords regularly and make them secure (don’t use standard information about yourself);
  • Don’t post personal info such as date of birth or mailing address on social media sites;
  • Have the most current firewall and anti-virus software on your computer;
  • Don’t send financial or any other type of personal information by email or text;
  • When purchasing online, make sure the site is secure. It should begin with HTTPS;
  • Don’t open links that appear in an email asking you to start a financial transaction. Go directly to the organisation’s website;
  • Don’t download software programs or apps from an unsecured source; and
  • Don’t use unsecured wifi (such as in a coffee shop) if your device has personal information on it.
  • Change online passwords regularly and make them secure (don’t use standard information about yourself);
  • Don’t post personal info such as date of birth, mailing address, or SIN on social media sites;
  • Have the most current anti-virus software and firewall on your computer;
  • Don’t send financial information by email or text;
  • When purchasing online, make sure the site is secure. It should begin with HTTPS;
  • Don’t open links that appear in an email asking you to start a financial transaction. Go directly to the organisation’s website;
  • Don’t download apps or software programs from an unsecured source; and
  • Don’t use unsecured wifi (such as in a coffee shop) if your device has personal information (such as your phone contacts, apple id, banking records, residence or employment information).

DueDiligence360™

Don’t fall prey to unscrupulous business dealings and outside threats. At CRI® Group, we specialise in Integrity Due Diligence, working as trusted partners to businesses and institutions worldwide. Our people work with energy, insight and care to ensure we provide a positive experience to everyone involved – clients, reference providers and candidates.

Our DueDiligence360™ expose vulnerabilities and threats that can cause serious damage to your organisation and can significantly reduce business. The world’s largest corporations trust CRI® Group and consultancies – outsource your due diligence to an experienced provider, and you will only ever have to look forward, never back.

LEARN MORE ABOUT DUE DILIGENCE 360

About CRI® Group

Based in London, CRI® Group works with companies across the Americas, Europe, Africa, Middle East and Asia-Pacific as a one-stop international Risk ManagementEmployee Background ScreeningBusiness IntelligenceDue DiligenceCompliance Solutions and other professional Investigative Research solutions provider. We have the largest proprietary network of background screening analysts and investigators across the Middle East and Asia. Our global presence ensures that no matter how international your operations are, we have the network needed to provide you with all you need, wherever you happen to be. CRI® Group also holds B.S. 102000:2013 and B.S. 7858:2012 Certifications, is an HRO certified provider and partner with Oracle.

LEARN MORE ABOUT OUR SOLUTIONS

Speak Up, Report Illegal, Unethical or Improper Behaviour

Ethics and Compliance Hotline is an anonymous reporting mechanism that facilitates reporting of possible illegal, unethical, or improper conduct when the normal communication channels have proven ineffective or are impractical under the circumstances. At CRI® Group, we are committed to having an open dialogue on ethical dilemmas regardless. We want to introduce a new Ethics & Compliance Hotline. This hotline is available to all employees and clients, contractors, vendors, and others in a business relationship with CRI® Group and our sister brand ABAC® Group.

If you find yourself in an ethical dilemma or suspect inappropriate or illegal conduct, and you feel uncomfortable reporting through normal channels of communication, or wish to raise the issue anonymously, use CRI® Group’s Compliance Hotline in below mentioned ways or provide us with your complaint online on the form below. The Compliance Hotline is a secure and confidential reporting channel managed by an independent provider. When reporting a concern in good faith, you will be protected by CRI® Group’s Non-Retaliation Policy.

What Can You Report?

Feel free to report any known or suspected noncompliant behaviour or violations with any regulatory mandates and/or local policies, including but not limited to:

  • Ethical standards Violations
  • Violation of laws and Company Policy and internal control
  • Risk and Safety
  • Theft, embezzlement or misappropriate of assets and fraud
  • Bribery and corruption
  • Employee Rights, Employee Relation, Work Environment
  • Privacy laws or security of personal information
  • Discrimination
  • The dispute related to Supervisor, H.R. and other Departments
  • Physical and Verbal Harassment on Workplace
  • Issues related to job responsibilities
  • The Report related to a suspicious activity being a witness
  • Unfair dismissals

Our Compliance Hotline is accessible by both phone and online. If you make a report directly by telephone, you will speak with the Compliance Department directly. If you submit a report online, the system will guide you through the reporting process, and a PIN generated automatically once you complete the Report.

REPORT NOW

 

 

 

 

 

 

Managing HR through COVID-19 in 4 simple steps

Managing HR through COVID-19

Managing HR through COVID-19, here are the four simple steps. COVID-19 continues to affect communities on every continent. This global crisis called for fresh due diligence and risk management review of the company’s third-party partnerships; it has disrupted business and entire industries as we know it; a fraud spike in the wake of the COVID-19 pandemic has consequently led to an increase in identity theft cases; for many HR professionals, employee screening during COVID-19 has become complicated, with its many new ways COVID-19 impacted background checks enhancing why critical background Screening has become. This pandemic has made managing HR more difficult than ever.

While we must take vigorous action to control the spread of the coronavirus and save lives, we must also act to protect our livelihoods. The steps you need to take now relate to four categories: Review, Communicate, Update and Travel. These checklists provide chief human resources officers (CHROs) and other HR professionals with practical ideas for keeping employees safe while maintaining productivity and charting recovery paths. And then, the following will form a good starting point.

The four simple steps in managing HR through COVID-19

1. REVIEW

  • Review business continuity plans and how these would be maintained if employees suffer from coronavirus absences.
  • Review existing sickness policies and procedures, are they disseminated to staff? Do they need amending? 
  • Review contracts of employment. It may be relevant to establish whether individuals can be asked to undertake different work or at other locations or at various times from the norm. 
  • Review your emergency procedures, e.g., if there is an infection and the workplace is closed temporarily. If appropriate, carry out a test run of emergency communication to see how robust the process is. 
  • Ensure contact details for all staff are up to date. 
  • Undertake risk analysis of high-risk groups of employees and what steps can be taken to try and reduce risks for those groups. These groups may include: 1) those who frequently travel to countries where there is currently or may well be a risk of infection. 2) those with health issues, such as asthma, diabetes, cancer, or those who are pregnant, are more likely to suffer adversely if they become infected with the virus. 
  • Review procedures in the office for preventing the spread of the virus, e.g., increased cleaning, availability of hand sanitisers and tissues etc. 
  • Review planning for the possibility of large-scale absenteeism. For example: 
  • Identify the essential positions within the business, what needs to carry on during an emergency, and what is the minimum number of employees required?
  • Identifying employees with transferable skills so that these essential positions can always be temporarily filled. 
  • Considering flexible work patterns, such as employees working from home.
  • Identify employees who have the necessary IT infrastructure to work from home (e.g., remote access to the office computer systems). 

2. COMMUNICATE

  • Identify an appropriate person as spokesperson/ communicator of updates on policies etc., with appropriate credibility.
  • What, if anything, is said about absence from work for reasons other than ill-health, e.g., where an office is closed?
  • Assuming the employer has a health and safety committee, have there been any discussions with that committee about COVID-19 and its potential impact? If there is no such committee, the employer may want to consider setting one up. 
  • Communicate as a matter of urgency with the high-risk groups identified in any risk review to ensure they are aware of their high-risk status and the measures taken to assist. 
  • Ensure managers are aware of the relevant workplace policies. 
  • Consider issuing guidance to employees on recognising when a person is infected with the coronavirus. What are the symptoms, and what should one do if one is taken ill at home or work? It is also important to emphasise that individuals may not recognise that they have the virus and may not be exhibiting symptoms. Employees should be informed of the reporting procedure within their employer if they have a potential infection and any official reporting process. 
  • Provide advice to encourage individuals to take responsibility for their health and safety and slow the virus’s spread. For example, advice on handwashing and sanitiser gels, coupled with a willingness to self-identify where individuals may have encountered individuals with the virus, have become infected themselves or have returned from private travel abroad to an area that turns out to be affected by the virus.
  • Make clear that where staff are ill, they must not come to work regardless, i.e. “Struggle through”.

3. TRAVEL

  • Log employee travel before it is booked and check against the latest travel protocols. 
  • Ensure staff know that this applies to personal travel and business travel. 
  • Encourage staff to tell you if close family members with whom they share a house are travelling to infected areas. 
  • Replace face-to-face meetings (especially those involving travel) with video conferences, telephone conferences, etc. 
  • Consult/communicate about whether to encourage varied work patterns to avoid travelling on public transport at rush hour. 

4. UPDATE 

  • Initiate a system to keep up-to-date, especially given the spread of infection. 
  • Consider establishing a committee on the employer’s side to coordinate responses and engage with any staff consultative forum, with particular responsibility for staying up-to-date with public health updates. 
  • How will employers communicate regular updates on the coronavirus and its spread to employees? As news develops, it is vital for an employer to be issuing fact-based updates to avoid the possibility of fear being used by worried employees to make decisions about whether or not to come to work, whether to travel abroad, etc. 
  • Who will have the authority to determine changes to policy and issue any new communications to staff?

Employsmart™: Background checks during COVID-19 and more

As a background screening provider, CRI® Group can support you by proactively monitoring the data sources and working with them to understand when and how to carry out verification requests. By working with a background screening partner, we can tailor your screening needs to the challenging times we’re facing. EmploySmart™ is CRI® Group’s robust pre-employment background screening service that helps companies of any size and industry avoid negligent hiring liabilities. We know you have lots of questions. We compiled a FAQ ebook, read now or download your FREE ebook.

During the COVID-19 pandemic, it’s imperative to ensure a safe work environment for all of your employees. EmploySmart™ can be tailored to meet the requirements of each specific position within your company. As a leading worldwide provider of specialised local and international employment background screening, CRI® Group’s services are second-to-none in providing risk mitigation and peace of mind in the hiring process.

Learn more about how EmploySmart™ can help your company stay protected during these strange and uncertain times. Contact CRI® Group today.

Want to know the most crucial factors in the hiring process? 

Download our “Top 10 things every organisation should know about background checks” infographic. Get answers to frequently asked questions about background checks/screening cost, guidelines, check references etc. This eBook of compiled list of background screening related questions taken is the perfect primer for any HR professional, business leader and company looking to avoid employee background screening risks. It provides the tools and knowledge needed to make the right decisions. 

READ MORE

Who is CRI® Group?

Based in London, CRI® Group works with companies across the Americas, Europe, Africa, Middle East and Asia-Pacific as a one-stop international Risk ManagementEmployee Background ScreeningBusiness IntelligenceDue DiligenceCompliance Solutions and other professional Investigative Research solutions provider.

We have the largest proprietary network of background screening analysts and investigators across the Middle East and Asia. Our global presence ensures that no matter how international your operations are, we have the network needed to provide you with all you need, wherever you happen to be. CRI® Group also holds BS 102000:2013 and BS 7858:2012 Certifications, is an HRO certified provider and partner with Oracle.

In 2016, CRI® Group launched the Anti-Bribery Anti-Corruption (ABAC®) Center of Excellence – an independent certification body that provides education and certification services for individuals and organisations on a wide range of disciplines and ISO standards, including ISO 31000:2018 Risk Management- GuidelinesISO 37000:2021 Governance of OrganisationsISO 37002:2021 Whistleblowing Management System, ISO 37301:2021 (formerly ISO 19600) Compliance Management systemAnti-Money Laundering (AML) and ISO 37001:2016 Anti-Bribery Management Systems.

 

Employee Screening During COVID-19: Doesn’t have to be complicated

Employee Screening During COVID-19 made simple

Employee Screening During COVID-19. Unsurprisingly, the virus has had a massive impact on businesses, and the recruitment industry is certainly not immune to that. Companies adapted quickly to survive, and the legacy of COVID-19 may forever change the nature of recruitment and the workplace landscape. CRI® Group’s survey revealed that 77 per cent of HR professionals accept that there is a risk that employees can initiate fraudulent activity because of the work-from-home arrangement. The rise in recruitment fraud is creating several challenges – last year, it cost £23 Billion just in the UK. The COVID-19 is set to cost even more. And what is particularly worrying for any HR professional is that fraud in recruitment regularly sees genuine businesses used to add legitimacy to illegal behaviour. 

Background checks and necessary screenings are vital to avoid horror stories and taboo tales that occur within HR, your business or even your brand – simply investing insufficient screening can save you time, money and heartbreak. COVID-19 is adding even more complexity and new challenges to your job:

  1. Money mule scammers specialise in hacking employer accounts at job recruitment Websites like Monster.com and other popular employment search services. Armed with the employer accounts, the crooks are free to search through millions of resumes and reach out to people who are in fragile situations due to COVID-19.
  2. According to jobs site Glassdoor, the virus has sparked new demand for professions related to infectious diseases, which has recorded a more than doubling of job postings with keywords related to coronavirus this month, particularly within the government, healthcare, and biotech and pharmaceuticals.

 

The recruiters that weather the COVID-19 storm will be those that adapt as the situation unfolds. Outsourcing your background screening is smart and effective. CRI® Employee Background Checks can reduce the risk of hiring someone who could cause irrevocable damage. Firms spend years, thousands, even millions to brand their products and services and one bad hire can cause loss of capital and reputation to the extent that may bring a business to fail. A robust pre-employment check can help you and your company:

  • Reduce turnover & training costs
  • Gain a competitive edge through the hiring of better people
  • Increase productivity – help your employees be more productive knowing that everyone employed by your company has been screened
  • Set your company apart & win more business
  • Reduce employee-related problems
  • Protect company reputation/brand & customer relations
  • Comply with mandates created by state or federal law for certain industries
  • Increase retention
  • Reduce negligent hiring claims
  • Avoid violence in the workplace (threats of violence & actual violence)
  • Reduce theft & espionage
  • Avoid lawsuits & the costs associated with the defence
  • Avoid loss of goodwill

GET A FREE QUOTE NOW!

BS 7858:2019 Standard: A new way to mitigate employee risk during COVID-19

BS 7858:2019 Standard is the revised standard for screening individuals working in secure environments. The far-reaching impact of the COVID-19 outbreak has affected virtually every business and economic sector worldwide. Depending on the global region, the far-reaching implications have hampered (on various levels) the ability to conduct proper and thorough background screening investigations.

In the United Kingdom and the United Arab Emirates, the countrywide lockdowns forced leaders to close sites and send their workforce home. Many must learn how to manage people working from home (WFH) or remotely for the first time. The previous concerns about productivity, privacy and protecting sensitive information only grew more with the practice of WFH.

They highlighted the vital importance of pre-employment background screening and background investigations. BS 7858:2019 Standard for screening individuals working in secure environments offers a complete solution.

Unfortunately, conducting such investigations in a reliable and timely manner has brought its struggles. The closure of public information sources has dramatically impacted accessing public records to verify previous employment, education and criminal charges.

Drug screening tests have been delayed or postponed until such companies are permitted to reopen their doors for business. On the applicant side, it’s been widely reported that individuals are concerned (and rightly so) about participating in face-to-face interviews. Applicants are concerned with leaving their homes to do a drug test and returning to a work environment that may or may not appear healthy, protected and safe.

Want to know the most crucial factors in the hiring process? 

Download our “Top 10 things every organisation should know about background checks” infographic. Get answers to frequently asked questions about background checks or screening cost, guidelines, check references etc. This eBook of compiled list of background screening related questions taken is the perfect primer for any HR professional, business leader and company looking to avoid employee background screening risks. It provides the tools and knowledge needed to make the right decisions. 

READ MORE

Learn more about how EmploySmart™ can help your company stay protected during these strange and uncertain times. Contact CRI® Group today.

Who is CRI® Group?

Based in London, CRI® Group works with companies across the Americas, Europe, Africa, Middle East and Asia-Pacific as a one-stop international Risk ManagementEmployee Background ScreeningBusiness IntelligenceDue DiligenceCompliance Solutions and other professional Investigative Research solutions provider.

We have the largest proprietary network of background screening analysts and investigators across the Middle East and Asia. Our global presence ensures that no matter how international your operations are, we have the network needed to provide you with all you need, wherever you happen to be. CRI® Group also holds BS 102000:2013 and BS 7858:2012 Certifications, is an HRO certified provider and partner with Oracle.

In 2016, CRI® Group launched the Anti-Bribery Anti-Corruption (ABAC®) Center of Excellence – an independent certification body that provides education and certification services for individuals and organisations on a wide range of disciplines and ISO standards, including ISO 31000:2018 Risk Management- GuidelinesISO 37000:2021 Governance of OrganisationsISO 37002:2021 Whistleblowing Management System, ISO 37301:2021 (formerly ISO 19600) Compliance Management systemAnti-Money Laundering (AML) and ISO 37001:2016 Anti-Bribery Management Systems.

 

An Open End-of-Year Appreciation Letter

An Open End-of-Year Appreciation Letter

As the end of the year draws near, we would like to take this opportunity to thank all of you for a fantastic year. The success of the CRI® Group is based on the relationships we have built over the years, and we really wouldn’t be where we are without you. We are grateful for the opportunity to work with and for you. 

Our passion for safeguarding the corporate world by detecting and exposing those elements that can cause irreparable harm to a business and help markets stand up against the outside forces that, through corruption, collusion, coercion and fraud, can cause financial, organisational, reputational and legal harm to our global clients remains strong. Over this past year, we have added staff, contractors and new clients to help us on our mission.

At CRI®, we are committed to spreading knowledge about the negative impact of fraud on global businesses and promoting transparent business relations across the world. For the past year, we worked extensively to deliver whitepapers, manuals and other insights to help organisations overcome bribery and corruption challenges and manage risks more effectively. 2021 was a year that brought many industry collaborations – including events hosted with several experts from leading organisations – and educated over 600 people with:

2021 has been filled with a multitude of victories, and 2022 is set to be even better, as Zafar I. Anjum, our Group Chief Executive Officer, comments on here:

“2021 saw an expansion in our service capabilities with our 3PRM™- Certified solution, Anti-Money Laundering Advisory services and BS 7858:2019 Screening investigations solutions (CRI® is the only BS 7858 certified background screening services provider in the UAE and across the Middle East); in addition to announcing the opening of our new offices in Turkey (Corporate Research and Investigations Danışmanlık Hizmetleri Limited Şirketi).”

“Our sales and marketing teams have been busy attending exhibitions. We’ve also seen a dramatic increase in our online marketing presence and subsequent engagement with our customers. Next year we hope to build on the success of 2021, and to that end, further expansion plans are already on the drawing board.”

“It just leaves me to thank all our customers for their business and loyalty, but perhaps most importantly all of the hard-working and dedicated employees in the UK, UAE, Qatar, Singapore, Malaysia, Pakistan and USA, without whom none of what you read in the subsequent pages would be possible. Thank you, and here’s to a successful 2022.”

On behalf of CRI® Group, we wish you a very Merry Christmas and a wonderful holiday season! Thank you for your continued support and partnership. We look forward to working with you in the years to come.

Financial Crime Policies and Procedures: examples of good and poor practice…

The principal catalyst of economic crime (also known as financial crime) is monetary gain. However, economic crime has a devasting effect on individuals and communities. When associated with organised crime and terrorist financing, it threatens laws, democratic processes, and fundamental human freedoms, impoverishing states and distorting free trade and competition. 

Not a victimless crime

Because of the well-publicised financial scandals that marked the aftermath of the tech bubble in 2002 and the housing bubble in 2008, most recently, the 2018 Patisserie Valerie scandal, which was once considered a merely poor business practice (i.e. widespread reckless investment) is now considered criminal. We saw how the vast losses associated with these high-level financial fraud scandals undermined social-security systems and destabilised economic systems. Today there is a growing consensus on the need to improve the global framework for fighting financial crime and regain the public’s trust. And financial crime prevention policies and procedures are critical. 

Walk the walk with a robust code of conduct

The failure of self-regulation by most companies involved in the scandals only highlighted how important organisations have prevention policies and procedures in place. These policies fall under the “Ethical Code of Conduct” A code of conduct sets the standards for how an organisation ought to behave and guides its workforce in the decision-making. A robust Code of Conduct and other internal rules and guidelines serve as the foundation for a successful free of fraud organisation. Read more on “Ethical code of conduct and what should be covered?”

By having a robust code of conduct, organisations can demonstrate their commitment to complying with all applicable laws and regulations. With a well-established set of global policies, the organisation can achieve robust and consistent compliance standards. Rather than assume that ethical rules “go without saying,” every organisation should spell out what they expect of their employees when it comes to ethical behaviour. At CRI® Group, we counsel business leaders that every organisation should have a written, carefully considered ethical code of conduct as part of their fraud prevention strategy. CRI® Group’s Certification program through the ABAC® Center of Excellence includes developing an ethical code of conduct as part of clients’ training and development phase.

CONTACT CRI® FOR MORE INFORMATION

Successful organisations adopt a risk-based approach when doing business…

A company must have up-to-date policies and procedures appropriate to its business. These policies should provide a uniform set of risk management principles and mandatory standards. These should be readily accessible, effective and understood by all relevant workforce.

Self-assessment questions:

  • How often are your organisation’s policies and procedures reviewed, and at what level of seniority?
  • How does it mitigate the financial crime risks it identifies?
  • What steps does the organisation take to ensure that relevant policies and procedures reflect new risks or external events? How quickly are any necessary changes made?
  • What steps does the organisation take to ensure that staff understand its policies and procedures?
  • How do you ensure that policies and procedures are disseminated and applied throughout the business?

Examples of good practice

  • There is clear documentation of the company’s approach to complying with its legal and regulatory requirements concerning financial crime;
  • Policies and procedures are regularly reviewed and updated; and
  • Internal audit or another independent party monitors the effectiveness of policies, procedures, systems and controls.

Examples of poor practice

  • No written policies and procedures;
  • Does not tailor externally produced policies and procedures to suit its business;
  • Takes inadequate steps to communicate policies and procedures to relevant staff;
  • Fails to review policies and procedures in light of events;
  • Fails to check whether policies and practices are applied consistently and effectively; and
  • Has not considered whether its policies and practices are consistent with its obligations under legislation that forbids discrimination.

An Investigative Study Into Causal Factors of the Perpetration of Transnational Financial Crimes

As the global impact of transnational financial crime increases to unprecedented levels, attention has turned to the need to fully understand the motivations that lead to the perpetration of such crimes. CRI® Group has recently published an ebook that provides insightful looks into today’s issues at the forefront of fraud and corruption. They range from deep dives into the U.S., U.K. and other anti-fraud and anti-corruption laws worldwide to close examinations of actual fraud cases that hold lessons for all of us. This ebook provides an in-depth study of transnational financial crimes and the national laws and regulations. Laws in the U.S. and the U.K., in particular, are compared and examined in terms of effectiveness in preventing financial crimes. The comparative study focuses on corporate fraud. “The Catalysts for Economic Crime” pursues the question of how weaknesses in national laws can be considered “a core causal factor in the perpetration of transnational financial crimes.” We invite you to download this ebook and increase your knowledge of fraud, corruption, proper compliance, risk assessments, due diligence, etc.

Download your FREE “The Catalysts for Economic Crime” ebook here!

At CRI® Group, we are always ready to assist you to effectively manage your organisation in an efficient and risk-free manner that best suits your needs. Our experience base, skilled workforce, technical resources, networking capabilities, internal flexibility and global offices maximise our solution efficacy. Explore our broad range of risk management solutions for your business.

CRI® Group’s investigators and Certified Fraud Examiners understand fraud patterns and are trained to recognise the elements of fraud characteristics and where they might come into play at any organisation. Through this knowledge, we can help you uncover the trail of fraud and help bring about a quick and successful resolution.

Having global coverage, CRI® works directly with the key personnel to lead and conduct fraud investigations, including, if needed, your internal board of directors, audit committee, ethics and compliance officers, general and in-house counsel, corporate security, human resources, and C-level executives.

VIEW OUR RISK MANAGEMENT SOLUTIONS BROCHURE

 

 

CRI® Opens Office in Turkey

CRI Group Opens Office in Turkey

Corporate Research and Investigations Limited (CRI® Group), a global leader in Risk Management and Compliance solutions, announced today the opening of its offices in Turkey (Corporate Research and Investigations Danışmanlık Hizmetleri Limited Şirketi). CRI® Group has been safeguarding businesses from fraud, bribery and corruption since 1990. CRI® protects businesses by establishing the legal compliance, financial viability, and integrity levels of outside partners, suppliers and customers seeking to affiliate with your business.

Based in London, CRI® Group works with companies across the Americas, Europe, Africa, Middle East and Asia-Pacific as a one-stop international Risk Management, Employee Background Screening, Business Intelligence, Due Diligence, Compliance Solutions and other professional Investigative Research solutions provider. We have the largest proprietary network of background-screening analysts and investigators across the Middle East and Asia. Our global presence ensures that no matter how international your operations are, we have the network needed to provide you with all you need, wherever you happen to be. Our global team can support your organisation anywhere in the world.

Zafar Anjum, Group CEO at CRI®, said: “The ability to effectively pre-empt fraud and corruption by mitigating internal and external risks to prevent these issues can save corporations from immense potential losses and reputation damage. Our services such as DueDiligence360™, 3PRM™ and EmploySmart™ can significantly help organisations deal with bribery and corruption, third-party risk management, noncompliance with the regional and international regulatory framework and malpractice. CRI® Group’s expertise will enhance the diverse pool of business support services available within Turkey.”

“Today’s business climate dictates an increasing demand of international business organisations for proactive measures designed to reduce bribery and corruption, particularly in the financial, government and multi-national business sectors,” Anjum further said. “CRI Group’s worldwide network of multi-disciplined subject specialists and analysts help organisations prevent and deter bribery and corruption, third-party malfeasance, threats and corruption risks while ensuring our clients conform to the local and international regulatory framework. The establishment of our offices in Turkey gives us the platform to expand further and enhance the level of support we offer to the international business community.”

CRI® Group also holds BS 102000:2013 and BS 7858:2012 Certifications, is an HRO certified provider and partner with Oracle, and it is a licensed and incorporated entity of the Dubai International Financial Center (DIFC) and Qatar Financial Center (QFC).

Global integrity DueDiligence360™ investigations

CRI® investigators employ a proven, multi-faceted research approach that involves a global array of databases, courts and public record searches, local contacts, industry and media resources, and in-depth web-based research. Our resources include:

  • International business verification
  • Individual business interest search
  • Personal profile on individual subjects
  • Company profile on corporate entities
  • Historical ownership analysis
  • Identification of subsidiaries & connected parties
  • Global/national criminality & regulatory records checks
  • Politically Exposed Person database
  • International digital media research
  • Company background analysis
  • Industry reputational assessment
  • FCPA, UK Anti-Bribery & corruption risk databases
  • Global terrorism checks
  • Global financial regulatory authorities check
  • Money laundering risk database
  • Financial reports
  • Asset tracing
  • Country-specific databases that include litigation checks, law enforcement agencies & capital market regulators.

VIEW DUEDILIGENCE360™ BROCHURE

Ensure a safe work environment for all with EmploySmart™

EmploySmart™ can be tailored into specific screening packages to meet the requirements of each specific position within your company. We are a leading worldwide provider, specialising in local and international employee background checks, including pre-employment and post-employment background checks.

CRI® Employee Background Checks are an investigation into a person’s character – inside and outside their professional lives. Some checks you already carry out in-house, such as candidate’s qualifications (documents provided), work history (with a reference check), right to work in the country and even a quick social media presence scan. However, we provide a full in-depth background screening service for candidates and employees at all levels – from senior executives through to shop-floor employees including BS7858 vetting.

  • Address Verification (Physical Verification)
  • Identity Verification
  • Previous Employment Verification
  • Education & Credential Verification
  • Local Language Media Check
  • Credit Verification & Financial History (where publicly available)
  • Compliance & Regulatory Check
  • Civil Litigation Record Check
  • Bankruptcy Record Check
  • International Criminal Record Check
  • Integrity Due Diligence
  • and more.

Our EmploySmart™ is a robust pre-employment background screening service certified for BS7858.

VIEW EMPLOYSMART™ BROCHURE

Third-Party Risk Management solution (TPRM), also known as 3PRM™

The solution includes establishing the legal compliance, financial viability, and integrity levels of outside partners, suppliers, customers, and other sources worldwide seeking potential affiliations with your organisation.

If your organisation requires any of the following within your compliance checklist, then you must consider a third-party risk management solution:

  • Have a lack of visibility or understanding danger of the risks posed by your relationships with many types of third parties?
  • Want greater visibility into third-party performance and risks?
  • Need to improve operational costs, process, efficiencies, and organisational agility associated with your third-party relationships?
  • Need to gain greater control over the related risks?
  • Want to be confident that third parties are compliant with your business’ policies, as well as their own based on government regulations and industry requirements?

VIEW 3PRM™ BROCHURE

Working with us you get…

  • With expertise in domestic and international screening, one of the largest, most experienced and best-trained integrity due diligence teams globally.
  • The ability to manage multiple background checks online
  • Quick turnaround times
  • High-quality searches, backed by numerous checks and quality controls
  • We have a flat structure which means that you will have direct access to senior members of staff throughout the due diligence process.
  • Our multi-lingual teams have conducted assignments on thousands of subjects in over 80 countries, and we’re committed to maintaining and constantly evolving our global network.
  • Our solutions are easily customisable, flexible and we will tailor our scope to address your concerns and risk areas, saving you time and money.
  • Our team of more than 50 full-time analysts is spread across Europe, the Middle East, Asia, North and South America and fully equipped with the local knowledge to serve your needs globally.
  • Our extensive solutions include due diligence, employee pre and post background screening, business intelligence and compliance, facilitating any decision-making across your business no matter what area or department.

Our Mission and Vision

  • CRI® mission is to safeguard the corporate world by detecting and exposing those elements that can cause irreparable harm to a business
  • Stand up against the outside forces that, through corruption, collusion, coercion and fraud, can cause financial, organisational, reputational and legal harm to our global clients
  • Stand out as the preeminent provider of specialised investigative services that enable our clients to exhibit the highest standards of business integrity, ethics and behaviour

Our global presence ensures that no matter how international your operations are we have the network needed to provide you with all you need, wherever you happen to be. We take great care to ensure that our experts are the best at what they do. We pride ourselves on having the most stringent recruitment standards in the industry. Our experience, skilled workforce, technical resources, networking capabilities, internal flexibility and global offices maximise our solution efficacy. Added to that is the fact that our extensive experience gives us the breadth and depth of knowledge needed to make sure that your organisation is protected at all turns, at every corner, and through every deal.

Speak up – report any illegal, unethical, or improper behaviour

If you find yourself in an ethical dilemma or suspect inappropriate or illegal conduct, and you feel uncomfortable reporting through regular communication channels or wish to raise the issue anonymously, use CRI® Group’s Compliance Hotline. The Compliance Hotline is a secure and confidential reporting channel managed by an independent provider. When reporting a concern in good faith, you will be protected by CRI® Group’s Non-Retaliation Policy.

 

Do you know what are the measures to implement to prevent fraud?

Measures to fight fraud: The Implementation

Measures to fight fraud. What are measures every organisation must implement to prevent fraud? Reporting fraud is crucial for any organisation to do as it aids in not only safeguarding your organisation from the outside but also in protecting the economy. When the event of fraud happens on a large scale, it can set back a nation’s economy substantially. Consumers which consist of the public as well as any trade suppliers will not purchase goods or services if there is any possibility of them developing into victims – an issue that has plagued third-world countries in recent years but is not exclusive to just them.

Reporting fraud protects your organisations internal and external team, and organisational leaders must come to realise that they have a responsibility to look out for their personnel whilst also promoting a workplace that encourages the employees to look out for one another. It is therefore vital that all suspicious activity must be brought to light. When offenders are allowed to operate without restraint, the rate of fraudulent conduct tends to spread with many victims clueless to the notion that somebody is taking from them.

The question of mandating the reporting of fraud has always been of prevalence and the ACFE released a report in which it was found that “the main reasons given in support of mandatory fraud reporting included: the prevalence and damaging nature of fraud; the opportunity to gain a better overall understanding of fraud; the need to escalate tackling fraud as an item on the government’s agenda; the value in creating more and better intelligence for policing; and encouraging organisations to take more responsibility for managing fraud.”

Regardless of where you stand on the mandating of reporting fraud, it is important to know what you can do as an organisation to safeguard yourself from the ramifications. To celebrate this year International Fraud Awareness Week we leave you with food for thought on what preventive measures you should implement to avert fraud.

The Fraud Triangle theory

Renowned criminologist Donald R Cressey developed a theory that implicated three aspects that trigger fraud, these include:

  • Opportunity
  • Rationalisation
  • Pressure

Trusted persons become trust violators when they conceive of themselves as having a financial problem that is non-shareable, are aware this problem can be secretly resolved by violation of the position of financial trust, and are able to apply to their own conduct in that situation verbalizations which enable them to adjust their conceptions of themselves as trusted persons with their conceptions of themselves as users of the entrusted funds or property (Donald R. Cressey, Other People’s Money (Montclair: Patterson Smith, 1973) p. 30

When offenders are allowed to commit fraud, they will do so promptly. An absence of core regulations or reporting structure/oversight increases the chances of fraud as the offenders are aware that they are unlikely to face any repercussions.

The offender then goes on to rationalise the repeated dishonesty, which, feasibly over a few years, rises slowly and becomes a prerogative as they feel entitled to the easily obtained profits they received from the deceptive act.

They may feel that the gains are easier to obtain rather than confronting the vast pressure, be it corporate reasons such as meeting organisation targets or personal pressures, such as addiction or financial crises which is what prompts them to carry out their fraudulent conducts over a prolonged time. Consequently, it is incredibly important to implement preventative measures to safeguard your organisation from fraud.

What preventative measures should I implement to fight fraud?

At CRI® Group, we offer a wide array of services catered to several industries to help implement anti-fraud procedures. Fraud can be found in many aspects of an organisational core and peripheral structure, so it is, therefore, important to tailor it to each element.

To detect employee fraud, for example, it is advised that you pursue the proficiency of a skilled employee fraud accountant as early as possible. Employee fraud accountant aids in inspecting an employee’s professional conduct. This can be done by obtaining and by reviewing your organisation’s bank statements and financial documents and advising you whether an employee is committing fraud and to what extent; the report will also give you the evidence you need to take the necessary action against your employee and act as a preventive to others. However, this is vastly different from conducting a pre-employment screening check.

What are the makes of an ideal candidate? The experience, qualifications, and academic accreditation, right? But how do you verify everything that they have presented to you? Employee background checks and necessary screenings are crucial to avoid a bad hire that can impact HR, your business, or even your brand –the financing of sufficient screening can save you time, money, and despair.

Know your workforce

Employee Background Checks investigate a potential candidate’s character in and out of their professional lives. These checks as inclusive of a candidate’s qualifications (documents provided), work history (with a reference check), right to work in the country and even a quick social media presence scan. Conducting employee background checks can diminish the probability of hiring a candidate who could cause irreversible damage to your organisation. Organisations can spend years and a substantial amount of money to brand their products and services; one bad hire is all it takes to cause a loss of capital and reputation to the extent that may cause an organisation to break.

EmploySmart™ is CRI®’s exclusive employee background checks service providing a comprehensive check of all the necessary data required for pre-employment. EmploySmart™ is a robust pre-employment background screening service certified for BS7858 and is used in a bid to avert inattentive hiring charges. CRI® helps organisations create a safe work environment for all and our EmploySmart™ system can be customised into special screening packages to meet the requirements of each specific position within your organisation. Why not check out our brochure?

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Implement a third-party risk management process

Apart from the internal aspects of fraud, it is equally as important to remember that fraud can happen with any external connections your organisation may have including suppliers, consumers, investors and so on. It is vital to ensure that you are conducting third-party risk management to avoid such an instance. CRI® Group’s private but professionally developed 3PRM™ facilities aid organisations in proactively abating risks from third-party associations, safeguarding your organisation from legal responsibility, brand damage, and any other impairment to the organisation. Regardless of where your organisation is in terms of the stages of development, our 3PRM™ solution is the perfect solution for eradicating exterior risks associated with your progress. The 3PRM™ restructures the third-party risk management process through scalability and efficiencies – from third-party risk identification to assessment. 

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Fraud can be an incredibly formidable task and with more legislation looking to be implemented regarding reporting fraud, you must keep yourself aware of it. 

Why not contact one of our specialists for a free 30-minute consultation? Our experts range from different fields and industries hence allowing us to provide your organisation with a truly bespoke service. Prevent fraud in your workplace today – it all starts with you.

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About the International Fraud Awareness Week

CRI® Group is once again a proud supporter of 2021’s International Fraud Awareness Week. Taking place throughout the week of November 14th to November 20th of 2021, International Fraud Awareness Week is a global effort is a move to diminish the influence of fraud by advocating for anti-fraud awareness and education. According to the 2021 ACFE Report to the Nations, organisations continue to lose about 5% of revenue to fraud each year and currently, there are more than 3.3 billion people in the global workforce with all of them having access to or control over some portion of their employer’s cash or assets – an amount which contributes to such a loss.

Corresponding to the most recent ACFE report, other fraud trends which have remained constant throughout the last few years include:

  • Asset misappropriation is the most identified scheme
  • Tips are the greatest process of exposure
  • The lengthier that fraud goes unbridled, the greater the median loss

Zafar Anjum, founder, and CEO of CRI® Group said that International Fraud Awareness Week (called Fraud Week, for short) is a crucial endeavour drawing attention to fraud and aiding to support better education towards communities about the liabilities that accompany fraud. “CRI® Group has been a proud supporter of Fraud Week for past years”, Anjum said. “It’s an important time to urge organisations of all shapes and sizes to conduct proper due diligence and minimise risk. Only by addressing fraud and corruption proactively can we make progress in preventing and detecting it”.

For CRI® Group, though, assisting organisations with the deterrence and detection of fraud is a year-round responsibility which is why Fraud Week is a wonderful occasion to acknowledge CRI® Group’s contemporary exertions in the bout alongside fraud; it is also a wonderful time to look ahead on CRI® Group’s activities which are all nearing their time of action.

 

2021 Fraud Week: Prevention is key

The 2021 Fraud Week: Prevention is key!

Every year, for one week in November, organisations around the world embrace a movement aimed to minimise and prevent fraud and corruption. International Fraud Awareness Week (“Fraud Week,” for short) is November 14-20, 2021, and CRI® Group has been an enthusiastic Official Supporter since the very beginning of this important campaign.

According to the ACFE, the world’s largest anti-fraud association and founder of Fraud Week, organisations worldwide lose an estimated 5 per cent of their annual revenues to fraud. To make things worse: “A single instance of fraud can be devastating: the median loss per fraud case was $145,000, and more than a fifth of the cases involved losses of at least $1 million.”

But there is good news. For Fraud Week, the ACFE offers some basic steps any organisation can take immediately to lessen their vulnerability to fraud:

  • Be Proactive. Adopt a code of ethics for management and employees. Evaluate your internal controls for effectiveness and identify areas of the business that are vulnerable to fraud. Find out more about what an Ethical code of conduct is and what should it cover?
  • Establish Hiring Procedures. When hiring staff, conduct thorough background investigations. Check educational, credit and employment history (as permitted by law), as well as references. Check out the consequences of neglecting background screening
  • Train Employees in Fraud Prevention. Do workers know the warning signs of fraud? Ensure that staff members know basic fraud prevention techniques, here are some Tips on Identifying and Preventing Employee Fraud
  • Implement a Fraud Hotline. Fraud is still most likely to be detected by a tip. Providing an anonymous reporting system for your employees, contractors and clients will help uncover more fraud. Find out more on how to set up an Ethics & Compliance Hotline.
  • Increase the Perception of Detection. Communicate regularly to staff about anti-fraud policies, ways to report suspicions of misconduct, and the potential consequences (including termination and prosecution) of fraudulent behaviour.

At CRI® Group, our experts are trained to help organisations implement the above measures. Our integrity due diligence and risk management services focus on preventing fraud before it happens, not after the fact, when it is often too late to recover stolen funds and assets.

In one case study, a multinational company engaged in the provision of equipment and supplies used by the medical industry contacted CRI® Group. The client wished to contract with a company and wanted to ensure that there were no regulatory or reputational problems associated with the potential partner, and thus wanted to know their track record, integrity and reputation.

During the course of this integrity due diligence, CRI® Group local operatives focused on whether the company in question was a legitimate business, and sought to identify the key players running operations both in Egypt and Iraq for the company in question. However, questions arose: Research showed no physical locations; the office address was found to be a residential site with no indication of business operations. No commercial relationships in Iraq were evident.

Local operatives further investigated the company’s distribution capabilities in the country, especially to the north and south, as claimed in a questionnaire provided to the client. Yet no information was found from any source to corroborate the company’s claims. Additionally, discreet interviews with local individuals found that no one was aware of the company.

Scepticism was confirmed, CRI® Group discovered that the company’s principal was previously charged with “criminal breach of trust” and there was still a trial proceeding with regional trial courts. Three other civil damages claims against the principal were discovered, with USD $1.2 million claimed in liabilities.

CRI® Group helped the client avoid becoming entangled with a fraudulent business and an alleged criminal – protecting the client from making a bad business deal that could have resulted in severe economic loss and a potentially damaged reputation. 

Our due diligence services can help put any organisation on the right track to being better protected and positioned to prevent and detect fraud – not just during Fraud Awareness Week, but year-round. Contact CRI® Group today.

 

Who is CRI® Group?

Based in London, CRI® Group works with companies across the Americas, Europe, Africa, Middle East and Asia-Pacific as a one-stop international Risk ManagementEmployee Background ScreeningBusiness IntelligenceDue Diligence and other professional Investigative Research solutions provider. We have the largest proprietary network of background-screening analysts and investigators across the Middle East and Asia. Our global presence ensures that no matter how international your operations are we have the network needed to provide you with all you need, wherever you happen to be. CRI® Group also holds BS 102000:2013 and BS 7858:2012 Certifications, is an HRO certified provider and partner with Oracle.

In 2016, CRI® Group launched the Anti-Bribery Anti-Corruption (ABAC®) Center of Excellence – an independent certification body established for ISO 37001:2016 Anti-Bribery Management SystemsISO 37301 Compliance Management Systems and ISO 31000:2018 Risk Management, providing training and certification. ABAC® operates through its global network of certified ethics and compliance professionals, qualified auditors and other certified professionals. As a result, CRI® Group’s global team of certified fraud examiners work as a discreet white-labelled supplier to some of the world’s largest organisations. Contact ABAC® for more on ISO Certification and training.