Corporate Research & Investigations

CRI celebrates the 2022 International Anti-Corruption Day

The world today is plagued with some of the biggest issues of all time. The plague of corruption is intertwined in most of them, threatening the prosperity and stability of many countries. Corruption negatively impacts several aspects of society and is intertwined with conflict and instability jeopardising social and economic development and undermining democratic institutions and the rule of law.

Corruption fuels conflict and hampers peace by undermining the rule of law, and facilitating the illegal use of resources for armed conflict or illicit substances like drugs.

The United Nations designated 9 December as International Anti-Corruption Day, to raise awareness of corruption and of the role of the United Nations Convention against Corruption in combating and preventing it. The Convention entered into force in December 2005.

The 2022 International Anti-Corruption Day (IACD) looks at driving home the crucial link between anti-corruption and peace, security, and development. Tackling this crime is the right and responsibility of everyone, and this is possible only through cooperation and the involvement of all people and institutions in play, says the United Nations.

The Corruption Perceptions Index (CPI), published annually by the non-governmental organisation Transparency International ranked 180 countries “on a scale from 100 (very clean) to 0 (highly corrupt)” based on the situation between 1 May 2020 and 30 April 2021. As per the CPI, Denmark, New Zealand, Finland, Singapore, and Sweden are perceived as the least corrupt nations in the world, ranking consistently high among international financial transparency, while the most apparently corrupt are Syria, Somalia, and South Sudan.

Some staggering stats on corruption

Here are some interesting statistics from transparency.org to blow your socks off:
£100 billion of dirty money passes through UK systems and services every year.
87,000 land titles in England and Wales are owned by opaque corporate structures that hide the true owners.
76% think wealthy individuals often use their influence on Government for their own interests.
Just 52 people made a sixth of all declared UK political donations between 2001 and 2016.
£1.27 billion is lost annually to fraud, bribery and corruption in the NHS.

And some more stats for you on the Anti-Corruption Day:

The annual costs of international corruption is estimated to amount to a staggering $3.6 trillion in the form of bribes and stolen money.
Corruption often impacts the poorest in societies the most. In Paraguay, the poorest households are forced to pay nearly 13% of their income in bribes – twice as much as the richest households.
Airbus was fined £3.6 billion in February 2020 by courts in the UK, US and France for slush funds, “success payments” and lavish hospitality.
£820 million of this fine was paid in the UK. This is more than double the total of fines paid in respect of all criminal conduct in England and Wales in 2018.

And even more statistics on corruption:

Corruption in the health sector kills an estimated 140,000 children a year.
Up to 25% of public procurement funds are lost to corruption each year.
Governments are spending $7.5 trillion a year on providing healthcare globally. But corruption means that $500billion (7%) of that money is lost.
The World Health Organisation estimates $370billion would be enough to give everyone on the planet access to healthcare.
Every year, pharmaceutical companies, universities and other research groups conduct around 20,000 clinical trials involving over two million patients worldwide, at an estimated cost of over US$60 billion.
An estimated US$85 billion in medical research funding is being wasted every year as trials that cost millions to run fail to contribute to medical progress because their results are not reported.

As you can see from these statistics, corruption is a problem worldwide, costing both huge amounts of money and precious lives. Corruption and bribery can impact any organisation and cause severe harm to businesses, including causing financial loss, dire legal consequences, brand damage, damage to an organisation’s reputation and impeding sustainable development. The only way to get beyond this menace is through international collaboration.

Please make use of this opportunity to educate yourself better and your personnel to work towards a more transparent corporate model while seamlessly integrating it into your day-to-day lives. Ethical business always begins from within, and CRI® Group is more than happy to help you through this.

Matters surrounding risk management and compliance can be daunting, so why not contact CRI® Group? Our experts have years of experience and have been trained to provide your business with bespoke advice that fits your organisations’ needs. Implement preventative measures in your workplace today and guide your team to an ethical and correct way of working on this Anti-Corruption Day.

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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 Management, Employee Background Screening, Business Intelligence, TPRM, 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. 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- Guidelines; ISO 37000:2021 Governance of Organisations; ISO 37002:2021 Whistleblowing Management System; ISO 37301:2021 (formerly ISO 19600) Compliance Management system (CMS); Anti-Money Laundering (AML); and ISO 37001:2016 Anti-Bribery Management Systems ABMS. ABAC® offers a complete suite of solutions designed to help organisations mitigate the internal and external risks associated with operating in multi-jurisdiction and multi-cultural environments while assisting in developing frameworks for strategic compliance programs. Contact ABAC® for more on ISO Certification and training.

CRI® Group’s DueDiligence360™ involves a review of all relevant information pertaining to virtually any business on the planet to ascertain past business dealings, criminal records, executive stability and suspect associations to ensure your organisation is protected from internal threats and outside risks.

CRI® Group’s exclusive 3PRM-Certified™ solution provides Third-Party Risk Management while ensuring compliance with FCPA, UK Bribery Act, Anti-Bribery and Anti-Corruption, and other global, regional and local regulations.

CRI® Group’s EmploySmart™ — a pre-employment background screening process, can boost your fraud prevention efforts and provide a “boots on the ground” approach to extensive background checking.

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Contact CRI® Group today to learn more about preventing and detecting corruption.

Filed under: All Industries, All Regions, All Solutions, ISO 37001 by Roque Fernandes
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Intellectual Property (IP) is defined as the creation of the mind that includes inventions, patents, designs, any type of art, etc. The primary purpose of establishing intellectual property rights is to foster an environment that allows both corporations and individuals to have the freedom to create and innovate, says Marija Lazic on a report published by legaljobs.io

IP is a major driving force behind global economic growth. This is the reason why experts spend a lot of time gathering intellectual property facts and figures. By doing this, experts can measure intellectual property’s efficacy in promoting creativity and development.

Some interesting Intellectual Property Stats

27.7% of jobs in the US come from intellectual property-intensive industries.
38.2% of the US GDP comes from intellectual property-intensive industries.
Intellectual property theft costs the US $225 billion to $600 billion annually.
The average cost of a data breach in the US is $8.64 million.
The average cost to defend a patent lawsuit exceeds $3 million.
Around 12,000 intellectual property cases are filed each year.

The US has held the top spot for tech innovations for a long time. However, reports have shown that eastern countries are catching up, as the World Intellectual Property Organisation (WIPO) statistics indicate. In 2018, the US held the number one spot with 22% of tech innovations, while China was slightly behind with 21%.

The US Department of Commerce states that over 40 million jobs (that’s 27.7% of jobs) come from intellectual property intensive industries. For this reason, the US Intellectual Property Enforcement believes that intellectual property infringement can hurt not just the economy but the US labour force as well.

38.2% of the US GDP comes from IP intensive industries. There’s a strong connection between intellectual property, business development, and economic growth, and numbers prove it. IP intensive industries account for 38.2% of the country’s GDP, amounting to over $6 trillion. (Patent and IP Statistics)

Let’s look at some IP statistics:

As patent and IP statistics show, private companies received 85% of the patent share, 9% was assigned to individuals, 4% to the academic sector, and only 1% to the government sector. The National Science Foundation believes that the government’s small share shows that intellectual property is not the main focus. (Patent and IP Statistics)

2. 90% of US exporters are patent-holding firms

According to intellectual property news delivered by the World Trade Organisation ambassador in 2018, Dennis Shea, as much as 90% of exporters are patent-holding firms. These firms turned out to be better exporters because the number of export transactions increased significantly after the patent acquisition.(Patent and IP Statistics)

3. Copyright workers earn 38% higher wages than other US workers.

US ambassador Dennis Shea pointed out that US industries that rely heavily on IP are most likely to prosper. He used the copyright-based industry as an example. According to intellectual property data, IPR-intensive industries generate many jobs and contribute to the US’s economic growth. These industries generated 5.6 million jobs, where the average income of these workers was 38% higher than the US workforce’s average income.(Patent and IP Statistics)

4. IP accounts for 70% of the value of publicly listed corporations.

It might be challenging to estimate the contribution of IP to the US economy. Still, according to the president’s Economic Report to Congress in 2006, 70% of publicly traded companies’ value was attributed to intangible assets. (Patent and IP Statistics)

5. The number of US patents filed via PCT increased by 2.8% from 2018 to 2019.

The US patent applications increased by 2.8% in 2019. This percentage is an improvement from 2018, as evidenced by the number of patents by country in 2018. Back then, the number of US patents filed dropped by 1.6% compared to 2017. (WIPO Annual Report 2019)

6. 12% of US applications for patents in 2019 were in the field of computer technology.

The US held the top spot when it came to applications for patents in the field of technology in 2019, followed by China and the Republic of Korea that dominated the field of digital communication. (WIPO Annual Report 2019)

7. According to World IP Indicators 2019, the US was the second topmost filer of patents in the world.

A closer look at WIPO’s patent statistics by country shows that the US’s numbers in 2018 saw a decline. The number of patents filed by the US dropped by 1.6%. Despite this decrease in the number of patents filed, the US still ranked second worldwide. (WIPO Annual Report 2019)

8. The number of filed trademark applications increased to 673,233 in 2019.

Trademark applications hit a record high in 2019, reaching 673,233 applications. The number of US trademark certificates was over 2.5 million at the end of the same fiscal year. (Patent and IP Statistics)

9. The US’s trademark office holds 4.5% of trademarks filed worldwide.

WIPO’s trademark statistics 2019 show that the US’s trademark office accounted for 4.5% of the entire trademark filing activity. The report also stated that the US trademark office had the second greatest number of trademarks filed with 640,181 trademarks.(WIPO Annual Report 2019)

10. Intellectual property theft costs the US between $225 billion and $600 billion annually.

IP theft is taking a financial toll on the US economy. The Intellectual Property Commission estimates that intellectual property theft in the form of counterfeit goods, trade secret theft, and pirated software costs the US economy $225 billion to $600 billion. According to intellectual property crimes statistics, that’s about 1% to 3% of the US’s GDP. (IP Theft Statistics)

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11. Counterfeit drug sales in the US amounted to more than $75 billion.

Many people think that IP theft doesn’t do any harm, aside from hurting the economy. However, NCPC maintains that counterfeit drugs have caused a lot of harm to Americans due to substandard quality or mislabelling. (IP Theft Statistics)

12. 21.7% of American CFOs think their companies were victims of IP theft.

In a survey conducted among CFOs, 21.7% confirmed that IP theft happened to their companies in 2018. However, a lot of them admitted that there might not be sufficient proof to confirm their allegations.(IP Theft Statistics)

13. 44% of seized goods are fake watches and jewellery

Almost half of the items seized in the US in 2018 were watches and jewellery, accounting for 44% of all seized items. Apparels and other accessories came in second at 22% of total products.(IP Theft Statistics)

14. IP theft trade statistics show that $1.03 billion worth of counterfeit commodities from China were seized in the US.

In 2019, the US Customs was able to confiscate counterfeit items valued at $1.03 billion, all of which originated in China. The value of seized goods significantly surpassed the value of seized goods from Hong Kong in 2019, amounting to $397.28 million. (IP Theft Statistics)

15. In 2019, the US Customs was able to seize 15,811 products from express delivery services

The US confiscated 15,811 items and 8,982 products from express and mail delivery in 2019. This further hammers home the FBI Director’s statement that defeating IP theft requires vigilance in all sectors. It’s not just the government’s responsibility to keep a watchful eye on the situation if we want to see intellectual property infringement statistics drop. (IP Theft Statistics)

16. The average business’s cost of a data breach in the US is $8.64 million.

In 2020, the cost of an IP data breach to small enterprises is $8.64 million. Last year, it was $8.19 million. These figures might seem like a small amount for big businesses, but corporations’ collective losses are substantial enough to become a threat to US economic security.

On a global scale, data breaches cost $3.86 million per data breach based on recent data breach statistics. (IP Theft Statistics)

17. Around 5,000 patent cases are filed each year in the US.

Since 2012, 5,000–6,000 patent cases have been filed each year. From 2006 to 2011, there were between 2,580 and 3,527 cases, only to increase significantly in 2012. Experts believe that technological advancements are to blame for this increase in patent case filings. (IP Theft Statistics)

18. According to intellectual property litigation statistics, 76% of cases end up in a voluntary settlement.

It’s said that most intellectual property cases end up in a settlement. This is because trials could drag on for years; the longer the trial goes on, the more costly it becomes. At some point, both the plaintiff and the defendant come to the realisation that going to trial isn’t worth the cost and effort. And that’s why a lot of companies seek to settle as soon as possible.(IP Theft Statistics)

19. Patent lawsuits increased by 9% in January 2020 (year-over-year).

According to statistics on IP theft, lawsuits filed against patent infringement saw an increase of 9% in January. Lawsuits filed by patent assertion entities are said to have contributed to this increase.(IP Litigation Statistics)

20. In 2020, the FBI has made 19 arrests on account of Chinese economic espionage.

FBI Director Christopher Wray reported that ever since the Department of Justice launched the China Initiative campaign in 2018 against economic espionage, cases against China have been piling up. In the first half of the 2020 fiscal year, the FBI has already made 19 arrests on Chinese economic espionage. Wray further stated that based on FBI statistics on IP theft, there are still more than 1,000 pending cases against China.

21. Patent assertion entities file 84% of patent lawsuits.

According to statistics, patent assertion entities, also known as patent trolls, make up 84% of all patent lawsuits every year. This figure isn’t surprising since patent lawsuits by patent trolls have increased activity by 500% in the past decade. Their lawsuits have affected over 10,000 companies and cost companies around $80 billion per year. (IP Litigation Statistics)

22. The average cost to defend a patent lawsuit exceeds $3 million.

A lot of companies choose to settle immediately when they are sued for patent infringement. This is because the cost to defend against the lawsuit usually exceeds $3 million. For companies that make less than $10 million, this cost could be detrimental to the business. (IP Litigation Statistics)

23. Around 12,000 intellectual property cases are filed each year.

There are approximately 18,400 cases filed in federal court every year. Of that figure, 12,000 are intellectual property cases.(IP Litigation Statistics)

24. Mediation costs $100,000 per intellectual property case.

The cost of intellectual property litigation skyrockets the moment it is filed. This is why some legal advisers urge clients to go through mediation with the plaintiff due to cost. The cost of a patent infringement case with $10 million to $25 million at risk could range from $2 million to $9 million. In contrast, mediation for the same risk could go as low as $100,000.(IP Litigation Statistics)

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25. Only 13.4% of cases resulted in damaged awards.

According to intellectual property cases statistics within US states, it takes roughly about 2.4 years for an intellectual property infringement case to go to trial. Of those that go to trial, only 13.4% are awarded compensation for damages and losses. One controversial intellectual property infringement lawsuit was the case of technology giant Apple against conglomerate Samsung on the basis of design and utility patents. The lawsuit dragged on for seven years, with the court finally awarding Apple $539 million. (IP Litigation Statistics)

Conclusion

There is no question that intellectual property statistics are essential to understanding the nation’s innovation and development direction. The figures can tell us how well the country is doing with respect to the world’s figures.

All these intellectual property facts from Marija Lazic are essential because intellectual property is one of the significant economic growth factors.

However, the question remains if these figures related to patents and trademarks are sufficient to understand intellectual property complexities thoroughly. Even with companies obtaining legal rights to ideas, creativity, and invention, it doesn’t guarantee a steady growth in the economy. One factor that threatens intellectual property and the economy is intellectual property theft.

The intellectual property statistics listed above illustrate the effects of intellectual property theft on the economy. In-depth intellectual property analysis isn’t necessary to deduce that infringements have already cost countries billions of dollars and millions of jobs.

The FBI Director called on society to join a campaign to put an end to, or at the very least, reduce the number of infringement cases.

The advancement of technology and the ease of obtaining information through digital means double the predicament. That’s why all sectors must participate in strategies to keep intellectual property crime statistics under control.

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How the CRI® Group can help you tackle IP infringement

Infringement of IP rights threatens the fabric of national economies, endangers safety and frequently kills. It devalues corporate reputations, hinders investment, funds terrorism, and costs hundreds of thousands of people their livelihood annually. (ICC)

Our IP Investigations include 1) Trademark Investigations; 2) Intellectual Property Acquisition Services; 3) Patent Investigations; 4) Brand, Media and Internet Monitoring Services; 5) Anti-Counterfeiting Programs; 6) Brand Integrity Programs; 7) Copyright Abuse Investigations; 8) Cyber Surveillance; and 9) Litigation Support.

CRI® Group’s Intellectual Property Investigations team helps companies identify threats to IP and confidential information internally and throughout their supply chain, develop the appropriate mitigation strategies and investigate suspected infringements.

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For further information on IPR infringement or to book a meeting with our experts, click here.

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Filed under: All Industries, All Regions, Automotive, Aviation, Brazil, São Paulo, Business Intelligence, Canada, Toronto, Due Diligence, Finance & Professional services Industry, Food & Beverage, Fraud Risk Investigation, Insurance, Investigative Solution, IP Infringement Investigation, Istanbul, Turkey, IT & Telecommunications, Malaysia, Kuala Lumpur, Middle East, Oil, Gas & Energy, Pakistan, Islamabad, Pakistan, Karachi, Pharmaceutical & Healthcare, Property, Qatar, Doha, Shanghai, Singapore, Singapore, South Asia, Third-Party Risk Management, Uncategorized, United Arab Emirates, Abu Dubai, United Arab Emirates, Dubai, United Kingdom, London, United States of America, New York by Roque Fernandes
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Switzerland has introduced new Corporate Reporting and Due Diligence obligations in connection with conflict minerals and child labour to improve human rights protections around the world.

Switzerland is following international trends and regulations for non-financial reporting and human rights due diligence and the reforms include new rules in the Swiss Code of Obligations related to the trade of minerals and metal ores originating from conflict-affected zones. The resources are reportedly being extracted using forced labour and are a known source of finance for armed conflict, says the EU. The EU implemented the Conflict Minerals Regulation last year as a means of restricting access to these natural resources.

Companies with registered offices or principal places of business in Switzerland have to comply with these due diligence obligations in their supply chain when dealing with the highlighted minerals and metals in Switzerland. They also need to comply with the due diligence duties if they offer goods or services that have suspected links to child labour. The import and processing of recycled materials are not subject to the new rules.

Requirements for Corporate Reporting and Due Diligence

These corporate reporting and due diligence obligations will apply from the start of the financial year in 2023 to Swiss companies of public interest, which as a group together with their controlled companies in Switzerland and abroad meet both of the following requirements over two consecutive financial years:

The group has at least 500 full-time employees (FTEs) on an annual average; and
The group exceeds either total assets of 20 million Swiss francs or a minimum turnover of 40 million Swiss francs.

Companies’ annual reports should cover environmental, social, and employee aspects, human rights, and anti-corruption. It must outline risks and mitigation measures and the relevant due diligence concepts adopted. Foreign companies related to the corporation must also be covered in the report approved by management and shareholders and must remain public for 10 years.

The first reports have to be published in 2024 and failure to do so may result in a fine of up to 100,000 Swiss francs. A report need not be prepared if a written explanation for its absence is provided.

Businesses are required to have or put in place a suitable management system containing their supply chain policy, a system of supply chain traceability, risk assessments, and mitigation measures. This information must be available through on-site controls, and communications with authorities and civil society.

Companies should publish reports on due diligence obligations. These should be accessible for at least 10 years. Making false statements in a report, or failing to comply with the reporting obligation, may lead to a fine of up to 100,000 Swiss francs. Where the failures are negligent rather than intentional, a fine of up to 50,000 Swiss francs could be imposed.
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Exemptions to the requirements exist for businesses with fewer than 500 employees and assets of less than 20 million Swiss francs or a turnover of under 40 million Swiss francs. Large corporations can also apply for exemption provided that they demonstrate their supply chain contains a low risk of child labour or that they respect internationally recognised conventions such as the UN Guiding Principles on Business and Human Rights.

As the ecosystem of corporate responsibility for companies is developing quickly, navigating it safely in the interest of rights-holders requires monitoring corporate behaviour and ensuring that mandatory due diligence requirements can live up to the expectations and deliver results.

Due Diligence investigations: Mitigate Critical Risks

At CRI®, we provide corporate reporting and due diligence services wherever you are. Use our DueDiligence360™ reports to help you comply with anti-money laundering, anti-bribery, and anti-corruption regulations ahead of a merger, acquisition, or joint venture. You can also use them for third-party risk assessment, onboarding decision-making, and identifying beneficial ownership structures.

Due Diligence helps you Identify key risk issues clearly and concisely using accurate information in a well-structured and transparent report format. Our comprehensive range of reports includes specialised reports that support specific compliance requirements. Protect your reputation and the risk of financial damage and regulator action using our detailed reports. They enhance your knowledge and understanding of the customer, supplier, and third-party risk, helping you avoid those involved with financial crime.

The CRI® Group invites you to schedule a quick appointment with them to discuss in more detail how conducting due diligence and compliance can help you and your organisation.

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, TPRM, 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. CRI® Group also holds BS 102000:2013 and BS 7858:2012 Certifications, is an HRO certified provider and partner with Oracle.
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Filed under: All Industries, All Regions, All Solutions, Automotive, Aviation, Business Intelligence, Canada, Toronto, Compliance Solution, Due Diligence, Finance & Professional services Industry, Food & Beverage, Global, Insurance, Investigative Solution, IT & Telecommunications, Malaysia, Kuala Lumpur, Middle East, Oil, Gas & Energy, Pharmaceutical & Healthcare, Property, Singapore, Singapore, South Asia, Third-Party Risk Management, United Arab Emirates, Dubai, United Kingdom, London, United States of America, New York by Roque Fernandes
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An indispensable asset to any organisation, Business intelligence (BI) comprises the strategies and technologies that can be used to make on-the-spot decisions that increase revenue, improve productivity, and accelerate growth. This is done through data analysis and management of business information. Common functions of business intelligence technologies include reporting, online analytical processing, analytics, data mining, business performance management, benchmarking, text mining, predictive analytics, and prescriptive analytics.

This can help an organisation identify, develop, and create strategic business opportunities. Business intelligence is most effective when it combines data derived from the market in which a company operates (external data) with financial and operations data (internal data) from company sources that are internal to the business. The enriched data from business intelligence reporting can provide a complete picture so that you can make any business decision ranging from operational to strategic – such as product positioning or pricing.

Why is Business Intelligence crucial to an organisation?

Business Intelligence Solutions take many shapes and forms in today’s complex business environment. Budgets are stretched and the challenges facing a business and its employees can sometimes lead to issues that start small, but then lead to wider problems. These issues can affect the very fabric of your organisation and damage your credibility, reputation, and bottom-line profits.

Business Intelligence Software Trends for 2022-23

Product information portal FinancesOnline has predicted eight business intelligence software trends for 2022-23. These trends cover market growth, future developments in AI, the convergence of business intelligence and big data, and the next wave in data infrastructure and are worth taking a look at:

1. BI Integration with other systems may slow revenue growth

The industry’s revenue growth slowdown will possibly be caused by BI’s integration with other systems like Enterprise Resource Planning (ERP) and Customer Relationship Management (CRM). We’ve seen the same happen with collaboration software, which started off as its own market before evolving into a regular feature of other software categories, such as task management and communication apps. Thus, BI may “lose revenues” to ERP and CRM products down the line.

2. Defensive Artificial Intelligence on the rise

We are seeing a slight movement in the share of offensive and defensive developments driving artificial intelligence in general. Offensive AI points to developments that lead to transformation and innovation or anything that gives an organisation a competitive advantage. On the other hand, defensive AI developments aspire to cost-savings or compliance, among others. AI drivers were aggressively offensive at 91.7% versus 8.3% defensive in 2019. Two years hence, defensive AI developments have increased to 17.3% share, cutting offensive AI outcomes down to 82.7%.

3. Simpler but more sophisticated mobile BI

Mobile BI acts as an endpoint extension of BI applications. But going by the ubiquity of mobile phones and key smartphone statistics—90% of smartphone usage is on apps—BI vendors will start going the way of communication apps, which have since pursued a mobile-first strategy to keep up with user preference. However, the BI infrastructure will still be intact, a mobile or web app built on a proprietary system. What we’ll see is a more interactive mobile BI app far from what we have today, apps that push static data at best.

4. Big Data Analytics and Business Intelligence are converging

Big data presents to BI huge volumes of diverse datasets from multiple sources and types that can be used for strategy and operations. The volume of data that’ll be created, captured, copied, and consumed worldwide in 2022: 120 zettabytes (that’s 120 trillion gigabytes) (IDC/Seagate, 2020) will nearly double by 2025. Using various tools like automation, machine learning, and predictive and prescriptive analytics, forward-looking BI solutions consolidate and analyse big data from multiple sources and derive and communicate insights to users for data-driven, real-time decisions.

5. More Businesses to use predictive analytics

Allied Market Research sees a demand surge in predictive analytics, having the highest CAGR as a service at 44.3% through 2026, followed by descriptive analytics and prescriptive analytics. Fewer companies will find the need to get help for diagnostic analytics, as the ability to interpret data fits into the role of any company’s leader.

6. Collaborative Business Intelligence

Robots will continue to focus on repetitive tasks but will do things smarter. The evolving technology framework built on the Internet of Things, AI and analytics allows companies to process business intelligence with greater clarity, depth, and precision. Thus, manufacturing is being pushed towards collaborative production, real-time decision-making, predictive and remote maintenance, and simulation and optimisation (Statista, 2021). In the meantime, humans will find themselves doing higher-level tasks such as strategy, management, and design.

7. Data warehouse modernisation

We shall see further integration of machine learning algorithms in BI processes. AI-powered features will be put to task to manage exhausting warehousing processes, mainly for descriptive analytics and predictive analytics. Tasks such as parsing historical data, data benchmarking, forecast modelling, and simulation of numerous scenarios will be handed over entirely to machine learning. Meanwhile, humans will focus on tasks that require context, creativity, and collaboration, mainly the processes in diagnostic analytics and prescriptive analytics.

8. More large-scale data centres

Tech giants are aggressive in expanding not just their data management capabilities, but an entire country’s, too. Microsoft has announced the multi-year investment plan Digital AmBEtion last November 2021 to scale Belgium’s digitisation. We will see similar programs by the tech giants around the globe as they aim to bump up infrastructure in other countries for faster cloud access, advanced data security, and cloud solutions to drive regional economies, says FinancesOnline.

How does the CRI® Group look at Business Intelligence?

We take two approaches to Business Intelligence Services:

Intelligence operations (via market research and analysis): we focus on researching the future and potential growth of your business. This is to determine the commercial viability and potential for success in the market, analyse consumer behaviour and business trends in that market, etc.
Investigative operations (via commercial investigations): we focus on the status of your business. This helps business intelligence companies provide the location of assets, and financial information, identification of unmet needs of any market, and gauge brand awareness and identity in the market.

Why partner with CRI® Group for your Business Intelligence needs?

CRI® has one of the largest, most experienced, and best-trained integrity due diligence teams globally.
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.
We offer flexibility, and we will tailor our scope to address your concerns and risk areas, saving you time and money.
Our extensive solutions include due diligence, employee pre and post-background screening, anti-bribery anti-corruption compliance, business intelligence, and compliance, facilitating any decision-making across your business, regardless of area or department.

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Who is CRI® Group?

Based in London, CRI® Group works with companies across the Americas, Europe, Africa, the Middle East, and Asia-Pacific as a one-stop international Risk Management, Employee Background Screening, Business Intelligence, Due 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, and is an HRO-certified provider, and a 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 Systems, ISO 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.

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Filed under: All Industries, All Regions, Automotive, Aviation, Brazil, São Paulo, Business Intelligence, Canada, Toronto, Finance & Professional services Industry, Food & Beverage, Insurance, Investigative Solution, IT & Telecommunications, Malaysia, Kuala Lumpur, Oil, Gas & Energy, Pakistan, Islamabad, Pakistan, Karachi, Pharmaceutical & Healthcare, Property, Qatar, Doha, Singapore, Singapore, Uncategorized, United Arab Emirates, Abu Dubai, United Arab Emirates, Dubai, United States of America, New York by Roque Fernandes
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The Norwegian Transparency Act entered into force on 1 July 2022, obliging large and mid-size companies to conduct fundamental human rights and decent working conditions due diligence throughout their supply chain and with their business partners.

The Transparency Act covers services and products in a broad sense. Under this Act, consumers, organisations, trade unions, journalists, and the general public will be entitled to request information from companies, and the Norwegian consumer authority may issue injunctions and fines for non-compliance.

Though it is a Norwegian initiative, we see similar initiatives such as Germany’s Supply Chain Due Diligence Act or the UK’s Modern Slavery Act in other European countries.

Who does the Act apply?

The Act applies to companies registered in Norway, and foreign companies that must pay taxes in Norway. These must meet at least two of the three criteria below:

At least 50 full-time employees (or equivalent annual man-hours)
An annual turnover of at least NOK 70 million (£5.9 million)
A balance sheet sum of at least NOK 35 million (£2.95 million)

Integrating environmental aspects and granting access to justice for victims of corporate abuse are two crucial outstanding tasks for the Norwegian legislation. The European Commission is expected to address them under its Sustainable Corporate Governance initiative, as demanded by an overwhelming majority of respondents to the relevant public consultation.

The Norwegian Consumer Agency is the supervisory body for the Transparency Act, while the Market Council will act as the appeal body for appeals against the Norwegian Consumer Agency’s decisions. These bodies will be able to review the companies’ reports to confirm they fulfill the reporting obligation.

Complying with the Act

Managers of enterprises should become familiar with the Transparency Act and its requirements so they can ensure that sufficient resources are allocated for compliance with the Act. They need to establish systems internally that enable them to answer requests within the three-week deadline.

Existing policies and risk assessment forms that form the basis for the due diligence assessment also need to be updated. These policies must cover the requirements of fundamental human rights and decent working conditions. The risk assessment should the enterprise itself, its supply chain, and business partners. Enterprises can turn any potential business risks into a competitive advantage by allocating sufficient resources to the Transparency Act.

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We can help with Due Diligence

The CRI Group has developed a highly specialised assessment solution for Corporate Due Diligence and Third-Party Risk Management to assist organisations in accurately identifying, preventing, mitigating and addressing actual and potential adverse impacts of affiliating with global partners and complies with all EU mandates.

From enhanced due diligence to identify non-compliance of the regulatory framework and damaging environmental allegations to investigating company (or stakeholder) human rights violations related to labour laws, child labour or human trafficking, CRI Group experts help determine the legal compliance, financial viability, and integrity levels of outside partners and suppliers affiliated with your company’s value chain.

The Benefits of Compliance

Recent studies have demonstrated a positive correlation between the extent to which companies implement environmental, social and good governance policies, and their overall economic performance, all while contributing to a more stable global marketplace. Such responsible business conduct will:

Enhance protection for workers
Improve access to justice for victims
Safeguard the environment
Ensure fair products for consumers

Further, apart from general compliance with EU mandates, such organisations will benefit from:

Reduced overall liability risks
Improved stakeholder protection
Lower costs resulting from conflicts
Improved company transparency
More profound knowledge of the value chain
Enhanced reputation in the market &
Improved social standards for workers

CRI Group’s corporate due diligence and accountability solutions can help your organisation comply with a growing list of global regulations and mandates related to human rights and the environment while acting as an integral part of your business decision-making and risk management systems.

Contact the CRI Group to learn more about our Corporate Due Diligence and Accountability solutions and stay one step ahead of the pending EU mandates. We look forward to assisting you.

CONTACT US

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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 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. 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 Systems, ISO 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. Contact ABAC® for more on ISO Certification and training.

Filed under: All Industries, Compliance Solution, Due Diligence by Roque Fernandes
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On November 13, 2019, the new Dutch Child Labour Due Diligence Law was published in the Dutch Government Gazette. It introduces a duty of care for companies to prevent the supply of goods or services which have come into existence using child labour. Companies likely to be affected must set out a plan of action on how to combat it and issue a due diligence statement on their investigation and plan of action.

Though the exact date the act comes into force is not yet known, companies will have six months from the law’s effective date to submit the required documentation demonstrating compliance with the statute. Companies, even those registered outside the Netherlands, selling goods or services to Dutch end-users are required to exercise due diligence to assess whether the services or goods being supplied have been produced using child labour.

Under the Act, firms are required to ensure due diligence through the following:

Investigate their supply chains to identify any suspicion of child labour
Draft and implement a plan of action to terminate child labour if identified from investigations
Create an action plan to avoid the use of child labour
Submit a declaration to the yet-to-be-determined regulatory body, affirming that they have exercised an appropriate level of supply chain due diligence to prevent child labour

In cases of non-compliance with the Child Labour Due Diligence Law, the supervisory authority must first issue a compliance order. It can only impose an administrative fine if the company fails to duly comply with this order.

The consequences of failure to exercise due diligence

Non-compliance with the obligation to submit the required statement can result in an administrative fine of a maximum of EUR 4,350 or a fine of up to EUR 8,700. Failure to exercise due diligence or develop and execute a plan of action as required by the Act may result in a fine of up to EUR 870,000 or a fine of up to 10% of the company’s turnover in the preceding financial year.

Repeated non-compliance with the Act within five years of the imposition of an administrative fine is an economic offense under the Dutch Economic Offences Act. While the Act’s criminal provision is ambiguous, company directors could face up to two years in prison or a fine of up to EUR 21,750.

The Act reflects a significant new step in combating child labour in corporate supply chains, introducing mandatory requirements under an administrative and criminal penalty regime. It fits into an increasing global focus on CSR and labour trafficking in corporate supply chains.

Although several aspects of the Act need to be further clarified by subordinate legislation, companies should start assessing the possibility of any form of child labour in their supply chains. They should also consider reviewing whether existing compliance programs will be sufficient to comply with the Act’s requirements.

Several key questions remain: When will the implementation of the law begin? What should the statement include? What constitutes sufficient due diligence? and Which government body will be in charge of regulating and enforcing the law? These elements will be specified in the General Administrative Orders to be announced by the Dutch government. The law’s effectiveness will largely depend on how these administrative orders take form.

Despite its flaws, the Dutch law is a critical moment for the international movement toward mandatory due diligence.

Due Diligence investigations: Mitigate Critical Risks

At CRI®, we provide due diligence services wherever you are. Use our DueDiligence360™ reports to help you comply with anti-money laundering, anti-bribery, and anti-corruption regulations ahead of a merger, acquisition, or joint venture. You can also use them for third-party risk assessment, onboarding decision-making, and identifying beneficial ownership structures.

On November 13, 2019, the new Dutch Child Labour Due Diligence Law was published in the Dutch Government Gazette. It introduces a duty of care for companies to prevent the supply of goods or services which have come into existence using child labour. Companies likely to be affected must set out a plan of action on how to combat it and issue a due diligence statement on their investigation and plan of action.

Though exact date the act comes into force is not yet known, companies will have six months from the law’s effective date to submit the required documentation demonstrating compliance with the statute. Companies, even those registered outside the Netherlands, selling goods or services to Dutch end-users are required to exercise due diligence to assess whether the services or goods being supplied have been produced using child labour.

Under the Act, firms are required to ensure due diligence through the following:

Investigate their supply chains to identify any suspicion of child labour
Draft and implement a plan of action to terminate child labour if identified from investigations
Create an action plan to avoid the use of child labour
Submit a declaration to the yet-to-be-determined regulatory body, affirming that they have exercised an appropriate level of supply chain due diligence in order to prevent child labour

In cases of non-compliance of the Child Labour Due Diligence Law, the supervisory authority must first issue a compliance order. It can only impose an administrative fine if the company fails to duly comply with this order.

LET’S TALK ABOUT CHILD LABOUR DUE DILIGENCE LAW

The consequences of failure to exercise due diligence

Non-compliance with the obligation to submit the required statement can result in an administrative fine of maximum EUR 4,350 or a fine of up to EUR 8,700. Failure to exercise due diligence or develop and execute a plan of action as required by the Act, may result in a fine of up to EUR 870,000 or a fine of up to 10% of the company’s turnover in the preceding financial year.

Repeated non-compliance with the Act within five years as of the imposition of an administrative fine is an economic offense under the Dutch Economic Offences Act. While the Act’s criminal provision is ambiguous, company directors could face up to two years in prison or a fine of up to EUR 21,750.

The Act reflects a significant new step in combating child labour in corporate supply chains, introducing mandatory requirements under an administrative and criminal penalty regime. It fits into an increasing global focus on CSR and labour trafficking in corporate supply chains.

Although several aspects of the Act need to be further clarified by subordinate legislation, companies should start assessing the possibility of any form of child labor in their supply chains. They should also consider reviewing whether existing compliance programs will be sufficient to comply with the Act’s requirements.

A number of key questions – such as when the implementation of the law will begin, what the statement should include, what exactly constitutes sufficient due diligence, and which government body will actually be in charge of regulating and enforcing the law – remain unanswered for now. These elements will be specified in the General Administrative Orders to be announced by the Dutch government. The law’s effectiveness will largely depend on how these administrative orders take form.

Despite its flaws, the Dutch law is a critical moment for the international movement toward mandatory due diligence.

LET’S TALK ABOUT CHILD LABOUR DUE DILIGENCE LAW

Due Diligence investigations: Mitigate Critical Risks

At CRI®, we provide due diligence services wherever you are. Use our DueDiligence360™ reports to help you comply with anti-money laundering, anti-bribery, and anti-corruption regulations ahead of a merger, acquisition, or joint venture. You can also use them for third-party risk assessment, onboarding decision-making, and identifying beneficial ownership structures.

Due Diligence helps you Identify key risk issues clearly and concisely using accurate information in a well-structured and transparent report format. Our comprehensive range of reports includes specialised reports that support specific compliance requirements. Protect your reputation and the risk of financial damage and regulator action using our detailed reports. They enhance your knowledge and understanding of the customer, supplier, and third-party risk, helping you avoid those involved with financial crime.

The CRI® Group invites you to schedule a quick appointment with them to discuss in more detail how conducting due diligence and compliance can help you and your organisation.

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, TPRM, 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. CRI® Group also holds BS 102000:2013 and BS 7858:2012 Certifications, is an HRO certified provider and partner with Oracle.

CONTACT US

Filed under: All Industries, Compliance Solution, Due Diligence by Roque Fernandes
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With the EU Due Diligence Legislation in play, the concept of mandatory human rights due diligence for companies is gaining momentum among governments and businesses in Europe. So how does this legislation matter? In terms of working conditions in India, for example, a government report found that:

A sizeable number of workers in India earn less than half of the accepted minimum wage
71% do not have a written employment contract
54% do not get paid leave
Nearly 80% of these in urban areas work well beyond the eight-hour workday (48-hour week).

The tragic collapse of the Rana Plaza factory in Bangladesh in 2013, which claimed the lives of over 1,000 people, confirmed for European lawmakers the need to establish a strict liability regime for corporate supply chains, says a report by Dr Daniel Sharma on dlapiper.com

The EU Due Diligence Legislation imposes liabilities on companies that procure their products through supply chains from India and South Asia and sell them in Europe. The aim is to establish sanctions under public law and establish complaint procedures for affected parties.

Navigating Human Rights Due Diligence requirements

Let us take a look at how companies with supply chains to India and South Asia can safely navigate this new regulatory landscape at the EU level:

A good start would be to conduct an independent risk analysis of the company’s value chains, looking at the risk of potential human rights or environmental violations. Needless to say, this risk analysis must be conducted by independent third parties with knowledge of systems in India and South Asia.
Companies should create a compliance structure and screening mechanism taking into account the cultural diversity of India and South Asia and ensuring that suppliers comply with the due diligence obligations.
Companies must conduct a risk analysis of their value chains annually to verify that the due diligence mechanisms installed concerning their value chains are working and conduct an effective analysis of their preventive grievance mechanisms.
Preventive measures need to be adopted for factors identified within the company’s value chain during the required risk analysis. This should be done by preparing agreements in which the suppliers are also required to comply with due diligence requirements relating to human rights, labour and environmental standards.
Issuance of a policy statement regarding respect for human rights and the use of transparent and public reporting processes will also make the system robust for both the company as well as their suppliers.
Random checks of the aforementioned requirements at regular intervals should also be part of effective supplier management, and suppliers can be asked to ensure that compliance standards are also observed in the downstream value chains.

Implementing the above will allow companies to safely navigate European supply chain legislation without exposing themselves to sanctions or penalties.

We can help with Human Rights Due Diligence

The CRI Group has developed a highly specialised assessment solution for Corporate Due Diligence to assist organisations in accurately identifying, preventing, mitigating and addressing actual and potential adverse impacts of affiliating with global partners and complying with all EU mandates.

From enhanced due diligence to identify non-compliance with the regulatory framework and damaging environmental allegations to investigating company (or stakeholder) human rights violations related to labour laws, child labour or human trafficking, CRI Group experts help determine the legal compliance, financial viability, and integrity levels of outside partners and suppliers affiliated with your company’s value chain.

About CRI Group

Based in London, CRI Group works with companies across the Americas, Europe, Africa, the 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. CRI Group also holds BS 102000:2013 and BS 7858:2012 Certifications and is an HRO-certified provider and partners 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 Systems, ISO 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. Contact ABAC® for more on ISO Certification and training.

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Filed under: All Industries, All Regions, Business Intelligence, Compliance Solution, Due Diligence, Industry Insights, Investigative Solution by Roque Fernandes
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The most popular type of fraud is misappropriation of assets, including theft of cash and inventories. The motivation to commit fraud include a lack of understanding about fraud behaviour, opportunity to commit fraud and lifestyle and financial pressure.

The motivation for employee to commit fraud stems from three conditions:

Need
Opportunity &
Rationalisation

Let us look at this case from 2019 which resulted in the conviction of a UK solicitor for fraud.

UK solicitor, Andrew Davies jailed for defrauding his firm of £2.3m

A former senior partner, the UK solicitor, has been jailed for four years after defrauding his firm out of a total of £2.3m. Andrew Davies, 59, paid personal invoices to himself from the business and under-declared £1.1m in stamp duty land tax to HM Revenue and Customs (HMRC) for over nine years.

Davies pleaded guilty to one count of fraud by false representation at Reading Crown Court in 2019 and was sentenced to four years imprisonment in January this year. As a senior partner at the firm, Andrew Davies managed to defraud it out of the money by paying personal invoices to himself from the business account.

The 59-year-old also under-declared £1.1m in Stamp Duty Land Tax to HMRC over nine years, over-declaring tax to clients and then taking money from the solicitor’s firms account for himself, both defrauding the company he worked for and HMRC at the same time.

Davies also raised invoices to pay over £1.6 million to his friend Stephen Allan, who worked as a property developer and was a firm client. The 62-year-old from Bishop’s Stortford was convicted at Reading Crown Court on one count of money laundering and jailed for three years.

In a statement, police mentioned the convictions and sentencing of a solicitor’s firm in Berkshire defrauded out of £2.3m between 2010 and 2017.

Allan then made smaller payments into Davies’ account and also pocketed around £400,000 himself. The solicitor extracted funds from the firm’s client account, paying it to Allan in transactions described as ‘fees’, but there was no known work for this.

Davies of The Street, West Clandon, Guildford, and Allan of Thornberry Road, Bishops Stortford, Hertfordshire, was charged by police officers in August 2019.

The statement did not name the firm, but a Solicitors Regulation Authority notice has previously stated that Davies worked for Reading firm Pitmans LLP, which has since become part of another practice. Davies has already been struck by the Solicitors’ Disciplinary Tribunal and ordered to pay £17,000 in costs.

Investigating officer Detective Constable Katie Taylor of Thames Valley Police’s Economic Crime Unit said: ‘In this case, a solicitor trusted to safeguard client funds abused this position and systematically defrauded his firm of large sums of money for his benefit.

‘He then used a corrupt relationship to launder the proceeds of his crime through a property developer. These professional enablers of organised crime represent a significant risk, and we hope that the conviction and sentence, in this case, will act as a deterrent to others.’

Source: Financial Crime News & The Law Society Gazette

Protecting your company from employee fraud

Employee background check and employment history check is vital to avoid horror stories and taboo tales within HR, your business, or your brand. Simply investing in sufficient employment screening services can save you time, money and heartbreak.

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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 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. CRI Group also holds BS 102000:2013 and BS 7858:2012 Certifications, is an HRO certified provider and partner with Oracle.

In 2016, the CRI Group launched the Anti-Bribery Anti-Corruption (ABAC®) Center of Excellence – an independent certification body established for ISO 37001 Anti-Bribery Management Systems, ISO 37301 Compliance Management Systems and ISO 31000 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.

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Improving commitment to Mandatory Due Diligence

Corporates are bound to get in line with human rights due diligence guidelines, as prescribed by the UN Guiding Principles on Business and Human Rights. Yet very few actually comply with the standards and nearly half of the biggest companies in the world analysed in the latest Corporate Human Rights Benchmark could not produce any proof of mitigating human rights issues in their supply chains.

The KnowTheChain benchmarks showed companies scoring a poor 29% for their human rights due diligence efforts — something that mandatory human rights and environmental due diligence laws seek to address.

For these laws should to be effective, a few important factors need to be factored in, such as a due diligence obligation for businesses across their global value chains; an effective and safe stakeholder engagement; mandatory requirements that go beyond routine check and audits, a thorough look at irresponsible business models and purchasing practices, and strong civil liability enforcement.

BOOK A MEETING

We can help with Mandatory Due Diligence

The CRI Group has developed a highly specialised assessment solution for Corporate Due Diligence and Third-Party Risk Management to assist organisations in accurately identifying, preventing, mitigating and addressing actual and potential adverse impacts of affiliating with global partners and complies with all EU mandates.

From enhanced due diligence to identify non-compliance of the regulatory framework and damaging environmental allegations to investigating company (or stakeholder) human rights violations related to labour laws, child labour or human trafficking, CRI Group experts help determine the legal compliance, financial viability, and integrity levels of outside partners and suppliers affiliated with your company’s value chain.

The Benefits of Compliance

Recent studies have demonstrated a positive correlation between the extent to which companies implement environmental, social and good governance policies, and their overall economic performance, all while contributing to a more stable global marketplace. Such responsible business conduct will:

Enhance protection for workers
Improve access to justice for victims
Safeguard the environment
Ensure fair products for consumers

Further, apart from general compliance with EU mandates, such organisations will benefit from:

Reduced overall liability risks
Improved stakeholder protection
Lower costs resulting from conflicts
Improved company transparency
More profound knowledge of the value chain
Enhanced reputation in the market &
Improved social standards for workers

CRI Group’s corporate due diligence and accountability solutions can help your organisation comply with a growing list of global regulations and mandates related to human rights and the environment while acting as an integral part of your business decision-making and risk management systems.

Contact the CRI Group to learn more about our Corporate Due Diligence and Accountability solutions and stay one step ahead of the pending EU mandates. We look forward to assisting you.

CONTACT US

GET A QUOTE

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 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. 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 Systems, ISO 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. Contact ABAC® for more on ISO Certification and training.

Filed under: All Industries, All Regions, Compliance Solution, Due Diligence, Leadership Insights by Roque Fernandes
Comments Off on What’s your plan of action for Mandatory Due Diligence?

The Intellectual Property Commission estimates that IP infringements in the form of counterfeit goods, trade secret theft, and pirated software costs the US economy $225 billion to $600 billion.

Following the outbreak of the COVID-19 pandemic in late 2019 and its subsequent spread around the world, counterfeiters have turned their attention to producing fake testing kits, counterfeit personal protection equipment and, even before the authorities have approved treatments, fake medicines purporting to cure the disease, according to the 2020 status report by the European Union Intellectual Property Office (EUIPO) and the Organisation for Economic Co-operation and Development (OECD).

The joint report on counterfeit medicines showed that not only ‘lifestyle’ medicines but also medicines to treat serious diseases, including antibiotics, cancer therapies or heart disease medications, are subject to being counterfeited, with potentially deadly consequences for the patients who consume those medicines.

This report underlines the importance of IP rights to the EU economy and, therefore, to any recovery from the Covid-19 crisis, which has dominated the first half of 2020 and threatens to have long-lasting effects. It brings together the findings of the research carried out in recent years by the EUIPO, through the European Observatory on the infringement of Intellectual Property Rights, on the extent, scope and economic consequences of Intellectual Property Right (IPR) infringement in the EU.

The Status Report also contains research on the volume of counterfeit and pirated goods in international trade and the economic contribution of intellectual property-rights intensive industries to economic growth and jobs.

IP Rights and your employees

Depending on the type of business you are involved in, it is likely that your employees will create certain types of intellectual property in the course of their employment with you. This is especially true if they are involved in compiling databases, creating marketing material and training brochures. Since the IP rights here belong to the company they work for, an employee contract will serve to protect you here.

It is also vital here to run background checks on employees before you hire them.

Employee Background Checks

Simply investing in sufficient employment screening services can save you time, money and heartbreak. The CRI Group is a leading worldwide provider, specialising in local and international employee background check, including pre employment background check.

Our employee background checks services, also known as EmploySmart™, is a robust new pre employment screening service certified for BS7858 to avoid negligent hiring liabilities and prevent horror stories and taboo tales within HR, your business, or your brand.

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How the CRI® Group can help you tackle IP infringement

CRI® Group’s Intellectual Property Investigations team helps companies identify threats to IP and confidential information internally and throughout their supply chain, develop the appropriate mitigation strategies and investigate suspected infringements.

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For further information on IPR infringement or to book a meeting with our experts, click here.

Meet our IPR Infringement Investigation Manager

Mahamad Thouhid – e: mahamad.thouhid@crigroup.com – is an experienced Investigations Specialist with a demonstrated history of working in the investigations and intelligence industry. Skilled in investigative planning and reporting, delivering innovative IP/Brand protection (Anti Counterfeit, Products tampering, Anti diversion and Infringement), OSINT, law enforcement, liaison with Govt. Authorities, operations management, due diligence, etc.

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Filed under: All Industries, Background Investigation, Business Intelligence, Compliance Solution, Due Diligence, Employee Background Check, Investigative Solution by Roque Fernandes
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