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> Corporate fraud and corruption is growing in United Kingdom (UK). In a devastating article, Oliver Bullough proved that UK is quickly becoming the money-laundering capital of the world. Read more about the situation in UK now!

Newly published whitepapers examine corruption laws and fraud

Fraud and corruption are always evolving. Changes in methods, technology and other factors make it critically important those trying to prevent and detect it to evolve, as well. Part of that process is to analyse fraud, corruption, bribery, money laundering and other crimes through the lense of research and casework. When experts share their findings and their knowledge into the numerous laws and regulations that address fraud, everyone benefits – especially vulnerable businesses and other organisations. CRI Group has recently published three new whitepapers that provide insightful looks into issues at the forefront of fraud and corruption today. They range from deep dives into the U.S., U.K. and other anti-fraud and anti-corruption laws around the world, to close examinations of actual fraud cases that hold lessons for all of us. We invite you to download these whitepapers and increase your knowledge of fraud, corruption, proper compliance, risk assessments, due diligence and more.

1. “The Catalysts for Economic Crime: An Investigative Study Into Causal Factors of the Perpetration of Transnational Financial Crimes”

This whitepaper provides an in-depth study of transnational financial crimes and the national laws and regulations that govern them. 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 as to how weaknesses in national laws can be considered “a core causal factor in the perpetration of transnational financial crimes.” Readers will learn about the need to strengthen such laws or risk continued and increased criminal activity.

Different types of financial crimes are examined, including money laundering, due to its prominence as a form of transnational financial crime. The research provides a detailed discussion of the inadequacies in current national laws, and proposes solutions through increased accountability, compliance-focused on self-governance and heightened monitoring for violations, among other important considerations.

Download the whitepaper for free.

2. “Countering Bribery & Corruption in the Public & Private Sectors: Anti-Corruption Culture, Risk Assessment, Auditing & Compliance”

This publication provides an insightful look at the responsibility of corporations to monitor and mitigate risks. This whitepaper examines two high profile corruption cases, Airbus and Rolls-Royce, to provide a deeper understanding of how bribery and other financial crimes can take root at organisations without proper prevention procedures and inadequate controls.

The global nature of the enterprise that makes corruption even more prevalent in modern times also makes prevention more difficult. When it comes to putting procedures in place to prevent bribery and corruption, “the concept of ‘adequate procedures’ is “vulnerable to interpretation depending upon national or industrial jurisdiction … and many enforcement agencies and government authorities have failed to provide guidance regarding the definition of ‘adequate procedures’ as it shapes both Anti-Corruption guidelines and legal defence.

Case studies often provide an extremely effective way of demonstrating the effect of inadequate controls and procedures when it comes to corruption. In the cases of Airbus and Rolls-Royce, the financial crimes and their ramifications were significant. Airbus committed to financial penalties of $4 billion; a system of “intermediary leverage” involved hundreds of its agents in 16 countries “to encourage national and airline purchase of the company’s civilian aircraft and satellites.” In the case of Rolls-Royce, a four-year investigation uncovered corruption, false accounting and failure to prevent bribery, leading to fines in excess of ?497.2 million – which accounted for approximately 3.4% of Rolls-Royce’s revenues for 2016. Find out what can be learned from these cases and how proper controls could have prevented them.

> Download the whitepaper for free.

3. “Organised Catastrophe of Pakistan International Airlines: Major Critical Risk Elements – Mismanagement – Corruption”

This whitepaper provides another case study, this one a close examination of Pakistan International Airlines (PIA) which has been embroiled in a scandal. The cases of professional fraud involve fake degrees and fraudulent licenses, and there have been cases of air accidents with loss of lives. This white paper investigates how the PIA case is not a coincidence, but rather an “organised failure of institutional management, state, and internal controls.”

In fact, the PIA investigation comes at a time when fraud and corruption among state-owned enterprises in Pakistan and elsewhere is rising at an alarming rate. This has links to fraud in governmental institutions, and PIA is just a high-profile example of what can result when such corruption goes unchecked.

This whitepaper analyses two major risk elements at PIA, in terms of mismanagement, and corruption in the form of kickbacks. This research paper also proposes solutions for dealing with such systemic, organizational crimes, the foundation of which is to implement a business-based risk management framework.

Download the whitepaper for free.

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 IntelligenceDue 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 Anti-Bribery Anti-Corruption (ABAC®) Center of Excellence – an independent certification body established for ISO 37001:2016 Anti-Bribery Management Systems, ISO 19600:2014 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.

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 normal channels of communication, 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.

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