Responsible Management and CEOs

As of 13 August 2020, COVID-19 has affected more than million people globally, including 744,385 deaths, reported to WHO. The virus has also had severe economic implications, leaving organizations facing a unique set of new challenges that can only be summed up in one word: uncertainty. And the only way to navigate these uncertain times is through leadership. This is critical right now, as COVID-19 has magnified societal vulnerabilities. Good leaders can and should lead society into a new “normal”. However when Harvard economist Greg Mankiw argued in a New York Times opinion piece that CEOs are qualified to make profits, not lead society this is somewhat inadequate to the times we live in now. Furthermore, Doug Sundheim, contributor at Forbes, has argued in his article “CEOs Have A Responsibility To Help Lead Society” that Greg’sc arguments just simply do not fit today’s business models. This “shareholder-first business model” originated from 1970, however 50 years on a lot has changed and at a time when over 70% of the largest entities on earth are corporations, not nations, Mankiw’s view is troubling. 

The sheer number of corporations around the world should make us understand that business impacts societies on a global scale; therefore, business leaders have the responsibility to at least consider those societies and how they impact them. The singular management goal of CEOs is no longer about maximizing returns to shareholders, but to support society as business has grown more interconnected and complex. Today, business and society are weaved together in an intricate way, both depending on the other for stability and success. 

The COVID-19 pandemic has also changed businesses and created a surge in the number of positive collaborations between companies, institutions and governments. Our article “COVID-19 prompted innovative leadership” reflects how Mankiw fails to grasp the world in which CEOs are now in fact leading communities and helping societies.

Mankiw asks the reader to imagine having to make an executive decision and how effective and simplier it is when your only priority is profits, and not the wider set of stakeholders – i.e., employees, suppliers, communities, and shareholders. Mankiw defends the idea that corporate management’s mandate should be the narrow self-interest of achieving greater profits for shareholders, not broad social welfare. He goes on to list several additional hypothetical questions. A social-driven leader would have to consider:

• How do you weigh those losses against the gains to the would-be workers at the new plant?
• How much will the closure of the old plant hurt its workers and their community?
• Does it matter whether the new plant is in South Carolina, providing jobs for American workers, or in Mexico, providing jobs for Mexican workers?
• How should you weigh the benefit of electric cars in mitigating climate change? 
• How should you balance these concerns against the interests of shareholders, who entrusted you to invest their savings?

However, the above questions are now part of the many new demands from consumers, talent and governments. 

Consumers have changed; they are no longer only interested in the end product. Consumers are demanding more from companies for their buy-in. And every corporate leader has to include some version of the above questions in their considerations if they want to succeed. Top CEOs say social responsibility should be prioritised over profits proving that social responsibility planning; it’s officially basic business planning. Last year the bosses of 181 Leading US’s biggest companies dropped the shareholder-first principle – they changed the official definition of “the purpose of a corporation” (from making the most money possible for shareholders) to “improving our society.”

Most successful CEOs and corporate leaders have profit in mind, and they always will; but they are also considering the needs of a variety of stakeholders, including the communities they impact. In this day and age, CEOs and corporate leaders are rising up to social expectations and are balancing the demands of multiple stakeholders.

Mankiw questioned CEOs’ and corporate leaders’ ability to be broadly competent social planners.  Paul Polman (former Unilever CEO) talks about creating collective courage. He rightly argues that it’s difficult for one industry player to impact an issue like reducing greenhouse gases because of the loss of competitiveness. However, if 20% of industry players come together, they can begin tipping the scales.  It’s starting to happen. In this way, by unifying their efforts, corporations, governmental agencies, and NGOs can partner to lead society.

CEOs and other leaders now find themselves in a changed world … they can and should play a variety of leadership roles that move beyond narrow profit maximization. This is a social responsibility, not broad social planning. Short-term earnings no longer feature in the top of the mission statement for most successful companies. We’re starting to find our way back to a more balanced view, and we need CEOs’ leadership in the process.

Mankiw admits that the world needs people to look out for the broad well-being of society – elected leaders who are competent and trustworthy – but those people are not CEOs. However, Mankiw fails to acknowledge just how much influence CEOs and corporate leaders have over our elected officials and the legislative process. Today, large corporations and their associations outspend labour and public interest groups 34 to 1 on lobbying efforts in the US.

In today’s high-risk environment, businesses have to pay attention to their social and environmental roles not only due to demand, but out of responsibility for the damage they (can) cause. For example, companies that contribute to, but then deny, climate change – the attorneys general of several American states launched investigations into ExxonMobil and whether they had committed fraud by sowing doubts about climate change – even as its own scientists knew it was taking place to firms involved in botched Grenfell Tower revamp refusing to accept responsibility for tragedy. Then there is Chamath Palihapitiya, former Facebook executive, who expressed regret for his part in building tools that destroy ‘the social fabric of how society works’. Companies are responsible for causing great damage on a human scale. We have to hold companies, CEOs and brands accountable for their destructive impact in today’s society; while they have a responsibility to support and help lead society.

CEOs and corporate leaders are exerting immense influence behind the scenes; therefore, qualified CEOs and corporate leaders should step up and help lead on the thorny economic issues of the day. However, with great power comes great social responsibility. Not all of the corporate leaders are equipped to lead societies; therefore, they should take a significant weight off the scale. Contrary to what Mankiw and others of his mindset might think, we must continue to demand more from our corporations, their boards, and their CEOs and leaders. Corporate leaders can make a unique and lasting positive impact, too.

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 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 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 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 organizations. 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 organizations. 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. CRI® Group maintains offices in UAE, Pakistan, Qatar, Singapore, Malaysia, Brazil, China, the USA, and the United Kingdom.

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

Filed under: Background Investigation, Compliance Solution, COVID-19 Insights, Due Diligence, Employee Background Check, Investigative Solution, ISO 37001, Resources, Third-Party Risk Management by admin
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COVID-19 Prompted Innovative Leadership

As of 3 September 2021, COVID-19 has affected more than million people globally, including 218,580,734 deaths, reported to WHO. The virus has also had severe economic implications, leaving organizations facing a unique set of new challenges that can only be summed up in one word: uncertainty. And the only way to navigate these uncertain times is through effective leadership. Good leaders can deliver on their mission in innovative ways while envisioning a new “normal”. This is critical right now, as COVID-19 has magnified not only societal vulnerabilities but vulnerabilities in business, as well.

Navigating the complexities of the unforeseen COVID-19 crisis has left many businesses struggling. Crisis often fuels innovation, however, and most organizations are stepping up with unique contributions and excellent leadership at a time when it is needed most. Leaders at the forefront of the COVID-19 pandemic – epidemiologists, data and behavioral scientists, academics, engineers, military logisticians and businesses – are collaborating (probably for the first time) to solve seemingly intractable problems.

These leaders are driving innovation with therapeutic, economic, and community-based solutions that are having a significant impact on the global pandemic. From the creation of multi-million global relief funds to shepherding vaccine development and treatments; from payment deferrals for people and businesses facing financial hardships to digital/telehealth solutions such as Beneficial Business Exchange (a self-service virtual community that matches urgent needs with critical resources); from solving supply chain challenges to creating innovative new products; leaders are adapting and making decisions to help their organizations weather the storm and survive the crisis.

For example, with ventilators in short supply (a critical need during the pandemic), Mercedes stepped up by collaborating with the University College London and clinicians at University College London Hospital to develop the Continuous Positive Airway Pressure (CPAP) ventilator. In South Korea, health authorities, vice-Health Minister Kim Gang-lip, businesses and students joined forces at an early stage of the COVID-19 pandemic. With their combined technological expertise and creative thinking skills, they produced a drive-through COVID-19 test; a body sterilizer that sprays people as they enter halls; and a health tracker app for overseas visitors. These and other innovative solutions have shown how collaboration between leaders is beneficial.

The COVID-19 pandemic has driven technological innovation. With more people working from home, internet and online services have been stretched to the limit. Behind strong leaders at Apple, Google, Amazon and other leading tech giants, companies have responded to fill needs in this new online framework. Web meetings, online shopping and other technological aspects driven by COVID-19 have forced quick adaptation and innovation to meet consumers’ needs and, in some cases, keep the economy going.

The reality is that leaders who push innovation during this crisis are setting their organizations up for better success once the crisis has passed. In fact, history suggests that companies that invest in innovation through a crisis outperform peers during the recovery. This finding came to light during the SARS outbreak and the 2009 financial crisis, among others. Statistics show that companies that maintained a focus on innovation during the 2009 crisis subsequently outperformed the market average by over 30 percent after the crisis resolved. This demonstrated a far-sighted approach with significant benefits beyond just a company’s survival.

Leaders and CEOs have creatively solved problems and inspired others by taking action and making decisions that might typically take months to emerge from the typical treacle of bureaucracy. However, good innovative leadership will continue to emerge, transform and discover new ways to tackle COVID-19 challenges. Resilient leaders can see a crisis as an opportunity to elevate and define their corporate culture; resilient leaders can find clarity by testing every decision against touchstones. Their companies, and the communities and people they serve, are counting on them.

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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 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 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 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 organizations. 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 organizations. 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. CRI® Group maintains offices in UAE, Pakistan, Qatar, Singapore, Malaysia, Brazil, China, the USA, and the United Kingdom.

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

Filed under: All Industries, COVID-19 Insights, Leadership Insights, Resources by admin
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The Little Book of Big Scams by MET

The Little Book of Big Scams was released in 2012 by The Metropolitan Police Service’s Operation and after its huge success the MET has released a new version. The Little Book of Big Scams is specifically designed to protect small and medium enterprises (SMEs). SMEs accounts for 99% of all UK businesses and employ over 13 million people, as they foster local economies, supporting neighbourhoods and communities – therefore, it is vital to protect these from fraud. The Little Book of Big Scams provides excellent guidelines on how to protect your business from fraud:

1. 10 top tips to help you fight fraud
2. Fraud myth busters
3. It can happen to you (case study)
4. Current fraud trends
5. Fraud prevention
6. Fraud strategy steps
7. Practical advice
8. 12 steps to take action to reduce fraud risk
9. Useful hints and relevant legislation
10. Business frauds you must be aware of 
11. Case studies: fraud does happen
12. How to report fraud

Read The Little Book of Big Scams now! The Metropolitan Police Service is the territorial police force responsible for law enforcement in the Metropolitan Police District (currently consists of the 32 London boroughs).

If you find yourself in an ethical dilemma or suspect inappropriate or illegal conduct, report it. 

Our Ethics & Compliance Hotline is an anonymous reporting mechanism that facilitates reporting of possible illegal, unethical, or improper conduct when the normal channels of communication have proven ineffective, or are impractical under the circumstances. This hotline is available to all employees, as well as clients, contractors, vendors and others in a business relationship with CRI Group and ABAC Group.

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. At CRI Group, we are committed to having an open dialogue on ethical dilemmas regardless.[/vc_column_text][/vc_column][/vc_row][accordion_father caption_url=””][accordion_son title=”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 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.[/accordion_son][/accordion_father][vc_empty_space][/vc_column][/vc_row]

Filed under: Anti-Bribery Anti-Corruption Solution, Industry Insights, Resources by admin
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FTC Guide for Small Business to Avoid Scams

Federal Trade Commission (FTC) has released a guide for small business.
Scams & Your Small Business guide is part of FTC’s efforts to help small business owners to avoid scams.

If you are a small business owner or are part of a non-profit organisation, you spend a time and energy on making sure your organisation works well. But when scammers go after your business, it can hurt your reputation and your bottom line. The guide explains common scams that target small businesses, describes scammers’ tactics, and provides steps that you can take to protect your business from scams. Tell your employees and colleagues what to look for so they can avoid scams.

Scams & Your Small Business guide can be your best protection against scammers. Check out the guide here!

Speak Up Against Scams

Report any illegal, unethical, or improper behavior. Our Ethics and Compliance Hotline is an anonymous reporting mechanism that facilitates reporting of possible illegal, unethical, or improper conduct when the normal channels of communication have proven ineffective, or are impractical under the circumstances.

At CRI® Group, we are committed to having an open dialogue on ethical dilemmas regardless. This hotline is available to all employees, as well as clients, contractors, vendors and others in a business relationship with CRI® Group and ABAC® Group.

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 number will be generated automatically once you complete the report.

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 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 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 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 organizations. 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 organizations. 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. CRI® Group maintains offices in UAE, Pakistan, Qatar, Singapore, Malaysia, Brazil, China, the USA, and the United Kingdom.

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

7th Floor, South Quay Building, 77 Marsh Wall, London, E14 9SH United Kingdom

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

Filed under: Automotive, Aviation, Finance & Professional services Industry, Insurance, Investigative Solution, IT & Telecommunications, Oil, Gas & Energy, Resources by admin
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Banking industry squad prevents £20m of fraud

Banking industry squad disrupted 23 Organized Criminal Groups (OCGs) preventing £20 million of fraud. The specialist police unit (DCPCU) is funded by the finance and banking industry in a dedicated effort to stop fraud.

Commonly known as the banking industry squad, the DCPCU (Dedicated Card and Payment Crime Unit) is a joint effort between the Metropolitan Police Service, the City of London Police as well as banking industry fraud investigators. Supported by UK Finance, DCPCU is on the frontline in the fight against fraud. And over the past year, the unit has worked in partnership with several social media platforms to take down over 1,600 accounts which featured posts relating to payment:

• 500 “money mules” accounts used to recruit young people
• 250 accounts involved in the trading stolen card details
• +400 “brokers” accounts 
• with the rest of the accounts used for “flipping”

In 2019 DCPCU seized £1.65 million of assets – over double the amount confiscated in the same period in 2018 – with a total of 75 fraudsters convicted to a total of 100 years in prison. DCPCU operational successes include:

• “Money mule” gang worth over £1.2 million and sentenced to nearly seven years in prison.
• Smising scam of worth £27 million disrupted and prevented with the combined prison sentence of over 14 years for two Londoner criminals who committed almost half a million pounds of fraud
• One individual from London found to have committed £50,000 of fraud and consequently sentenced to two years and nine months in prison
• A criminal committed over £31,000 of fraud in a Stolen card scheme

The DCPCU is very effective in disrupting criminals and a powerful example of how important is it that all sectors – i.e. banking industry – work with law enforcement to protect the public from fraud. 

Read more on what the Head of the DCPCU, Detective Chief Inspector Gary Robinson, UK Finance Managing Director of Economic Crime and National fraud coordinator, Commander Karen Baxter have to say. Read NOW!

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 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 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 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 organizations. 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. CRI® Group maintains offices in UAE, Pakistan, Qatar, Singapore, Malaysia, Brazil, China, the USA, and the United Kingdom.

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

Filed under: Finance & Professional services Industry, Industry Insights, Resources, United Kingdom, London by admin
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7 Traits of a Resilient Leader

Every successful leader has encountered a challenging scenario at some point in their career. The unprecedented COVID-19 pandemic, however, has forced leaders to face unforeseen new challenges. With the pandemic’s colossal impact on operations, workforces, profits and supply chains across the globe, all eyes are on leadership to guide their businesses through this crisis. Resilient Leader

Resilient leaders are generally seen as more effective, making them an asset to any business; but what is resilience and how can it be applied to your management skills?

What is Resilience?

Resilience is the capacity to recover quickly from difficulties; it is a further evolution of stress management. This makes it a “no brainer” as to why resilience is such a popular concept in today’s business environment. Many businesses are pushing the concept of resilience as a way of helping workers better cope with the stresses and strains of the modern-day office and unlock their performance potential.

In this article, we look at seven essential qualities that characterise resilient leaders, and how to increase your resilience. In general, resilient leaders:

1. Show empathy
2. Are adaptable and able to improvise
3. Are self-aware and open to feedback
4. Take calculated risks
5. Keep a positive attitude
6. Develop others
7. Communicate effectively

1. Resilient Leaders Show Empathy

COVID-19 has generated one of the greatest challenges and, simultaneously, one of the greatest opportunities for resilient leaders – at all levels. According to a Gallup U.S poll, six in 10 people are “very” or “somewhat worried” that they or a family member will be exposed to COVID-19 (Gallup, 2020). During this crisis, emotional management is even more crucial than ever. According to studies carried out by Development Dimensions International (DDI), empathy is the most critical leadership skill. Leaders who display compassion, authenticity and vulnerability – and are capable of apologising when they’re wrong and handle criticism without blame – create strong emotional bonds with their teams (DDI, 2020).

The most resilient (and effective) leaders can demonstrate empathy and a high level of emotional intelligence. When your team feels understood, they feel more motivated and more confident to contribute cultivating stronger conversations, ideas and debate. As Mark Cuban shared in a recent interview: “How you treat your employees today will have more impact on your brand in future years than any amount of advertising, any amount of anything you literally could do” (Just Capital, 2020).

2. Resilient Leaders Are Adaptable

With COVID-19 infecting approximately 311,641 people in the UK alone, health officials suggested using hand sanitiser as the easiest way to prevent the spread of the disease. Consequently, these announcements led to panic buying (Euronews, 2020). In this type of situation, a resilient leader should be able to visualise this action as an opportunity – for example, dozens of spirit manufacturers across the UK started to produce hand sanitisers (i.e. BrewDog and Leith Gin). This is a classic example of an instant attitude adjustment – looking at what they can do as opposed to what they can’t (Telegraph, 2020).

When faced with change, resilient leaders can focus on the things within their business that they can still control. Whether impacted by new technologies, environmental challenges or even ethical dilemmas, the modern business landscape is always changing. A resilient leader needs to be flexible and adaptable to succeed. Is flexibility part of your leadership style?

3. Resilient Leaders Are Self-Aware and Coachable

According to Health Care Business Today, self-awareness and coachability are “The Two Most Important Leadership Traits” (Health Care Business Today, 2019). We think so, too. Resilient leaders are self-aware, confident, and most of all, able to recognise their strengths and overcome their weaknesses. Resilient leaders are open to feedback, ask for feedback and are always demonstrating a real effort to improve.

4. Resilient Leaders Take Calculated Risks

Successful leaders earned their success through taking calculated risks. When Amazon CEO Jeff Bezos launched AmazonFresh, he was scrutinised by others because he didn’t choose a successful delivery or supermarket executive to run the venture. Instead, Bezos selected a team that had previously run a web-based food delivery service in the ‘90s (which collapsed after two years in business). Why? Bezos knew that the team had learned from their failure, which made them the perfect choice to succeed with a new project.

Resilient leaders like Bezos take calculated risks while accepting that failure is a by-product of innovation and success. They learn to become comfortable with being uncomfortable, and flourish as the world changes around them.

5. Resilient Leaders Can Keep a Positive Mindset

The impact of COVID-19 is tough to manage. It is vital to have a positive mindset that can influence fellow professionals and raise team morale while maintaining business momentum.

Under the challenging circumstances posed by the COVID-19 crisis, a resilient leader needs to be enthusiastic, offer praise for success, and give credit when it’s due. American psychologist Carol Dweck has stated in her book “Mindset: The New Psychology of Success” that “a change of mindset must happen before other positive transformation can occur.”

Resiliency is needed when we encounter failure. As a resilient leader, you shouldn’t view failure as final, but as a necessary step to move further along your journey.

6. Resilient Leaders Develop Others

The most resilient leaders are concerned about the development of their teams. Developing others helps everyone to learn from their mistakes. We continue to find that leaders who want and accept honest feedback for themselves are more likely to give productive feedback and coaching to others.

7. Resilient Leaders Communicate Effectively

Effective communication helps teams understand changes, expectations and new directions. This understanding is the key to the success of any team. The most resilient and best leaders always communicate their intentions effectively to others and are willing to help their teams understand a new strategy or direction.

The COVID-19 pandemic is proving to be the ultimate test for business leadership. In times of crisis, only certain individuals can adapt and stand tall amongst the crowd. When it comes to leaders, being able to implement resilience tools and strategies will not only make you a better leader but help the company overall.

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, 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 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.

Filed under: Automotive, Aviation, Background Investigation, Compliance Solution, COVID-19 Insights, Due Diligence, Employee Background Check, Finance & Professional services Industry, Insurance, Investigative Solution, IT & Telecommunications, Leadership Insights, Oil, Gas & Energy, Pharmaceutical & Healthcare, Property, Resources, Third-Party Risk Management by admin
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Fraud Advisory Panel deep dives into the HBOS scandal

On 30 January 2017, following a four-month trial, former HBOS employees Scourfield and Mark Dobson involved in HBOS scandal were convicted of fraud and corruption involving a scheme that cost the bank £245m. Scourfield pleaded guilty to six counts including corruption, and Dobson was found guilty of counts including bribery, fraud and money laundering.

The HBOS (Halifax Bank of Scotland) fraud trial was highly unusual in that senior bankers were convicted of crimes, including fraud and hiding the proceeds of crime, in the boom of irresponsible lending ahead of the 2008 crash. As Lloyds reopens compensation claims over HBOS fraud and almost a decade after the HBOS fraud victims will hopefully be finally compensated. Loyds damning review found that victims were not all treated equally after fraudsters plundered £1bn to fund sex parties, superyachts and lavish holidays. The victims were the taxpayer, small business customers of the bank, and HBOS shareholders.

Fraud Advisory Panel

Fraud Advisory Panel discusses the HBOS scandal in an executive breakfast briefing. Which will take a deep dive into the case and take stock of the significant challenges faced by counter-fraud professionals to ensure fair access to justice for those affected by fraud and financial crime, especially SMEs. The agenda is comprised of the following:

• The impact of the HBOS fraud on its victims.
• The practical challenges faced by law enforcement and prosecutors in large corporate frauds.
• The work of the APPG on Fair Business Banking to support SME victims.
• The key lessons that can be learnt from HBOS and how these can be used to inform proactive action to support victims.

Guest speakers

• Nick Gould, Aria Grace Law
• Brian O’Neill QC, 2 Hare Court
• Anthony Stansfeld, Police Crime Commissioner, Thames Valley
• Kevin Hollinrake MP Thirsk and Malton, Co-chair,  All Party Parliamentary Group on Fair Business Banking

In the chair

• Rachel Sexton, director, Fraud Advisory Panel

Registration Expired!

Filed under: Anti-Bribery Anti-Corruption Solution, Compliance Solution, Due Diligence, Finance & Professional services Industry, ISO 37001, Resources by admin
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Background Screening Red flags: Numbers Don’t Lie

Want to know what types of red flags are most often found on résumés and employment applications? CRI® Group’s EmploySmart™ experts provided some statistics on their latest pre- and post-employment screening engagements, and they give insights into where companies are most vulnerable in the hiring process. background screening red flags

The operations team found that providing incorrect employment details is the most common red flag, as it was uncovered in about 4.5 per cent of background screenings. This is followed by providing incorrect education degree details as well as having adverse media (unfavorable news or online mentions), both at 2.33 per cent.

Most employers would probably say that when it comes to educational background, the only thing worse than providing incorrect degree information would be outright claiming a fake degree – which occurred in nearly 2 per cent of cases. Other red flags included having a criminal record (1.5 per cent), a civil litigation record (1.27 per cent), and providing a fake address (also 1.27 per cent). To round out the findings, the operations team found bankruptcy records, fake certificates and negative references among 0.85 per cent of those screened.

Deception Among Job Seekers is Real

Anytime someone intentionally provides false information in their résumé, they are committing résumé fraud – usually in the hopes of gaining a competitive edge in the hiring process. “There are even business services out there that will knowingly assist candidates with changing their résumé in this way, such as offering advice on how to hide employment gaps or how to add false information that looks realistic. Some will even provide fake transcripts and fake letters of recommendation” (HR Daily Advisor, 2018).

The same goes for fabrications on an application. It can occur anywhere in the process, and the candidate will likely continue to misrepresent themselves in the interview process to maintain their fraud. As mentioned above, helping candidates embellish or even fabricate credentials has become a business unto itself. “On the surface, these appear to be candidates taking desperate measures. But the candidates themselves may not be the only ones at fault. As recruitment has migrated online and become automated … opportunities for scammers have arisen. Professional recruiters, who get placement fees when they land candidates in jobs, have a clear incentive to game the system, Zhao says. They are ‘middlemen who can make significant profit by misrepresenting clients’” (Inc.com, 2019).

There is only one clear remedy and protection method to combat this type of fraud: thorough and comprehensive background checks. Most organisations, however, don’t have the time, resources, or the expertise to conduct the needed level of background screening on their own. This is where CRI® Group’s EmploySmart™ comes in. The robust pre-employment background screening service helps organizations worldwide avoid making uninformed and potentially harmful hiring decisions. As a leading provider of specialised local and international employment background screening, CRI® Group’s uses EmploySmart™ to provide risk mitigation and give business leaders confidence in their hiring process. EmploySmart™ includes a thorough menu of screening that fulfills your organization’s risk management needs. These checks include the following:

• Address verification – one of the red flags discussed above.
• Identity verification – what are they hiding? Falsifying one’s identity is a major red flag.
• Previous employment verification – candidates might claim false employment to beef up their résumés.
• Education & credential verification – screeners check degrees and education history.
• Local language media check – what is uncovered about the candidate in news reports?
• Credit verification & financial history – candidates who conceal financial problems can be a fraud risk (local privacy laws apply).
• Civil litigation record check – lawsuits can indicate red flags, background screening will uncover the details.
• Bankruptcy record check – when hiring someone for a financial or leadership position, it’s important to know if they have bankruptcy filings.
• International criminal record check – checking criminal records is essential for the safety of your employees and your business.

These are just a few of the essential checks that are part of the EmploySmart™ process. CRI® Group’s network spans the Americas, Europe, Africa, and Asia-Pacific for providing international risk management, background screening and due diligence solutions provider. Don’t tempt fate and invite red flags into your business by making risky hires. The proper pre-and post-employment screening will uncover those hidden things that a candidate might not want you to know. Contact CRI® today and learn more about how EmploySmart™ will help provide your organisation with that extra layer of protection you need. Get a FREE QUOTE now!

Filed under: Due Diligence, Employee Background Check, Pakistan, Islamabad, Pakistan, Karachi, Qatar, Doha, Resources, Shanghai, Singapore, Singapore, United Arab Emirates, Abu Dubai, United Arab Emirates, Dubai, United Kingdom, London, United States of America, New York by admin
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COVID19 increases identity theft cases: 7 steps to lessen your risk

What does an embezzler spend their money on? In the case of a New York man’s alleged fraud, just about everything, apparently. According to IDentutyUSA identity theft is on the rise during COVID-19 pandemic. Experts predict that one out of every four people in the United States will be a victim of this growing crime trend as more people work from home because of COVID-19.  While data from Experian and the National Hunter Fraud Prevention Service shows that fraud rate rises 33% during Covid-19 lockdown. As many as 1 in 10 people are now victims of identity fraud annually, with 21% of these individuals having been victimized multiple times.

When fraud investigators are asked what is the biggest fraud risk to the public at large, identity theft is usually at or near the top of the list. In today’s technologically connected world, criminals can get personal identifying information on countless unsuspecting individuals with just a few keystrokes.

At CRI® Group, our experts have investigated their fair share of identity theft cases, and while they can be very damaging, there is good news – many could have been avoided (and can be avoided in the future) with some proper due diligence. With that in mind, here are some important tips to help lessen the chances of becoming a victim of this insidious fraud:

1. (If/When out) Be careful using public wifi

When using the wifi at a coffee shop, Internet café or any other public place, don’t access bank account information or other sensitive information. Your data is vulnerable to those looking to steal it.

2. Update your passwords regularly

Change your passwords and vary them among different accounts. Password managers like LastPass can help you keep track of them.

3. Don’t become a victim of phishing

Be very skeptical of unsolicited emails or website pop-ups that pose as legitimate sites (like those pretending to be a bank, a delivery service, or the IRS, for example) and ask you for personal identifying information, or financial particulars. Don’t follow links or click on attachments for any of these unconfirmed emails or sites.

4. Consider going paperless

Identity thieves can still get your information the old-fashioned way: by intercepting your mail, going through your trash or finding other ways to get bills, invoices or receipts. Shred documents that you do have and don’t need, and opt to go paperless (requesting electronic documents only) as often as possible.

5. Check your bank and credit card statements

If someone is using your existing accounts, you’ll want to know as quickly as possible so that your bank can be alerted and take the proper measures.

6. Watch for fraud alerts

Most banks will now proactively alert their customers when they see suspicious transactions. If this is an optional service, opt-in – it’s better to be safe than sorry. Then you can confirm whether the transaction is actually fraudulent or not.

7. Monitor your credit history

Credit reports can help you know if any new lines of credit have been fraudulently opened in your name. Services include Experian, Equifax, TransUnion, and Callcredit, and in the U.S., you are able to receive your credit report once a year at no charge.

Identity theft is a serious problem, and it’s not going away anytime soon. But it’s good to know that there are some common-sense precautions we can all take to lessen our chances of having our information stolen.

If you do become the victim of ID theft, or believe your information may have been compromised, there are resources to help you deal with the crisis.

In the U.S., you can visit IdentityTheft.gov. This official U.S. government website invites users to report if they have been victims of identity theft. Based on the information they provide, victims are assisted with a personalized recovery plan, and can receive step-by-step instructions on how to proceed and navigate the sometimes murky and complicated world of untangling identity theft.

In the UK, ActionFraud National Fraud & Cyber Crime Reporting Centre provides tips, advice and a reporting system as your first point of contact if you have been a victim of fraud.

Many other countries and jurisdictions provide similar services. If you are a victim of identity theft, rest assured you are not alone. It is one of the most common frauds around the world, but with a little preventative action, we can lessen its incidence and its impact.

Identity theft is a persistent problem in business, but it doesn’t have to be a crisis at your company. By using a common sense approach and some key prevention strategies, you can help ensure that your employees know the rules and are less likely to be victims. For assistance in developing and implementing a fraud prevention strategy, contact us today or get a FREE QUOTE now!

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

Ethics & Compliance Hotline is an anonymous reporting mechanism that facilitates reporting of possible illegal, unethical, or improper conduct when the normal channels of communication have proven ineffective, or are impractical under the circumstances. At CRI Group, we are committed to having an open dialogue on ethical dilemmas regardless.

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

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 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 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 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 organizations. 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 organizations. 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. CRI® Group maintains offices in UAE, Pakistan, Qatar, Singapore, Malaysia, Brazil, China, the USA, and the United Kingdom.

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

Filed under: COVID-19 Insights, Due Diligence, Investigative Solution, Resources by admin
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Challenges for Background Screening Service APAC Providers

According to Investor’s Globe – a unified hub for information and ideas relating to investment – Asia Pacific (APAC) is the fastest growing economic region of the world and investors’ top choice. Further, in a list of top five economies until 2023 published by FocusEconomics, three including China, Japan and India belong to the APAC region. It is also a fact that the workforce from APAC is employed around the globe and has a cheap labour market. In addition, a 2017 Asia Pacific Occupier Survey by U.S. real estate group CBRE found that multinational companies showed a strong desire to expand business in APAC emerging markets including China, India, Hong Kong, Taiwan and South Korea. Further, according to the Employment Screening Services Market Research Report of 2020, Asia Pacific is expected to be the fastest-growing market from 2019-2025 for employment screening services. Aren’t these attractive indicators for background screening service providers to explore the APAC market? Yes, they are, as growing economies and multinational companies in the region mean more business and job vacancies, thus creating an opportunity for background screening service providers to­ enter the market. Moreover, findings from Transparency International show that the APAC region scored an average of 45 on the Corruption Perceptions Index (CPI) of 2019, thus signalling that APAC is not only an attractive market, but the need for background screening services as a solution to reduce corruption also exists.

However, despite all of the attractiveness and existence of opportunity created by this need, penetrating the APAC market is not easy for background screening service providers. The market is huge, comprising of 40-plus countries with a number of organisations in each. Moreover, each country has its own laws, economic conditions, culture, background screening needs and accessible resources, and from a business perspective, familiarity with market is the utmost requirement and the basis upon which companies choose their target customers, formulate strategies, acquire sources and design services. Therefore, the challenge begins with understanding and analysing the huge APAC market.

Another challenge is to create awareness in the APAC region regarding the need for background screening services because need exists, but awareness of the need and its solution lacks. It has been observed that the background screening concept is less familiar and not practised in small organisations and underdeveloped economies of the APAC region. Therefore, making business leaders in the region realise the need and importance of background screening is a crucial and difficult task considering the APAC region’s market size and variation in languages, economies, laws, and companies. Therefore, background screening service providers need to come up with promotional campaigns in the APAC region that highlight increasing corruption figures, and forms of corruption, and explain the need, importance, and benefits of background screening services in overcoming corruption. In this regard, The Professional Background Screening Association (PBSA) and its APAC council is an appropriate forum for spreading awareness.

By understanding the market of the APAC region and running awareness campaigns, background screening service providers can capture the market; but to survive, create and maintain a positive image they are required to offer quality background screening services, which largely depend on retrieving and verifying information from sources. However, these sources are beyond the control of the background screening industry and have their own data maintenance style, data checking methodologies, languages and restrictions on the provision of date that not only vary from country to country, but even from district to district in the same country. It is easy to retrieve or verify information where the record is computerized and well-maintained. However, is time-consuming in cases where a record is held manually and is not well organized.

The countries’ laws also impact the provision of background screening services in the region by restricting the collection, processing, accessing, and sharing of data. The developed countries in the APAC region have laws related to personal data protection like Australia, Japan, Hong Kong and South Korea, etc. However, there are many countries where personal data protection laws are not yet specified or are under development.

The above are just some broadly categorized challenges faced by nearly all background screening service providers in APAC region. However, there are others, either short-term or long-term, including the one we are facing nowadays in form of COVID-19 that have negatively impacted the economic activities around the globe, including the APAC region, and background screening industry is no exception. However, the scenario is yet to be analyzed – and no matter what the outcome, the importance of the APAC region and the opportunity for background screening services cannot be denied.

Author

Sidra Aziz, Senior Investigations Officer

Source list:

1. https://www.investorsglobe.com/apac/
2. https://www.focus-economics.com/blog/the-largest-economies-in-the-world
3. https://www.theglobaltreasurer.com/2017/04/24/multinationals-show-appetite-for-asia-pacific-expansion 
4. https://www.marketresearchfuture.com/reports/employment-screening-services-market-6024
5. https://www.transparency.org/en/news/cpi-2019-asia-pacific#

Filed under: Background Investigation, Employee Background Check, Resources by admin
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