An Open End-of-Year Appreciation Letter
An Open End-of-Year Appreciation Letter
As the end of the year draws near, we would like to take this opportunity to thank all of you for a fantastic year. The success of the CRI™ Group is based on the relationships we have built over the years, and we really wouldn’t be where we are without you. We are grateful for the opportunity to work with and for you.
Our passion for safeguarding the corporate world by detecting and exposing those elements that can cause irreparable harm to a business and help markets stand up against the outside forces that, through corruption, collusion, coercion and fraud, can cause financial, organisational, reputational and legal harm to our global clients remains strong. Over this past year, we have added staff, contractors and new clients to help us on our mission.
At CRI®, we are committed to spreading knowledge about the negative impact of fraud on global businesses and promoting transparent business relations across the world. For the past year, we worked extensively to deliver whitepapers, manuals and other insights to help organisations overcome bribery and corruption challenges and manage risks more effectively. 2021 was a year that brought many industry collaborations – including events hosted with several experts from leading organisations – and educated over 600 people with:
- Live webinar on “Third-party Due Diligence & Oversight” with Malaysian International Chamber of Commerce & Industry (MICCI) to celebrate International Anti-Corruption Day.
- Live Webinar on “Compliance & Adequate Due Diligence for Third-Party Risk Management – An Essential Part of a Corporate Compliance Program” hosted by us and Dubai Quality Group (DQG) with Samia El Kadiri, a Governance & Compliance Consultant for Hawkamah Institute for Corporate Governance (DIFC) and renowned author as guest speaker
- Live debate/discussion on “Reporting bribery and misconduct in the workplace. Know-how you can be the whistleblower!– building a better whistleblowing mechanism by adopting ISO 37002:2021″ with Tuan Haji Mohd Nur Lokman Samingan, MACC Senior Assistant Commissioner & Head Private Sector Branch Community Education Division and Dr KM Loi, President – Association of ABMS Practitioners Malaysia.
- Live webinar on “Bribery Pitfalls Most Organisations Often Commit. The Importance of Anti-Bribery Management Systems (ABMS)” with Dato” Sri Akhbar Haji Satar, CFE, AIBM, Founder, President Association of Certified Fraud Examiners (Malaysia).
- Live debate on “Bribery discovered: What to do in the next 48 hours? with Robert Youill, Executive Director from Key Risk Consulting Asia as a guest speaker; and
- Live webinar on “Protecting your company from the global corruption pandemic“, where we explored case studies, discussed and compared local, regional and global corporate compliance standards and legislations.
2021 has been filled with a multitude of victories, and 2022 is set to be even better, as Zafar I. Anjum, our Group Chief Executive Officer, comments on here:
“2021 saw an expansion in our service capabilities with our 3PRM™- Certified solution, Anti-Money Laundering Advisory services and BS 7858:2019 Screening investigations solutions (CRI® is the only BS 7858 certified background screening services provider in the UAE and across the Middle East); in addition to announcing the opening of our new offices in Turkey (Corporate Research and Investigations Danışmanlık Hizmetleri Limited Şirketi).”
“Our sales and marketing teams have been busy attending exhibitions. We’ve also seen a dramatic increase in our online marketing presence and subsequent engagement with our customers. Next year we hope to build on the success of 2021, and to that end, further expansion plans are already on the drawing board.”
“It just leaves me to thank all our customers for their business and loyalty, but perhaps most importantly all of the hard-working and dedicated employees in the UK, UAE, Qatar, Singapore, Malaysia, Pakistan and USA, without whom none of what you read in the subsequent pages would be possible. Thank you, and here’s to a successful 2022.”
On behalf of CRI Group™, we wish you a very Merry Christmas and a wonderful holiday season! Thank you for your continued support and partnership. We look forward to working with you in the years to come.
Happy holidays!
As we move into 2022 and seek new opportunities, know that CRI™ is here, as your partner, to help you by establishing the legal compliance, financial viability, and integrity levels of outside partners, suppliers, employees and customers seeking to affiliate with your business. We are working closely with our internal teams to ensure your 2022 business goals are met, and we are continuing to support you in the manner you are accustomed to and fully deserve.
2021 has been filled with a multitude of victories. As 2021 draws to a close, I want to take the opportunity to look back on a year that turned out much differently than anyone could have imagined. Over this past year, we have added staff, new clients and new services, 2021 saw an expansion in our service capabilities with our 3PRM™- Certified solution, Anti-Money Laundering Advisory services and BS 7858:2019 Screening investigations solutions (CRI™ is the only BS 7858 certified background screening services provider in the UAE and across the Middle East); in addition to announcing the opening of our new offices in Turkey (Corporate Research and Investigations Danışmanlık Hizmetleri Limited Şirketi). For more, we have released our end of year open letter talking about our projects and accomplishments across all regions.
While it was challenging in many ways, it also showed how strong we are as a company – even in the most challenging times. And the success of the CRI™ is based on the relationships we have built over the years, and we really wouldn’t be where we are without you. We are grateful for the opportunity to work with and for you, and this past year has been a pleasure.
As the end of the year approaches, we know there will be many challenges ahead. But we are so excited we all that 2022 has in store for us – enthusiasm and anticipation are building around new opportunities in all our locations worldwide. Stay tuned for more details in the new year.
Both on behalf of our entire CRI Group™, as well as personally, I hope that when you’re celebrating the holidays with friends and family, you look back on the year with the same sense of accomplishment that we all should feel and thank you for your continued trust in us.
Best,
Zafar I. Anjum
MSc, MS, LLM, CFE, CII, CIS, Int. Dip. (Fin. Crime), MICA, MIPI, MAB
Group Chief Executive Officer
(Certified Fraud Examiner)
(Certified International Investigator)
(MSc Counter Fraud and Counter Corruption Studies, University of Portsmouth UK)
(Master of Fraud and Financial Crime – CSU Australia)
LL.M Legal Practice (Intellectual Property)
t: +44 7588 454959 | e: zanjum@crigroup.com | LinkedIn
Financial Crime Policies and Procedures: examples of Good and Poor Practice
The principal catalyst of economic crime (also known as financial crime) is monetary gain. However, economic crime has a devasting effect on individuals and communities. When associated with organised crime and terrorist financing, it threatens laws, democratic processes, and fundamental human freedoms, impoverishing states and distorting free trade and competition.
Not a victimless crime
Because of the well-publicised financial scandals that marked the aftermath of the tech bubble in 2002 and the housing bubble in 2008, most recently, the 2018 Patisserie Valerie scandal, which was once considered a merely poor business practice (i.e. widespread reckless investment) is now considered criminal. We saw how the vast losses associated with these high-level financial fraud scandals undermined social-security systems and destabilised economic systems. Today there is a growing consensus on the need to improve the global framework for fighting financial crime and regain the public’s trust. And financial crime prevention policies and procedures are critical.
Walk the walk with a robust code of conduct
The failure of self-regulation by most companies involved in the scandals only highlighted how important organisations have prevention policies and procedures in place. These policies fall under the “Ethical Code of Conduct” A code of conduct sets the standards for how an organisation ought to behave and guides its workforce in the decision-making. A robust Code of Conduct and other internal rules and guidelines serve as the foundation for a successful free of fraud organisation. Read more on “Ethical code of conduct and what should be covered?”
By having a robust code of conduct, organisations can demonstrate their commitment to complying with all applicable laws and regulations. With a well-established set of global policies, the organisation can achieve robust and consistent compliance standards. Rather than assume that ethical rules “go without saying,” every organisation should spell out what they expect of their employees when it comes to ethical behaviour. At CRI Group™, we counsel business leaders that every organisation should have a written, carefully considered ethical code of conduct as part of their fraud prevention strategy. CRI Group’s Certification program through the ABAC™ Center of Excellence includes developing an ethical code of conduct as part of clients’ training and development phase.
CONTACT CRI™ FOR MORE INFORMATION
Successful Organisations Adopt a Risk-Based Approach when Doing Business
A company must have up-to-date policies and procedures appropriate to its business. These policies should provide a uniform set of risk management principles and mandatory standards. These should be readily accessible, effective and understood by all relevant workforce.
Self-assessment questions:
- How often are your organisation’s policies and procedures reviewed, and at what level of seniority?
- How does it mitigate the financial crime risks it identifies?
- What steps does the organisation take to ensure that relevant policies and procedures reflect new risks or external events? How quickly are any necessary changes made?
- What steps does the organisation take to ensure that staff understand its policies and procedures?
- How do you ensure that policies and procedures are disseminated and applied throughout the business?
Examples of good practice
- There is clear documentation of the company’s approach to complying with its legal and regulatory requirements concerning financial crime;
- Policies and procedures are regularly reviewed and updated; and
- Internal audit or another independent party monitors the effectiveness of policies, procedures, systems and controls.
Examples of poor practice
- No written policies and procedures;
- Does not tailor externally produced policies and procedures to suit its business;
- Takes inadequate steps to communicate policies and procedures to relevant staff;
- Fails to review policies and procedures in light of events;
- Fails to check whether policies and practices are applied consistently and effectively; and
- Has not considered whether its policies and practices are consistent with its obligations under legislation that forbids discrimination.
An Investigative Study Into Causal Factors of the Perpetration of Transnational Financial Crimes
As the global impact of transnational financial crime increases to unprecedented levels, attention has turned to the need to fully understand the motivations that lead to the perpetration of such crimes. CRI® Group has recently published an ebook that provides insightful looks into today’s issues at the forefront of fraud and corruption. They range from deep dives into the U.S., U.K. and other anti-fraud and anti-corruption laws worldwide to close examinations of actual fraud cases that hold lessons for all of us. This ebook provides an in-depth study of transnational financial crimes and the national laws and regulations. Laws in the U.S. and the U.K., in particular, are compared and examined in terms of effectiveness in preventing financial crimes. The comparative study focuses on corporate fraud. “The Catalysts for Economic Crime” pursues the question of how weaknesses in national laws can be considered “a core causal factor in the perpetration of transnational financial crimes.” We invite you to download this ebook and increase your knowledge of fraud, corruption, proper compliance, risk assessments, due diligence, etc.
Download your FREE “The Catalysts for Economic Crime” ebook here!
At CRI® Group, we are always ready to assist you to effectively manage your organisation in an efficient and risk-free manner that best suits your needs. Our experience base, skilled workforce, technical resources, networking capabilities, internal flexibility and global offices maximise our solution efficacy. Explore our broad range of risk management solutions for your business.
CRI Group’s investigators and Certified Fraud Examiners understand fraud patterns and are trained to recognise the elements of fraud characteristics and where they might come into play at any organisation. Through this knowledge, we can help you uncover the trail of fraud and help bring about a quick and successful resolution.
Having global coverage, CRI™ works directly with the key personnel to lead and conduct fraud investigations, including, if needed, your internal board of directors, audit committee, ethics and compliance officers, general and in-house counsel, corporate security, human resources, and C-level executives.
VIEW OUR RISK MANAGEMENT SOLUTIONS BROCHURE
CRI™ Celebrates 2021 International Anti-Corruption Day
CRI™ celebrates 2021 International Anti-Corruption Day: Organisations are urged to unite on December 9th for International Anti-Corruption Day
Corruption is the single greatest obstacle to economic and social development around the world. According to the World Bank, every year $1 trillion is paid in bribes, while an estimated $2.6 trillion are stolen annually through corruption – a sum equivalent to more than 5 percent of the global Gross Domestic Product (World Economic Forum).
To help combat this growing problem, Corporate Research and Investigations Limited “CRI Group™” is spreading awareness and encouraging organisations to support the United Nation’s International Anti-Corruption Day, 9 December 2021. CRI Group™ is a global leader in corporate investigations and risk management that serves clients in Europe, Asia Pacific, South Asia, the Middle East, North Africa and North America.
Here is more bad news about corruption:
- Worldwide corporate corruption continues to disrupt socioeconomic progress in developing nations.
- Corruption weakens governments, fuels organised crime, stifles economic growth and discourages development.
- The cost of corruption can have a devastating effect on any business and its stakeholders, from the damaged corporate image, devalued stock, negative public perception, costly legal challenges and even incarceration of corporate directors.
- Organisations are finding it increasingly difficult to navigate the complex web of multi-jurisdictional laws and regulations related to anti-bribery and anti-corruption practices.
CRI Group’s CEO, Zafar Anjum, said that CRI Group™ offers solutions for building global compliance frameworks that safeguard the world’s leading organisations. For example, CRI Group’s Anti-Bribery Anti-Corruption Centre of Excellence provides consulting services to organisations seeking to validate or expand their existing compliance frameworks to maintain a competitive edge in the world marketplace.
Anjum noted that CRI Group™ also offers independent ISO 37001:2016 Anti-Bribery Management System certification to ensure that organisation is in compliance with this newly established standard, which is recognised and practised in more than 160 countries worldwide.
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.
Contact CRI Group™ to learn more about preventing and detecting corruption.
Who is CRI Group™?
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.
CRI™ Opens Office in Turkey
CRI Group™ Opens Office in Turkey
Corporate Research and Investigations Limited (CRI Group™), a global leader in Risk Management and Compliance solutions, announced today the opening of its offices in Turkey (Corporate Research and Investigations Danışmanlık Hizmetleri Limited Şirketi). CRI Group™ has been safeguarding businesses from fraud, bribery and corruption since 1990. CRI™ protects businesses by establishing the legal compliance, financial viability, and integrity levels of outside partners, suppliers and customers seeking to affiliate with your business.
Based in London, CRI Group™ works with companies across the Americas, Europe, Africa, 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 providers. We have the largest proprietary network of background screening analysts and investigators across the Middle East and Asia. Our global presence ensures that no matter how international your operations are, we have the network needed to provide you with all you need, wherever you happen to be. Our global team can support your organisation anywhere in the world.
Zafar Anjum, Group CEO at CRI™, said: “The ability to effectively pre-empt fraud and corruption by mitigating internal and external risks to prevent these issues can save corporations from immense potential losses and reputation damage. Our services such as DueDiligence360™, 3PRM™ and EmploySmart™ can significantly help organisations deal with bribery and corruption, third-party risk management, noncompliance with the regional and international regulatory framework and malpractice. CRI Group’s expertise will enhance the diverse pool of business support services available within Turkey.”
“Today’s business climate dictates an increasing demand of international business organisations for proactive measures designed to reduce bribery and corruption, particularly in the financial, government and multi-national business sectors,” Anjum further said. “CRI Group’s worldwide network of multi-disciplined subject specialists and analysts help organisations prevent and deter bribery and corruption, third-party malfeasance, threats and corruption risks while ensuring our clients conform to the local and international regulatory framework. The establishment of our offices in Turkey gives us the platform to expand further and enhance the level of support we offer to the international business community.”
CRI Group™ also holds BS 102000:2013 and BS 7858:2012 Certifications, is an HRO certified provider and partner with Oracle, and it is a licensed and incorporated entity of the Dubai International Financial Center (DIFC) and Qatar Financial Center (QFC).
Turkey Office Details:
Emar Residence Blok. No:82E İç Kapı No:219 Üsküdar-İstanbul, 34662 Istanbul/İstanbul, Türkiye
t: +90 544 100 03 69
e: Istanbul@crigroup.com
Global integrity DueDiligence360™ Investigations
CRI™ investigators employ a proven, multi-faceted research approach that involves a global array of databases, courts and public record searches, local contacts, industry and media resources, and in-depth web-based research. Our resources include:
- International business verification
- Individual business interest search
- Personal profile on individual subjects
- Company profile on corporate entities
- Historical ownership analysis
- Identification of subsidiaries & connected parties
- Global/national criminality & regulatory records checks
- Politically Exposed Person database
- International digital media research
- Company background analysis
- Industry reputational assessment
- FCPA, UK Anti-Bribery & corruption risk databases
- Global terrorism checks
- Global financial regulatory authorities check
- Money laundering risk database
- Financial reports
- Asset tracing
- Country-specific databases that include litigation checks, law enforcement agencies & capital market regulators.
VIEW DUEDILIGENCE360™ BROCHURE
Ensure a safe work environment for all with EmploySmart™
EmploySmart™ can be tailored into specific screening packages to meet the requirements of each specific position within your company. We are a leading worldwide provider, specialising in local and international employee background checks, including pre-employment and post-employment background checks.
CRI® Employee Background Checks are an investigation into a person’s character – inside and outside their professional lives. Some checks you already carry out in-house, such as candidate’s qualifications (documents provided), work history (with a reference check), right to work in the country and even a quick social media presence scan. However, we provide a full in-depth background screening service for candidates and employees at all levels – from senior executives through to shop-floor employees including BS7858 vetting.
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Our EmploySmart™ is a robust pre-employment background screening service certified for BS7858.
Third-Party Risk Management solution (TPRM), also known as 3PRM™
The solution includes establishing the legal compliance, financial viability, and integrity levels of outside partners, suppliers, customers, and other sources worldwide seeking potential affiliations with your organisation.
If your organisation requires any of the following within your compliance checklist, then you must consider a third-party risk management solution:
- Have a lack of visibility or understanding danger of the risks posed by your relationships with many types of third parties?
- Want greater visibility into third-party performance and risks?
- Need to improve operational costs, process, efficiencies, and organisational agility associated with your third-party relationships?
- Need to gain greater control over the related risks?
- Want to be confident that third parties are compliant with your business’ policies, as well as their own based on government regulations and industry requirements?
Working with us you get…
- With expertise in domestic and international screening, one of the largest, most experienced and best-trained integrity due diligence teams globally.
- The ability to manage multiple background checks online
- Quick turnaround times
- High-quality searches, backed by numerous checks and quality controls
- We have a flat structure which means that you will have direct access to senior members of staff throughout the due diligence process.
- Our multi-lingual teams have conducted assignments on thousands of subjects in over 80 countries, and we’re committed to maintaining and constantly evolving our global network.
- Our solutions are easily customisable, flexible and we will tailor our scope to address your concerns and risk areas, saving you time and money.
- Our team of more than 50 full-time analysts is spread across Europe, the Middle East, Asia, North and South America and fully equipped with the local knowledge to serve your needs globally.
- Our extensive solutions include due diligence, employee pre and post background screening, business intelligence and compliance, facilitating any decision-making across your business no matter what area or department.
Our Mission and Vision
- CRI™ mission is to safeguard the corporate world by detecting and exposing those elements that can cause irreparable harm to a business
- Stand up against the outside forces that, through corruption, collusion, coercion and fraud, can cause financial, organisational, reputational and legal harm to our global clients
- Stand out as the preeminent provider of specialised investigative services that enable our clients to exhibit the highest standards of business integrity, ethics and behaviour
Our global presence ensures that no matter how international your operations are we have the network needed to provide you with all you need, wherever you happen to be. We take great care to ensure that our experts are the best at what they do. We pride ourselves on having the most stringent recruitment standards in the industry. Our experience, skilled workforce, technical resources, networking capabilities, internal flexibility and global offices maximise our solution efficacy. Added to that is the fact that our extensive experience gives us the breadth and depth of knowledge needed to make sure that your organisation is protected at all turns, at every corner, and through every deal.
Speak up – Report Any Illegal, Unethical, or Improper Behaviour
If you find yourself in an ethical dilemma or suspect inappropriate or illegal conduct, and you feel uncomfortable reporting through regular communication channels or wish to raise the issue anonymously, use CRI Group’s Compliance Hotline. The Compliance Hotline is a secure and confidential reporting channel managed by an independent provider. When reporting a concern in good faith, you will be protected by CRI Group’s Non-Retaliation Policy.
Towards a Fraud-free future: CRI™ Celebrates 2021 Fraud Week
Towards a Fraud-free Future
CRI Group™ is proud to be celebrating International Fraud awareness week 2021. Alternatively known as Fraud Week for short, this day proves to be a critical effort to put a spotlight on fraud, help educate people about its perils and build a fraud-free future. CRI Group™ regularly partakes in this week and are happy to once again be a proud Official Supporter of this global movement. Fraud Week was created to reduce the impact of fraud and corruption by promoting anti-fraud awareness and education.
CRI Group™ founder and CEO Zafar Anjum says “Fraud Week reminds us that awareness is any organisation’s first line of defence against fraud and corruption, as properly trained employees will have a better opportunity to recognise the red flags of fraud and a better understanding of their organisation’s zero-tolerance policy toward such behaviour. Fraud is everybody’s problem, and it cannot be prevented and detected if employees aren’t provided with the information, they need to combat it. Providing a robust anti-fraud training program increases your company’s protection from risks of fraud and unethical behaviour. An ounce of prevention is worth more than a pound of cure.”
The solution to mitigating fraud is not always as visible as one would hope which is why CRI Group™ is proud to announce that we, alongside our sister brand, Anti-Bribery Anti-Corruption (ABAC™) Center of Excellence Group, will be hosting a free webinar with Malaysian International Chamber of Commerce & Industry (MICCI) on 9 December 2021 as an effort to raise awareness for Fraud. Our intention is to be able to provide resources on corporate compliance to organisations around the globe that will aid them in expansion and an ethical working environment. We want to open up an in-depth discussion on the third-party due diligence frameworks and explore its best practices as a means to help provide insights and ideas for your organisations’ compliance programme. Take advantage of this free webinar. Join us and save your seat now!
Our Mission and Vision
- CRI™ mission is to safeguard the corporate world by detecting and exposing those elements that can cause irreparable harm to a business
- Stand up against the outside forces that, through corruption, collusion, coercion and fraud, can cause financial, organisational, reputational and legal harm to our global clients
- Stand out as the preeminent provider of specialised investigative services that enable our clients to exhibit the highest standards of business integrity, ethics and behaviour
For CRI Group™, though, helping organisations prevent and detect fraud is a year-round commitment. That’s why Fraud Week is a great time to reflect on CRI Group’s recent efforts in the fight against fraud and to also look ahead to activities on the near horizon. As the world slowly recovers from the devastating impact of the pandemic, CRI Group™ is looking forward to conversing with our clientele face to face once again. So far, our confirmed events include but are not limited to:
- The U.S. Commercial Service’s Trade Winds Middle East and Africa Trade Mission and Business Forum | Dubai, UAE | March 6-8, 2022
Organised by the U.S. Commercial Service, Trade Winds will feature meetings with U.S. commercial diplomats from over 20 countries in the Middle East, North Africa and Sub-Saharan Africa, exciting conference programming and plenty of networking. Trade Winds is a multifaceted program designed to help organisations achieve growth and exposure in specific markets or regions around the world.
- 2022 PBSA Mid-Term Conference | Virginia, USA | April 10-12, 2022
The PBSA Mid-Year Legislative & Regulatory Conference in April between 10-12th is convened each year in the spring with a large emphasis on law, legislature, training, and compliance associated topics in correlation to the background screening industry. This specific conference offers insight and support for everyone across a range of industries at all levels in the operative hierarchy.
Given that borders across the globe will slowly start reopening themselves to conferences and forums, you can expect to see a lot more confirmations on our end in the near future. In the meantime, it is an honour for us to be a part of such activities that extend to and facilitate so many organisations across the globe; more information on the event will be released soon so keep your eye out for our updates! We hope to see you there.
CRI Group™ is here to help and create a fraud-free future. Contact us today to learn more about our ABAC™ Training and Certification opportunities, our EmploySmart background checking process, our investigative services and other offerings.
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 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.
Do You Know What are the Measures to Implement to Prevent Fraud?
Measures to Fight Fraud: The Implementation
Measures to fight fraud. What are measures every organization must implement to prevent fraud? Reporting fraud is crucial for any organization to do as it aids in not only safeguarding your organization from the outside but also in protecting the economy. When the event of fraud happens on a large scale, it can set back a nation’s economy substantially. Consumers which consist of the public as well as any trade suppliers will not purchase goods or services if there is any possibility of them developing into victims – an issue that has plagued third-world countries in recent years but is not exclusive to just them.
Reporting fraud protects your organizations internal and external team, and organizational leaders must come to realize that they have a responsibility to look out for their personnel whilst also promoting a workplace that encourages the employees to look out for one another. It is therefore vital that all suspicious activity must be brought to light. When offenders are allowed to operate without restraint, the rate of fraudulent conduct tends to spread with many victims clueless to the notion that somebody is taking from them.
The question of mandating the reporting of fraud has always been of prevalence and the ACFE released a report in which it was found that “the main reasons given in support of mandatory fraud reporting included: the prevalence and damaging nature of fraud; the opportunity to gain a better overall understanding of fraud; the need to escalate tackling fraud as an item on the government’s agenda; the value in creating more and better intelligence for policing; and encouraging organisations to take more responsibility for managing fraud.”
Regardless of where you stand on the mandating of reporting fraud, it is important to know what you can do as an organisation to safeguard yourself from the ramifications. We leave you with food for thought on what preventive measures you should implement to avert fraud.
The Fraud Triangle Theory
Renowned criminologist Donald R Cressey developed a theory that implicated three aspects that trigger fraud, these include:
- Opportunity
- Rationalization
- Pressure
Trusted persons become trust violators when they conceive of themselves as having a financial problem that is non-shareable, are aware this problem can be secretly resolved by violation of the position of financial trust, and are able to apply to their own conduct in that situation verbalizations which enable them to adjust their conceptions of themselves as trusted persons with their conceptions of themselves as users of the entrusted funds or property (Donald R. Cressey, Other People’s Money (Montclair: Patterson Smith, 1973) p. 30
When offenders are allowed to commit fraud, they will do so promptly. An absence of core regulations or reporting structure/oversight increases the chances of fraud as the offenders are aware that they are unlikely to face any repercussions.
The offender then goes on to rationalize the repeated dishonesty, which, feasibly over a few years, rises slowly and becomes a prerogative as they feel entitled to the easily obtained profits they received from the deceptive act.
They may feel that the gains are easier to obtain rather than confronting the vast pressure, be it corporate reasons such as meeting organization targets or personal pressures, such as addiction or financial crises which is what prompts them to carry out their fraudulent conducts over a prolonged time. Consequently, it is incredibly important to implement preventative measures to safeguard your organization from fraud.
What preventative measures should I implement to fight fraud?
At CRI Group™, we offer a wide array of services catered to several industries to help implement anti-fraud procedures. Fraud can be found in many aspects of an organizational core and peripheral structure, so it is, therefore, important to tailor it to each element.
To detect employee fraud, for example, it is advised that you pursue the proficiency of a skilled employee fraud accountant as early as possible. Employee fraud accountant aids in inspecting an employee’s professional conduct. This can be done by obtaining and by reviewing your organization’s bank statements and financial documents and advising you whether an employee is committing fraud and to what extent; the report will also give you the evidence you need to take the necessary action against your employee and act as a preventive to others. However, this is vastly different from conducting a pre-employment screening check.
What are the makes of an ideal candidate? The experience, qualifications, and academic accreditation, right? But how do you verify everything that they have presented to you? Employee background checks and necessary screenings are crucial to avoid a bad hire that can impact HR, your business, or even your brand –the financing of sufficient screening can save you time, money, and despair.
Know Your Workforce
Employee Background Checks investigate a potential candidate’s character in and out of their professional lives. These checks as inclusive of a candidate’s qualifications (documents provided), work history (with a reference check), right to work in the country and even a quick social media presence scan. Conducting employee background checks can diminish the probability of hiring a candidate who could cause irreversible damage to your organization. Organizations can spend years and a substantial amount of money to brand their products and services; one bad hire is all it takes to cause a loss of capital and reputation to the extent that may cause an organization to break.
EmploySmart™ is CRI Group’s exclusive employee background checks service providing a comprehensive check of all the necessary data required for pre-employment. EmploySmart™ is a robust pre-employment background screening service certified for BS7858 and is used in a bid to avert inattentive hiring charges. CRI™ helps organizations create a safe work environment for all and our EmploySmart™ system can be customized into special screening packages to meet the requirements of each specific position within your organization. Why not check out our brochure?
Why not contact one of our specialists for a free 30-minute consultation? Our experts range from different fields and industries hence allowing us to provide your organisation with a truly bespoke service. Prevent fraud in your workplace today – it all starts with you.
Implement a Third-Party Risk Management Process
Apart from the internal aspects of fraud, it is equally as important to remember that fraud can happen with any external connections your organization may have including suppliers, consumers, investors and so on. It is vital to ensure that you are conducting third-party risk management to avoid such an instance. CRI Group’s private but professionally developed 3PRM™ facilities aid organizations in proactively abating risks from third-party associations, safeguarding your organization from legal responsibility, brand damage, and any other impairment to the organization. Regardless of where your organization is in terms of the stages of development, our 3PRM™ solution is the perfect solution for eradicating exterior risks associated with your progress. The 3PRM™ restructures the third-party risk management process through scalability and efficiencies – from third-party risk identification to assessment.
Fraud can be an incredibly formidable task and with more legislation looking to be implemented regarding reporting fraud, you must keep yourself aware of it. Overall, the process of preventing fraud can be an extensive one, but one whose benefits outweigh the onerous course. Protect your organization from liability, business interruption and brand damage by partnering with the CRI Group. Our 3PRM solution address various specific areas, including:
- Third-Party Integrity Due Diligence & Screening: ensures global compliance, provides adequate monitoring & protection against potential litigation;
- 3PRM Enhanced Background Checks: uncovers derogatory information within the public & private record resources through risk-based background checks, including investigative research into suppliers & individuals, ultimate-beneficial owners;
- ISO 37001 Anti-Bribery Management System: CRI Group’s independent and accredited Certification Body can examine your Anti-Bribery & Anti-Corruption procedures & issue an accredited Certification; and
- ISO 37301 Compliance Management System: CRI Group’s independent certification body helps companies worldwide to increase & measure their efforts against regulatory compliance risks.
If you still have any questions surrounding fraud prevention, why not contact CRI™? Our experts have years of experience and have been trained to provide your business with bespoke advice that fits your organizations’ needs.
Don’t hesitate to prevent fraud in your workplace 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.
2021 Fraud Week: Prevention is Key
The 2021 Fraud Week: Prevention is Key!
Every year, for one week in November, organisations around the world embrace a movement aimed to minimise and prevent fraud and corruption. International Fraud Awareness Week (“Fraud Week,” for short) is November 14-20, 2021, and CRI® Group has been an enthusiastic Official Supporter since the very beginning of this important campaign.
According to the ACFE, the world’s largest anti-fraud association and founder of Fraud Week, organisations worldwide lose an estimated 5 per cent of their annual revenues to fraud. To make things worse: “A single instance of fraud can be devastating: the median loss per fraud case was $145,000, and more than a fifth of the cases involved losses of at least $1 million.”
But there is good news. For Fraud Week, the ACFE offers some basic steps any organisation can take immediately to lessen their vulnerability to fraud:
- Be Proactive. Adopt a code of ethics for management and employees. Evaluate your internal controls for effectiveness and identify areas of the business that are vulnerable to fraud. Find out more about what an Ethical code of conduct is and what should it cover?
- Establish Hiring Procedures. When hiring staff, conduct thorough background investigations. Check educational, credit and employment history (as permitted by law), as well as references. Check out the consequences of neglecting background screening
- Train Employees in Fraud Prevention. Do workers know the warning signs of fraud? Ensure that staff members know basic fraud prevention techniques, here are some Tips on Identifying and Preventing Employee Fraud
- Implement a Fraud Hotline. Fraud is still most likely to be detected by a tip. Providing an anonymous reporting system for your employees, contractors and clients will help uncover more fraud. Find out more on how to set up an Ethics & Compliance Hotline.
- Increase the Perception of Detection. Communicate regularly to staff about anti-fraud policies, ways to report suspicions of misconduct, and the potential consequences (including termination and prosecution) of fraudulent behaviour.
At CRI Group™, our experts are trained to help organisations implement the above measures. Our integrity due diligence and risk management services focus on preventing fraud before it happens, not after the fact, when it is often too late to recover stolen funds and assets.
In one case study, a multinational company engaged in the provision of equipment and supplies used by the medical industry contacted CRI Group™. The client wished to contract with a company and wanted to ensure that there were no regulatory or reputational problems associated with the potential partner, and thus wanted to know their track record, integrity and reputation.
During the course of this integrity due diligence, CRI Group™ local operatives focused on whether the company in question was a legitimate business, and sought to identify the key players running operations both in Egypt and Iraq for the company in question. However, questions arose: Research showed no physical locations; the office address was found to be a residential site with no indication of business operations. No commercial relationships in Iraq were evident.
Local operatives further investigated the company’s distribution capabilities in the country, especially to the north and south, as claimed in a questionnaire provided to the client. Yet no information was found from any source to corroborate the company’s claims. Additionally, discreet interviews with local individuals found that no one was aware of the company.
Scepticism was confirmed, CRI Group™ discovered that the company’s principal was previously charged with “criminal breach of trust” and there was still a trial proceeding with regional trial courts. Three other civil damages claims against the principal were discovered, with USD $1.2 million claimed in liabilities.
CRI Group™ helped the client avoid becoming entangled with a fraudulent business and an alleged criminal – protecting the client from making a bad business deal that could have resulted in severe economic loss and a potentially damaged reputation.
Our due diligence services can help put any organisation on the right track to being better protected and positioned to prevent and detect fraud – not just during Fraud Awareness Week, but year-round. Contact CRI Group™ today.
Who is CRI Group™?
Based in London, CRI Group™ works with companies across the Americas, Europe, Africa, Middle East and Asia-Pacific as a one-stop international Risk 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, 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 organisations. Contact ABAC™ for more on ISO Certification and training.
50th UAE National Day 2021
50th UAE National Day 2021
50th UAE National Day 2021. Today is the UAE’s National Day, which coincides with the country’s Golden Jubilee, marking 50 years since the founding of the Emirates, and we couldn’t be more excited to celebrate. This UAE National Day reflects the dreams, development and dynamism of the last 50 years for those who call this nation home. The UAE wasn’t always a prosperous, cosmopolitan country; the country had humble beginnings. The UAE’s rich history is rooted in trade. The Emirates’ location between Europe and the Far East attracted merchants from India and China and was prized by Europeans, particularly the Portuguese, Dutch and British.
Those working from Sunday to Thursday get four days off to celebrate National Day and Commemoration Day from Wednesday, December 1 to Saturday, December 4, giving both private and public sectors a much-needed four-day weekend. Read more about the public holiday here. Join us as we celebrate the remarkable journey of the UAE and now it’s time to experience the festivities together as we honour the Year of the 50th. across Dubai.
Who are Corporate Research and Investigations Limited (CRI Group™)?
Ever since 1990, Corporate Research and Investigations Limited (CRI Group™) has committed itself to safeguard organisations from fraud, bribery and corruption. Based in London, United Kingdom, CRI™ is an international organisation with specialists and resources situated in key, provincial marketplaces throughout the Asia Pacific, South Asia, the Middle East, North Africa, Europe, North and South America and aim to shield organisations from detriment by determining the lawful compliance, financial feasibility, and integrity measures of external partners, suppliers and consumers pursuing to associate themselves with your brand. They are acknowledged as a prominent Compliance and Risk Management organisation accredited and interconnected in the objectives of the Dubai International Financial Center (DIFC) and Qatar Financial Center (QFC).
With a profession spanning over 30-years in the disciplines of fraud prevention, defensive integrity, security and compliance, CRI® Group’s CEO Mr Zafar Anjum is a highly revered authority in his line of work. As a dependable influence in the field of fraud deterrence and protections together with commercial clients, management organisations and trade units, Mr Anjum is renowned for producing secure and reliable networks throughout the dynamic, challenging worldwide markets. In conjunction with a remarkable educational experience coupled with his trade proficiency, Mr Zafar Anjum is continually the first accredited global investigator on the scene when multi-national EMEA corporations pursue to eliminate compliance or security breaches.
2016 found the organisation instituting the Anti-Bribery Anti-Corruption (ABAC™) Center of Excellence – an autonomous certification body that aims to assist organisations in abating core risks as well as peripheral ones through the delivery of a comprehensive group of Anti-Bribery, Compliance and Risk Management programs.
Why CRI™?
CRI Group’s extensive efforts and reliable record in this field of work heavily align with what The UAE Innovation awards stand for – the aim to assist organisations across various sectors in strengthening their vetting capabilities in a manner that demonstrates sustainability in and of the public interest at large while maintaining legalities and development within the internal corporate structure is one to advance innovation in the industry for certain. In a sector that is accelerating the congealment of innovative proficiencies across a countless sum of industries comprising of automotive, aviation, oil, gas & energy, IT & telecommunications, property and many more industries, the services that CRI Group™ have to offer paired with a constructive influence on the society adjacent to it, a significant increase in the development of innovative systems is certainly to be anticipated.
GDPR vs. UK-GDPR; the Laws Post Brexit
The General Data Protection Regulation (GDPR) is a regulation in EU law that was implemented on the 25th of May 2018 and concentrates on data protection and confidentiality in the European Union and the European Economic Area; alongside this, the GDPR is also used to address the transmission of personal data outside the EU and EEA areas. The EU Commission announced on 28 June 2021 that adequacy judgments for the UK have been passed, so what does that mean for the GDPR rules?
The Brexit transition phase concluded on the 31st of December 2020 and as a component of the new trade agreement, the EU has come to an agreement to postpone the transmission limitations for at least four months, which can then be stretched out to six months (recognised as the bridge). The European Commission published its draft decisions on the 19th of February 2021 regarding the UK’s adequacy under the EU’s General Data Protection Regulation (EU GDPR) and Law Enforcement Directive (LED). In both cases, the European Commission has found the UK to be adequate which implies that much of the data can resume the stream from the EU and the EEA devoid of the need for supplementary precautions. Nevertheless, it is vital to take note of the fundamental reality that the adequacy decisions do not cover data conveyed to the UK for the principles of immigration control, or where the UK immigration immunity is appropriate. For this nature of data, distinct regulations are employed, and the EEA dispatcher wants to set other transfer safeguards in place. September 2021 saw WhatsApp being handed the second highest fine under EU GDPR (General Data Protection Regulation) rules and the biggest fine ever from the Irish Data Protection Commission due to their lack of understanding towards the new GDPR laws – had they done their due diligence, they may have been able to avert such a hefty fine. Our Due diligence 360° services provide the specialised intelligence needed by global financial institutions and multinational corporations to guarantee complete compliance with anti-money laundering (AML) regulations and legislations.
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The draft decisions will at this point be deemed by the European Data Protection Board (EDPB) and a committee of the 27 EU Member Governments. If the committee accepts the draft decisions, then the European Commission can formally adopt them as legal adequacy decisions. If adequacy decisions are not implemented at the end of the bridge and allocations from the European Economic Area (EEA) to the UK will require compliance with EU GDPR transfer constraints.
What is the UK-GDPR?
The United Kingdom General Data Protection Regulation (UK-GDPR) is the UK’s national data privacy law that is the proxy for the EU’s GDPR after Brexit; it is fundamentally the equivalent to the EU’s GDPR but altered to accommodate national regions of regulation. The UK-GDPR will regulate personal data and demand the same legal grounds for managing personal data.
The GDPR is indeed still retained in domestic law as the UK GDPR, although the UK has the freedom to maintain the framework under evaluation. The ‘UK GDPR’ as it’s known as, rests adjacent to a revised edition of the DPA 2018. It is also essential to note that the fundamental ethics, constitutional rights, and responsibilities remain as they were but that there are connotations for the regulations on transmissions of individual data between the UK and the EEA.
The UK GDPR also pertains to regulators and processors established out of the UK if their managing pursuits correlate to:
- presenting commodities or services to persons in the UK; or
- supervising the conduct of persons taking place in the UK.
Similarly, there are also outcomes for UK regulators who have an institution in the EEA, have consumers in the EEA, or observe individuals in the EEA. The EU GDPR still pertains to this handling as data can still flow freely from the EEA because the EU have adopted adequacy decisions about the UK, but the European data protection mandates has altered the way you can interact. CRI® Group’s own exclusive, expert-developed 3PRM™ services help you proactively mitigate risks from third-party affiliations, protecting your organisation from liability, brand damage, and harm to the business. Whether your organisation has a large, well-established third-party program, is in the early stages of development, or is anywhere in between, the 3PRM™ solution can improve the health of your program and future-proof your entire business in many forms.
Find out more about 3PRM™ below or download our free brochure.
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Which rules apply?
Whilst the adequacy judgments stay in order, the UK GDPR is still valid and is expected to remain so until the 27th of June 2025. The EU Commission will be supervising advancements in the UK on a constant basis to guarantee that the UK will continue to deliver a comparable degree of data protection. The Commission is still able to revise, postpone, or rescind the decisions if concerns cannot be settled. EU data subjects or an EU data protection authority can also instigate a lawful dispute regarding the decisions in which the Court of Justice of the European union would then have to determine whether the UK did essentially deliver comparable security.
In the absenteeism of an EU GDPR adequacy decision, the Frozen GDPR would be valid to subjective data of the basis of if:
- it was administered in the UK under the EU GDPR before 01 January 2021; or
- it’s being administered in the UK on the basis of the Withdrawal Agreement
Conversely, the UK-GDPR does increase on -and diverge from- the EU GDPR in noteworthy approaches that will make modifications to the legal environment of data protection in the UK.
UK-GDPR expands and changes the European GDPR
The areas increased on by the UK-GDPR are:
- National security
- Intelligence services
- Immigration
These regions, are per definition, are outside the scope of the European GDPR the three of them are deemed to be extra-national regulation from the EU devoid of powers to govern affairs of national confidence in constituent nations. Nevertheless, the UK-GDPR sets out specific concessions by which the customary welfare of personal data can be circumvented, e.g., when in matters of national security or in matters of immigration. It also applies the same requirements for collection and processing of personal data to the intelligence services. A further significant change is that the Information Commissioner, who was the leading data protection authority in the UK today, became the primary director, monitor and enforcer of the UK-GDPR.
Are you post-Brexit GDPR compliant?
The UK-GDR would now entail your organisation’s site or application to request for the user’s approval prior to accumulating and managing data via cookies. It involves that your organisation not amassing more data than is truly mandatory and to also make it as straightforward for your users to rescind authority to the application of data as it is to give it. Transparency is key in the UK-GDPR and requires clarification of how long data is stored and how you will be processing users’ personal data.
Let’s Talk!
It’s always great to have a helping hand when it comes to compliance and risk management – especially with all the new changes expected to take place ahead of securing the integrity and morality across corporate culture. Take a proactive stance with the highest level of expertise as a part of your essential corporate strategy. Contact us today to learn more about our full range of services to help your organisation stay protected.
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