Our CEO has been Invited to Speak at The Fraud Outlook 2022 Webinar

The Fraud Outlook 2022 Webinar

Corporate Research and Investigations Limited (CRI Group™) is delighted to unveil our place at The Fraud Outlook 2022 Webinar, which is being held from 12:00 to 13:00 on Wednesday 23 February on Zoom. We’re delighted to be involved. Book your seat now!

Our CEO has been invited to speak at the Fraud Advisory Panel forthcoming webinar, which will take a forward look at some of the current and emerging global fraud threats and what they mean for practitioners. It will provide a timely update on:

• The current fraud landscape in Europe, the US, the Middle East and Asia
• Key insights into anticipated fraud trends over the next 12 to 18 months
• Implications for counter fraud professionals and businesses.

 If you are a counter-fraud professional or a future fraud professional, or you are simply an interested stakeholder, we invite you to join us online. Book your seat now!

Guest speakers are:

Olivia Allison, Senior Managing Director, K2 Integrity

Olivia is a senior managing director in the Investigations and Risk Advisory practice for K2 Integrity, resident in London. She has extensive expertise helping large private, state-owned and publicly listed companies carry out investigations into fraud, bribery, corruption and other misconduct. Olivia has also worked closely with a range of entities to improve their governance and controls, including in Russia, Ukraine, Kazakhstan and other emerging markets. Her practice has been particularly focused on oil and gas, mining and extractive industries, as well as healthcare, retail and financial services.

Joanne Taylor, Senior Managing Director, K2 Integrity

Joanne, a senior managing director at K2 Integrity, has 20 years of legal, investigations and financial crime compliance experience, which includes fraud risk management, anti-bribery and corruption, regulatory enforcement and investigations experience working within the financial and legal services industries. She has extensive experience in leading investigations relating to conduct issues, fraud, bribery & corruption and AML, and her previous roles have included Global Head of Whistleblowing and Global Deputy Head of Anti-Fraud Bribery & Corruption at a major European bank.

Zafar Anjum, CEO, CRI Group™

Zafar is the chief executive of Corporate Research and Investigations (CRI Group™) – building a 32 years’ career in anti-corruption, fraud prevention, protective integrity, security and compliance, Zafar Anjum is a highly respected professional in his field. As a trusted authority in fraud prevention and securities among corporate clients, government agencies and industry groups, he is known for creating stable and secure networks across challenging global markets.

With an impressive educational background coupled with his industry expertise, Zafar Anjum is often the first certified global investigator on the scene when multi-national EMEA corporations seek to close compliance or security gaps.

Starting his educational background in 1989 with his Bachelor of Arts Degree; he then went on to earn a Master of Science in Counter Fraud and the Counter Corruption University of Portsmouth in the United Kingdom along with specialized knowledge and certification in Fraud Investigations, Fraud and Financial Crimes, Corporate Fraud Control and Anti-Corruption. He was also awarded with Distinction in Master of Fraud and Financial Crime and included in Executive Dean’s List of 2016 by Charles Sturt University, Australia.

All while continuing to earn his LL.M Legal Practice (Intellectual Property) from the University of Law in the United Kingdom, which he was completed in February 2019. Alongside enhanced further capabilities and competencies, specifically in the Bribery Risk Assessment framework, he has ICA International Diploma in Governance Risk and Compliance, ICA International Diploma in Anti-Money Laundering and ICA International Diploma in Financial Crime Prevention from the International Compliance Training Academy in the United Kingdom which is mapped and are also awarded in association with Alliance Manchester Business School, The University of Manchester.

His training and business acumen give Zafar Anjum in-depth precision when dealing with fraud risk management, security consultations, crime investigations, crisis management, risk governance, event security and strategic threat management for industry leaders seeking proactive long-term risk prevention.

His leadership abilities create strong collaborative relationships among prevention teams, crime investigators, government officials, and business executives seeking dynamic solutions across international marketplaces.

For industries needing large project management, safeguard testing and real-time compliance applications, Zafar Anjum is the assurance expert of choice for industry professionals. CRI Group™ invites you to schedule a quick chat with Zafar to discuss any current and emerging global fraud threats to your organisation.

GET IN TOUCH:

e: zanjum@crigroup.com | LinkedIn 
t: +44 207 6861415 | m: +44 (0)7588 454959
Reach out for solutions in EMEA, APAC, Americas
Languages spoken: English, Urdu

CRI® Group invites you to schedule a quick appointment with us to discuss in more detail how our risk management solutions can help you and your organisation. 

BOOK A MEETING NOW!

The Fraud Outlook 2022 Webinar Agenda:

Details: UK time

Delegates: Counter fraud professionals/future fraud professionals and other interested stakeholders

Costs: Free FAP/FFPN members; £25 + VAT Non-members

BOOK YOUR SEAT NOW

About Fraud Advisory Panel

The Fraud Advisory Panel is a respected, influential and independent voice of the anti-fraud community. We champion best practices in fraud prevention, detection, investigation and prosecution and help people and organizations to protect themselves against fraud. Our members are drawn from all sectors – public, private and voluntary – and many different professions who are united by a common concern about fraud and a determination to do something about it.

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 Anti-Bribery Anti-Corruption (ABAC™) Center of Excellence – an independent certification body established for ISO 37001:2016 Anti-Bribery Management Systems, ISO 37301:2021 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: CRI News, Leadership Insights by admin
Comments Off on Our CEO has been Invited to Speak at The Fraud Outlook 2022 Webinar

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.

Filed under: CRI News by admin
Comments Off on 50th UAE National Day 2021

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 25^{th 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 31^{st 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 19^th 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.

Find out more about compliance below or download our free brochure.

FIND OUT OUR SOLUTIONS or DOWNLOAD THE BROCHURE

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.

FIND OUT OUR Third-Party Management Solution or DOWNLOAD THE BROCHURE

Which rules apply?

Whilst the adequacy judgments stay in order, the UK GDPR is still valid and is expected to remain so until the 27^{th 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.

GET IN TOUCH

Filed under: Compliance Solution, Industry Insights by admin
Comments Off on GDPR vs. UK-GDPR; the Laws Post Brexit

The Consequences of Neglecting Background Screening

Neglecting Background Screening

Are you neglecting background screening? What consequences may affect your organisation when you ignore this process when hiring? What is it about Background Screening? Statistics have revealed to us that a substantial quantity of resumes that are presented to HR during the recruitment process comprised fabricated material; shortlisting is a rigorous assortment procedure intended to put your applicant on trial, but if you are interviewing an individual who has fabricated much of their resume, how can you make a good judge of character? Put, executing a pre-employment check is the best way to combat this issue.

Background screening is vital to organisations of all types and industries as it can assist in authenticating your employees’ record of accomplishment and help avoid a bad hire. Before COVID-19, it was found that an estimate of 85% of organisations testified to conducting background screening of some type. On the same note, a vast 92 per cent stated that they trust their employees with confidential data but without the assistance of a background screening measure. Find out other ways COVID has impacted the hiring process, or download our background screening brochure.

Below, CRI Group™ has compiled a list of 5 risks you are running into when failing to conduct a background screening check before employment.

1. Your prospective member of staff could be a felon

Hiring a candidate with a criminal record could taint your company’s reputation, generate a highly volatile atmosphere in your office, and harm other staff members. An employer has the right to investigate an applicants’ criminal past; however, the only way to genuinely acquire the data surrounding an applicant’s criminal past when they intend on masking the evidence is through a criminal background check. 

A professional background verification service is a must to communicate with the local authorities to acquire legitimate illegal data and make a well-informed decision for the benefit of your organisation.

2. The odds of employing an unqualified candidate devoid of background screening is 1 out of 6

1 out of every 6 candidates carry inflated or falsified documents to persuade you into offering them the position – and this can be accredited to the rise of credential mills and fake corporations; applicants commonly use counterfeit degrees and false employment records to get hired, and it takes more than just a phone call to find out the reality. 

Background service providers use various procedures to obtain legitimate data, including private trips to the university/corporations where applicants allege to have graduated from or worked. Applicants with falsified resumes are not simply deficient in both integrity and honesty – in most cases, they are also not competent enough to fit your job description. A straightforward background verification uncovers this deception and prevents you from hiring an unqualified candidate.

3. Endangering the welfare of other members of the task force

In correspondence to the Substance Abuse and Mental Health Administration (SAMHSA),9 % of approximately 22.4 million unlawful drug users are employed either full time or part-time. A substance abuser, aside from grappling with efficiency, will also inhibit the performance of their co-worker with their improper demeanour. 

Employees with a record of drug abuse and misconduct are also deemed to be exceedingly inconsistent and present themselves as a danger to their co-workers; workplace violence and delinquency can be attributed to disregarding employee drug tests and criminal checks – checks that avert such calamities making your office peaceful and an improved place to work.

4. Increased abrasion can also be attributed to improper background screening

Pre-employment screening underlines the notion of quality over quantity. It makes sure that you hire the right candidate from a mass of applicants who applied for the position as employees with unsatisfactory credentials habitually find their way into your organisation through fabricated evidence. Hiring model candidates with an admirable mindset and relevant qualifications can mitigate employee turnover and enhance the general outcome of your organisation. However, the good news is that they never last for long, owing to their shortage of output and failure to handle the work delegated to them.

5. A candidate’s social media presence and global database can help nail down an accurate judge of character

Social media platforms in conjunction with international databases, for instance, criminal watch lists, credit archives, and public litigation archives, can expose your candidates’ positive and negative characteristics that may escape you during the interview and selection process. Abandoning these checks will hinder you as an employer from seeing your candidate’s best or worst side when picking among leading applicants who contend for a critical position. Employers who operate social media checks on their candidates have found it simpler to identify their candidates better, as social media is where the candidates are more apt to demonstrate their temperament and talents. The process for operating social media and archive checks can be burdensome, but rest assured that pre-employment screening providers are devoted to passing thorough checks on social media platforms and hundreds of databases to assist employers worldwide make critical hiring judgments.

The Verdict?

Background screening has achieved immense recognition throughout the world over the previous few years as it should do – its impact and the modern setting assist in diminishing the pressures that jeopardise every employer’s aim to enhance their personnel and work environment. Verification should be a compulsory component of an organisation’s onboarding procedure to alleviate all the risks we have discussed thus far. Notwithstanding the apparent advantages that background screening presents, it likewise confirms that your organisation hires the most excellent contenders who would promise continual triumph.

CRI™ is certified by British Standard Institute BSI for the scope of BS 7858:2019 screening of individuals working in a secure environment, Code of practice and BS 102000:2018 Code of practice for the provision of investigative services. The BSI is the only BS 7858 accredited background screening services provider in the UAE and the Middle East. Find out more about the BS 7858:2019 or download our BS7858:2019 free playbook.

The more you invest in sourcing morally correct corporate conduct, the more you can expect to be rewarded with a catalytic action to grow and expand your organisation.

Let’s Talk!

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

GET A FREE QUOTE

Filed under: Employee Background Check, Resources by admin
No Comments »

Anti-Money Laundering (AML) Checks; The Lowdown

Anti-Money Laundering checks is a broad term applied to define checks conducted as a portion of the UK’s Anti-Money Laundering regulatory framework. An AML can be a check on a person carrying out a specialised role, or an organisation supplying goods or services.  The official structure comprises of various distinct Acts and Regulations and differs from nation to nation depending on the laws and legislations the land has in place. The UK law makers are frequently recognised to pursue regulations that aim to counteract, identify, and report money laundering pursuits. This is in an effort to deal with the ever-increasing concerns encompassing criminal activity, terrorism, extremism and profits of corruption. In that sense, the UK Government have succeeded in detecting various vital segments that may be prone to money laundering and ought to take the lead in advocating for best practice and greater regulation within corporate organisations. This is comprehensive of a number of legal and fiscal sectors.

Why are Anti-Money Laundering Checks (AML) Necessary?

Anti-Money Laundering checks intend to generate alterations in the notion adjacent to money laundering as well as other types of monetary violations. Countless trade regulators and organisations employ Anti-Money Laundering checks as the first step in the HR and recruitment process as it helps HR people ensure that employees and candidates have the qualification to work or practice. Checks are also frequently utilised to detect clients while also confirming that additional organisations in the supply chain are proper and appropriate for the business needs. There is no exact collection of obligations for all Anti-Money Laundering checks nevertheless, the existing applicable regulations that are in place to pursue the advancement of risk-based intelligent surrounding money laundering and other such activities. However, it is important to note that there are laws in place that correlate with the need for an anti-money laundering check. Some of the legislations in the UK for instance include:

• The Terrorism Act 2000 (as amended by the Anti-Terrorism Crime and Security Act 2001 and the Terrorism Act 2006
• Anti-terrorism, Crime and Security Act 2001
• The Proceeds of Crime Act 2002 (POCA) as amended by the Serious Organised Crime and Police Act 2005 (SOCPA)
• Counter-terrorism Act 2008, Schedule 7
• Terrorist Asset-Freezing Act 2010
• The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017
• The Criminal Finances Act 2017

An efficient Anti-Money Laundering structure is an indication of your organisations position in opposition to its competitors in the industry against the fiscal offenses. As international commercial nations become progressively more mindful of their obligations, international organisation must develop the comprehensive capability to report these matters and execute procedures, practices, and related risk assessment mechanisms in a bid to minimise their risk and consequence in the grand scheme of things.

CRI™ Anti-money laundering (AML) consultative solution intends to help the investigation of existing systems and further improve operational solutions that decrease your organisations risk of falling quarry to operative, supplier, or outside corporate and fiscal crimes. Our immense Anti-Corruption and Compliance network offers the defense you require when making significant bottom-line decisions crucial to your organisation’s success.

VIEW AML ADVISORY BROCHURE

What are the Outcomes of a Deficient AML Framework?

To have inadequate regulations can result in being indicted with participating in illicit pursuits surrounding money laundering and lead to several of the subsequent adverse outcomes:

• Damaged corporate reputations: brands and organisations who have a diminishing reputation can progressively expect both their supplier and consumer base to weaken causing brand devaluation. This can lead to monetary complexities as well as challenges being able to work in partnership with other organisations and suppliers as a great reputation ensures collaborators that your organisation conducts business lawfully and suitably making them more probable to want to work beside your organisation.
• Negative investor perceptions: in correlation to a wounded reputation, organisations may also find it increasingly challenging to find investors to back their ventures. This could lead to the premature shutting down of a business as well as other issues such as liquidation and bankruptcy.
• Corroding employee morale: trustworthy enterprise always begins from within the corporate culture. Engaging in illicit activities often result in high employee turnaround whilst also corroding employee morale and giving them the opportunity to embark on other illicit activities within the corporate area. This may lead to fraud, bribery and corruption commenced by the employees which is a detrimental and ominous oversight for any organisation. It’s also just as important to screen your employees so you know that your employees are competent for the role in question. Find out more about our employee background screening solutions here.
• Probable consumer boycotts: ethics are just important to a brands consumer as it is to the brand. In the wake of social activism, no organisation is renowned enough to not fall victim to a boycott effort. You may have some loyal consumers left but your organisation may end up with a longstanding, damaged reputation.
• Possible legal action: A general trend when it comes to issues surrounding money laundering is that it usually leads to further penalties surrounding fines and expenses. In this case, legal action not only damages the reputation of an organisation to investors, suppliers, and consumers, it can also result in fines & potential jail terms for company directors and fighting these cases are often as costly as they are time consuming.
•  

It is evident to see that the aftermath of partaking in illicit money laundering schemes and not implementing anti-money laundering checks can lead to the downfall of the entire organisation. And in a world of ever-tightening regulations, why wouldn’t you want to be one step ahead of the industry?

If the perception of an AML check still feels a little overwhelming to you, why not consider booking a free 30-minute consultation with one of our experts here at CRI® Group? Our specialists have years of experience and are qualified to offer your organisation personalised guidance to fit your professional requirements. Don’t hesitate, get in touch today and stay ahead of the rules and regulations that impact your organisation.

Get in Touch Today

Filed under: All Industries, All Regions, Background Investigation, Compliance Solution by admin
Comments Off on Anti-Money Laundering (AML) Checks; The Lowdown

Risks of Cybercrime and Social Media: NEW PLAYBOOK

The risks of cybercrime claims many victims over many sectors. The PwC Global Economic Crime Survey 2020 found that a company falls victim to six frauds on average. The most common types are customer fraud, asset misappropriation as well as cybercrime. It also proved a roughly even split between frauds committed by internal and external perpetrators, at almost 40% each – with the rest being mostly collusion between the two. Few can deny the enormous technological advancements that are constantly taking place in the modern world. The internet, the computer, and other technological advancements have dramatically changed what it means to socialise, ‘chat’, and even read a book. Both the disadvantages and advantages of such developments are clear, and as technology gains pace, so have the unlawful activities of those who seek to take advantages of such developments.

According to a 2020 cybercrime report from Europol, COVID-19 sparked upward trend in cybercrime. In fact, since the beginning of the pandemic, the FBI has seen a fourfold increase in cybersecurity complaints, whereas the global losses from cybercrime exceeded $1 trillion in 2020. 

In other words, as technology evolves, the risks of cybercrime have become complex. The sense that one is safe from crime in the privacy of one’s own home has been lost. In fact, according to World Economic Forum’s “Global Risks Report 2020” the chances of catching and prosecuting a cybercriminal are almost nil (0.05%).

Take the First Steps Towards Developing Measures Against the Risks of Cybercrime! 

This playbook critically examines the growth of cybercrime, evaluating the risks it poses in terms of the different forms of cybercrime that exist and the regulations that seek to detect, prevent and punish them.

The extension of an old legislation to include cybercrime is not entirely effective – especially not for crimes committed within the realm of social media and social networking. Therefore the need to develop an ‘anti-cybercrime culture emerges. It has to be implemented on an international scale that safeguards these crimes – the promotion of careful use would therefore be facilitated to hinder such crimes before they can materialise. Our playbook includes:

• What is cybercrime and why is it important?
• Top corporate cybersecurity risks and 10 types of high-tech crimes
• How cybercrime impacts business and your company’s growth
• Cybercrime and regulations in place
• And how your response as a business matters – how to can you protect your business from cybercrime including advice and tips on how to telework safely

Download the full playbook today and learn step-by-step things your company can do to be better protected from cybercrime. Robust cyber-security, data protection, anti-fraud and risk management all come together to mitigate the dangers posed by hackers, phishers and other cybercriminals.

DOWNLOAD PLAYBOOK

With the playbook in your hands, you’ll learn about the most common cyber attacks. This includes viruses, phishing attacks and website hacks. You’ll also gain a better understanding of the consequences of different types of cybercrime.

To sum it up, the playbook provides best-practices and ways that companies are lessening their risk without spending prohibitive resources to do so. Above all, the right expert advice means that any company can be on the right track to protecting their customers, their assets, and their employees from the risks of cybercrime.

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 B.S. 102000:2013 and B.S. 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.

Filed under: All Industries, All Regions, All Solutions, Background Investigation by admin
Comments Off on Risks of Cybercrime and Social Media: NEW PLAYBOOK

Debugging fears that paralyse fraud prevention

Debug fears for fraud prevention

Even though companies understand the fraud risk factor – nearly 77 per cent of HR professionals accept that there is a risk that employees can initiate fraudulent activity because of the work-from-home arrangement during the pandemic – more often than not, companies do not take action to implement robust fraud prevention processes in place until the organisation is exposed to fraud or appear in the news due to an investigation, incident, or external and (or) internal violation. Based on the article by ACFE, we aim to answer why companies wouldn’t adopt fraud prevention and detection measures proactively. 

The answer is fear. It prevents business leaders from being proactive about fighting fraud. Business analytical tools and systems enable companies to identify red flags quickly, but they do not work as fraud prevention tools. 67 per cent of CRI® Group’s background screening survey respondents said they encountered one type of fraud – employee fraud – in their career. It’s alarming to imagine how others have encountered many other types of fraud. And still, companies pay lip service to efforts to fight fraud. So how the fear factor plays into the decision to fight fraud?

Fear of associated expenses

A fraud prevention tool is a cost you don’t always recognise an immediate return. Consider it like health or car insurance – when it comes to identifying and preventing risk and potential fraud, returns can be harder to quantify.

There are some concerns about spending money on a system that might or might not identify fraud. And if the system does identify fraudulent activity, companies are now obligated to spend more for the additional investigation and possible litigation. It might not be a significant expense for some large organisations, but the budget is better reinvested toward a company’s bottom line.

When trying to save their expenses, organisations forget that expense fraud is one of the most common forms of occupational fraud: employees fudging on their expense accounts. Earlier this year, Lookers (A London-listed company) warned investors they might be unable to buy and sell its shares from the beginning of July because of potential fraud on its books – confirming a £19m charge to correct books after fraud inquiry. Whether through fictitious charges, fake receipts or invoices, or other improper use of expense funds, an expense account is sometimes seen as a low-risk, high-reward area for fraud. It shouldn’t be. Follow these five tips for preventing and detecting expensive fraud.

Fear of technology

Based on ACFE, “companies are concerned that implementing new software technology might increase their exposure to fraud via data breaches. They’re also concerned that technology will replace internal auditors. While data encryption and similar tools can combat the risk of data breaches, addressing personnel concerns are trickier.” Technology is meant to assist but not to replace people. It helps identify the red flags, but human input and investigation are required to determine if fraud is occurring and check the facts. 

Appointing a fraud investigator is a good idea in this case. Fraud investigators are the front line of establishing the facts of suspected fraud or other unethical business behaviour. A fraud investigator’s skillset and wide knowledge of fraud laws, evidence gathering, and interviewing make them the go-to expert for investigating insurance fraud, financial fraud, procurement fraud, asset recovery, cyber fraud, healthcare fraud, retail fraud, etc. In this article about fraud investigators’ role, we explore their key functions, responsibilities and knowledge, and how their skillset helps organisations.

Fear of reputation loss

“Companies might fear their reputations will take a hit if they uncover ongoing fraud schemes. Social media has become a prevalent form of information sharing, so all it takes is the hint of a rumour, and the damage is done. Employees might post the information — or alleged information — that makes it appear as though a company is attempting to hide something”, based on ACFE. This comes as the company’s advantage to be open with employees to fight fraud. Employees are less likely to whistleblow in public when they are safe and have internal options to report fraud and discrepancies.

The key ways of managing the company’s reputation are being transparent, protecting data, and conducting due diligence. It may sometimes feel like your company’s reputation is out of your control. However, you can take steps to help manage your reputation and help steer the conversation. It becomes more difficult when you wait and try to undo later the damage that has already been done. That’s why being proactive in maintaining a positive reputation is the best strategy.

Fighting fraud on the front line is key

Companies must realise that the benefits of fighting fraud far outweigh the fears. Engagement in an early fraud education process acts as a buffer, leading to fewer fraudulent losses. Procurement and payables professionals must implement efficient processes that address red flags and track — early and upfront — non-adherence to mandates. Below is a quick overview of best practices for engaging analytic tools and front-line staff to identify and prevent fraud.

• Tone at the Top: Of course, top-level management must be committed to addressing fraud prevention. However, it’s just as important for middle managers to adopt a zero-tolerance policy toward fraud. A lack of integrity can be contagious. If workers see their supervisors’ rubberstamping processes, it gives them little incentive to raise concerns when they find inconsistencies.
• Segregation of duties: No one should be responsible for an entire accounting function. The individual who sets up a vendor or client shouldn’t be the same person who approves invoice payments. It’s vital to have multiple eyes on the process, especially in smaller organisations where segregation of accounting duties might be limited or non-existent.
• Create a fraud-fighting culture: The very perception of detection helps prevent fraud. A fraud-prevention overview should be part of new employee orientation. Companies also should sign off on internal codes of ethics that outline the steps and procedures employees can take if they suspect fraud. Tips are consistently, and by far, the most common detection method. According to the Report to the Nations, tips detected more than 40 per cent of all cases. Publicise a hotline number internally and externally for your vendors — one of your employees might even be seeking to collude with a client!
• Training and process audit: Perform anti-fraud training for employees annually, at a minimum. Increase your anti-fraud training if you have a substantial number of new employees coming on board. Annual fraud awareness and detection training sends a clear message to employees about your organisation’s high standards and could deter fraudulent activity. Vet suppliers and clients. If you want to avert various fraudulent schemes, you must understand the red flags to look for when onboarding a supplier or client. Vendor vetting in real-time can mitigate upfront risks and dictate those actions required to prevent fraud from slipping undetected through the system. Vendor portals prove invaluable for vetting suppliers using automated data validation.
• Take action: There’s no reason to identify or perform analysis if you’re unwilling to take action. Fraud prevention software can help you do more than detect fraud — it can highlight poor processes that might expose you to fraud. For example, you might have a legitimate vendor or client, but software can raise a red flag because of gaps in your setup process. Analyse results, make changes, monitor and constantly learn from your processes.

Don’t let fear take control

We must help diminish the fears that impede the fight against fraud. At CRI® Group, we know that we can effectively and together use the needed resources to combat them when you acknowledge those fears. We believe that analytics tools and proactive monitoring can turn idle threats into reality.

Your business is at far greater risk for losses due to fraud than organisations that take advantage of fraud prevention tools to leverage their resources: the larger the organisation, the more complex and multi-faceted the governance and responsibility matrix for fraud detection. Passive detection methods aren’t enough anymore. It’s been proven repeatedly that instilling proactive efforts to discover or reduce fraud will increase the bottom line and enhance a company’s reputation. Our fraud examiners can assist you, don’t allow fear to paralyse you into inaction.

Free E-Book | Risk Management & ABMS Playbook

The Risk Management & ABMS Playbook provides tools, checklists, case studies, FAQs and other resources to help you lead your organisation into better preparedness and compliance. Our experts share their plays to help you reduce risk, thereby preventing and detecting more fraud.

The first section addresses risk management directly: proper third-party due diligence and critical background screening take centre stage for this game plan. Section two tackles bribery and corruption, with tried-and-true measures you can implement to stay better protected and comply with strict laws and regulations.

DOWNLOAD FREE EBOOK

About CRI® Group

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

In 2016, CRI® Group launched the Anti-Bribery Anti-Corruption (ABAC®) Center of Excellence – an independent certification body established for ISO 37001:2016 Anti-Bribery Management Systems, ISO 37301 Compliance Management Systems and ISO 31000:2018 Risk Management, providing training and certification. ABAC® operates through its global network of certified ethics and compliance professionals, qualified auditors and other certified professionals. 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.

CONTACT CRI® GROUP

Speak up | Report Illegal, Unethical or Improper Behaviour

If you find yourself in an ethical dilemma or suspect inappropriate or illegal conduct, and you feel uncomfortable reporting through normal 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.

COMPLIANCE HOTLINE

Filed under: All Industries, Global, Industry Insights, Resources by admin
No Comments »

Fraud Advisory Panel UK counter fraud 2019 report is out!

Fraud poses a major threat to the UK and the world. The slow progress in fighting fraud in 2019 was evident to all of us with the never-ending stream of news stories documenting bribery and corruption cases around the world in 2019. We documented each with our article on Top 10 Bribery and Corruption Cases of 2019  where we count down the stories:

• Juniper Networks
• Alstom
• Microsoft
• KPMG
• Samsung Heavy Industries
• Fresenius Medical
• Walmart
• TechnipFMC
• Ericsson
• Unaoil

But these cases helped some of the welcome signs that government and law enforcement were beginning to ratchet-up their interest in fraud with new regulatory updates. 2020 was looking promising to all fraud fighters around the world. Unfortunately COVID-19 pandemic has turned the tide in the fraudsters’ favour – creating the current environment of fear, confusion and economic uncertainty in which fraudsters thrive.

The latest Fraud Advisory Panel’s report, The calm before the storm UK counter fraud in 2019 highlights all of these and more. According to the report the SFO continued to conclude
successful deferred prosecution agreements (though still without converting any of them into individual prosecutions):

• 53% conviction rate (17 defendants out of 32)
• 11 criminal investigations opened
• 8 defendants charged (investigations closed without charge – 14)
• 16 defendants awaiting trial
• £3.9m funds recovered
• 11 new confiscation orders (combined value £4.1m)
• £1.5m for the first Account Forfeiture Order
• 70 total caseload

And all of the stories help illustrate the need for organisations to have proper controls in place to prevent bribery and corruption. A certification such as ISO 37001 – Anti-Bribery Management Systems standard can provide a comprehensive approach to mitigating bribery and corruption risk. Organisations of all sizes and industries should take steps now to ensure that they don’t end up on a future list of top bribery and corruption scandals. Only a well resourced, cross-sector, intelligence-led response can tackle fraud.

Staying one step ahead of any critical risk to your organisation is part of being an effective business leader. For assistance in developing and implementing a fraud prevention strategy, contact us today or get a FREE QUOTE now!

Who is CRI Group?

Filed under: Anti-Bribery Anti-Corruption Solution, Compliance Solution, COVID-19 Insights, Due Diligence, ISO 37001, 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
No Comments »

Fraud Advisory Panel have set up a COVID-19 fraud watch group

The Fraud Advisory Panel have set up a COVID-19 fraud watch group.  A cross-sector and cross-industry coalition of trusted partners (including the Cabinet Office and City of London Police) who meet weekly to share information on emerging fraud threats and trends affecting business. The panel aims to act as a conduit to warn the public, private and third sectors about COVID-19 fraud risks. In addition to supply  preventative actions that can be taken.

Measures announced over recent months to deal with COVID-19 have seen our day-to-day life drastically changed forcing us to spend more time at home and online. Unfortunately, criminals are using every opportunity they can to scam innocent people and businesses. GOV.UK has also released advice and guidance on how to protect yourself and your business from fraud and cyber crime. This guidance explains simple steps you can take to protect yourself and your business against fraud and cyber crime and where to get help. The National Cyber Security Centre has also published advice on how to spot COVID-19 scams and keep remote working safe.

If you think you’ve been scammed or you’ve found something which looks like fraud or a scam, contact Action Fraud.

Staying one step ahead of any critical risk to your organisation is part of being an effective business leader. For assistance in developing and implementing a fraud prevention strategy, contact us today or get a FREE QUOTE now!

Have you read?

• Brexit poses new bribery challenges, ISO 37001 provides solutions
• Bribery and corruption plague Middle East, how can ISO 37001 help?
• As South Asia Grapples with anti-bribery compliance, ISO 37001 provides solutions
• Whitepaper: Organised catastrophe of international Pakistan airlines
• Rolls-Royce Case study: Ethics & Compliance
• ISO 37001 FAQ
• Are you ready for ISO 37001?
• Don’t have an ethical code of conduct? Your organisation needs one

Who is CRI Group?

Filed under: Anti-Bribery Anti-Corruption Solution, Compliance Solution, COVID-19 Insights, Due Diligence, ISO 37001, 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
No Comments »

Fight Fraud with ABMS Certification

Fraud, bribery and corruption cause serious harm to business. They can have a major financial impact, damage an organization’s hard-earned reputation and destroy company culture. That’s why at CRI® group we focus on helping organizations address these risks – as a team effort. All fraud, bribery and corruption (collectively referred to as economic crime) is unacceptable and should not be tolerated by any organization. It affects the ability of any business to thrive and it can cost them billions. A good example is NHS.

The NHSCFA 2018/19 Business Plan estimates that £1.29 billion could be lost to economic crime from the NHS in England on an annual basis. This estimate includes losses across NHS Providers and CCGs, as well as NHS England and further detail is provided in the NHSCFA Strategic Intelligence Assessment (SIA).

According to the Association of Certified Fraud Examiners (ACFE), “Tone at the Top” – the ethical atmosphere that is created at an organization or in a workplace by the attitudes and behaviors of an organization’s leadership – is a major factor in determining whether fraud, bribery or corruption is likely to take place. That’s because employees lead by example. If their leaders show a strong, zero-tolerance approach to fraud, those who report to them are likely to follow. In fact, the ACFE’s research shows that the most common determinants of ethical behavior in the workplace are the following:

• Behavior of superiors
• Behavior of peers
• Industry ethical practices
• Society’s moral climate
• Formal organizational policy

There is also evidence that a company’s own employees are its best protection against fraud. Statistics show that most fraud is detected by internal tips, even more than audits and other methods. That means that employees are recognizing fraud, understanding that it’s wrong and not acceptable at their workplace, and reporting it.

So it stands to reason that the more trained and educated a workforce is about fraud, bribery and corruption, the better that organization will operate as a team in preventing and detecting those behaviors.

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® Center of Excellence uses this approach as a focal point in providing the training and knowledge your organization needs to prevent fraud, bribery and corruption. Our experts tailor a program to your organization’s needs, accommodating every level of your organization to ensure that certification is a team effort among your employees.

Certification addresses Tone at the Top by ensuring that an organization’s governing body and top management are exercising appropriate oversight and meeting all legal requirements. But it also does so much more. The ISO 37001:2016 Anti-Bribery Management System certification empowers you with the ability to safeguard and maintain the integrity of your company by:

• Guaranteeing that all workers and agents are devoted to the latest anti-bribery practice.
• Regularly validating compliance to appropriate legislation like the FCPA and UK Bribery Act 2010
• Jointly cooperating with stakeholders to observe and reduce the risks throughout your supply chain
• Externally scrutinizing your company, testing the effectiveness of your anti-bribery policies and processes
• Ensuring compliance in action

Most of all, ABAC® certification will help your organization come together, united in efforts to prevent fraud, bribery and corruption. When financial losses begin to reverse and the organization shows improved financial health, each employee will understand how their individual effort and attitude has helped make a positive difference in the fortunes of the company.

The ABAC® teaches that. It also increases employee pride and morale. Most of all, it demonstrates to staff that leadership supports them and will have their backs when it is time to do the right thing.

Nobody wants to feel they are on an island. Don’t delay on getting your organization started on the path to certification today.  ISO 37001:2016 Anti-Bribery Management System certification is offered under CRI® Group’s ABAC® Centre of Excellence, an independent certification body established for Anti-Bribery Management System training and certification, ISO 37301 Compliance Management Systems and Risk Management System certification. The program will be tailored to your organization’s needs and requirements. For assistance in developing and implementing a fraud prevention strategy, contact ABAC® today or get a FREE QUOTE 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 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: Anti-Bribery Anti-Corruption Solution, Compliance Solution, ISO 37001, Resources by admin
No Comments »