Corporate fraud & corruption
February 2017 | SPECIAL REPORT: CORPORATE FRAUD & CORRUPTION
Financier Worldwide Magazine
February 2017 Issue
The spectre of fraud and corruption – be it insider trading, money laundering, bribery or the embezzlement and misappropriation of corporate assets – seems to pervade the corporate world like a plague. It is certainly a major bugbear for businesses, particularly given the expanding options for shady practices presented by corporate cyber networks. To mitigate corrupt and fraudulent activities, companies need to implement and improve robust policies and procedures. They also need to keep an eye trained on evolving regulations to ensure their internal systems are compliant. And, if they have not yet done so, they also need to entrench the issue as a key agenda item in the boardroom.
FORUM: Financial institutions – managing and mitigating fraud and financial crime
FW moderates a discussion on managing and mitigating fraud and financial crime for financial institutions between Garry W.G. Clement at the Clement Advisory Group, José Bonilla at Jones Day, Amy Van Gelder at Skadden, Arps, Slate, Meagher & Flom LLP, and Amparo Zabala at Zurich.
The Committee of Sponsoring Organizations returns to its fraud roots after 30 years
Cotton & Company LLP The Committee of Sponsoring Organizations (COSO) Internal Control – Integrated Framework (originally published in 1992) has done more to improve organisational accountability than anything since Luca Pacioli invented double-entry bookkeeping...
Great internal controls and then it happens – fraud
Elliott Davis Decosimo Even the most comprehensive internal control structure cannot guarantee fraud prevention. All internal control structures have certain fundamental limitations; judgment considerations, breakdowns, management override, materiality...
Fraud prevention and detection – focus on the technological trend
Jones Day How much loss could fraud cause? According to a report from the Association of Certified Fraud Examiners (ACFE), which contains an analysis of 2410 cases from January 2014 to October 2015, it is estimated that fraud could cause losses totalling...
M&A and FCPA due diligence – the stakes are high
Klink & Co. The stakes are high when orchestrating an acquisition or retaining third parties to represent your business, especially outside the US. The lack of proper due diligence can cost an organisation money and reputation. For example, in 2016, 27 companies...
McHard Accounting Consulting LLC Each year, Fortune magazine lists the 500 most profitable US corporations – known as the Fortune 500. In 2016, these companies represent about $12 trillion in revenue. The Association of Certified Fraud Examiners (ACFE) estimates in its 2016...
Dechert LLP The days that unfounded or exaggerated claims to legal professional privilege in UK corporate investigations into economic crime pass unchallenged are well and truly over. Alun Milford, UK Serious Fraud Office (SFO) general counsel...
Developments in corporate criminal liability
Arnold & Porter Kaye Scholer LLP Corporate criminal liability is in a deeply unsatisfactory state. The law attaches criminal liability to companies in two completely separate ways. The first of these, and the most longstanding, is the ‘directing mind’ route. The second is through...
Plea agreements in Brazil: concept, procedures and impact on corruption cases
Torres Falavigna Advogados So-called plea agreements, or in Portuguese, colaboração premiada, are not new in the Brazilian legal framework. However, they gained strength with the enactment of Law 12.850/2013 and notoriety during the Car Wash Probe...
US trade compliance – recent changes and changes to come?
Akrivis Law Group PLLC 2016 was a pivotal year for US trade compliance, which has enjoyed a vastly expanded role in the planning and legal strategies of not only US, but foreign companies over the past decade. Key changes in the US’ sanctions...
CONTRIBUTORS
Akrivis Law Group PLLC
Arnold & Porter Kaye Scholer LLP
Clement Advisory Group
Cotton & Company LLP
Dechert LLP
Elliott Davis Decosimo
Jones Day
Klink & Co.
McHard Accounting Consulting LLC
Skadden, Arps, Slate, Meagher & Flom LLP
Torres Falavigna Advogados
Zurich
FORUM: Financial institutions – managing and mitigating fraud and financial crime
The Committee of Sponsoring Organizations returns to its fraud roots after 30 years
Great internal controls and then it happens – fraud
Fraud prevention and detection – focus on the technological trend
M&A and FCPA due diligence – the stakes are high
Developments in corporate criminal liability
Plea agreements in Brazil: concept, procedures and impact on corruption cases