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Fraud risks in manufacturing - While acts of fraud will continue, anti-fraud controls, when tailored to the sector and evolved over time, can significantly reduce or even eliminate threats of fraud.

Key to making compliance framework a success is to consider compliance as a “business enabler”, keep it “refreshed” and measure its effectiveness.

As the festival of lights draws near, it is the opportune time to clear any predicaments associated with gifting. When gifts are solicited or breach the organisation’s code of conduct, it wipes the thin line that separates a gift from a bribe.

A forensic investigator has deep subject matter knowledge and investigation experience has only gained prominence in detecting, investigating and mitigating fraud.

Information Technology (IT) is no longer just a support function focusing on physical assets. It has transformed into a gatekeeper of ‘information’, which is the lifeblood of any enterprise. Data has become ubiquitous and digitisation is now a way of doing business, and any slip-up in information security is a significant propeller for fraud.

Success stories of home grown unicorns have found a sweet spot in management lessons and entrepreneurial aspirations alike. A 2017 CB Insights report suggests that outside the U.S, India has the second highest number of unicorn start-ups in the world.

For centuries, barter system was a medium of exchange until its inherent disadvantages substituted “goods” with precious metals like gold or silver. This was followed by the advent of paper currency or legal tender. In all likelihood, Satoshi Nakamoto did not envisage his discovery taking the whole world by storm when he launched Bitcoin in 2009, a virtual currency, and the one most widely used today.

Today, the ascent of a shadow economy is no surprise. In fact, this system has existed since the very inception of the term ‘economy’. What’s surprising is how shadow economies are mushrooming around the world. The clandestine activities which govern a shadow economy, like carrying out business transactions for cash, evading taxes, and dodging regulations flourish during times of financial uncertainty.

The art of physiological manipulation has made organisations world over susceptible to scams. The term, Social Engineering Fraud, as we know it, has become a thriving business for fraudsters hiding in the cyber space and has been spreading like an endemic across industries and regions. Consider the data from the international police agency, Interpol. It attributes total losses to Business Email Compromise (BEC) at around USD 1.2 billion in 2015 . Needless to say, this fraud is one of the top security concerns for enterprises.

HR Transformation: Are we there yet?