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How we can help
Fraud, conflicts of interest, code-of-conduct violations and regulatory non-compliance are unfortunate business realities, with severe impacts. We help our clients to act quickly and confidently in a crisis, investigation or dispute. We use our network, deep industry experience and advanced analytical technology to understand and resolve issues. We deliver the proactive advice that clients need to reduce the risk of problems.
As corporate and personal finances get stretched, people may be more tempted to commit fraud to benefit themselves or to falsify financial results. Evidence suggests that the average organisation may be losing the equivalent of 5% of its annual turnover to fraud, so it is essential that businesses react rapidly and appropriately to any suspicion of fraud or misconduct.
Our Deloitte forensic team has experience in all types of forensic investigations and in helping organisations manage and reduce the risks of fraud.
Our team provides the full range of forensic services, including:
Financial Crime Advisory & Analytics
The pressure to tackle Financial Crime has never been greater. Deloitte is at the forefront of the fight against Financial Crime and has assisted many of the world’s leading financial institutions in developing, implementing and remediating all aspects of Financial Crime Risk Management programs, as well as investigating financial crimes.
Using our advanced analytics capability and deep technical experience, we help clients quickly and efficiently address their issues. We deploy sophisticated analytics approaches to gain a deeper and more complete understanding of what has occurred and how similar problems can be prevented. We also work proactively to detect inefficiencies and anomalies in systems - targeting cost recovery and identifying potential issues before they happen.
Corporate Intelligence Services
Our Corporate Intelligence Services leverages our highly trained investigators with extensive commercial and public sector experience in conducting in-depth investigations in the context of due diligence, fraud, asset searches, litigation support and other matters. We assist clients in identifying and addressing potential risks to help avoid costly mistakes, regulatory sanctions and reputational damage.
Deloitte helps our clients act quickly and confidently in the face of regulatory concerns and actions, or sensitive internal investigations into fraud, corruption and misconduct. Our global network allows us to combine an understanding of local business cultures and regulatory issues to find a path to a successful resolution, and leave the client better-prepared to protect their assets and reputation.
Disputes & Litigation
In a complex business dispute, Deloitte works with organisations and their legal advisers in judicial and alternative dispute resolution forums, across a range of jurisdictions. Drawing on our deep expert witness, financial analysis, damage quantification, and discovery capabilities, we give our clients the insight and understanding they need to strengthen their case, at all stages of a business dispute.
Deloitte's global industry and technical experience yields a more intelligent approach to discovery. Our insight into client needs enables us to address current matters in a cost-effective manner that is designed to withstand scrutiny, and establishes a robust and repeatable process for the future.
Covid-19: Insight & Support
Deirdre Carwood discusses how Covid-19 is impacting Financial Crime and Fraud.
Covid-19: Insight & Support
COVID19 Action: Routes to reclaiming losses
It can be a daunting task to make sense of the current environment and keep abreast of all the information needed for you to make informed choices. It is essential now that we consider the next steps to ensure that costs and losses are minimised, while also making certain that we have identified all mechanisms to recoup losses through either contractual or insurance routes.
Routes to reclaiming losses
Read the full report here
Forensic Focus on COVID-19: Conducting investigations remotely
Companies are facing significant operational, financial, and strategic challenges as a result of the novel coronavirus (COVID-19) breakout. Lower revenues will likely result in budget modifications, with funding allocated to those parts of the business deemed critical to meet current and near-term operations.
Forensic Focus on COVID-19
Read the full report here
Forensic Focus on COVID-19: Unlocking the power of data
COVID-19 has resulted in significant negative economic and operational consequences for many organizations, as well as personal challenges for individuals to manage during these uncertain times. Many organizations, daily now, are analyzing the impact this crisis is taking on their supply chain, revenues streams, liquidity, and workforce, among a myriad of other impacts. The workforce is also affected by COVID-19. Two elements of the fraud triangle1- pressure and rationalization for organizations, employees, and third parties to perpetrate fraud during a time of crisis-typically rise, and anecdotal information to date informs us this crisis is no different.
Forensic Focus on COVID-19: Insider trading risk in the wake of COVID-19
Recent accusations of "stock dumping" raise questions about whether those made privy to nonpublic material information during times of crisis have placed their personal financial interests ahead of those of the investing public or their companies, potentially violating insider trading laws.
Forensic Focus on COVID-19: Financial statement fraud
The coronavirus disease (COVID-19) outbreak has quickly advanced on a global scale and responses to it continue to rapidly evolve. The financial impact of COVID-19 will likely put enormous pressure on corporations' financial results and present potential challenges for individual employees. This pressure may increase the temptation for individuals to engage in improper acts in order to address their immediate financial needs or resort to financial statement manipulation to meet stakeholder expectations.
Forensic Focus on COVID-19: Valuing business insurance claims
To address the financial impact of COVID-19, organizations are taking initial steps to recover losses, including standing up loss accounting centers; implementing tools to aggregate, analyze, and monitor business impacts; and developing relief recovery strategies. At this point, those pursuing or expecting insurance reimbursements and other potential sources of funding, such as the Coronavirus Aid, Relief and Economic Security (CARES) Act or government agency programs, should be preparing wellsupported impact assessments as well as claims and relief recovery substantiation.
Combatting Illicit Finance
As criminals become increasingly sophisticated, they’re finding new ways to channel illicit money through legitimate banks. In the process, they’re managing to stay one step ahead of the industry. This has a potentially significant impact on Ireland, given its role as a dynamic international financial services hub. Read the full article to discover the five steps to collectively tackle illicit finance.
Eolas Justice magazine Reports
In the November 2021 issue of Eolas Magazine, Deirdre Carwood, Head of Deloitte Forensic, featured in Eolas Magazine’s Justice report. Read her views on the threat illicit finance poses to the security and prosperity of all nations, and how to combat this growing issue in Ireland.
Breaking free from government ransomware attacks
To pay or not to pay: That's the essential dilemma for governments faced with ransomware attacks. Deloitte's Tim Li and Doug Powers tell host Tanya Ott how the public sector can face the looming threats.
The connected defense: Elevating the fight against financial crime
Using 4IR technologies to prevent and detect the growing ecosystem of financial crime. Our collective connectivity increases the digital attack surface for cyber—both at home and at the workplace. But the same technologies that have given rise to a digital criminal ecosystem can be turned on their head to help combat financial crimes.
Deloitte Bribery & Corruption Survey 2019
Bribery and corruption is a multi-dimensional issue, where incidents can undermine an organisation’s reputation, culture, regulatory standing and profitability. Beyond organisational borders, this force damages people, communities, economies and countries.
Financial Crime ....is that fraud?
There is no single definition of financial crime in Irish law. Money laundering, bribery and corruption, cybercrime, handling the proceeds of crime, financial markets abuse, and accounting and tax fraud are all considered financial crimes. The list is endless and constantly changing.
How to spot possible fraud
Throughout the numerous fraud investigations we have carried out, we have identified a list of common themes or ‘red flags’. Any one of these could indicate that a possible fraud is taking place. Being alert to red flags and responding appropriately can assist you to detect fraud earlier and in some cases prevent fraud occurring altogether.
The Evolution of Forensic Investigations - A Series
An analytics driven approach to fighting fraud
Forensic analytics is a critical capability in the future of investigations. Our five-part series explores analytics-driven fraud fighting approach, the need for available and accurate data, technologies required to extract data and realise its value, and continuous monitoring of transactions and activities, a process that produces invaluable results.
Open Banking, Open Risk?
There is growing consensus that the current global framework for fighting financial crime is not as effective as it could be, and that more needs to be done at the international, regional and national levels to help identify and stem the flow of illicit finance – an activity which supports some of the worst problems confronting society today, including terrorism, sexual exploitation, modern slavery, wildlife poaching and drug smuggling.
Technology and Fraud
In the past 10 years we have seen increasing levels of sophistication in fraud schemes and a significant rise in the number of cyber-criminal groups and organisations targeting both companies and individuals with such schemes.
Traditional fraud, focussed on monetary assets, continues to exist but the exponential growth in the amount of data held by companies, facilitated and created by technology, is now a target for fraudsters. On the dark web, private health data typically sells for 10 times more than other personal data.
The EU Regulatory Landscape
2020 is going to be both a challenging and rewarding year for EU regulators, as they continue to navigate the fall-out from Brexit and the increasing public appetite to control the use of their own personal data. Our framework provides a high level assessment of the expected regulation to be enacted and progressed in 2020 in the EU. Consider how this may impact you as a technology, media or telecom business.
Harnessing the power of Analytics and AI for contract management
dTrax is an end-to-end Contract Lifecycle Management (CLM) solution that improves contracting efficiency, visibility and compliance through advanced analytics. Using extracted contract-related data and integrating it with business data, dTrax provides standardised templates, first draft automation and management of full negotiation and workflow with streamlining the contract management process with all executed contracts in one place.
Financial Crime & Risk Compliance Solution
Deloitte Beacon, our cloud-based financial crime risk and compliance solution acquires critical information to address gaps between principles and practice in an organisation’s compliance programme.
From compliance risks ratings to controls effectiveness, and other key performance indicators, Deloitte Beacon enables organisations to have an aerial view of their threats and risks while operating in a global market place.
Deloitte Halo is our digital whistleblowing solution. It equips your organisation with secure and confidential reporting channels that help you strengthen governance and internal controls.