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Deloitte India Forensic Brochures

Tip-offs Anonymous

Whistleblowing has been repeatedly identified as one of the major sources for detecting fraud, with the presence of hotlines having a substantial impact on reporting. Whistleblowing hotlines can help organisations uncover several kinds of issues related to fraud, misconduct, and non-compliance such as theft of inventory, bribery and corruption, financial misstatement, and asset misappropriation. Further, the Companies Act, 2013 and SEBI's (LODR) Regulations, 2015 have mandated organisations to have a vigil mechanism/ whistleblower mechanism as part of their fraud risk management efforts.

Safeguarding your supply chain from fraud

India is moving towards an increasingly consumerist economy, driven by the choice of goods and services at compelling prices. Keeping pace with such a growth momentum can be challenging without robust back-end systems and an adequate infrastructure for supply chain management. There is growing reliance on third-party vendors, multimodal transport and outsourcing activities overall, subsequently leading to increased fraud risks such as counterfeiting, pilferage, bribery, corruption and non-compliance with local laws. If unattended, these fraud risks can result in huge losses for the manufacturers, distributors and retailers.

Managing bribery and corruption risks

Corruption remains a significant fraud-risk for businesses across the world. Given the recent enforcement action across geographies, the failure to address bribery and corruption (ABC) can result in business termination. We, at Deloitte, have been working with organisations in India since many years to help them build robust ABC compliance programmes, identify suspicious activities, and respond to regulator queries.

Insolvency Advisory Services

The Insolvency and Bankruptcy Code 2016 is set to be a game changer in seeking to deal with insolvency and liquidation proceedings in a time bound and efficient manner. Under the Code, the key driver of the insolvency resolution process would be insolvency professionals (IPs). Considering the fact that the IBC contains provisions on avoidance transactions, fraudulent or wrongful trading, and protecting business value during the insolvency period, IPs would have to be equipped with forensic skills or need support from an expert.

Centre of Process Bionics

State-of-the-art business operations are largely process-driven, often supported by a variety of IT systems. Their ever-growing complexity poses tremendous challenges for process transparency, control, and efficiency.

Corporate Intelligence Services

Without adequate knowledge of backgrounds, organizations frequently enter into engagements in unacquainted geographies with business partners, counterparties and third parties. The ambiguity, in terms of specific regulatory guidance and pressures of the business, may force these organizations to take a cursory swipe at due diligence. However, with stronger enforcement of varied laws globally, ensuring the compliance of third parties with regulations is of paramount importance.

Harnessing the power of technology

Every organisation depends on reliable data to run their business. However, traces of possible frauds or a breach can expose an organisation to unbounded levels of risk, inflated costs, and potential reputational damage. Investigative analytics can help provide actionable measures, controls, and pro-active monitoring solutions.

Asset Tracing and recovery

In today’s environment sophisticated ‘criminals’ are deploying complex financial vehicles to conceal the location and source of misappropriated assets. Resultantly, it is difficult to identify assets located across multiple jurisdictions and enforce the recovery claim in these international jurisdictions. Our experienced practitioners use a sophisticated array of tools and resources to analyze financial systems and reconstruct records to find out where funds have gone, in multi-jurisdictional asset searches, and most importantly work on getting them back.

Protecting your business in the Banking sector

Banks are facing an increasingly difficult scenario with increased fraud incidents and low recoveries compounded by a wave of compliance regulations in India and abroad, thereby directly affecting their bottom-line and increased cost of compliance. With increased regulatory scrutiny, banks are under greater pressure to implement best practices. Compliance is therefore not an option but the need of the hour.

Financial Crime Compliance

With regulators adopting stricter regulations on financial transactions and penalties for non-compliance only getting steeper, financial institutions are facing increased complexities in being compliant. They not only need to focus on the costs that need to be incurred on remedial measures but also improve processes and operational controls to help mitigate these risks in the future.

Counterparty due diligence

In recent times, companies have increased their reliance on third parties to help them gain a competitive edge and supplement their rapid growth. However, this also exposes them to various reputational and regulatory risks making it imperative to select business partners after careful considerations.

Data discovery readiness assessment

Undergoing a proactive assessment to structure your information governance processes in order to be adequately prepared before a litigation, an investigation or a regulatory request hits your doorstep is the need of the hour today. An effective preparation, well-articulated data map and an integrated approach can help you make streamlined and timely decisions.

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