Cutting through the smoke and mirrors
Forensic Focus December 2016
Deloitte Forensic are excited to announce that we have upgraded our discovery platform to Relativity 9.3. This upgrade provides additional enhancements and functionality to your document reviews and discovery exercises.
Today, organisations are ever becoming ‘data rich’, generating gigabytes upon gigabytes of data annually. However this doesn’t always equate to businesses being ‘information rich’.
Fraud hits the big screen
New Zealand’s first International Fraud Film Festival was held in Auckland over 18 and 19 November and was a fantastic success.
Business Interruption insurance claims – getting it right
This article explains what BI insurance typically covers and what business owners and their advisers can do to ensure payment is obtained quickly.
The Kaikoura earthquakes and aftershocks over the last few weeks will be a good test of New Zealand’s resiliency, particularly on the back of the Canterbury earthquakes in 2010/2011.
Given the inherent complexity in BI insurance, the size and number of the claims and the scale and nature of devastation, it is inevitable that disputes and litigation will arise over BI insurance claims. The purpose of this article is to highlight some of the more contentious areas in assessing BI insurance claims.
Forensic Focus August 2016
We discuss another typical fraud, fuel cards, and how data analytics can enable organisations to identify fraud or inappropriate use.
Discusses WorkSafe’s current areas of focus and what ‘high risk’ organisations can do to manage their health and safety risks.
Forensic Focus May 2016
Predictive coding has been used extensively in the USA and it is starting to be used in the UK. In the recent English judgment of Pyrrho Investments Limited v MWB Property Limited, the Court directed that the parties could use predictive coding in their Discovery process. This was the first decision of its kind in England and provides insights into the emerging technology available to make the Discovery process more efficient.
New Zealand has undergone a huge transformation in workplace health and safety in the five years since the Pike River tragedy. We have a new regulator, new legislation, and interest in workplace health and safety has increased considerably, particularly among chief executives and directors. But how have these changes played out in the way health and safety operates in our organisations? That’s the question this survey sought to answer – to provide a snapshot of how workplace health and safety is governed, managed and organised in New Zealand today.
New Zealand organisations continue to experience cyber threats that hold the potential to disrupt business operations and service to customers. A vast majority of those threats can go undetected, or they are detected too late for an organisation to avoid exposure and the associated risk. To address the threats, preparation is paramount, but many New Zealand organisations have struggled to know how to take essential steps to prepare their operations for the evolving cybersecurity landscape.
Forensic Focus February 2016
“Spear phishing” is a fraudulent cyber-attack which involves tricking unsuspecting victims with content that appears to be from a trusted source. The goal of spear phishing is to obtain very specific information. This information can be financial information, personal information, passwords, and sensitive employee information. Spear phishing is a common choice of attack for cyber criminals who intend to steal assets, with the most common assets being money and sensitive information. The full impact of spear phishing may not be immediately evident if the attacker holds on to the sensitive information for separate exploitation against the victim’s personal or work related affairs.
The advantages of using P-Cards are that they reduce invoice processing costs (especially for low value items) and they facilitate controlled expenditure. However, why is it that time and time again organisations suffer from fraud and inappropriate procurement practices? These organisations typically have reasonable controls, mature internal audit and procurement functions and clear policies in place - so why is fraud still occurring?
When people lose money to a fraudster, the focus is very rarely about the money itself. Invariably there is insurance or recovery available to cover off any financial loss. Even if that’s not available, rarely are the frauds so large that they completely destroy the financial viability of the organisation itself. Yet fraud can destroy the culture of an organisation and has a profound impact on the people associated with the victim organisation, specifically the fraudster’s colleagues and managers.
Forensic Focus November 2015
Tone at the Top
How the ethics and integrity of Senior Leaders can greatly impact the culture of an organisation (and the risks of it becoming a fraud victim).
E-Discovery – Top 5 questions to improve your discovery process
In a complex business dispute, litigation or regulatory investigation, all organisations face one certainty – the discovery process. Whether you are a litigation lawyer at a law firm or in-house counsel, responding to a discovery request or regulator’s notice involves a myriad of complex requirements for proper data collection, processing, hosting, review and production.
Fraud Film Festival
Coming to New Zealand in May 2016.
Forensic Focus August 2015
Cyber Security: Is your organisation under threat of a cyber-attack?
The short answer is that in today’s world, all organisations are at risk of a cyber-attack. The digital revolution is driving business innovation, yet it is also exposing organisations to new and emerging threats.
Identifying email scams that target businesses
We have seen a sharp rise over the last six months in what are highly sophisticated email scams targeting both business and public sector organisations.
Top 5 fraud trends in 2015
We are regularly asked to assist clients investigate suspected or actual fraud. Often these investigations involve certain fraud ‘trends’ that change over time.
Forensic Focus May 2015
Getting to know them: welcoming the new members of the Deloitte Forensic team
With two new members in our Forensic team, we now have sixteen specialists located from Dunedin through to Auckland who all contribute to a diverse range of skills and experience. Annabel Sergeant and Silas Dich joined us from the UK Deloitte member firm and we have taken this opportunity to ask them to share a little more information with us.
Electronic Discovery: Unplugged
Electronic discovery has been a hot topic in recent years – many clients now appreciate the advantages having evidence in an electronic format provides. There are, however, a number of practical issues that can arise with document reviews.
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 set off alarm bells 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.
Forensic Focus February 2015
Employee Fraud: False Invoicing
False invoices have been used for many years by employees to misappropriate funds from their employers; and it remains one of the most common types of frauds committed by employees in New Zealand. Despite the fact that it is not a new fraud, false invoicing continues to cost New Zealand businesses thousands of dollars each year.
Time for a check-up – Bribery and Corruption in New Zealand and Australia
In 2012, Deloitte undertook an inaugural survey looking at Bribery & Corruption experiences in Australia and New Zealand. Whilst we were aware that historically bribery and corruption has not been high on the risk agenda in our part of the world, the same could not be said elsewhere. We wanted to better understand why this was the case and what types of organisations were actually encountering bribery and corruption incidents. We were also interested to find out what challenges businesses encountered to identify, manage and prevent this global problem
Forensic Focus November 2014
Bitcoin 101: Back to Basics
“Bitcoin” has been the subject of many media headlines throughout 2014. In ‘Bitcoin101: Back to basics’ we provide an overview of bitcoin and how it potentially can be used by fraudsters.
E-Discovery: Common pitfalls
We share some of the common pitfalls and how to avoid them, when managing the eDiscovery process.