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Practical Advice for Navigating Compliance & the Investigative Landscape

03/07/2015

By Toby Duthie, Partner at Forensic Risk Alliance &
Lukas Bartusevicius, Business Development Analyst at Forensic Risk Alliance


It seems today that nearly every business sector generates headline-grabbing fraud, bribery and corruption-related stories - one only needs to look at the allegations surrounding FIFA, or any one of the recent banking industry scandals. Steadily increasing regulatory fines, double or even triple jeopardy, together with follow-on civil litigation is a common challenge for corporates under investigation. In anticipation of more of the same, we set out below some practical advice as to how to conduct an investigation.

Data Collection

First and foremost, assuming a red flag has been raised linking the company to an episode of bribery, fraud or corruption, is to identify and lock down the data. Standard requests include:

• Electronic communications – email, internal and other P2P chats, as well as SMS messages and chats that take place via social media (e.g. Facebook Messenger), etc.;
• Voice communications – any remaining voice recordings are likely to be of limited use given that these are normally only retained for 6 months;
• Electronic Files – term-sheets, presentations, other documents shared with clients, internally etc. Should expect most, but not all, to appear as email attachments;
• Electronic diaries and T&E reports – who went where, met with whom, when.

Even at this early stage, it is useful to assemble a cross-functional team from IT, legal, and operations groups to help identify and access the data sources, as well as to determine the scope of the collection exercise. Data privacy and proportionality are key considerations, especially if a multi-jurisdictional approach is required.

Data Analysis

The most effective way to drive the subsequent analysis is to assess the reliability and the nature of the allegations, along with where the most empirically sound data can be found; in short -... continued on page two >

 

 

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