Published 15 Apr 2020 by Peter Shadbolt. Read the full article here to find out how companies can better manage their exposure to fraud risks and prepare for potential investigations.
“The volatility of COVID-19 has caused unprecedented financial pressures that have led individuals to look at ways to extract value from the company...and we can expect an uptick in fraud" said Keith Williamson, Managing Director and Head of Disputes and Investigations, Asia. “Against a backdrop of companies spending less money on corporate governance and compliance, and the restrictions management face due to quarantine and working-from-home measures, there are going to be more opportunities for these issues to develop,” Williamson said. “These new compliance risks bred by COVID-19 need to be addressed by more effective monitoring technologies, to ease the pressure on fractured compliance teams. The current crisis provides a wake-up call for companies and this will clearly lead to an enormous effort in its aftermath," said Chris Fordham, Managing Director, Disputes and Investigations. “Cross border litigations and arbitration cases, travel bans, quarantine measures and work-from-home polices brought new logistical challenges for the forensic acquisition of electronic evidence and document review processes. Forensic technology comes into play to ensure the E-Discovery process is not compromised," said Davin Teo, Managing Director and Head of Forensic Technology, Asia.