Financial crime examinations

Financial crime poses a real and substantial threat to the stability of any business. Taking the proper measures to prevent or react quickly to a malfeasance is critical. Fraud and theft involving everything from intellectual property to inventory from cybercrime to corruption, can be critically expensive.

Economic crime continues to be a serious challenge for business leaders, governments and societies as a whole, with 21% of respondents in Hong and Macau and 28% in mainland China reported to have experienced some form of economic crime over the last 24 months.

The survey shows that three most common types of economic crimes experienced in the last 12 months were asset misappropriation, cybercrime and bribery and corruption.

Bribery and corruption remain key concerns for companies in China's mainland. 46% of mainland China-based respondents who reported that their organisations had been the victims of economic crime categorised the crime as bribery and corruption, marking an increase from 39% two years ago.

Cybercrime continues to be a concern in Hong Kong and Macau with 50% of respondents experiencing economic crime reported being the victims of cybercrime, compared to 37% in the 2014 GEC Survey.

The survey emphasises that detecting economic crime is still a challenge. There is a persisting issue relating to the awareness of cybercrime and effective solutions need to move beyond technology departments and become ingrained in strategy within an organisation.

For organisations that encounter economic crime, fraud, or allegations of financial irregularity, our experienced and knowledgeable teams can manage and minimise the threat of corporate crimes and achieve improved outcomes using the following four front strategies:

Reduce business disruptions, financial loss, and reputational damage;
Identify the perpetrators and uncover actionable evidence;
Trace and retrieve stolen/missing assets as fully as possible; and
Recommend and/or implement effective remedial action to forestall future incidents.

We combine financial and accounting acumen with investigative skills and industry specific expertise to create a network of experts on an international level. Our global resources include CPAs, forensic accountants and Certified Fraud Examiners, former law enforcement officers, prosecutors, former financial regulators, lawyers, insurance specialists as well as forensics technology and asset recovery specialists.

We provide assistance with:

Forensic analysis

Review complex accounting systems;
Untangle complex financial transactions;
Identify unusual or suspicious transactions;
Test for fraudulent/misrepresented financial statements;
Reconstruct damaged accounting records using forensic technology; and
Test for unauthorised access and modification of client's financial statements.

Fraud enquiries

Assess bribery and corruption assets;
Examine alleged misappropriation of corporate assets/funds;
Secure vital evidence;
Use forensic technology to query and analyse data sets and user files;
Conduct fact finding interviews with relevant parties, obtain statements; and
Prepare an objective report on findings.

Fact finding & process review

Conduct searches of public records and publicly available databases;
Identify conditions/control deficiencies that led to identified irregularities/incidents of deception;
Uncover undisclosed conflicts of interest and improper business relationships;
Confirm and verify facts;
Interpret the results and implications for your business; and
Quantify impact.

Asset tracing

Identify hidden assets; and
Assist in determining the ownership of assets.

Remediation

Provide recommendations and develop cost effective solutions;
Develop and prepare evidence briefs; and
Provide expert witness services.

Contact us

Partner

Tel: +[852] 2289 2411

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China Consulting, Forensics Leader

Tel: +[852] 2289 1871

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Antoinette Lau

Partner

Tel: +[86] (21) 2323 5533

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