New York City Department of Investigation的动态

The UK's Economic Crime and Corporate Transparency Act (ECCTA) represents a significant regulatory shift, holding businesses accountable for preventing fraud across their operations, including their third-party networks. Organisations are now required to demonstrate comprehensive fraud prevention measures. Senior management is under increased scrutiny, tasked with proactively managing fraud risks, and facing the potential for prosecution. The repercussions are serious, ranging from unlimited fines and reputational damage to heightened regulatory oversight. Strengthening fraud risk management frameworks is now imperative to meet these enhanced regulatory obligations. In this series of articles for Governance & Compliance magazine, Secretariat Managing Director?Hitesh N Patel and Director?Ben Boorer explore the extensive reach and practical implications of the ECCTA, providing insights into how businesses can effectively navigate the challenges imposed by the Act. Read the full articles (subscription may be required): Failure to prevent fraud – what you don’t know could hurt you:?https://lnkd.in/gxup49BT How ECCTA changes the game for fraud risk management:?https://lnkd.in/gwUkCaKw #corporategovernance #compliance #investigations The Chartered Governance Institute UK & Ireland

Unveiling 13 Common Fraudulent Practices in Government and Public Sector ?? ?? Fraud in the public sector undermines trust and service delivery. Enhance transparency with insights into these 13 common fraudulent practices. Strengthen accountability and safeguard public resources. Read more: https://hubs.la/Q02G9CRB0 #government #fraud #publicsector #transparency #accountability #whistleblowing #ESG

In the UK, the fight against serious financial crimes like fraud, bribery, and corruption is spearheaded by the Serious Fraud Office (SFO). The SFO stands out for its dual capability: it not only investigates but also prosecutes some of the most complex and high-profile financial offences. This unique position allows the SFO to tackle intricate cases that span borders, industries, and multiple financial disciplines. One of the key aspects of the SFO's role is its proactive stance in preventing financial crimes. This not only involves punitive measures post-crime but also includes preventive actions, such as issuing guidelines and working collaboratively with businesses to promote transparency and ethical practices. The SFO’s investigations can have significant implications for individuals and businesses alike. Those under investigation can face not just legal consequences but also reputational and financial repercussions. This underscores the importance of understanding the SFO’s methods and the legal landscape in which it operates. What are your thoughts on the effectiveness of investigative bodies like the SFO in maintaining financial integrity? #sfo #financialcrime #ukbusinesses

In today's fast-evolving business landscape, corruption and bribery are significant risks that can harm not only a company’s reputation but also its financial health. With tightening regulations, stakeholders demanding transparency, and potential fines that can cripple even large organizations, it’s clear that having a robust Anti-Bribery Management System (ABMS) is no longer optional—it’s essential. ??[email protected] ??https://lnkd.in/gas6CW9J

In the wake of the largest single-day federal bribery takedown in the history of the Department of Justice, the New York City Housing Authority (NYCHA) is under scrutiny. A network of current and former NYCHA employees allegedly accepted bribes from contractors, compromising the procurement process and undermining NYCHA's mission to provide safe and affordable housing. This case is a stark reminder of the toxic organizational culture that can breed within public institutions, where nepotism, cronyism, and bureaupathology can thrive unchecked. The charges highlight the urgent need for a robust framework of internal controls to eliminate fraud, waste, and abuse. As a retired NYPD detective turned Certified Fraud Examiner and private investigator, I've seen firsthand the damage that such corruption can cause. It erodes trust, hampers efficiency, and ultimately harms those who rely on these institutions the most. The challenge now for NYCHA and city officials is to institutionalize a culture of transparency, accountability, and integrity. The 'trust but verify' principle must be at the heart of this transformation. It's not enough to lead by example; the tone at the top must be echoed throughout the organization. This case is a wake-up call for public institutions everywhere. The fight against corruption is ongoing, but with the right measures in place, we can ensure that our public institutions serve the public interest, not personal agendas. https://lnkd.in/g9d3XXhV #FraudExamination #InternalControls #EthicalConduct #toneatthetop

Valuable workshop on compliance and Fraud issues co-organized by ACFE Cyprus Chapter and CYPRUS INTEGRITY FORUM! Are you prepared? #acfecyprus #fraudawareness #compliance #ckazara #fraudlab

If you are in the WA public sector and work in a finance function, take a look at our Supplier Master Files – Better Practice Guide: https://lnkd.in/gPEj365c The guide aims to help the sector improve the management of supplier data to reduce the risk of fraud, corruption and error. Our financial and forensic audits across State and local government entities continue to identify shortfalls in the management of information about suppliers, including inadequate record keeping practices, and ineffective controls and weaknesses in data security. These shortfalls not only increase the risk of fraud and corruption occurring, they also limit the ability to detect it. #PublicSectorProcurement #GovernmentProcurement #ProcurementEducation #ProcurementBestPractices #procurementbestpractice #WAPublicSector