“In a cohort of Indian employees surveyed, 41% were prepared to indulge in unethical acts if required to improve their career growth.”
Corporate frauds have its roots way to the late 1700s when the East India Company came under the scanner for corrupt business practices and fraudulent financial reporting. The more recent Satyam scam in India caused the stocks and reputation of the company to collapse like a house of cards, leaving thousands of employees jobless, causing financial losses of about 100 billion INR, and creating a stir that the nation shall never forget.
The present corporate scenario with its increasing pressure on employees to meet deadlines and financial targets, coupled with the proliferating aspiration to ascend to the peak of their careers within a short time, has been the major driving force for the adoption of unethical and fraudulent practices in a workplace.
Corporate frauds encompass any such unethical or illicit activity which is carried out within the corporate space, such as passing on business critical information to outsiders, misuse of authority to indulge in anti-management practices, misappropriation of funds and much more.
Corporate frauds have its roots way to the late 1700s when the East India Company came under the scanner for corrupt business practices and fraudulent financial reporting. The more recent Satyam scam in India caused the stocks and reputation of the company to collapse like a house of cards, leaving thousands of employees jobless, causing financial losses of about 100 billion INR, and creating a stir that the nation shall never forget.
The present corporate scenario with its increasing pressure on employees to meet deadlines and financial targets, coupled with the proliferating aspiration to ascend to the peak of their careers within a short time, has been the major driving force for the adoption of unethical and fraudulent practices in a workplace.
Corporate frauds encompass any such unethical or illicit activity which is carried out within the corporate space, such as passing on business critical information to outsiders, misuse of authority to indulge in anti-management practices, misappropriation of funds and much more.
We are adept at handling corporate fraud pertaining to finances, corruption, and theft of company’s assets
Financial frauds
- Intentional obliteration or misrepresentation of accounts
- Alteration or tampering of accounting records
- Misuse and malicious application of accounting principles
- Misleading disclosures
Corruption
- Offering or receiving bribes to or from public and private officials
- Surreptitiously accepting favors, commissions and the like from suppliers or third parties
- Acquiescing to such activities executed by others around
Embezzlement
- Illegitimate vending of proprietary information to outsiders
- Theft of material assets
- Causing inappropriate payments
- Engaging in Ponzi schemes
"On a global level, 1 in 5 respondents was ready to adopt unethical practices to push their careers."
Some examples of corporate frauds that we handle
- Account takeover
- Application fraud
- Domain name scams
- Intellectual property fraud
- Mobile phone frauds
- Mortgage fraud
- Office supply fraud
- Frauds pertaining to personnel
- Cheque fraud
- False invoice scams
- Insurance scams
- Payment frauds
- False accounting
- Exploitation of assets and business information
IFF Lab’s offerings for mitigating and solving cases of corporate frauds
The Companies Act 2013 and the US Foreign Corrupt Practices Act have compelled companies to take preventive measures for regulating corporate frauds.
IFF – Lab’s experience in handling a wide range of corporate frauds, along with the acumen of its forensic experts enables us to help you in keeping a check on suspicious activities within your organization, as well as investigate any such instances of frauds that may have occurred.
We leverage our cyber and digital forensic skills to help nab the perpetrators by forensic auditing of financial documents, analyzing the computers of employees, conducting interviews, using analytics to decode patterns, conducting forensic examinations to verify handwritings, signatures etc.
Our professionals use forensic accounting to determine if the suspicious financial transactions are in accordance with different auditing, accounting, and legal regulations, and thus conclude if any fraudulent activity has taken place.
IFF Lab’s offerings for mitigating and solving cases of corporate frauds
The Companies Act 2013 and the US Foreign Corrupt Practices Act have compelled companies to take preventive measures for regulating corporate frauds.
IFF – Lab’s experience in handling a wide range of corporate frauds, along with the acumen of its forensic experts enables us to help you in keeping a check on suspicious activities within your organization, as well as investigate any such instances of frauds that may have occurred.
We leverage our cyber and digital forensic skills to help nab the perpetrators by forensic auditing of financial documents, analyzing the computers of employees, conducting interviews, using analytics to decode patterns, conducting forensic examinations to verify handwritings, signatures etc.
Our professionals use forensic accounting to determine if the suspicious financial transactions are in accordance with different auditing, accounting, and legal regulations, and thus conclude if any fraudulent activity has taken place.
Corporate frauds. Decoded.
- Identify various sources of digital evidence, and capture images suitable for forensic analysis from various data sources
- Secure preservation of all digital evidence through the enforcement of stringent custody rules
- Recovery of obliterated data from digital storage devices
- Analysis of evidence and data and their transcription
- Preparation of comprehensive reports and opinions
Online Harassment / Cyber Stalking
It could be quite emotionally exhausting to have someone stalk and harass you in the cyber world. Often law enforcement agencies do not have the know-how and training to investigate such cases, and that is where IFF Lab comes into the picture. Our team of investigators, forensic analysts, hacking professionals, and litigation support team, help in the establishment of legitimate evidence that could be taken to the court of law or be used to initiate a lawsuit.