India

Fraud and misconduct investigation 

Fraud, bribery, corruption, Misconduct investigation

 

Accounting entries made on holidays could typically signify risk of bribery and corruption or even funds embezzlement. This is one of the most common types of frauds committed at organizations.


We have investigated over 400 fraud, misconduct and non-compliance cases ranging from unveiling simple frauds to complex multi layer, multi-party, multi-location frauds causing significant financial, operational and reputational losses to organizations. We can unearth the quantum of fraud, the parties involved in perpetrating the fraud as well as the modus operandi. Our advanced forensic technology lab helps us gather this information efficiently and effectively, facilitating analysis to indicate red flags and presenting it in a legally approved format. Wherever relevant, our investigations are aided by covert field operations.


We can also assist clients understand the systemic loop holes that need to be plugged to prevent such incidents in future.


Our approach for fraud detection and prevention is customized keeping in mind the client’s operations and sensitivity of information involved. We leverage our key strengths viz., exposure to global frauds scenarios, best practices in forensic investigations and qualified professionals with multi-domain experience to successfully conclude every engagement.

We recently helped a client analyze financial statement irregularities and prepare restated financial statements. Click on case study to read more.

 

Case Study

Our client, a leading Indian information technology giant, suspected accounting irregularities and appointed us to investigate the matter. We gathered facts and circumstances regarding the potential accounting misstatements and ascertained the magnitude of the accounting adjustments.

 

We used a combination of detailed investigations and forensic data analysis to gather these facts and secured evidence through electronic discovery and digital evidence recovery.

 

It was discovered that certain members of the senior management had colluded to manipulate the financial accounts. We unearthed evidence to identify the perpetrators and helped the company restate its financial statements for the entire duration in which the mis-accounting was carried out.

 

In another instance, we helped one of India’s largest consumer goods companies uncover financial irregularities in the outdoor media deals undertaken with their agency. The client suspected malpractice as its costs for outdoor advertising remained unnaturally high.

 

We conducted an internal forensic review of all financial transactions specific to the outdoor media deals undertaken by the client in the past two years. Our key discoveries included:

 

  • The outdoor media vendors (who the agency was using) was operating its business through shell companies
  • Kickbacks were paid by the outdoor media vendors to select employees of the agency
  • Cash was generated by the outdoor media vendors by making payments to third parties against fictitious bills
  • Discounts provided to the agency was not passed on to our client.

 

Through these discoveries we were able to establish the modus operandi between the agency and the outdoor media vendors. Subsequent focused investigations on select employees of the agency helped unearth the nexus between the agency and the outdoor media vendors.

 

The client was thus able to take action on the agency based on the findings of our investigation and subsequently reduce its outdoor advertising costs.

 

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Our Services

  • Anti-Money Laundering and Know Your Customer
  • Competition Economics Services
  • Counterparty Due Diligence
  • Cyber Incident Response Framework
  • Forensic Law channel Brochure
  • Fraud Risk Management Brochure
  • Forensic Data Analytics Framework (PDF, 57 KB)
  • Forensic Generic Brochure (PDF, 202 KB)
  • Forensic Services
  • GMP Compliance Services flyer
  • How technology can assist legal practitioners
  • License Compliance Advisory (PDF, 268 KB)
  • Verification Services (PDF, 58 KB)