Anti Fraud
What is the definition of fraud?
How can fraud impact your company?
A firm may suffer from financial losses, reputational harm, and legal repercussions because of fraud. Fraudulent actions can result in financial statement misrepresentation, which can deceive lenders, investors, and other stakeholders and eventually impair the company's long-term viability and financial stability. Fraud can harm a company's reputation as well, resulting in a decline in customer confidence and unfavorable press coverage.Moreover, fraud can have serious legal and regulatory repercussions, such as fines, penalties, and legal costs, all of which can negatively impact a company's financial success.
Fraud can undermine a company's production and performance by fostering a culture of mistrust and lowering employee morale.
How can Pideeco help you with Anti Fraud?
To prevent damage to your company, our experts can help you to:- Assess your anti-fraud procedures and deliver a profound gap-analysis.
- Create and implement a mitigating action plan for your anti-fraud procedure gaps.
- Navigate the regulatory landscape concerning fraud.
- Draft or improve your anti-fraud policies and procedures.
- Rigorously investigate any suspicious fraud cases within your company and advise you on the next steps to take.
- Adopt a risk-based approach that guarantees the prevention and detection of fraud risks for your company.
- Train your staff members on anti-fraud procedures also by highlighting past events within the sector.
Let us know how we can help! We'll get back to you lightning quick!
You'd rather talk face to face? Complete the form and schedule a meeting
As part of their KYC procedure, financial firms submitted to AML regulation must list...
Customer due diligence (CDD) is the process of verifying the identity of a customer o...
What is MiFID II and MiFIR?The Directive 2014/65/EU (hereafter the "Directive"...
Businesses and financial institutions continuously face risks and obligations, such a...
What are the dangers of cryptocurrencies?Cryptocurrencies are virtual or digital curr...
Anti-money laundering (AML) is an important aspect of the financial industry because ...
What is the Common Reporting Standard (CRS)?Following the 2010 US Foreign Account Tax...
Fraud is a significant risk for businesses, with technological advancements leading t...
The financing of terrorism is defined as the distribution or collection of funds, in ...
Fighting against dumping and bribery is required for any company. Suspicions of corru...
Financial institutions must be able to identify and verify the identity of their cust...
Faced with the outbreak of highly targeted attacks, risk management and information s...
Financial markets have become increasingly global, giving rise to new trading platfor...
What is FATCA?FATCA is the US Foreign Account Tax Compliance Act, enacted in 2010 to ...
What is an embargo?As a result of globalization, businesses are more likely to face t...
Since 2007, the technological development and the growth of electronic and mobile pay...
Insider dealing (the term "insider trading" is also frequently used) arises w...
We'll present you the technology to stop money laundering and terrorist financing
Europol defines Financial Crime as "illegal acts committed by an individual or a group of individuals to obtain a financial or professional advant...
Return to financial crime
Considered a strong deterrent against financial crime, AML fines seem to be little more than symbolic slaps on the wrist for financial institutions with vast pockets. With trillions of dollars being freely laundered every year and ambiguous structural changes required t...
Read more Author What else ?