18.05.2016

On 18 May 2016, the AEB Safety, Health, Environment & Security Committee held an open event “Corporate investigations: how to avoid mistakes”.  

Corporate fraud has always and will always be an issue for companies regardless of their size, activity, history, corporate culture, internal controls or location. During recessions this fraud often evolves faster than companies can adapt to new business conditions. At this stage, fraud often becomes obvious, and management asks itself – what to do next? Unfortunately, decisions are often made on an uninformed or emotional basis, which does not solve the problem, but rather, makes it worse for the business.

At the event, anti-fraud specialists explained in practical terms what to do in the early stages of a fraud, which mistakes to avoid, how to correctly organise an internal investigation, how to collect and store evidence materials, how to evaluate legal outcomes and cases, how to interview staff involved in an instance of fraud and what instruments were available during investigations and finally how to prioritise ongoing tasks and business continuity during an investigation. The event was moderated by Dmitry Budanov, Chairman of the Security Subcommittee, CEO, Elite Security Holding Company.

L–R: Dmitry Budanov, Chairman of the Security Subcommittee, CEO, Elite Security Holding Company; Sergey Urusov, Regional Security Director, Russia & CIS, JTI; Tim Bobak, Senior Investigator & Analyst, IRIS.