DueDiligence360™ Financial Due Diligence Services in CRI Group Turkey
For Investors— Our DueDiligence360™ financial due diligence services are methodically designed to benefit investors considering all types of acquisitions in Turkish companies, including shareholding, full company acquisitions, and Turkish Citizenship by Investment programs. These services also provide lending banks with the critical information necessary to support their lending decisions for acquisitions.
In acquisition due diligence, our highly experienced teams thoroughly investigate the target company’s information to identify potential issues that could impact the deal. While focusing on the opportunities and strengths of the target company, our primary aim is to identify risks and enhance the acquirer’s position during negotiations over price and SPA terms.
Our DueDiligence360™ financial due diligence teams collaborate closely with industry specialists in tax, legal, and M&A groups to deliver a comprehensive, integrated service. We often integrate commercial due diligence from our consulting colleagues. Additionally, we leverage our global network, utilising specialists from our international offices, especially for cross-border transactions.
Expanding Scope with CRI Group 3PRM™ Third-Party Risk Management:
In today’s business climate, organisations must review and reassess their third-party relationships. CRI Group’s 3PRM™ Third-Party Risk Management program offers an effective strategy to vet outside partnerships and mitigate potential risks.
Our DueDiligence360™ services extend to comprehensive third-party risk management, benefiting company owners considering a sale or partnership, particularly when multiple investors or partners are involved.
By engaging our 3PRM™ due diligence services, organisations can identify and address financial issues that may be seen as problems by potential investors or partners, allowing them to take timely action to eliminate or mitigate these issues.
All potential bidders or partners will have access to the same comprehensive and objective information contained in our DueDiligence360™ reports during the sale or partnership process. This transparency enables bidders to thoroughly understand the financial aspects of the target business and submit high-quality, fully comparable bids.
Investigative Due Diligence for Turkish Citizenship by Investment:
In addition to traditional financial due diligence, we offer DueDiligence360™ investigative due diligence services for individuals seeking Turkish Citizenship by Investment. Our team conducts comprehensive background checks, verifies financial stability, and ensures compliance with Turkish regulations, providing a secure and reliable path to citizenship.
Our multidisciplinary approach ensures that all aspects of the investment are thoroughly vetted, mitigating risks and safeguarding our client’s interests throughout the process.
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Kuwait’s Degree Crackdown: A Wake-Up Call for Employee Screening
Kuwait’s Degree Crackdown: A Wake-Up Call for Employee Screening – Act Now or Risk Consequences
Kuwait’s proactive steps to validate the academic qualifications of its government employees signals a broader trend in addressing the challenges of fake academic credentials. This measure is crucial, particularly considering recent global incidents of degree fraud. A striking example is the South Florida fake nursing diploma scandal, where over 7,600 fraudulent diplomas were issued by three nursing schools, leading to charges against more than 25 individuals involved in this wire fraud scheme. These fraudulent credentials provided a shortcut for individuals to qualify for and pass nursing board exams, subsequently gaining employment in the healthcare sector. Each defendant in this case faces up to 20 years in prison.
Kuwait Case Highlights
Kuwait’s Civil Service Commission’s extensive effort to verify academic degrees held by government employees reflects a significant step in ensuring integrity and competence within the public sector. This comprehensive initiative, covering both Kuwaiti nationals and expatriates since 2000, is a response to growing concerns about the prevalence of fake degrees.
Dr. Hamad Al-Matar, chairman of the parliamentary Education, Culture, and Guidance Affairs Committee, highlighted the severity of the issue when he revealed that an investigation had uncovered 142 Kuwaitis in public institutions holding forged certificates from various Egyptian universities. This discovery underscores the widespread nature of the problem and the government’s commitment to addressing it.
The consequences of detecting a fake degree are severe, with legal actions including revocation of employment for those found guilty. This crackdown on fake degrees is part of Kuwait’s broader strategy to strengthen the credibility of its workforce and maintain high standards in its educational and professional sectors. The implications of this initiative are significant, given that foreigners make up a considerable portion (3.2 million) of Kuwait’s population. By implementing these measures, Kuwait is setting a precedent in the region for maintaining the integrity of academic qualifications and professional standards.
Kuwait’s Degree Crackdown underscores the critical need for rigorous employee screening and credential verification. They serve as a stark reminder of the risks posed by unverified academic claims, which can lead to serious consequences for businesses and institutions. This global trend of fake degree scandals accentuates the importance of diligence in the verification process for educational institutions and businesses hiring new employees.
How Employee Background Screening Can Benefit Your Businesses
Employee background screening offers several corporate benefits that contribute to the overall health and success of an organization. Here are six key advantages:
1. Verification of Educational Credentials
Conducting thorough background checks on educational credentials is a crucial defense against the hiring of individuals with fake degrees. This process includes verifying the authenticity of diplomas and transcripts directly with educational institutions. The verification confirms the legitimacy of the academic qualifications and ensures the credibility of the skills and knowledge the candidate claims to have. This is particularly important in fields where specialized knowledge is critical to job performance and can mitigate risks associated with underqualified personnel making critical decisions or performing complex tasks.
2. Ensuring Qualified Personnel
By verifying academic achievements, companies ensure that their staff possess the requisite education and training for their roles. This is essential in industries like healthcare, engineering, and finance, where specialized knowledge is directly linked to job performance and safety. Qualified personnel are more likely to understand the complexities of their roles and perform them competently, reducing the risk of errors and improving overall productivity.
3. Upholding Industry Standards and Compliance
Many industries are regulated by laws that require employees to have certain qualifications. For instance, the healthcare sector often requires specific degrees and certifications. Background checks help ensure that employees meet these requirements, thereby maintaining compliance with industry regulations. Failure to do so can result in legal penalties, loss of licenses, and damage to the company’s credibility.
4. Reducing Risks of Malpractice and Liability
Employing individuals with fraudulent qualifications in critical roles can lead to professional malpractice, especially in fields like medicine, law, and engineering. Inadequate qualifications can result in poor decision-making, leading to accidents, legal suits, and financial losses. Background screening minimizes this risk by ensuring employees have the genuine qualifications they claim, protecting the company from potential liabilities and lawsuits.
5. Maintaining Company Reputation
A company’s reputation can be severely damaged if it’s discovered that employees have fake degrees. Such revelations can undermine public trust and confidence in the organization. Rigorous background screening processes help in maintaining a workforce with legitimate qualifications, thus preserving the company’s reputation for integrity and reliability. This is especially crucial in today’s digital age, where information spreads rapidly online.
6. Long-term Cost Savings
The initial investment in comprehensive background screening can lead to significant long-term savings. Hiring employees with fake degrees can result in poor job performance, leading to costly mistakes, increased training costs, and higher employee turnover. Effective screening reduces the likelihood of such hires, thus saving the company from potential financial losses and the cost of rehiring and retraining new employees.
Know Your Team Inside-Out with EmploySmart™
The recent initiative by Kuwait’s Civil Service Commission to meticulously scrutinize the educational certificates of all government employees, dating back to 2000, is a significant move in combating the issue of forged degrees. In this context, EmploySmart™ by CRI Group™ becomes a crucial tool for businesses looking to ensure the authenticity of their employees’ qualifications. Our service is designed to provide an in-depth and comprehensive screening of potential and current employees. Here’s how EmploySmart™ can help businesses in the wake of the Kuwait case:
- In-depth Verification: EmploySmart™ goes beyond surface-level checks to offer a comprehensive verification process that delves into every aspect of a candidate’s background. This includes an exhaustive analysis of educational credentials, ensuring the degrees and certifications listed are legitimate and conferred by accredited institutions. We extend our scrutiny to employment history, meticulously verifying past employments, job titles, and work performances. Professional references are not just contacted; they are thoroughly interviewed to glean insights into the candidate’s work ethic, skills, and behaviors. This all-encompassing approach ensures that every team member is qualified on paper and brings genuine expertise and experience to their role.
- Compliance Assurance: EmploySmart™ provides a crucial service in ensuring that your hiring processes align with legal and regulatory frameworks. Drawing lessons from the Nazaha case in Kuwait, we understand the importance of adhering to legal standards in hiring practices. Our service meticulously checks for compliance with local, national, and international employment laws, helping you avoid the legal pitfalls and liabilities arising from non-compliant hiring practices. This includes ensuring adherence to data protection laws during the background check process, thereby safeguarding both the candidate’s rights and the company’s legal standing.
- Risk Mitigation: In today’s complex business environment, mitigating risk is a top priority. EmploySmart™ plays a pivotal role in this aspect by rigorously vetting potential hires for falsified credentials. The threat posed by unqualified personnel in critical roles can be immense, particularly in sectors where specialized knowledge and skills are paramount. EmploySmart™’s diligent background checks protect your operations from the risks associated with fraudulent qualifications and preserve public trust and confidence in your organization.
- Global Reach with Local Expertise: Recognizing that the modern workforce is increasingly global, EmploySmart™ offers an extensive range of background checks that encompass both local and international scopes. This dual approach ensures that their background can be thoroughly vetted no matter where a candidate has studied, worked, or lived. EmploySmart™ combines global reach with local expertise, understanding different countries’ nuances and legal requirements. This makes it an invaluable resource for businesses operating in a global marketplace, ensuring that their workforce meets the highest standards of integrity and qualification.
- Customized Screening Packages: EmploySmart™ understands that different roles within a company require varying degrees of scrutiny. To address this, we offer bespoke screening packages tailored to the specific requirements of each position. Whether it’s a high-level executive role requiring in-depth financial history checks or a technical position needing detailed verification of professional certifications, EmploySmart™’s flexible approach ensures that each role receives the appropriate level of background checking. This customization enhances the screening process and ensures that resources are efficiently utilized.
- Protecting Your Brand: In an era where a company’s reputation can be its most valuable asset, EmploySmart™ plays a vital role in safeguarding your brand’s integrity. By ensuring that your team is composed of individuals with verified and authentic backgrounds, EmploySmart™ helps maintain your organization’s reputation for reliability and trustworthiness. In a digital age where information is rapidly disseminated, ensuring the authenticity of your workforce is not just about compliance or risk mitigation; it’s about preserving the hard-earned trust and respect of your customers and the public.
Act Now for a Safer Tomorrow
In a world where the cost of hiring the wrong person can be enormous, both financially and reputationally, EmploySmart™ is not just a tool; it’s an essential component of your HR strategy. In the wake of Kuwait’s degree crackdown, let EmploySmart™ be your partner in building a trustworthy and competent workforce.
Take the Step Towards Transparency
Don’t let your company be tarnished by the risks associated with inadequate screening processes. Make the smart choice with EmploySmart™ and set a new standard in employee recruitment. Reach out to us at CRI Group™ and start a conversation about how EmploySmart™ can transform your hiring process and contribute to the long-term success of your business.
The Rise in Insurance Fraud by Individuals
Insurance fraud is a growing concern worldwide, with individuals resorting to elaborate schemes to deceive insurers and cash in on substantial payouts. Among the many alarming cases that have come to light, one particular incident from 2015 stands as a stark example of the devastating consequences of such deceit. California resident Ali Elmezayen orchestrated a tragic car accident that claimed the lives of his two autistic children and almost drowned his wife.
Unbeknownst to the authorities, this horrifying event was staged as part of an elaborate insurance fraud plot, leading to a $260,000 payout. In a heart-wrenching twist, the ill-gotten funds were used to purchase real estate in Elmezayen’s native Egypt and a boat, leaving behind a trail of deceit and sorrow. This gripping case highlights the urgency in addressing the rise in insurance fraud by individuals and the need for vigilance in safeguarding the integrity of insurance systems.
What Is An Insurance Fraud?
Insurance fraud refers to the intentional deceit carried out against an insurance company or by an insurance agent, with the aim of gaining financial benefits. These illicit acts can be committed by policyholders, applicants, third-party claimants, and even insurance brokers and providers. Some common instances of insurance fraud involve “padding” or exaggerating claims, providing false information on insurance applications, making claims for injuries or damages that never happened, and staging accidents.
Estimates from the Federal Bureau of Investigation (FBI) indicate that insurance fraud costs the United States over $40 billion annually. This staggering figure underscores the severity of the issue and highlights the urgent need to address and combat fraudulent activities within the insurance industry.
Health insurance companies have faced numerous instances of insurance fraud by individuals. Some individuals have submitted false or exaggerated medical claims, forged medical records, or intentionally misrepresented their medical conditions to obtain insurance benefits fraudulently. Such fraudulent activities have cost health insurance companies millions of dollars annually.
Consequences of Insurance Fraud by Individuals for Companies in the USA
Insurance fraud by individuals can have far-reaching consequences for insurance companies in the USA. For example:
Financial Losses
Insurance fraud places a significant financial burden on companies as they end up paying for fraudulent claims that were deceitfully submitted. These losses can add up quickly, impacting the company’s bottom line and overall profitability. The funds that could have been invested in growth or development initiatives now must be diverted to cover fraudulent claims, hampering the company’s financial stability and growth prospects.
Reputational Damage
Insurance fraud cases can severely tarnish a company’s reputation, eroding the trust and confidence of customers, potential investors, and business partners. The negative publicity and association with fraudulent activities can lead to a loss of loyal customers and a damaged brand image. Rebuilding trust after reputational damage can be a challenging and time-consuming process, impacting the company’s ability to attract new customers and retain existing ones.
Legal Consequences
Companies found to be involved in insurance fraud may face serious legal repercussions. They may be subject to hefty fines imposed by regulatory authorities, endure costly legal battles, and even face criminal charges against the individuals responsible. These legal consequences can result in significant financial losses and damage to the company’s reputation.
Increased Insurance Costs
Insurance companies often pass on the costs of insurance fraud to their customers through increased insurance premiums. The rise in premiums affects honest policyholders who must bear the burden of fraudulent activities committed by a few individuals. Higher insurance costs can lead to decreased customer satisfaction and potential customer attrition.
Lower Employee Morale
Insurance fraud cases can create an atmosphere of distrust and suspicion within the company, negatively impacting employee morale. Employees may feel demotivated when they witness fraudulent activities going undetected or not adequately addressed. Lower employee morale can result in reduced productivity, decreased job satisfaction, and an increased likelihood of employee turnover.
Business Shutdown
For smaller or financially vulnerable companies, the cumulative impact of widespread insurance fraud can be devastating. The financial losses and reputational damage may become insurmountable, leading to business closure. Insurance fraud-induced business shutdowns can have severe implications for employees, customers, and other stakeholders.
Regulatory Scrutiny
Companies involved in insurance fraud may face heightened regulatory scrutiny. Regulatory authorities may closely monitor their operations, leading to additional compliance requirements and the diversion of resources toward addressing regulatory concerns. The increased scrutiny can further strain the company’s finances and impede its day-to-day operations.
Decreased Shareholder Value
Insurance fraud can negatively affect a company’s stock value and shareholder confidence. Shareholders may lose faith in the company’s management and decision-making processes, leading to a decrease in the value of their investments. The decline in shareholder value can have a cascading effect on the company’s ability to raise capital and attract new investors.
Opportunity Costs
Dealing with the impact of insurance fraud can divert the company’s attention and resources from other strategic opportunities and initiatives. The focus on investigating fraudulent activities and implementing measures to prevent future fraud may result in missed business opportunities or delayed projects.
Difficulty in Attracting Talent
Companies tainted by insurance fraud may struggle to attract and retain top talent. Potential employees may be hesitant to join an organization with a damaged reputation, fearing the impact on their own professional standing. Difficulty in recruiting skilled and qualified employees can hinder the company’s growth and competitiveness in the market.
CRI Group™: Mitigating Insurance Fraud Risks for Businesses
Insurance fraud by individuals poses significant challenges for businesses, leading to financial losses, reputational damage, and legal repercussions. To combat this pervasive issue, CRI Group™ offers a comprehensive suite of services designed to help businesses avoid insurance fraud and protect their interests.
Fraud Risk Assessment & Fraud Risk Management
CRI Group™ provides businesses with expert Fraud Risk Assessment and Fraud Risk Management services. By conducting thorough assessments, CRI Group™ identifies potential vulnerabilities in a company’s operations and systems that could be exploited by fraudulent individuals. Through this proactive approach, businesses can implement tailored risk management strategies to prevent insurance fraud before it occurs.
CRI™ Corporate Accountability Services
CRI™ Corporate Accountability services help businesses establish robust compliance and accountability mechanisms. By ensuring meticulous records of due diligence actions, risk assessments, and corrective measures, CRI Group™ empowers businesses to demonstrate their commitment to ethical practices and adherence to regulatory requirements. This transparency serves as a strong deterrent to potential fraudsters who may seek to exploit loopholes in a company’s processes.
Insurance Fraud Investigations Services
CRI Group™ offers specialized Insurance Fraud Investigations services to help businesses detect and address suspected fraudulent activities promptly. Highly skilled investigators with extensive experience in insurance fraud matters work diligently to uncover evidence, gather information, and identify potential fraud schemes. Timely and thorough investigations enable businesses to take appropriate actions to prevent further losses and protect their reputation.
Why Choose CRI Group™ for Insurance Fraud Investigations
CRI Group™’s service offerings are designed to empower your organization to combat insurance fraud by individuals effectively. With our comprehensive solutions, you can proactively detect and prevent fraudulent activities, safeguarding your financial health, reputation, and business integrity.
Fraud Risk Assessment & Fraud Risk Management
Our certified fraud examiners conduct a thorough review and assessment of your current fraud risk management program. We objectively evaluate your policies, procedures, controls, reporting functions, responsibilities assignment, and investigative requirements to identify vulnerabilities and susceptibility to fraud within your organization.
Tailored Fraud Prevention Measures
Based on the assessment findings, we work closely with your team to develop and implement customized fraud prevention and investigation measures. Our anti-fraud controls are designed to strengthen your organization’s defenses against potential fraudulent activities, reducing the risk of financial losses and reputational damage.
Effective Detection Methods
CRI Group™ defines detection methods that encompass a comprehensive range of approaches. From internal audits and suspicious transaction reporting to whistle-blower strategies and program enforcement, our solutions empower you to detect and address potential fraud incidents proactively.
Due Diligence and Corporate Accountability
Our due diligence services extend beyond standard commercial or financial analyses. CRI® Group™ specializes in Integrity Due Diligence, which provides reliable and pertinent, but raw, information. We ensure complete independence in our research, relying as little as possible on information provided by the researched subject, thereby reducing risks associated with FCPA and UK Bribery Act compliance.
Informed Business Decisions
CRI Group™ supports your informed decision-making process by offering in-depth research and analysis. Our due diligence services allow you to make confident choices when pursuing takeovers, mergers, or business relations. With a focus on objectivity, our assessments provide valuable insights to minimize risks.
Diverse Range of Investigations
CRI Group™ handles a comprehensive range of investigations related to insurance fraud. Our expert investigators conduct factual claims investigations, background checks, and asset searches. We specialize in medical fraud investigations, workers’ compensation, injury, liability, and property claims.
Thorough and Professional Approach
With a commitment to professionalism and attention to detail, our investigators gather evidence, conduct interviews, and verify claims to uncover the truth behind suspicious activities. Our thorough investigations help you take prompt and effective actions against fraudulent individuals.
Trusted Global Partners
CRI Group™ serves as a trusted partner to businesses and institutions worldwide. Our dedicated team works with energy, insight, and care, ensuring a positive experience for all parties involved, including clients, reference providers, and candidates.
Proven Methodologies and Expertise:
Effective Solutions Based on Experience:
With a focus on integrity, CRI Group™ employs proven methodologies in our investigative and due diligence services. Our experienced team delivers reliable information while maintaining complete independence, ensuring you receive accurate insights to make well-informed decisions.
Mitigating Fraud Risks
We help you implement anti-fraud controls, making it challenging for potential fraudsters to exploit weaknesses within your organization. Our detection methods, such as internal audits, suspicious transaction reporting, and whistle-blower strategies, provide early warnings to prevent fraudulent activities.
Unbiased Fraud Risk Evaluation
Our certified fraud examiners bring objective and independent expertise to auditing your fraud prevention program. Through our unbiased assessments, we provide valuable insights to strengthen your organization’s defenses against fraud.
CRI Group™ stands out as a leading provider of fraud investigations and due diligence services, offering objective expertise, comprehensive assessments, advanced detection methods, and a commitment to integrity. As your trusted partner, we help your organization fortify its fraud prevention program and make informed decisions, reducing risks and ensuring compliance with legal requirements. With our experienced team and proven methodologies, CRI Group™ empowers your business to navigate the complex landscape of fraud risk management successfully.
HR Summit & Job Fair 2023 Exhibition – Islamabad
Corporate Research & Investigations CRI Group™ cordially invites you to attend Pakistan’s HR Summit being held on May 27th, 2023, at Pak-China Friendship Center Islamabad!
We believe Pre-Employment Screening & Background Verification concepts are an inescapable recruitment tool for your organisation if you are looking to minimise risks surrounding a bad hire.
Join our vision to protect your business’s sustainability and welfare against unqualified contenders!
HR Summit & Expo (HRSE) KSA 19 – 20 June 2023 – Riyadh
Corporate Research and Investigations is a proud sponsor & exhibitor at the upcoming HR Summit & Expo (HRSE) being held in Riyadh this June 2023.
We cordially invite you to visit us at the summit and explore various opportunities we offer to Recruit Smart with EmploySmart™.
ACFE FRAUD CONFERENCE MIDDLE EAST 8 – 9 MAY 2023 | DUBAI
As a Platinum Sponsor of the conference, we aim to showcase our expertise to fraud prevention professionals and demonstrate our commitment to leading with diligence and promoting ethical business practices in the region.
The CRI Group™ enters Saudi Arabia
We are now open in the holy state of Saudi Arabia
The CRI Group™, a global leader in Anti-Corruption, Compliance, Fraud Risk Investigations, and Third-Party Risk Management, has extended its reach into Riyadh, Kingdom of Saudi Arabia.
The CRI Group safeguards some of the world’s leading multinational organizations, by investigating the financial viability, business history, legal compliance, and integrity levels of third parties, outside partners, suppliers and customers seeking business affiliations with their clients.
“The world of business is getting increasingly risky,” says Zafar I. Anjum, CRI Group™ Chief Executive Officer. “From dishonest employees to rogue business partners, successful business organisations should assume that they are potential targets of corporate crime, and subsequently develop strategies to safeguard their operations. We are very pleased to be welcomed and accepted by the Ministry of Investment, Kingdom of Saudi Arabia, and look forward to working alongside the esteemed organizations that intend to expand their presence and investment in the Kingdom.”
A global network of professionals
The CRI Group has earned a credible reputation worldwide by successfully deterring, detecting, and investigating crimes against businesses. This success is the outcome of having a global network of professionals specially trained in business and third-party due diligence and Anti-Corruption accredited certification by CRI Group’s independent UKAS accredited certification body.
The CRI Group operates one of the largest multi-national Third-Party Risk Management teams the industry has to offer, employing a network of Certified Fraud Examiners, Compliance Experts, and Research Consultants strategically positioned across five continents and who possess an impressive array of industry backgrounds.
“CRI Group experts come from a variety of professions and possess industry knowledge and experience serving clients in the banking, investments, international finance, government, and public and privately held multinational business sectors,” says Mr. Anjum. “Our specialized capabilities and multinational resources enable us to perform in-depth investigations and research across nearly every corner of the globe. This worldwide knowledge base has set CRI Group apart as a leader in global investigative research for more than 32 years.”
CRI Group’s worldwide offices
The company currently maintains offices in the United Arab Emirates, the United Kingdom, the United States of America, Pakistan, Malaysia, Singapore, and Turkey, effectively serving its broad client base by providing professional services covering the Middle East, North Africa, South Asia, Europe, and the Asia Pacific.
CRI Group welcomes inquiries from KSA businesses. To reach Zafar I. Anjum, CRI Group CEO, call +971 50 9038184, +966 54 6932838 or +44 588 454959, or email zanjum@crigroup.com
About the CRI Group
Based in London, CRI® Group works with companies across the Americas, Europe, Africa, Middle East and Asia-Pacific as a one-stop international Risk Management, Employee Background Screening, Business Intelligence, Due Diligence, Compliance Solutions and other professional Investigative Research solutions provider.
CRI Group™ services such as DueDiligence360™, 3PRM™ and EmploySmart™ can significantly help organizations deal with bribery and corruption, third-party risk management, noncompliance with the regional and international regulatory framework and malpractice.
CRI™ also holds BS 102000:2013 and BS 7858:2012 Certifications, is an HRO certified provider and partner with Oracle, and it is a licensed and incorporated entity of the Dubai International Financial Center (DIFC) and Qatar Financial Center (QFC).
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Mission and Vision of the CRI Group
- CRI® mission is to safeguard the corporate world by detecting and exposing those elements that can cause irreparable harm to a business
- We stand firm against outside forces that, through corruption, collusion, coercion and fraud, can cause financial, organizational, reputational and legal harm to our global clients
- We stand out as the preeminent provider of specialized investigative services that enable our clients to exhibit the highest standards of business integrity, ethics and behavior
About ABAC™
In 2016, CRI Group™ launched Anti-Bribery Anti-Corruption (ABAC™) Center of Excellence – an independent certification body that provides education and certification services for individuals and organizations on a wide range of disciplines and ISO standards, including ISO 31000:2018 Risk Management- Guidelines; ISO 37000:2021 Governance of Organisations; ISO 37002:2021 Whistleblowing Management System; ISO 37301:2021 (formerly ISO 19600) Compliance Management system (CMS); Anti-Money Laundering (AML); and ISO 37001:2016 Anti-Bribery Management Systems ABMS.
ABAC™ offers a complete suite of solutions designed to help organizations mitigate the internal and external risks associated with operating in multi-jurisdiction and multi-cultural environments while assisting in developing frameworks for strategic compliance programs.
Contact ABAC™ for more on ISO Certification and training.
FIFA World Cup highlights Africa’s sad story of Corruption
The action on the football field at the recently concluded 2022 FIFA World Cup in Qatar bore the strong imprint of African migration — and the stink of corruption. France’s Kylian Mbappe, one of the tournament’s best scorers and an early contender for best player, was born to a Cameroonian father, as was his teammate Aurélien Tchouaméni. Cody Gakpo, another top scorer from the Netherlands, was born to a Togolese father. The tournament’s youngest player, 18-year-old Youssoufa Moukoko, plays for Germany but was born in Cameroon, says a report on qz.com
In the 13th match of the World Cup, the Swiss striker Breel Embolo gently held his hands up after scoring the winning goal against Cameroon. Stopping himself from celebrating was a sign of respect: He had just scored his first-ever World Cup goal against the country where he was born, and where his father still lives.
Embolo was one of 136 soccer players in Qatar representing countries other than the ones in which they were born. At this World Cup, an astonishing 16% of players crossed borders to pursue their sport, shining an even stronger spotlight on the dynamics of immigration in international sport, says qz.com. And you can certainly add corruption here as a key factor driving the immigration of these players, with the biggest loser being Africa.
How Africa suffers due to corruption
About half of the players on France’s national team were of African descent. A story on ghanaweb.com says corruption is rife in Africa when it comes to national team call-ups, and merits are not taken into account.
Star French player Kylian Mbappe’s father Wilfried bears this out: “At first, I wanted my son to play for Cameroon but someone at the Cameroon Football Federation charged a sum of money that I didn’t have to make him play. The French didn’t charge anything.”
Can you imagine the wealth of football stars African nations would have if they didn’t ask players to pay to play for their football teams? Imagine what would have happened to Ronaldo and Messi if they were born in Africa! African nations can never hope to win big until corruption is eliminated there.
Corruption costs both huge amounts of money and precious lives to countries all over the world. Corruption and bribery impact and cause severe harm to businesses, including causing financial loss, dire legal consequences, brand damage, damage to an organisation’s reputation, and impedes sustainable development.
CRI® Group experts have years of experience and have been trained to provide your business with bespoke advice that fits your organisation’s needs. Implement preventative measures in your workplace today and guide your team to an ethical and corruption-free way of working.
Who is CRI Group™?
Based in London, CRI Group™ works with companies across the Americas, Europe, Africa, the Middle East, and Asia-Pacific as a one-stop international Risk Management, Employee Background Screening, Business Intelligence, TPRM, Due Diligence, Compliance Solutions, and other professional Investigative Research solutions provider. We have the largest proprietary network of background-screening analysts and investigators across the Middle East and Asia. Our global presence ensures that no matter how international your operations are, we have the network needed to provide you with all you need, wherever you happen to be. CRI® Group also holds BS 102000:2013 and BS 7858:2012 Certifications, and is an HRO-certified provider, and partners with Oracle.
In 2016, CRI Group™ launched the Anti-Bribery Anti-Corruption (ABAC™) Center of Excellence – an independent certification body that provides education and certification services for individuals and organisations on a wide range of disciplines and ISO standards, including ISO 31000:2018 Risk Management- Guidelines; ISO 37000:2021 Governance of Organisations; ISO 37002:2021 Whistleblowing Management System; ISO 37301:2021 (formerly ISO 19600) Compliance Management system (CMS); Anti-Money Laundering (AML); and ISO 37001:2016 Anti-Bribery Management Systems ABMS. ABAC™ offers a complete suite of solutions designed to help organisations mitigate the internal and external risks associated with operating in multi-jurisdiction and multi-cultural environments while assisting in developing frameworks for strategic compliance programs. Contact ABAC™ for more on ISO Certification and training.
CRI Group’s EmploySmart™ — a pre-employment background screening process, can boost your fraud prevention efforts and provide a “boots on the ground” approach to extensive background checking.
LEARN MORE ABOUT OUR SOLUTIONS
The CRI Group™ invites you to schedule a quick appointment with them to discuss in more detail how we can help reduce the risk of bribery and corruption occurring and demonstrate to your stakeholders that you have put in place internationally recognised good-practice anti-bribery and anti-corruption controls.
‘Tis time for New Hopes, Dreams & New Year Resolutions!
Running a new start-up or even a mature and successful business setup is no mean task. Hopefully, you have safely weathered all the storms that came your way in 2022: transitioning from the unprecedented pandemic; walking straightaway into the looming inflation; the messy Russia-Ukraine war that keeps going on and on; and the FTX Crypto collapse that took out the little faith that you might have nurtured in your crypto get-rich-quick dreams.
As you get set to energise your business in 2023, all of us at the CRI Group™ send you our warmest wishes for lots of learning opportunities, continued growth, and fruitful collaborations.
New Year Resolutions
Here are a few New Year Resolutions that will help you and your business rock and roll in the coming year:
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Put your processes on paper and delegate
Preparing a master document with your strategies and processes can help you brainstorm with your think tank and fine-tune your strategies. Delegating key tasks will free up your time which can be effectively used to plan growth. This also means ensuring you have skilled and trustworthy people to take key decisions during crunch times.
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Schedule Strategy meetings regularly
It is important to plan, strategise and review your company’s growth every fortnight or even every week, perhaps. Reviewing goals regularly can tell you if your ship is sailing in the right direction and help you correct course as required for long-term growth. This includes changing plans if things are not working out as planned.
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Adopt a Performance Management System for efficiency
Tracking the progress of your employees, managers, and the company goals are best managed by putting a Performance Management System and KPIs in place. This will help you get everyone properly trained and prepare those with leadership skills for promotions in key positions. This system will also allow you to focus on other key matters rather than grapple with daily, mundane matters. A look at CRI’s Business Intelligence Solutions can help you with this.
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Get your house in order
This may seem very insignificant, but wouldn’t you rather walk into and work in a tidy place that is well organised, systematic, and inspires you to give your best? A well-maintained organisation emits positive energy and conveys a professional look to your clients and suppliers. CRI Group’s compliance solutions will also help you in ensuring compliance audits in all areas and keeping you one step ahead of regulatory requirements.
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Be a Santa for someone
Always, always count your blessings. Give back in whatever way you can to your employees, your suppliers, your community, and the underprivileged in your area of business operations. Given the tough times that everyone is going through, your time or money can be the reason for their smile today and every day. The feel-good factor that you get enveloped in will be well worth it all!
The CRI® Group highly values the relationships we have built over the years, and we owe you our gratitude for the success we have achieved. We are grateful for the opportunity to work with you. Thank you once again for your valuable support.
Here’s wishing you a wonderful holiday season! Have a Merry Christmas and a Happy New Year 2023! Having shared New Year Resolutions you could take up for the new year, we are excited to work with you in the years to come!
Cheers to our continued relationship
Check out our eBook Why Partner with CRI Group™, which will familiarise you with the unique services we offer. The CRI Group™ invites you to schedule a quick appointment with us to discuss how our risk management solutions can help you and your organisation.
CRI celebrates the 2022 International Anti-Corruption Day
The world today is plagued with some of the biggest issues of all time. The plague of corruption is intertwined in most of them, threatening the prosperity and stability of many countries. Corruption negatively impacts several aspects of society and is intertwined with conflict and instability jeopardising social and economic development and undermining democratic institutions and the rule of law.
Corruption fuels conflict and hampers peace by undermining the rule of law, and facilitating the illegal use of resources for armed conflict or illicit substances like drugs.
The United Nations designated 9 December as International Anti-Corruption Day, to raise awareness of corruption and of the role of the United Nations Convention against Corruption in combating and preventing it. The Convention entered into force in December 2005.
The 2022 International Anti-Corruption Day (IACD) looks at driving home the crucial link between anti-corruption and peace, security, and development. Tackling this crime is the right and responsibility of everyone, and this is possible only through cooperation and the involvement of all people and institutions in play, says the United Nations.
The Corruption Perceptions Index (CPI), published annually by the non-governmental organisation Transparency International ranked 180 countries “on a scale from 100 (very clean) to 0 (highly corrupt)” based on the situation between 1 May 2020 and 30 April 2021. As per the CPI, Denmark, New Zealand, Finland, Singapore, and Sweden are perceived as the least corrupt nations in the world, ranking consistently high among international financial transparency, while the most apparently corrupt are Syria, Somalia, and South Sudan.
Some staggering stats on corruption
- Here are some interesting statistics from transparency.org to blow your socks off:
- £100 billion of dirty money passes through UK systems and services every year.
- 87,000 land titles in England and Wales are owned by opaque corporate structures that hide the true owners.
- 76% think wealthy individuals often use their influence on Government for their own interests.
- Just 52 people made a sixth of all declared UK political donations between 2001 and 2016.
- £1.27 billion is lost annually to fraud, bribery and corruption in the NHS.
And some more stats for you on the Anti-Corruption Day:
- The annual costs of international corruption is estimated to amount to a staggering $3.6 trillion in the form of bribes and stolen money.
- Corruption often impacts the poorest in societies the most. In Paraguay, the poorest households are forced to pay nearly 13% of their income in bribes – twice as much as the richest households.
- Airbus was fined £3.6 billion in February 2020 by courts in the UK, US and France for slush funds, “success payments” and lavish hospitality.
- £820 million of this fine was paid in the UK. This is more than double the total of fines paid in respect of all criminal conduct in England and Wales in 2018.
And even more statistics on corruption:
- Corruption in the health sector kills an estimated 140,000 children a year.
- Up to 25% of public procurement funds are lost to corruption each year.
- Governments are spending $7.5 trillion a year on providing healthcare globally. But corruption means that $500billion (7%) of that money is lost.
- The World Health Organisation estimates $370billion would be enough to give everyone on the planet access to healthcare.
- Every year, pharmaceutical companies, universities and other research groups conduct around 20,000 clinical trials involving over two million patients worldwide, at an estimated cost of over US$60 billion.
- An estimated US$85 billion in medical research funding is being wasted every year as trials that cost millions to run fail to contribute to medical progress because their results are not reported.
As you can see from these statistics, corruption is a problem worldwide, costing both huge amounts of money and precious lives. Corruption and bribery can impact any organisation and cause severe harm to businesses, including causing financial loss, dire legal consequences, brand damage, damage to an organisation’s reputation and impeding sustainable development. The only way to get beyond this menace is through international collaboration.
Please make use of this opportunity to educate yourself better and your personnel to work towards a more transparent corporate model while seamlessly integrating it into your day-to-day lives. Ethical business always begins from within, and CRI Group™ is more than happy to help you through this.
Matters surrounding risk management and compliance can be daunting, so why not contact CRI Group™? Our experts have years of experience and have been trained to provide your business with bespoke advice that fits your organisations’ needs. Implement preventative measures in your workplace today and guide your team to an ethical and correct way of working on this Anti-Corruption Day.
Who is CRI Group™?
Based in London, CRI Group™ works with companies across the Americas, Europe, Africa, Middle East and Asia-Pacific as a one-stop international Risk Management, Employee Background Screening, Business Intelligence, TPRM, Due Diligence, Compliance Solutions and other professional Investigative Research solutions provider. We have the largest proprietary network of background-screening analysts and investigators across the Middle East and Asia. Our global presence ensures that no matter how international your operations are, we have the network needed to provide you with all you need, wherever you happen to be. CRI Group™ also holds BS 102000:2013 and BS 7858:2012 Certifications, is an HRO certified provider and partner with Oracle.
In 2016, CRI Group™ launched the Anti-Bribery Anti-Corruption (ABAC™) Center of Excellence – an independent certification body that provides education and certification services for individuals and organisations on a wide range of disciplines and ISO standards, including ISO 31000:2018 Risk Management- Guidelines; ISO 37000:2021 Governance of Organisations; ISO 37002:2021 Whistleblowing Management System; ISO 37301:2021 (formerly ISO 19600) Compliance Management system (CMS); Anti-Money Laundering (AML); and ISO 37001:2016 Anti-Bribery Management Systems ABMS. ABAC® offers a complete suite of solutions designed to help organisations mitigate the internal and external risks associated with operating in multi-jurisdiction and multi-cultural environments while assisting in developing frameworks for strategic compliance programs. Contact ABAC™ for more on ISO Certification and training.
CRI® Group’s DueDiligence360™ involves a review of all relevant information pertaining to virtually any business on the planet to ascertain past business dealings, criminal records, executive stability and suspect associations to ensure your organisation is protected from internal threats and outside risks.
CRI® Group’s exclusive 3PRM-Certified™ solution provides Third-Party Risk Management while ensuring compliance with FCPA, UK Bribery Act, Anti-Bribery and Anti-Corruption, and other global, regional and local regulations.
CRI® Group’s EmploySmart™ — a pre-employment background screening process, can boost your fraud prevention efforts and provide a “boots on the ground” approach to extensive background checking.
LEARN MORE ABOUT OUR SOLUTIONS
Contact CRI Group™ today to learn more about preventing and detecting corruption.
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