What is Continuous Background Screening?

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Seven Types of Business Risk You may Want to Address in Your Company

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FCRA: Risk Assessment and Financial Crime

A thorough understanding of its financial crime risks is key if a firm is to apply proportionate systems and controls. The following are self-assessment questions to help you implement an efficient risk assessment to mitigate the risk behind finance crime.

Self-assessment questions:

• What are the main financial crime risks to the business?
• How does your firm seek to understand the financial crime risks it faces?
• When did the firm last update its risk assessment?
• How do you identify new or emerging financial crime risks?
• Is there evidence that risk is considered and recorded systematically, updated assessments, and appropriate sign-off?
• Who challenges risk assessments and how? Is this process sufficiently rigorous and well-documented?
• How do procedures on the ground adapt to emerging risks? (For example, how quickly are policy manuals updated and procedures amended?)

Examples of good practice:

• A comprehensive risk assessment.
• Risk assessment is a continuous process based on the best information available from internal and external sources.
• The firm assesses where risks are greater and concentrates its resources accordingly.
• The firm actively considers the impact of crime on customers.
• The firm considers financial crime risk when designing new products and services.

Examples of poor practice:

• Risk assessment is a one-off exercise.
• Efforts to understand risk are piecemeal and lack coordination.
• Risk assessments are incomplete.
• The firm targets financial crimes that affect the bottom line (e.g. fraud against the firm) but neglects those where third parties suffer (e.g. fraud against customers)

Using An External Services Provider to Conduct Your Financial Crime Risk Assessment

Aside from it often being difficult to schedule time for this type of review or know where to start, there is considerable benefit in having an independent, objective review of the financial crime risks your business faces. Corporate Research and Investigations Limited (CRI Group™) has a wealth of knowledge in Financial Crime and can help you identify risks and exposures that might otherwise be missed, thereby enabling appropriate procedures to be put in place.

To engage CRI Group™ to conduct your Financial Crime Risk Assessment, contact the CRI™ team. CRI™ has a dedicated team of experienced compliance consultants who can provide expert assurance and peace of mind. Get in touch to see how we can help your organisation.

About CRI Group™

CRI Group™ has protected businesses from fraud, bribery and corruption since 1990. We are a leading Compliance and Risk Management company licensed and incorporated entity of the Dubai International Financial Center (DIFC) and Qatar Financial Center (QFC). CRI™ protects businesses by establishing the legal compliance, financial viability, and integrity levels of outside partners, suppliers and customers seeking to affiliate with your business.

In 2016, the company launched the Anti-Bribery Anti-Corruption (ABAC™) Center of Excellence. This independent certification body helps organisations mitigate internal and external risks by providing a complete suite of Anti-Bribery, Compliance and Risk Management programs.

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, 

In 2016, CRI Group™ launched the Anti-Bribery Anti-Corruption (ABAC™) Center of Excellence – an independent certification body established for ISO 37001:2016 Anti-Bribery Management Systems, ISO 37301 Compliance Management Systems and ISO 31000:2018 Risk Management, providing training and certification. ABAC® operates through its global network of certified ethics and compliance professionals, qualified auditors and other certified professionals. As a result, CRI Group’s global team of certified fraud examiners work as a discreet white-labelled supplier to some of the world’s largest organisations. Contact ABAC™ for more on ISO Certification and training.

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What is BS7858 Standard? And Why it is Important?

What is BS 7858 Standard?

The British Standards Institution (BSI) has recently revised the British Standard for Security Screening of Security Personnel (BS7858:2004). The new code of practice BS7858:2019 came into effect at the end of September 2020, substituting the revoked BS7858:2012 revised standard, which was rescinded on the 31^st  March 2020. The BS7858 standard has become progressively more crucial when it comes to the protection of individuals, goods & services, estate, and personal data. The BS7858 safeguards such elements by guaranteeing that the veracity of the person authorized to access such sensitive data is certified and retains as such.

There is a lot of misrepresentation circulating regarding the changes to BS7858 Standard which CRI Group, as the only company in the Middle East and Asian region with an implemented BS 7858:2019 standard and BS 102000:2018 code of practice for investigative services and ISO27001 (Information Security Management System) certification, want to help clean up.

Why is the standard so important? 

It is no secret that confidence is key when it comes to the mass of decision ruling. Instilling confidence in its personnel is critical for all organizations and their triumph, particularly when said personnel oversees susceptible individuals, valuable resources or data protection. Organisations have to be able to guarantee that their security personnel have been subordinate to the best meticulous screening process. This ensures pleased clients, as well as pleased personnel as the foundation to a fortunate and reliable organization, begins from within. The BS7585 aids organizations to avoid scandals such as:

• British Airways (BA): fined £20 million by the UK’s data protection authority over data security failings which permitted unauthorized access to be acquired to private data and payment card information concerning more than 400,000 of its consumers
• Sina Weibo: when hackers stole the private data of 172 million users – this included real names, site usernames, gender, location, and phone numbers. The data was sold on the dark web for a mere  ¥1,799 ($250) but caused considerable harm, distress and chaos to the daily lives of Weibo’s users.
• Canva: the Australian graphic design tool suffered an attack that exposed 137 million users email addresses, usernames, names, cities of residence. The hackers also managed to view, but not steal, files with a partial credit card and payment data.

The revised BS7858 has been made clear that the responsibility and accountability for the security and effectiveness of the vetting process rest with the organization itself and leading management. The BS7858:2019 connects with the move we have seen worldwide to corporate social responsibility and compliance and follows that trend. Other occurrences of the movement consist of instances such as the GDPR (April 2016) and the FCA (Dec 2020) which both expect leading management to be practical in their approach to compliance.

As a significant volume of data requires authentication in a screening process, several organizations may find executing an employee screening and vetting process to be highly complex. Additionally, the degree of evaluation of the applicant’s provisional data must be carried out effectively as well as promptly and include specific checks, such as credit checks or checks against the Financial Services Register.

BSI brought the BS7858 Standard to 2021 with the inclusion of:

Right to Work checks in line with Disclosure and Barring Service (DBS) identity requirements:

In antithesis to common acceptance, the BS7858-compliant vetting checks do not need to include DBS checks. This is due to the fact that the Security Industry Authority (SIA) oversees these criminal record checks as part of an individual’s registration process. Nevertheless, they do continue to be a measure of best practice, and the revised Standard firmly contends in its favour. See 7.3.2 (c) and 7.7. (j) in the 7858 Standard. Organizations can also refer to the SIA’s ‘Get Licensed’ handbook which asserts that when an operative is in connection with children or susceptible adults, the Standard or an alternate heightened degree of admission should be deemed essential.

Global watchlist checks during the application process

7.4 (c) of the BS7858 Standard comprises the compulsory requirement to examine a variety of international watchlists, sanctions and fraud databases. Hitherto to this, the Standard simply asked the examining of the HMG sanctions list.

Social media checks as an advised best practice for pre-and post-employment

Personnel social media posts could generate problems for organisations that are operational in protected and regulated conditions; BSI has updated the BS7858 Standard to consider this matter. The BS7858:2019 Standard urges organisations to complete social media screening pre and post-employment.

Searching for supplementary data utilizing best practice social media and additional open-source internet checks can support your organisation with superior perceptions and decrease your employee risk.

For extra assistance on social media and further knowledge on the perils of social media within your organisation, please see our article and free playbook on “Risks of Cybercrime & Social Media“. A complete Guide on How to Protect Your Organisation and Team!

Other significant changes of the BS7858 Standard:

• Removal of character references
• Approval to passing on pre-employment screening records from vocation to vocation.
• Conditional Offer: Formerly, there were two steps an employer was obliged to follow before making an offer of conditional employment; fulfilling the stipulated preliminary checks and adequately fulfilling limited screening on the subject. The new standard initiated the third element on top of the other two conditions – to commence a risk review and confirm that “the degree of risk in the envisioned employment has been evaluated and is deemed to be acceptable and documented” and consequently, the organization is happy to extend the offer based on their evaluation and the candidate’s risk profile.
• Preservation of candidates’ background screening records during their employment. Ineffective applicants records can be retained for 12 months while for ex-employees, particular records can be kept for an additional seven years after the employment ended.
• All groups involved in carrying out BS7858 vetting should be prepared for envisioned obligations.

It is clear to see that the BS7858 standard is crucial for employment in not only the security region but each region of employment; pre-employment screening expending the updated BS7858 standards promises that each member of the public, from manual laborer’s to office workers, can maintain life in a safe environment.

If the new standard still feels a little daunting to you, why not consider booking a free 30-minute consultation with one of our experts here at CRI Group? Our specialists have years of experience and are qualified to offer your organization personalized guidance to fit your professional requirements. Don’t hesitate, get in touch today and stay ahead of the vetting rules and regulations.

Get in Touch

Author bio

Zafar I. Anjum, is Group CEO of CRI Group (www.crigroup.com), a global supplier of investigative, forensic accounting, integrity due diligence and employee background screening services for some of the world’s leading business organizations. Headquartered in London, with offices in UAE, Pakistan, Qatar, Singapore, Malaysia, Brazil, China and USA, CRI is licensed by the Dubai International Financial Centre-DIFC, the Qatar Financial Center-QFC, and the Abu Dhabi Global Market-ADGM.

Contact Details

Zafar Anjum, MSc, MS, LLM, CFE, CII, MABI, MICA, Int. Dip. (Fin. Crime), Int. Dip. (GRC)
CRI Group Chief Executive Officer
37th Floor, 1 Canada Square, Canary Wharf, London, E14 5AA, United Kingdom
t: +44 207 8681415 | m: +44 7588 454959 | e: zanjum@crigroup.com

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Review and Reassess Your Organisation’s Third-Party Relationships

Is it the Time to Review and Reassess Your Third-Party Relationships? 

The global pandemic is rattling economies worldwide, disrupting supply chains, interrupting production, wreaking havoc on industry sectors and shuttering businesses; this impacts third-party relationships businesses have. At some point, organisations that affiliate with outside providers will eventually have to deal with any number of operational interruptions resulting from a third-party relationship-related issue. And while the risks involved in partnering with outsiders haven’t changed over time, the potential level of liability has been ratcheted up several notches.

International Borders have been ripped down. Technology has improved the way businesses communicate. Easy access to data and information enables the media to report on business news before a business can respond. Consequently, the markets are quick to react based on this 24/7 on-demand news cycle. The result of this increased liability can be highly problematic:

• Business litigation has skyrocketed.
• Corporate reputations are negatively impacted due to the fallout from the current global pandemic.
• Risk management frameworks are continually evolving to acclimate to changing business environments.
• Board members are becoming increasingly subjected to intense scrutiny from outside critics.

THE CHALLENGE: The Global Business Climate is Changing. So Are Your Third-Party Partners.

• Organisations suffer financial loss as the supply chain falters and loses customers because of poor-quality service from a third party.
• Company data systems are exposed and breached because of poor security practices by third parties.
• Companies are experiencing supply chain issues due to poor disaster recovery procedures by third parties.
• Organisations are increasingly being exposed to litigation because relationships with an outside provider significantly violated contractual terms, potentially resulting in regulatory exposure.

If your organisation requires any of the following within your compliance checklist, then you must consider a third-party risk management solution:

• Have a lack of visibility or understanding danger of the risks posed by your relationships with many types of third parties?
• Want greater visibility into third-party performance and risks?
• Need to improve operational costs, process, efficiencies, and organisational agility associated with your third-party relationships?
• Need to gain greater control over the related risks?
• Want to be confident that third parties are compliant with your business’ policies and their own based on government regulations and industry requirements?

The role or size of the third party is not as important as the nature of the relationship they have with your business. Think of your third-party access to your sensitive data or property! A cleaning company with access to your filing cabinet represents a different but still significant risk. And remember, you are accountable for the inappropriate actions of any of your third parties.

THE SOLUTION: 3PRM: A Third-Party Certification Program; Qualify Your Partners. Protect Your Organisation.

Corporate Research and Investigations Limited (CRI Group™) is pleased to announce the rollout of its 3PRM-Certified™ program, specifically designed for organisations across the Middle East, Europe and Asian regions. 

This highly specialised Third-Party Risk Management assessment and certification program was developed to help organisations accurately determine the legal compliance, financial viability, and integrity levels of outside partners, suppliers, and customers who seek to affiliate with and represent your business.

Download our 3PRM™ Brochure 

The 3PRM-Certified™ program consists of gap analysis and investigative due diligence on targeted third-party partners, suppliers and agents seeking to affiliate with your organisation. This highly thorough program can reveal any anti-corruption, compliance and risk management deficiencies associated with the international regulatory framework.

CRI® Group employs a network of locally qualified, subject-specific auditors, investigators, certified fraud examiners and industry-specific professionals across the Middle East, European and Asian regions who can provide expert counsel in offering 3PRM-Certified™ strategies as an effective pre-emptive measure. 

OUTCOMES – Identifying red flags

• Undisclosed third-party transactions
• Material misrepresentations or omissions
• Unreported financial liabilities
• Criminal or regulatory sanctions
• Prior bribe or corruption allegations
• Undisclosed legal or bankruptcy proceedings
• Politically Exposed Persons (PEPs)

RESULT: A highly educated market responds immediately with their pocketbooks.

Has your organisation vetted its third-party relationships lately? CRI Group’s 3PRM™ Third-party risk management strategy can safeguard your organisation against unwanted business dealings and risks from the third party. Contact CRI Group to learn more about our 3PRM-Certified™ third-party risk management strategy program and discover an effective and proactive approach to mitigating the risks associated with corruption, bribery, financial crimes and other dangerous threats posed by third-party partnerships.

We look forward to assisting you. Feel free to reach out to our CEO, Zafar I. Anjum, MSc, MS, LLM CFE, CIS, MICA, Int. Dip. (Fin. Crime), Int. Dip. (GRC), MBCI, CII Int. Dip. (AML) | e: 

GET A QUOTE

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, 

We’d like to share with you 10 great reasons to partner with CRI Group™ today:

1. CRI Group’s Personal Touch: Our high level of service sets us apart from our competitors: As your partner, our team become members of your team – working for you with our “boots on the ground” approach to gathering information. Our experts excel at deterring, detecting and investigating fraud and other crimes against businesses.
2. Our Vast Business Intelligence Network: We access information from 180 countries, gathering local knowledge in places our competitors cannot. Our presence in Pakistan, Oman, Turkey, Saudi Arabia, Libya, Qatar, Egypt, Kuwait, Bahrain, as well as other countries in Africa and the whole of Southeast Asia, means that many of our competitors contact us for information from those countries.
3. Competitive Pricing: CRI Group™ does not maintain the high overhead of larger firms, many of which lack our specialisation and level of individual client attention. We work within your budget, as CRI Group’s prices are consistently lower than our competitors’ rates.
4. “3PRM” – Our Third-Party Risk Management Strategy™: At CRI Group™, we have developed our own comprehensive service for helping clients manage third-party risks. Our team of experts provide the highest level of protection for companies worldwide.
5. CRI Group’s Wide Knowledge Base: Our experts come from a variety of professions and possess industry knowledge and experience serving clients spanning the oil and energy, banking, investments, international finance, and public and privately held multinational business sectors. CRI Group™ professionals work closely with your business to analyse systems and develop effective solutions that reduce the risk of your company falling prey to employees, suppliers or outside crime.
6. Our Background Checks Catch Everything: CRI Group’s background screening and pre-employment screening services expose vulnerabilities and threats within your organisation and can significantly reduce the potential of business and financial crime, fraud and malpractice from occurring within your workplace.
7. We’re Recognised and Acclaimed: As well as winning awards for “Anti-Fraud Advisor of the Year,” “Leading Adviser in UAE”, and “Business Due-Diligence Firm of the Year,” CRI Group™ is also working towards the “Investors in People” accreditation.
8. We are Discreet: Let’s face it; there are some problems you just don’t want announced to the world. Fraud, internal investigations, due diligence or liability issues – CRI Group’s experts are trained to maintain the highest levels of client confidentiality. We keep your private business private.
9. Our Updates Keep You in the Know: As industry experts, we offer a publication called Fraud 360, which is produced on a quarterly basis, with monthly email updates offering awareness, knowledge, latest trends and helpful advice for companies on fraud. If you would like to be on our mailing list, please subscribe here.
10. CRI Group™ is Truly International. We maintain offices in UAE, Turkey, Pakistan, Qatar, Singapore, Hong Kong, the United States and the United Kingdom. For more information, please visit www.crigroup.com.

Check out our Why Partner With CRI Group™ InfoPack

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WEBINAR | Compliance and Adequate Due Diligence for Third-Party Risk Managements

Building a Culture of Compliance and Trust Through ISO 37301:2021 CMS: Compliance adequate Due Diligence for Third-Party Risk Management – corporate compliance program

Free Webinar | 4 August 2022 | 2 pm – 3 pm UAE Time | in collaboration with ABAC™

CRI Group™ is hosting a free webinar on August 4th in collaboration with sister brand the Anti-Bribery Anti-Corruption (ABAC™) Center of Excellence. Our intention is to be able to provide resources on corporate compliance and due diligence to organizations around the globe that will aid them in expansion and an ethical working environment. Take advantage of this free webinar on compliance and adequate due diligence for Third-Party Risk Management.

Compliance in the Workplace

The compliance standard directs an organization to establish ideals and ethics. It involves the organization to illustrate those ideals and ethics adequately in a manner in which team members can recognise them and submit to them. A compliance standard necessitates that an organization train team members on ideals and ethics and demands that the organization hold team members liable for their conflicts and behaviors. In other words, compliance helps to define the force in the wake of the organization and its motivational efforts. However, many authoritative figures view compliance as intrinsically fundamentalist as they assume that the objective of compliance is to rein in conduct that couldn’t be further than the truth. Compliance provides a compelling instrument of prolonged adjustment. If everyday behavior branches from education and codes of conduct, and codes of conduct branch from ethics, expression, and alteration; over time, these said principles can intensely influence administrative behavior. Standards can be deemed as a leveraging point, and in the long run, compliance centers on the driving principles of an organization therefore, it is incredibly important to implement them into your corporate culture which is what we intend on discussing in our webinar.

Discussion points

• Most individuals are vaguely aware of what fraud prevention entails but many cannot fully comprehend how intensive and impactful a proper fraud prevention strategy can be. Our speaker will be looking at the following points.
• What does compliance mean?
• Compliance obligations
• Compliance related areas
• What is ISO 37301:2021 Compliance Management Systems
• Common elements of the framework
• Compliance risk assessment
• The process: Top management
• Questions to ask when developing a compliance management policy
• The involvement of third parties
• The results: the pay-off of good governance
• The results: long-lasting benefits integration with ISO 37001
• Anti-Bribery Management System, ISO 37000:2021 Governance of organizations, and ISO 37002:2021 Whistleblowing Management systems  

Meet our speaker, Samia El Kadiri

Consultant, Author & Trainer, 6σGB |IRCA- QMS Lead Auditor | TOT | Auditor | Anti-Bribery Anti-Corruption (ABAC™) Center of Excellence

She brings in over eight years of progressive experience working in private and government owned entities in compliance, management, quality assurance and excellence functions. Possess keen understanding, oversight and reporting mechanisms on Financial Crimes – Anti-Money Laundering, UAE Central Bank regulations, Dubai and UAE federal government mandates. She Developed and delivered various number of workshops and awareness sessions to leaders and decision makers on “Good Corporate Governance Practices”, “Development of Strategic Plan and Effective Policies” and “Financial Ethics” (AML&CFT according to local Guidelines). She authored reports and research papers on Compliance and the evolution of CG in the MENA region. She participated in the ESG Index; MENA wide Environment, Social and Governance (ESG) Index in cooperation with Standard & Poor’s with the support of the International Finance Corporation (IFC). She is a Consultant at DIFC – Hawkamah Institute for Corporate Governance charged with leading entities consultancy and advisory engagements in identifying the relevant controls, processes and frameworks and recommend areas of improvements. She works closely with clients in assessment and development, advisory and succession planning across multiple industries (Dubai and Federal Government entities, Healthcare, Financial institutions including Banks, and Real Estate) and functional topics (Ethics, Strategic excellence, ESG, Clinical Governance, Regulatory Compliance, Audit & Risk , Policies & Procedures…etc.). Prior to joining Hawkamah she was the Regulatory Compliance Officer and Chief Editor of Compliance newsletter at Wall Street Exchange, a member of Emirates Post Group where she developed systems, policies and procedures for compliance of relevant UAE laws. Prior to that she worked with the American Clinics for Psychiatry and Neurology where she focused on health care compliance of Dubai Healthcare Authority’s mandates. Prior to ACPN she worked at Roads and Transport Authority (RTA) in Dubai where she focused on government excellence, quality management, and customer happiness. She is Graduated with a BSC in Economics. She is a Certified Train the Trainer – Institute of Leadership and Management (UK), In addition to other accreditations related to Anti-Money Laundry (AML) and Counter Financing Crimes. She is fluent in English, Arabic and French.

Who should attend?

By Job Title:

• Investigation Director/Manager
• Internal Audit Director/Manager
• Internal Control Director/Manager
• Chief Compliance/Legal /Ethics/Financial/Risk Officer
• Compliance & Ethics Director/Manager
• General Counsel/Legal Director
• Legal Manager /Legal Counsel
• BD & Commercial Director/Manager
• Purchasing Director/Manager
• …

From Accounting Firms & Consulting:

• Managing Director
• Executive Director
• Partner
• Associate Attorney & Attorney
• …

Why ISO?

Issued in April 2021, the ISO 37301 framework offers a certifiable global benchmark for compliance systems and explains in detail how to construct a compliance management system to comply with international official standards and regulations. This standard is also acknowledged to indicate compliance with social and ethical principles across the globe. The International Organization for Standardization (ISO) is an independent, non-governmental body that has developed and implemented the ISO 37301. Corporate compliance continues to be one of the utmost risk interests for management – to which the key solution in preserving integrity and confidence within an organization and third-party representatives is to implement a robust compliance program. The ISO 37301 further urges organizations to place emphasis on the methodical implementation of an organization-wide compliance system as a means of efficiency and compliance understanding the workplace. Like other ISO standards for management systems, such as the ISO 37001 standard for anti-bribery management systems, the ISO 37301 pulls on the founded ISO value of “Plan-Do-Check-Act” (PDCA) – a standard which necessitates those certified organizations to operate within an unremitting development progression sequence.

About CRI Group™?

Based in London, United Kingdom, CRI™ is a global company with experts and resources located in key regional marketplaces across the Asia Pacific, South Asia, the Middle East, North Africa, Europe, North and South America. We have experts’ speakers who know the industry inside out and have worked in the field for years and are dedicated to our mission of safeguarding the corporate world by detecting and exposing those elements that can cause irreparable harm to an organization while standing up against the outside forces, who through corruption, collusion, coercion, and fraud, can cause financial, organizational, reputational, and legal harm to our global clients. CRI Group™ also holds BS 102000:2018 and BS 7858:2019 Certifications, is an HRO certified provider and partner with Oracle. Our webinars, resources and other events are always designed with our clients in mind. Expect to be provided detailed insights and expert opinions to all your questions and queries regarding compliance adequate due diligence for third-party risk management, corporate compliance program and what it means for your organization. CRI Group™ has safeguarded businesses from any risks, providing investigations (i.e. insurance fraud), employee background screening, investigative due diligence, business intelligence, third-party risk management, forensic accounting, compliance and other professional investigative research services. In 2016, CRI Group™ launched the Anti-Bribery Anti-Corruption (ABAC™) Center of Excellence – an independent certification body established for ISO 37001:2016 Anti-Bribery Management Systems, ISO 37301 Compliance Management Systems and ISO 31000:2018 Risk Management, providing training and certification. ABAC™ operates through its global network of certified ethics and compliance professionals, qualified auditors and other certified professionals.

CRI Group™ invites you to schedule a quick appointment with us to discuss in more detail how our risk management solutions can help you and your organization.

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Risk Management & What can Business Intelligence do?

Businesses must manage risks because they can frequently prevent or minimize the financial, political, social, and cultural ramifications associated with them. Risk management is an effective tool to tackle uncertainties in the probability of an event’s occurrence that challenges decision-making. Many factors associated with risk management, including business intelligence, have the potential to be used to reduce such uncertainties. Business Intelligence services supports organizations in the making more accurate estimates and predictions by analyzing historical and current data and mitigating internal and external risks.

What is Business Intelligence? How are Investigative operations are compared to Intelligence operations? Business Intelligence (BI) is a phrase coined for the analytical procedures an organization commences.

Business Intelligence is a successful method of conducting market research as it merges data derivative from the peripheral environment (i.e., market and industry) in which an organization operates with data from the core environment of the organization as fiscal and controls data. When combined, this data can deliver a complete image of any business decisions a firm can make as a means of benefit to themselves; this ranges from operational decisions such as product positioning to strategic decisions such as pricing.

What Are The Five Basic Tasks Of Business Intelligence?

• Intelligence is used for business decisions….
• Following are the five steps siness Intelligence:
• The data is sourced from…
• The results of the analysis are…
• Being aware of your surroundings:…
• The risk assessment is that…
• Support in making decisions…

What is Counted as Business Intelligence Services?

Business Intelligence (BI) services can take on numerous forms and structures in today’s complex corporate environment. Business Intelligence services investigates everything from assets to the exterior disputes facing an organization. It can also appraise an organization’s employees to ensure that its integrity, reputation, and bottom-line profits are safeguarded from any malice and illicit activities.

CRI Group™ takes two approaches to business intelligence services:

• Intelligence operations (via market research and analysis): we focus on researching your business’s future and potential growth – i.e. determine the commercial viability and potential for success in the market, analyze consumer behavior and business trends in that market, etc.
• Investigative operations (via commercial investigations): we focus on the status of your business – i.e. location of assets, financial information, identification of unmet needs of any market, gauge brand awareness and identity in the market, etc.)

What are Intelligence Operations?

Investigation and Evaluation facilities are constructed to aid clients during the business intelligence procedure. Intelligence operations are highly acclaimed by organizations of all industries. The service aids the preliminary phases of detecting the necessary components for a suitable corporate policy to the closing execution phases. At CRI Group™, we know that data is your greatest advantage when performing enterprise on several degrees.

Our market research will collect the mandatory statistics to make significant corporate decisions; everything from registering into other markets or industries to associating or partnering with other organizations (i.e., Mergers and Acquisitions) is covered in our BI Solutions. CRI Group™ is proficient in understanding and transmitting this data to allow you to implement it into your corporate development; our experts are trained to the highest degree and understand how to get the proper data promptly.

CRI Group’s methodology is to assist the organization in tracing corporate movements and market changes which, in turn, will aid in steering them through the practice of successfully conveying their brand in the larger market to then be able to market their goods and services accordingly. With representatives in nations across the globe, CRI Group™ is distinctively situated to assist you in traversing cultural and regulatory environments to maximize your market potential in the regions you seek to trade.

Gaining insight into how your brand reputation affects potential buyers and understanding what motivates the market to purchase will enable you to establish effective marketing programs that impact your audiences and build brand loyalty among buyers. Why not check out our BI solutions brochure to learn more about our approach.

What are Investigative Operations?

It is no secret that every industry has its issues. However, some matters, such as Employee Theft, Company Fraud, rivalry, continuous malingering, or Industrial Espionage, can start on a moderately trivial scale. Still, as time advances, the culprit becomes brasher in their endeavors (typically due to an absence of discovery) instigating the situation to develop out of control and become detrimental to your commerce.

As an organization, you have every right to be involved with the internal activities of your firm; hence, carrying out commercial investigations on your employees as a means of curtailing threats is not out of the question. Our team of experts can support you to do this in a manner equally as ethical as it is providing as it delivers you the data you so greatly pursue.

Commercial investigations can be achieved for any form of an enterprise, including commercial, industrial, legal, and public sector corporations. Our team hails from diverse backgrounds, including military and fraud investigators, which is why CRI Group™ is so adaptable in its approach to help you with intelligence and investigative operations. Why not check out our BI solutions brochure to learn more about our approach.

A little bit overwhelmed and wanting to learn more? Get in touch and let us know how we can help!

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What is Fraud Investigation?

Fraud is one of the biggest and most damaging risks businesses face. The headlines are full of organisations both in the private and public sectors affected by fraud, irregularity or other wrongdoing – either as a victim or accused. Statistics show that the threat of Corporate Fraud increases markedly in a down economy. And when such fraud occurs, it takes an average of 18 months to detect. In that timeframe, the damage to your business can be both widespread and irreversible. The hidden costs related to corporate fraud drains an estimated five per cent of revenue from corporations worldwide.

Fraud Risk Assessment and Fraud Risk Management: A Proactive Approach to Prevention and Detection

Historically, most major corporate fraud cases have been perpetrated by senior management who can circumvent internal controls and often work in collusion with other employees. By establishing a strong workplace environment that promotes ethical behaviour, deters wrongdoing and encourages all employees to communicate any known or suspected activity to the proper authority, you would be taking a proactive approach to prevention and detection.

What is the Fraud Investigation Process?

When fraud is suspected within the organisation, CRI Group’s experienced fraud analysts use proven techniques to aggressively investigate the case, collect evidence and determine the facts. Once the type of fraud is determined, a process of gathering all evidence possible to bulk out the investigation case starts. Evidence can be collected through a variety of means and methods.

These methods include conducting detailed asset checks, background verifications, surveillance checks and stylised forms of investigation and analysis; including employee investigations and investigations of an entire business. Subsequently, the victims and potential fraudsters will be interviewed.  Our analysts work with your management, internal security and legal teams to uncover the truth and bring proper closure to the case.

Are You Auditing Your Fraud Prevention Program Regularly?

• Review and assessment of your current fraud risk management program, including policies, procedures, controls, reporting functions, responsibilities assignment and investigative requirements to identify the organisation’s susceptibility to fraud and vulnerability by the department.
• Developing fraud prevention measures and implementing Anti-fraud controls.
• Defining detection methods that encompass internal audits, suspicious transaction reporting, whistle-blower strategies, and program enforcement.
• Re-engineering targeted job functions or internal controls to mesh with fraud risk management program refinements.

Take Extra Precaution with Fraud and White-Collar Crime Investigations

Fraud and white-collar crime investigations and risk consulting services have helped financial institutions, corporations, partnerships, and individuals worldwide minimise fraud and thereby satisfy capital markets, reduce legal costs, and maintain their reputation and brand equity. CRI Group’s global team of Certified Fraud Examiners are trained in virtually every aspect of corporate fraud, including:

• Money Laundering
• Intellectual Property Crimes
• Embezzlement
• Check & Credit Card Fraud
• Online Cybercrime
• Accounting Fraud
• Cash Theft
• Asset Misappropriation
• Bribery
• Corruption
• Contract & Procurement Fraud
• Payroll Fraud

CRI Group™ develops preventative measures that have helped organisations worldwide identify a material weakness in internal controls to mitigate collusive activity and reduce the liabilities associated with corporate fraud. Our trained investigators leverage our collective investigative experience, leading technology tools, global reach and credibility with regulators to bring you insights with precision and speed.

Our international team of Certified Fraud Examiners (CFEs) work with companies to analyse and assess fraud prevention measures, develop solid risk management programs, provide training for executives, board, management and staff, establish effective communications strategies for reporting suspicious behaviour, and implement investigation and corrective action policies that meet regulatory and compliance requirements.

CRI Group™ professionals work with your organisation on an unbiased level, strengthening your fraud risk management program by:

• Adhering to the organisation’s written code of conduct
• Reviewing existing fraud risk management programs
• Training employees to properly identify fraud
• Developing internal and external reporting channels
• Identifying senior management, board and employee responsibilities
• Conducting and monitoring the progress of investigations
• Providing thorough reporting of investigative results
• Testifying as expert witnesses, if required

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, 

CRI Group™ invites you to schedule a quick appointment with us to discuss in more detail how our risk management solutions can help you and your organisation. 

احجز موعد اجتماع الآن!

Why CRI Group™?

• CRI™ has one of the largest, most experienced & best-trained integrity due diligence teams in the world.
• We have a flat structure which means that you will have direct access to senior members of staff throughout the due diligence process.
• Our multi-lingual teams have conducted assignments on thousands of subjects in over 80 countries, & we’re committed to maintaining & constantly evolving our global network.
• Our solutions are easily customisable, flexible & we will tailor our scope to address your concerns & risk areas; saving you time & money.
• Our team of more than 50 full-time analysts is spread across Europe, Middle East, Asia, North and South America & is fully equiped with the local knowledge to serve your needs globally.
• Our extensive solutions include due diligence, employee pre & post background screening, business intelligence & compliance, facilitating any decision-making across your business no matter what area or department.

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.

Filed under: All Industries, All Regions, Background Investigation,

Employee Fraud: Why are Human Factors so Important in Risk Management?

When any fraud, including employee fraud, is discovered, it’s usually by surprise. That’s because most of us aren’t used to looking for criminal behaviour inside our organisation. We trust our employees and co-workers, and we keep our focus on succeeding as a team and accomplishing our goals for the business. Nobody wants to think that someone might be subverting the rules for their gain.

Unfortunately, though, fraud does happen. The statistics tell us that, on average, organisations lose about 5 per cent of their total revenues to fraud, and the median loss in frauds committed by owners/executives is $600,000. If that’s not bad enough, the average fraud lasts 18 months before being discovered – if it is discovered at all (ACFE, 2020). 

Employee fraud is a combination of complex events, and many organisations include “human factors” in generic terms in the causation path of failure. Because for many organisations, it is hard to specifically identify human factors and understand how to manage them. At CRI Group™, we have 32 years of experience in the causes of potential deviations, the unwanted scenario that organisations may face, and the controls necessary to prevent or mitigate incidents. Our analysts uncover the truth every day; here are the most common human factors that lead to employee fraud:

• Pressures to Perform
• Staff Reductions
• Departmental Cuts
• Business Survival
• Overworked Audit Staff
• Increased External Vulnerability Due to Weak IT Controls
• Reduced Regulatory Oversight

Human factors in risk management

Understanding the impact of human behaviour on your primary process is key. When we address human factors related to health and safety, we aim to optimise human performance and reduce human failures. Organisations need to take a proportionate approach to human factors in risk assessment based on their hazard and risk profile. Several large companies have recognised the value of adopting some kind of a risk model. 

Applying human factors tools and techniques in your risk assessment is detrimental to the safety of your workforce too. This human factor risk management process should consider work ethic, culture, and stakeholder expectations as organisational culture is affected by these concepts and links management processes to corporate sustainability.

Benefits of implementing human factors in risk management

• Reduce turnover and training costs
• Gain a competitive edge through the hiring of better people
• Increase productivity – help your employees be more productive knowing that everyone employed by your company has been screened
• Set your company apart and win more business
• Reduce employee-related problems
• Protect company reputation/brand & customer relations
•  Comply with mandates created by state or federal law for certain industries
• Increase retention
• Reduce negligent hiring claims
• Avoid violence in the workplace (threats of violence and actual violence)
• Reduce theft and espionage
• Avoid lawsuits and the costs associated with the defence
• Avoid loss of goodwill

Mitigate employee risk

Organisations spend years and thousands, even millions, to brand their products and services – it only takes one bad hire to cause a loss of capital and reputation. Employee Background Checks can aid in reducing the risk of hiring an employee who does not live up to their supposed skill set and could cause irrevocable damage. It can cause a business to fail, especially if the employee holds malice toward the organisation. EmploySmart™ is CRI Group’s own solution aiming to expose vulnerabilities and threats within your organisation. Our EmploySmart™ is a risk management measure that can significantly reduce business and financial crime, fraud and malpractice within your workplace.

Our EmploySmart™ solutions are also certified by the British Standard Institute BSI for the scope of BS 7858:2019 Screening of individuals working in a secure environment, Code of practice (the only BS 7858 certified background screening services provider in the UAE and across the Middle East); and BS 102000:2018 Code of practice for the provision of investigative services.

Let’s Talk

Other Solutions…

CRI Group™ has experts who have conducted fraud investigations worldwide for organisations of all sizes and industries. Our investigators work on-site at your company bringing a boots-on-the-ground approach to uncovering all the case facts. When you’ve uncovered fraud, that’s the time to let the experts take over. You owe it to yourself and the future of your business to make sure every investigation is done professionally and effectively. 

Get a FREE QUOTE

CRI Group’s unique identity and vision evolved from our fundamental desire to support our clients and their candidates, thus creating the DueDiligence360™. Identifying key risk issues clearly and concisely helps enhance your knowledge and understanding of the customer, supplier, and third-party risk, helping you avoid those involved with financial crime. The DueDiligence360™ reports help organisations comply with anti-money laundering, anti-bribery, and anti-corruption regulations. This service also proves beneficial ahead of a merger, acquisition, or joint venture. It can be used for a third-party risk assessment, onboarding decision-making, and identifying beneficial ownership structures.

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7 Reasons Why You Should Perform Global Integrity Due Diligence Investigations

Why should you perform global integrity due diligence investigations?

Global integrity due diligence investigations provides your business with the critical information it needs to make sound decisions regarding mergers and acquisitions, strategic partnerships, and the selection of vendors, suppliers, and employees. Due Diligence on potential business partners when adding a new vendor or hiring a new employee is vital to confirm the legitimacy and reduce the risks associated with such professional relationships. It will ensure that working with an, i.e. potential trade partner will ultimately achieve your organisation’s strategic and financial goals.

Why perform due Diligence?

To answer questions such as “Does trade partner adhere to (inter)national regulations on anti-corruption and anti-bribery?” or “Is it possible that there is a liability risk in your supply chain?,” performing due Diligence across your business is key to:

1. Quantify the real risk of a financial transaction, particular if the transaction takes place in a jurisdiction unfamiliar to you
2. Meet legal compliance and/or get regulatory approval
3. Assist in accurate decision-making
4. Identify red flag issues
5. Provide leverage for business valuation and negotiation
6. Verify that investment or acquisition criteria have been met
7. Ensure the other party or company is trustworthy

At CRI™, we provide due diligence services where ever you are. Use our DueDiligence360™ reports to help you comply with anti-money laundering, anti-bribery, and anti-corruption regulations ahead of a merger, acquisition, or joint venture. You can also use them for third-party risk assessment, onboarding decision-making, and identifying beneficial ownership structures.

Identify key risk issues clearly and concisely using accurate information in a well-structured and transparent report format. Our comprehensive range of reports includes specialised reports that support specific compliance requirements. Protect your reputation and the risk of financial damage and regulator action using our detailed reports. They enhance your knowledge and understanding of the customer, supplier, and third-party risk, helping you avoid those involved with financial crime.

VIEW DUEDILIGENCE360™ BROCHURE

CRI™ investigators employ a proven, multi-faceted research approach that involves a global array of databases, courts and public record searches, local contacts, industry and media resources, and in-depth web-based research. Our resources include:

• International business verification
• Individual business interest search
• Personal profile on individual subjects
• Company profile on corporate entities
• Historical ownership analysis
• Identification of subsidiaries and connected parties
• Global/national criminality & regulatory records checks
• Politically Exposed Person database
• International digital media research
• Company background analysis
• Industry reputational assessment
• FCPA, UK Anti-Bribery and corruption risk databases
• Global terrorism checks
• Global financial regulatory authorities checks
• قاعدة بيانات مخاطر غسيل الأموال.
• Financial reports
• Asset tracing
• Country-specific databases that include litigation checks, law enforcement agencies & capital market regulators.

GET A QUOTE

Clients who partner with us benefit from our:

• Expertise: CRI™ has one of the largest, most experienced and best-trained integrity due diligence teams globally.
• Global scope: Our multi-lingual teams have conducted assignments on thousands of subjects in over 80 countries, and we’re committed to maintaining and constantly evolving our global network.
• Flexibility: Our DueDiligence360™ service is flexible and can apply different levels of scrutiny to the subjects of our assignments, according to client needs and the nature of the project.

At CRI™, we specialise in Integrity Due Diligence, working as trusted partners to businesses and institutions worldwide. Our people work with energy, insight and care to ensure we provide a positive experience to everyone involved – clients, reference providers and candidates.

CRI Group™’s unique identity and vision evolved from our fundamental desire to support our clients and candidates. Safeguard your business and its integrity with DueDiligence360™. Our DueDiligence360™ expose vulnerabilities and threats that can cause serious damage to your organisation and can significantly reduce business. The world’s largest corporations trust CRI® and consultancies – outsource your due Diligence to an experienced provider, and you will only ever have to look forward, never back.

We are always ready to assist you in effectively managing your business and organisation efficiently and risk-free manner that best suits your needs. CRI Group™’s investigators and Certified Fraud Examiners understand fraud patterns. They are trained to recognise the elements of fraud characteristics and where they might come into play at any organisation. Through this knowledge, we can help you uncover the trail of fraud and help bring about a quick and successful resolution.

Having global coverage, CRI™ works directly with the key personnel to lead and conduct fraud investigations, including, if needed, your internal board of directors, audit committee, ethics and compliance officers, general and in-house counsel, corporate security, human resources, and C-level executives. Explore our broad range of risk management solutions for your business.

Check out our Why Partner With CRI Group™ InfoPack

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, 

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 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.

OUR MISSION AND VISION

• CRI™ mission is to safeguard the corporate world by detecting and exposing those elements that can cause irreparable harm to a business
• Stand up against the outside forces that, through corruption, collusion, coercion and fraud, can cause financial, organisational, reputational and legal harm to our global clients
• Stand out as the preeminent provider of specialised investigative services that enable our clients to exhibit the highest standards of business integrity, ethics and behaviour

Filed under: All Industries,