CRI Group™ Accredited by PBSA®| Background Screening Credentialing Council
Corporate Research and Investigations Limited (CRI Group™) ACHIEVES BACKGROUND SCREENING CREDENTIALING COUNCIL ACCREDITATION
RALEIGH, N.C., DATE – The Professional Background Screening Association (PBSA®) Background Screening Credentialing Council (BSCC) announced today that Corporate Research and Investigations Limited (CRI Group™) has successfully demonstrated compliance with the Background Screening Organization Accreditation Program (BSOAP) and will now be formally recognized as BSCC-Accredited.
‘CRI Group CEO Zafar I. Anjum states: “It is a great honor to be granted BSOAP Accreditation by the Professional Background Screening Association (PBSA®) Background Screening Credentialing Council (BSCC). Receiving this prestigious recognition affirms our steadfast dedication to delivering the most precise, equitable and legally compliant background screening solutions for clients. Trust and transparency are more important than ever in the sophisticated world of business today. BSCC accreditation assures our clients that CRI Group operates with the highest ethical standards and provides results they can depend upon.’
Each year, employers, organizations, and governmental agencies around the globe request millions of reports on data subjects to assist with critical business decisions. Background screening reports, which contain personal information about data subjects, are often regulated through data privacy and other employment laws.
Since its inception, PBSA has maintained that there is a strong need for a compliant, cohesive industry standard and, therefore, created the BSOAP. Governed by a strict professional standard of specified requirements and measurements, the BSOAP is becoming a widely recognized seal of achievement that brings national recognition to background screening organizations. This recognition will stand as the industry “seal,” representing a background screening organization’s commitment to excellence, accountability, high professional standards and continued institutional improvement.
The BSCC oversees the application process and is the governing accreditation body that validates the background screening organizations seeking accreditation meet or exceed a measurable
standard of competence. To become accredited, organizations must pass a thorough desk audit of their operational documentation, followed by a rigorous virtual audit, conducted by a third-party auditor. This audit includes a review of its policies and procedures as they relate to six critical areas: Information Security, Legal and Compliance, Client Education, Researcher and Data Standards, Verification Services Standards, and Business Practices.
Any employment or background screening organization is eligible to apply for accreditation. A copy of the standards, the policies and procedures, and measurements is available at www.thepbsa.org.
About PBSA®
Founded in 2003 as a not-for-profit trade association, the Professional Background Screening Association (PBSA) represents the interests of more than 900 member companies around the world that offer tenant, employment and background screening. PBSA provides relevant programs and training aimed at empowering members to better serve clients and maintain standards of excellence in the background screening industry, and presents a unified voice in the development of national, state and local regulations. For more information, visit .
About CRI Group
Corporate Research and Investigations Limited (CRI Group™), Since 1990, CRI Group has been a global provider of Investigative Research, Forensic Accounting, Counter Fraud and Counter Corruption Solutions, Integrity
Executive Director Appointment at Corporate Research and Investigations Limited: A New Era Begins
London, Friday, 17 May 2024 – Corporate Research and Investigations Limited (CRI Group™), a global leader in corporate research and investigation services, is thrilled to announce the appointment of Mr. Tamseel Ahmed as our new Executive Director.
Tamseel Ahmed, the elder son of our esteemed CEO, Mr. Zafar Anjum, represents the 4th generation of the Anjum family leading CRI Group since its establishment in 1990. This appointment underscores our commitment to family values and continuity in leadership, marking a significant milestone in our company’s history.
Our Group CEO, Mr. Zafar Anjum, expressed his pride and confidence in this appointment, stating:
‘It is with great pleasure that I announce the appointment of my son, Tamseel Ahmed, as Executive Director of CRI Group™. Tamseel has demonstrated exceptional leadership skills, a deep understanding of our industry, and an unwavering dedication to our core values. I am confident that his innovative vision and strategic approach will drive CRI Group™ to new heights. Our legacy of integrity, excellence, and commitment to our clients is in capable hands, and I look forward to witnessing the continued growth and success of CRI Group™ under his leadership.’
Mr. Tamseel Ahmed brings a wealth of knowledge and a fresh perspective to CRI Group™, backed by a British University Law degree. Having been actively involved in various aspects of the business over the years, his appointment ensures the continuity of our mission to provide world-class corporate research and investigation services, uphold the highest compliance standards, and foster a culture of transparency and accountability.
We invite you to join us in congratulating Mr. Tamseel Ahmed on his new role and supporting him as he leads CRI Group into an exciting future.
For more information about CRI Group™ and our services, please visit our website at www.crigroup.com.
Media Contact:
Sumbul Zehra
Marketing Manager MENA
Corporate Research and Investigations Limited
sumbul.zehra@crigroup.com w: crigroup.com | abacgroup.com
What’s Your Plan of Action for Mandatory Due Diligence?
There is growing momentum among governments all over the world that calls for Mandatory Due Diligence. This requires companies to undertake human rights and environmental due diligence. We now have the French Duty of Vigilance Law and the adoption in 2021 of new laws in Germany and Norway to the publication of a proposal for an EU-wide law in 2022, all moving in this direction. Major investors and companies are also speaking out in favour of such legislation, according to business-humanrights.org
Corporates will not be allowed anymore to focus on short-term benefits at the expense of long-term sustainable value creation. Environmental and social interests will also need to be fully woven into business strategies of the corporates.
Improving Commitment to Mandatory Due Diligence
Corporates are bound to get in line with human rights due diligence guidelines, as prescribed by the UN Guiding Principles on Business and Human Rights. Yet very few actually comply with the standards and nearly half of the biggest companies in the world analysed in the latest Corporate Human Rights Benchmark could not produce any proof of mitigating human rights issues in their supply chains.
The KnowTheChain benchmarks showed companies scoring a poor 29% for their human rights due diligence efforts — something that mandatory human rights and environmental due diligence laws seek to address.
For these laws should to be effective, a few important factors need to be factored in, such as a due diligence obligation for businesses across their global value chains; an effective and safe stakeholder engagement; mandatory requirements that go beyond routine check and audits, a thorough look at irresponsible business models and purchasing practices, and strong civil liability enforcement.
We can help with Mandatory Due Diligence
The CRI Group™ has developed a highly specialised assessment solution for Corporate
From enhanced due diligence to identify non-compliance of the regulatory framework and damaging environmental allegations to investigating company (or stakeholder) human rights violations related to labour laws, child labour or human trafficking, CRI Group experts help determine the legal compliance, financial viability, and integrity levels of outside partners and suppliers affiliated with your company’s value chain.
The Benefits of Compliance
Recent studies have demonstrated a positive correlation between the extent to which companies implement environmental, social and good governance policies, and their overall economic performance, all while contributing to a more stable global marketplace. Such responsible business conduct will:
- Enhance protection for workers
- Improve access to justice for victims
- Safeguard the environment
- Ensure fair products for consumers
Further, apart from general compliance with EU mandates, such organisations will benefit from:
- Reduced overall liability risks
- Improved stakeholder protection
- Lower costs resulting from conflicts
- Improved company transparency
- More profound knowledge of the value chain
- Enhanced reputation in the market &
- Improved social standards for workers
CRI Group’s corporate due diligence and accountability solutions can help your organisation comply with a growing list of global regulations and mandates related to human rights and the environment while acting as an integral part of your business decision-making and risk management systems.
Contact the CRI Group to learn more about our Corporate Due Diligence and Accountability solutions and stay one step ahead of the pending EU mandates. We look forward to assisting you.
About 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 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 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. Contact ABAC™ for more on ISO Certification and training.
Supply Chain Due Diligence Act: New Risk Management & Reporting Duties for German Businesses
This article looks at the Supply Chain Due Diligence Act (LkSG) that applies to companies operating or trading in Germany and will enter into force on 1 January 2023.
The new German law, known as the Supply Chain Due Diligence Act (LkSG, short for Lieferkettensorgfaltspflichtengesetz in German) imposes due diligence obligations on environmental protection and on human rights, with all businesses having to introduce iterative and ongoing, or in certain circumstances ad hoc, due diligence processes specified by the Act.
Identification and management of an organisation’s supply chain and the risks that come with it require the implementation of due diligence processes.
The term “supply chain” refers to all products/services of a business, including all manufacturing and services, in Germany and/or abroad, from the extraction of raw materials to their delivery to the end customer.
Furthermore, due diligence processes should implement the following criteria:
- type and scope of the business activities of the company subject to the due diligence obligations,
- the ability of the company subject to the due diligence obligations to exert influence (so-called leverage),
- typically expected severity of the violation, and
- type of contribution by the company subject to the due diligence obligations to cause a violation.
More details can be had in our FREE Supply Chain Due Diligence Act (LkSG) eBook.
Who is Affected by the Supply Chain Due Diligence Act?
- As of 1 January 2023: Companies with at least 3,000 employees that have their head office, administrative seat or statutory seat in Germany OR companies that have a branch in Germany and usually employ at least 3,000 employees in this branch;
- As of 1 January 2024: Companies with at least 1,000 employees that have their head office, administrative seat or statutory seat in Germany OR companies that have a branch in Germany and usually employ at least 1,000 employees in this branch.
From 2024, the law will apply to businesses with more than 1,000 employees.
Even if companies with fewer employees are not addressees of the Supply Chain Act, they may still be indirectly affected. This is because the companies directly affected would be obliged to enforce compliance to the best of their ability with human rights in their supply chain. The measures necessary for this can have a direct impact on their suppliers, for example, through the implementation of a code of conduct. In addition, the directly affected companies will often be dependent on the active support of their suppliers and thus have this support be contractually assured, e.g. in the form of reporting obligations as part of their risk analysis.
DOWNLOAD THE SUPPLY CHAIN DUE DILIGENCE ACT (LkSG) EBOOK.
Due Diligence Investigations: Mitigate Critical Risks
At CRI®, we provide corporate reporting and due diligence services wherever 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.
Due Diligence helps you 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.
The CRI® Group invites you to schedule a quick appointment with them to discuss in more detail how conducting due diligence and compliance can help you and your organisation.
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 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.
WEBINAR RECORDING | “Remote Work & Other Trends Shaping Workplace Cultures”
CRI Group™ hosted a free webinar on August 31st. Our intention was to be able to provide resources on workplace cultures in organisations around the globe that will aid them in expansion and an positive employee environment. Take advantage of this free recording on employee wellness, remote work, pre-employment screening and workplace cultures.
The live training session was conducted by senior certified HR professional and member of CRI’s expert team,
Improving Workplace Cultures
Workplace trends are dictating major shifts and becoming new norms in the workplace. These trends are expected to grow in the coming years. Examples of this include hybrid work, employee wellness, and ongoing education. Adapting to workplace trends will help employers improve company culture, boost employee retention and defeat workplace complacency. This will help companies stay competitive within the industry and remain relevant in the wider world.
With over nine years of experience in HR, Nilofar A. Gardezi is a HRBP & an Associate Director with the CRI Group™. She is a gold-certified Trainer from DWE with a Certification in Psychology and serves as a Certified Professional Counsellor. She has worked with renowned organisations like Attock Group, British Council and Standard Chartered Bank.
Struggling with Employee Screening?
Get answers to frequently asked questions about background checks / screening cost, guidelines, check references etc. This eBook is a compilation of all of the background screening related questions you ever needed answers to:
- Does a candidate have to give consent to process a background check / screening?
- How long does it take to conduct a background check?
- When should I conduct pre-employment checks?
- How often should I screen employees?
- How to collect references and what to ask?
- How much does it cost to conduct a background checks?
- What is he difference between employment history verification and employment reference?
- How do I check on entitlement to work?
- How to conduct identity checks?
- What will a financial regulatory check show?
- Is it possible to identify conflict of interest during checks?
- What is a bankruptcy check?
- What about directorships and shareholding search?
- Can I have access to a criminal watch list?
- Anti-money laundering check?
- Can we conduct FACIS (fraud and abuse control information system) searches?
- … and MORE!
Taken as a whole, is the perfect primer for any HR professional, business leader and companies looking to avoid employee background screening risks. It provides the tools and knowledge needed to make the right decisions.
Download your “Employee Background Screening FAQ” FREE ebook now!
The CRI Group™ has been safeguarding businesses from fraud, bribery and corruption since 1990. We are a global company based in London, United Kingdom. Our experts and resources are located in key regional marketplaces. These are across the Asia Pacific, South Asia, the Middle East, North Africa, Europe, North and South America. Our global team can support your organisation anywhere in the world. For more details about the CRI Group™ or to schedule a meeting with us, click here.
Stop Gender Based Violence: Incorporate Risk Assessment Into Your Due Diligence Process
Gender Based Violence: Incorporate Risk Assessment Into Your Due Diligence Process
Gender based violence is constantly on the rise – research by the UN Women, “The economic costs of violence against women” suggests that the cost of violence against women is 2% of global GDP, equivalent to US$1.5 trillion – incorporating gender-based violence into risk and mitigation analyses is a must. The company and country-level economic costs of violence include losses in productivity and increases in health and legal costs according to UN Women, “Ending violence against women”
Gender-based violence is known to increase in emergency situations, and the global COVID-19 pandemic has increased the urgency across the globe. During this global pandemic with long-lasting effects, the rising rates of violence are impacting every country and sector. Incorporating an analysis of gender-based violence can help to mitigate the risks of a future that looks very different than it did even three months ago.
UNICEF has launched the 2022 Covid-19 Diligence Tool Criterion. This tool equips investors to understand the risk their investments are exposed to because of gender-based violence and to incorporate that risk assessment into the due diligence process.
Due diligence is a standard process that all investors undertake when deciding whether and how to invest in a company. This tool is designed to align with standard diligence processes for direct private investments. It also offers recommendations and tools that investors can use to mitigate the risks of violence. The risk assessment is also relevant to public investors at the sector and market levels.
Covid-19 Diligence Tool Criterion highlights the areas of focus in due diligence to determine a company’s exposure to risks created by gender-based violence in the company. This tool provides you with company-level due diligence questions that can help you mitigate any risk:
- Is the company leadership, including the board, aware of potential regulatory changes?
- Have any policies been reviewed or changed in response to the pandemic?
- How has the company responded during the crisis? Have disaster mitigations been measured, effective, and gender-balanced?
This tool is one component of a broader global effort to ensure the right to live free of violence and toward greater gender equality. Download the report now.
The mere process of asking questions about gender-based violence creates an impact and could result in improved practices and business.
Staying one step ahead of any critical risk to your organisation is part of being an effective business leader. Contact us today to get started on implementing a robust program that will serve you well for years to come. Get your FREE QUOTE now!
Let’s Talk!
Don’t leave hiring to chance. Take a proactive stance with the highest level of background screening as a part of your essential corporate strategy. Contact us today to learn more about our full range of services to help your organisation stay protected.
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.
Meet the CEO
Zafar I. Anjum is Group Chief Executive Officer of CRI Group™, a global supplier of investigative, forensic accounting, business due to diligence and employee background screening services for some of the world’s leading business organizations. Headquartered in London (with a significant presence throughout the region) and licensed by the Dubai International Financial Centre-DIFC, the Qatar Financial Center – QFC, and the Abu Dhabi Global Market-ADGM, CRI Group™ safeguard businesses by establishing the legal compliance, financial viability, and integrity levels of outside partners, suppliers and customers seeking to affiliate with your business. CRI® Group maintains offices in UAE, Pakistan, Qatar, Singapore, Malaysia, Brazil, China, the USA, and the United Kingdom.
Contact CRI Group™ to learn more about its 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 risks posed by third-party partnerships.
Zafar Anjum, MSc, MS, CFE, CII, MICA, Int. Dip. (Fin. Crime) | 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:
Our CEO has been Invited to Speak at The Fraud Outlook 2022 Webinar
The Fraud Outlook 2022 Webinar
Corporate Research and Investigations Limited (CRI Group™) is delighted to unveil our place at The Fraud Outlook 2022 Webinar, which is being held from 12:00 to 13:00 on Wednesday 23 February on Zoom. We’re delighted to be involved. Book your seat now!
Our CEO has been invited to speak at the Fraud Advisory Panel forthcoming webinar, which will take a forward look at some of the current and emerging global fraud threats and what they mean for practitioners. It will provide a timely update on:
- The current fraud landscape in Europe, the US, the Middle East and Asia
- Key insights into anticipated fraud trends over the next 12 to 18 months
- Implications for counter fraud professionals and businesses.
If you are a counter-fraud professional or a future fraud professional, or you are simply an interested stakeholder, we invite you to join us online. Book your seat now!
Guest speakers are:
Olivia Allison, Senior Managing Director, K2 Integrity
Olivia is a senior managing director in the Investigations and Risk Advisory practice for K2 Integrity, resident in London. She has extensive expertise helping large private, state-owned and publicly listed companies carry out investigations into fraud, bribery, corruption and other misconduct. Olivia has also worked closely with a range of entities to improve their governance and controls, including in Russia, Ukraine, Kazakhstan and other emerging markets. Her practice has been particularly focused on oil and gas, mining and extractive industries, as well as healthcare, retail and financial services.
Joanne Taylor, Senior Managing Director, K2 Integrity
Joanne, a senior managing director at K2 Integrity, has 20 years of legal, investigations and financial crime compliance experience, which includes fraud risk management, anti-bribery and corruption, regulatory enforcement and investigations experience working within the financial and legal services industries. She has extensive experience in leading investigations relating to conduct issues, fraud, bribery & corruption and AML, and her previous roles have included Global Head of Whistleblowing and Global Deputy Head of Anti-Fraud Bribery & Corruption at a major European bank.
Zafar Anjum, CEO, CRI Group™
Zafar is the chief executive of Corporate Research and Investigations (CRI Group™) – building a 32 years’ career in anti-corruption, fraud prevention, protective integrity, security and compliance, Zafar Anjum is a highly respected professional in his field. As a trusted authority in fraud prevention and securities among corporate clients, government agencies and industry groups, he is known for creating stable and secure networks across challenging global markets.
With an impressive educational background coupled with his industry expertise, Zafar Anjum is often the first certified global investigator on the scene when multi-national EMEA corporations seek to close compliance or security gaps.
Starting his educational background in 1989 with his Bachelor of Arts Degree; he then went on to earn a Master of Science in Counter Fraud and the Counter Corruption University of Portsmouth in the United Kingdom along with specialized knowledge and certification in Fraud Investigations, Fraud and Financial Crimes, Corporate Fraud Control and Anti-Corruption. He was also awarded with Distinction in Master of Fraud and Financial Crime and included in Executive Dean’s List of 2016 by Charles Sturt University, Australia.
All while continuing to earn his LL.M Legal Practice (Intellectual Property) from the University of Law in the United Kingdom, which he was completed in February 2019. Alongside enhanced further capabilities and competencies, specifically in the Bribery Risk Assessment framework, he has ICA International Diploma in Governance Risk and Compliance, ICA International Diploma in Anti-Money Laundering and ICA International Diploma in Financial Crime Prevention from the International Compliance Training Academy in the United Kingdom which is mapped and are also awarded in association with Alliance Manchester Business School, The University of Manchester.
His training and business acumen give Zafar Anjum in-depth precision when dealing with fraud risk management, security consultations, crime investigations, crisis management, risk governance, event security and strategic threat management for industry leaders seeking proactive long-term risk prevention.
His leadership abilities create strong collaborative relationships among prevention teams, crime investigators, government officials, and business executives seeking dynamic solutions across international marketplaces.
For industries needing large project management, safeguard testing and real-time compliance applications, Zafar Anjum is the assurance expert of choice for industry professionals. CRI Group™ invites you to schedule a quick chat with Zafar to discuss any current and emerging global fraud threats to your organisation.
GET IN TOUCH:
t: +44 207 6861415 | m: +44 (0)7588 454959
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.
The Fraud Outlook 2022 Webinar Agenda:
| 1200: | Welcome speech and introduction by the chair |
| 1205: | The current or emerging fraud trends being seen by CRI® Group in the Middle East, Turkey, Pakistan and Malaysia (especially any differences) and predictions for the next 12 – 18 months by Zafar Anjum, CEO of CRI Group |
| 1220: | The current or emerging fraud trends K2 is seeing in the US and Europe and any trends anticipated over the coming 12 – 18 months by Olivia Allison and Joanne Taylor, Senior Managing Director of K2 Integrity |
| 1240: | Q & A session |
| 1300: | Session end |
Details: UK time
Delegates: Counter fraud professionals/future fraud professionals and other interested stakeholders
Costs: Free FAP/FFPN members; £25 + VAT Non-members
About Fraud Advisory Panel
The Fraud Advisory Panel is a respected, influential and independent voice of the anti-fraud community. We champion best practices in fraud prevention, detection, investigation and prosecution and help people and organizations to protect themselves against fraud. Our members are drawn from all sectors – public, private and voluntary – and many different professions who are united by a common concern about fraud and a determination to do something about it.
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 established for ISO 37001:2016 Anti-Bribery Management Systems, ISO 37301:2021 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.
Happy holidays!
As we move into 2022 and seek new opportunities, know that CRI™ is here, as your partner, to help you by establishing the legal compliance, financial viability, and integrity levels of outside partners, suppliers, employees and customers seeking to affiliate with your business. We are working closely with our internal teams to ensure your 2022 business goals are met, and we are continuing to support you in the manner you are accustomed to and fully deserve.
2021 has been filled with a multitude of victories. As 2021 draws to a close, I want to take the opportunity to look back on a year that turned out much differently than anyone could have imagined. Over this past year, we have added staff, new clients and new services, 2021 saw an expansion in our service capabilities with our 3PRM™- Certified solution, Anti-Money Laundering Advisory services and BS 7858:2019 Screening investigations solutions (CRI™ is the only BS 7858 certified background screening services provider in the UAE and across the Middle East); in addition to announcing the opening of our new offices in Turkey (Corporate Research and Investigations Danışmanlık Hizmetleri Limited Şirketi). For more, we have released our end of year open letter talking about our projects and accomplishments across all regions.
While it was challenging in many ways, it also showed how strong we are as a company – even in the most challenging times. And the success of the CRI™ is based on the relationships we have built over the years, and we really wouldn’t be where we are without you. We are grateful for the opportunity to work with and for you, and this past year has been a pleasure.
As the end of the year approaches, we know there will be many challenges ahead. But we are so excited we all that 2022 has in store for us – enthusiasm and anticipation are building around new opportunities in all our locations worldwide. Stay tuned for more details in the new year.
Both on behalf of our entire CRI Group™, as well as personally, I hope that when you’re celebrating the holidays with friends and family, you look back on the year with the same sense of accomplishment that we all should feel and thank you for your continued trust in us.
Best,
MSc, MS, LLM, CFE, CII, CIS, Int. Dip. (Fin. Crime), MICA, MIPI, MAB
Group Chief Executive Officer
(Certified Fraud Examiner)
(Certified International Investigator)
(MSc Counter Fraud and Counter Corruption Studies, University of Portsmouth UK)
(Master of Fraud and Financial Crime – CSU Australia)
LL.M Legal Practice (Intellectual Property)
t: +44 7588 454959 | e:
2021 Fraud Week: Prevention is Key
The 2021 Fraud Week: Prevention is Key!
Every year, for one week in November, organisations around the world embrace a movement aimed to minimise and prevent fraud and corruption. International Fraud Awareness Week (“Fraud Week,” for short) is November 14-20, 2021, and CRI® Group has been an enthusiastic Official Supporter since the very beginning of this important campaign.
According to the ACFE, the world’s largest anti-fraud association and founder of Fraud Week, organisations worldwide lose an estimated 5 per cent of their annual revenues to fraud. To make things worse: “A single instance of fraud can be devastating: the median loss per fraud case was $145,000, and more than a fifth of the cases involved losses of at least $1 million.”
But there is good news. For Fraud Week, the ACFE offers some basic steps any organisation can take immediately to lessen their vulnerability to fraud:
- Be Proactive. Adopt a code of ethics for management and employees. Evaluate your internal controls for effectiveness and identify areas of the business that are vulnerable to fraud. Find out more about what an Ethical code of conduct is and what should it cover?
- Establish Hiring Procedures. When hiring staff, conduct thorough background investigations. Check educational, credit and employment history (as permitted by law), as well as references. Check out the consequences of neglecting background screening
- Train Employees in Fraud Prevention. Do workers know the warning signs of fraud? Ensure that staff members know basic fraud prevention techniques, here are some Tips on Identifying and Preventing Employee Fraud
- Implement a Fraud Hotline. Fraud is still most likely to be detected by a tip. Providing an anonymous reporting system for your employees, contractors and clients will help uncover more fraud. Find out more on how to set up an Ethics & Compliance Hotline.
- Increase the Perception of Detection. Communicate regularly to staff about anti-fraud policies, ways to report suspicions of misconduct, and the potential consequences (including termination and prosecution) of fraudulent behaviour.
At CRI Group™, our experts are trained to help organisations implement the above measures. Our integrity due diligence and risk management services focus on preventing fraud before it happens, not after the fact, when it is often too late to recover stolen funds and assets.
In one case study, a multinational company engaged in the provision of equipment and supplies used by the medical industry contacted CRI Group™. The client wished to contract with a company and wanted to ensure that there were no regulatory or reputational problems associated with the potential partner, and thus wanted to know their track record, integrity and reputation.
During the course of this integrity due diligence, CRI Group™ local operatives focused on whether the company in question was a legitimate business, and sought to identify the key players running operations both in Egypt and Iraq for the company in question. However, questions arose: Research showed no physical locations; the office address was found to be a residential site with no indication of business operations. No commercial relationships in Iraq were evident.
Local operatives further investigated the company’s distribution capabilities in the country, especially to the north and south, as claimed in a questionnaire provided to the client. Yet no information was found from any source to corroborate the company’s claims. Additionally, discreet interviews with local individuals found that no one was aware of the company.
Scepticism was confirmed, CRI Group™ discovered that the company’s principal was previously charged with “criminal breach of trust” and there was still a trial proceeding with regional trial courts. Three other civil damages claims against the principal were discovered, with USD $1.2 million claimed in liabilities.
CRI Group™ helped the client avoid becoming entangled with a fraudulent business and an alleged criminal – protecting the client from making a bad business deal that could have resulted in severe economic loss and a potentially damaged reputation.
Our due diligence services can help put any organisation on the right track to being better protected and positioned to prevent and detect fraud – not just during Fraud Awareness Week, but year-round. Contact CRI Group™ today.
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 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.
Tackling Corporate Fraud in the Middle East
Tackling corporate fraud in the middle east has become even more challenging during the pandemic. ICAEW Insights sat down with our founder and chief executive, Zafar Anjum, to discuss the rising levels of corporate fraud in the middle east during the pandemic.
Find out how CR™ is using AI to investigate wrongdoing; from fake degrees and doctored CVs to false insurance claims and bogus bills, our corporate fraud investigators in the Middle East have seen it all. Zafar told ICAEW his firm was busier than ever as the pandemic triggered a rise in white-collar crime cases across the region.
From its base in London, CRI has been helping firms in middle east regions like Qatar, Dubai, Abu Dhabi and Saudi Arabia. Regions where anti-fraud frameworks are still being built out inside the embryonic corporate regulatory regimes that govern the Middle East.
“We’ve seen a lot of insurance fraud claim investigations, fake bills, fake debts and fraudulent certificates designed to cheat insurance companies,” Zafar said. “Covid allowed internal controls to be relaxed; people are working from home, so the usual check and balances are missing.”
Nascent Regulatory Regime
Last year, PwC research found corporate fraud was on the rise across the region, with nearly half of all local companies reporting at least one occurrence in 12 months. Zafar said the lack of counter-corruption model legislation such as the UK Bribery Act 2010 often meant policing the business areas such as the Dubai International Finance Centre (DIFC) fell to private companies as the regulator doesn’t have the resources to cover the scale of the problem.
“In the Middle East, the issues relating to fraud and corruption are of concern because there isn’t the legislation when compared to developed countries. The definition of fraud and fraudulent activities are different across the Middle East,” he said.
The DIFC was established in 2004 to create a safe and constant upward regulatory environment for companies to do business. One of its aims was to attract investment from London and Wall Street firms and other corporates from both continents. A regulator was created to monitor the market, and the set-up was replicated for the Abu Dhabi and Qatar financial business districts.
The economic “free zones” have relied on firms themselves to help shape the regulatory framework, Zafar said, which has created a mixture of frameworks as standards are broadly aligned with the UK or US markets.
“It’s not national-level legislation, which carries its own problems. There have been scandals, and a lot of that centres on fraudulent financial statements, investment scams,” Zafar said. “A prevalent problem is vendor/third-party screening and false claims, especially during the bidding process. Some firms exaggerate their capabilities and are not able to deliver.”
Investor Scams on the Rise
A big part of CRI ’s work is analysing financial statements, checking backgrounds, and working with compliance teams to root out bad actors. Zafar said investors scams were also on the rise across the UAE; because the country is ripe for development, some fraudsters had found it easy to prey on foreign victims who are drawn to the opportunities but unwilling to carry out proper due diligence.
The UAE’s family offices are a driving force of industry, and the name carries significant weight regarding deals. “It’s very risky to invest without carrying out the proper checks, and unfortunately, a lot of people come in blind,” Zafar said.
“Fake property claims are rife. It can be individuals who are targeted or small groups of foreign investors. One case involved a handful of US investors who wanted to invest in some economic and humanitarian projects. They wanted to create jobs, other activities, but fell in with people who weren’t with the families they claim to be a part of.”
Family names are often taken by scammers and used to convince investors to part with their cash fairly frequently, Zafar said. Because many people don’t care about due diligence, it can end up costing millions of dollars,” he said. “It’s so hard to recover the money, to catch the fraudster. If the victims don’t have local consultants or experts, it can be hard to trace back and recover the damages.”
An investor group puts its trust — and its funds — in the hands of an outside business partner without considering a due diligence check on the individual.
Eighteen months into the partnership, the individual has succeeded in fleecing the group of more than $6 million and is still at large. Investigators such as CRI™ are increasingly turning to artificial intelligence and machine learning tools to help with screening. Zafar said great strides had been made in tackling corruption and bribery.
Public and Private Investigation Partnerships
Databases of politically exposed individuals, or persons with links to crime, on watchlists or have criminal activity linked to their name or accounts are rapidly being populated for use by regulators and private investigators.
“We’re trying to prove that there is a role for AI in detecting crime and that it can be a part of the investigative process. Machines will scan publicly available databases, criminal cases and the like, and we can check if firms have been blacklisted by authorities such as the Asian Development Bank, IMF or World Bank, which is really helpful.”
In the past, these checks would have to be carried out by hand, one by one. “It’s hard, almost impossible! Name matches are probably the largest problem in the Middle East.
You cannot find a person with the first name Mohammad or last name Khan; you’ll get billions of matches, so we need to develop a database that builds on this with other information. There isn’t a nationwide electoral database in any Middle East region, so you can see how much work still has to be done.”
Credit history, employment checks and previous addresses are a handful of ways the files can be built out, Zafar said, and his team is working on ways to streamline that process. There was no concept of background screening in 2008 when Zafar’s team started, and despite having come a long way, he said they still encounter fraud on a massive scale. However, they still encounter fraud on a huge scale, he said.
Alarming Numbers
“Sometimes applicants try to falsely fill the gap in their CV, which is dangerous because we don’t know if they’ve spent time in jail,” he said. “More common red flags are fake degrees and fake previous employment references. We found one in 20 applications for a job had fake degrees, experience letters, or fake references in some regions. It’s a huge number, and some of the universities were prestigious too, which makes it quite alarming.”
Another big area of focus is auditing gifts and donations passed through a company concerning projects carried out. His team works with companies to ensure their anti-bribery controls are as robust as possible, given the tough penalties on offer.
“It’s a criminal liability for a company, and the directors will be liable if they don’t have the proper anti-bribery procedures in place,” Zadar said. “Accounts and financial teams are critical to making sure firms have proper internal controls.”
CRI is also on a mission to stamp out “box-ticking” compliance, which has traditionally been a problem across the Middle East due to the nascent regulatory framework. “If you’re conducting audits, nothing will happen if this is the way; you’ll never spot the problem,” he said. “The role of accountants, whether internal or external, to shape the controls and make sure they are implemented effectively.”
He said bribery through sales commissions, waste for public service, sexual extortion or sextortion as a form of corruption could be rife in some sectors. It was up to companies to ensure money wasn’t being paid outside official channels to staff.
“We understand it’s a process for some firms who are not used to doing it this way, but we’re here to help,” he said. “Companies need to establish their compliance documentation and make sure it’s up to the standard. The most important areas are due diligence and anti-bribery policies. This should not be a paper-based box-ticking exercise, it has to be implemented, and every employee must know the company believes in zero-tolerance of corruption.”
Visit ICAEW’s Fraud hub for related articles and case studies, or to see the original article, click here.
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:البريد الإلكتروني info@crigroup.com
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