Attachment of assets owned by a Judgment Debtor held by the Unclaimed Financial Assets Authority
Asset tracing can be relevant in the context of unclaimed financial assets and in particular, the process of identifying and recovering unclaimed financial assets. It is also relevant in identifying abandoned assets owned by a judgment debtor for the purpose of execution.
Anti-Bribery and Anti-Corruption Assistance
Anti-Bribery and Anti-Corruption Assistance Occupational fraud typologies highlight different forms of fraud, one of which is corruption. Business corruption is categorized as the second most common type of occupational fraud, with the primary examples being bribery, conflict of interest, improper gratuities, and economic extortion. Bribery and corruption pose significant risks to organizations as they may […]
Threat detection spectrum and advanced threat hunting.
Threat detection spectrum and advanced threat hunting. A network environment can be defined as a communications system that ties multiple users together. In such an environment, there is a need to establish control measures to detect advanced threats in the network. The security mechanism measures should identify the threat’s movement in, out, and laterally within […]
Why Customer Due Diligence is Necessary in Combating Money Laundering
Customer Due Diligence (CDD) is the process of verifying the identity of customers before establishing a business relationship with them as well as assessing their risk level. CDD assists businesses to manage risks of financial crime which include money laundering and terrorist financing. Criminals launder money mainly using the financial system to transfer funds. Financial […]
Fraud risk assessment as a component of a fraud risk management
Fraud risk assessment as a component of a fraud risk management Fraud risk assessment is a component of fraud risk management strategy that helps an organization and its stakeholders protect itself against fraud. It is a technique by management to detect and understand their fraud exposure, fraud risks, and the efficiency of existing anti-fraud controls […]
Asset Tracing as a means of debt recovery in Corporate Insolvency Litigation
Asset Tracing as a means of debt recovery in Corporate Insolvency Litigation. Introduction In simple terms, asset tracing is the process of identifying assets through investigations for a particular purpose [without going into the details to answer questions as to who has a legal right to the assets so traced]. Asset tracing can be distinguished […]
10 key components of an effective data destruction policy
10 key components of an effective data destruction policy; Introduction; The right to erasure or destruction of data is guaranteed to data subjects by Section 40 of the Data Protection Act. Under the Data Protection Act, a data subject may request a data controller or processor to erase or destroy personal data held by them […]
“Snitches don’t have to get stitches” – why you need a Whistleblower Policy in your Organization
“Snitches don’t have to get stitches” – why you need a Whistleblower Policy in your Organization; Introduction; According to the Merriam-Webster Dictionary, one of the exceptions to the semantic realm of ‘snitches get stitches’ is the word “whistleblower”. A whistleblower is defined as a person who reveals something clandestine or who informs against another. In […]
Best Practices for preventing life insurance fraud-post pandemic
Best Practices for preventing life insurance fraud-post pandemic Introduction; Insurance fraud occurs when someone deliberately lies to obtain a benefit that they are not entitled to or fabricates a claim. Insurance fraud can also occur when an Insurer intentionally denies one a benefit that is due, under an insurance policy. While fraud is rampant in […]
The Different forms of payroll fraud and how they can be prevented
In the Occupational Fraud 2022: A Report to the Nations recently published by the Association of Certified Fraud Examiners [ACFE], ACFE highlighted that payroll fraud is among the most common frauds that occur in small businesses. Over the years, the corporate sector has seen an increase in payroll fraud perpetrated by employees altering the payroll […]
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