Advanced Forensic Data Analytics instrumental to address data protection, privacy risks

Forensic Diaries: A Forensic & Integrity Services Blog

Digital transformation has been a key enabler for accelerated business growth in India Inc. However, it has also augmented risks related to data protection, data privacy and cybercrime. EY’s Global Forensic Data Analytics Survey 2018 titled How can you disrupt risk in an era of digital transformation? has underlined that organizations should harness the power of Forensic Data Analytics (FDA) by embedding it in compliance programs, mitigating rising threats and maintaining the sanctity of data.

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Expanding the arc of global corporate compliance

Forensic Diaries: A Forensic & Integrity Services Blog

Today’s world of corporate compliance is characterized by an increasing number of enforcement actions related to bribery and corruption. Co-operation and information sharing between enforcement agencies on multi-jurisdictional cases is also increasing. Parallelly, nations such as Brazil, Canada, Mexico, France, India, Russia, Spain and Korea are either adopting anti-bribery laws or strengthening existing legislations. By the end of the last year and when the US administration changed, 27 companies had reportedly paid approximately US$2.5 billion in settlements under the US Foreign Corrupt Practices Act (FCPA), the flagship anti-bribery law. With FCPA reaching its 40th year, 2016 has perhaps been a record-setter of sorts.

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Navigating through fraud and corruption risks in APAC

Forensic Diaries: A Forensic & Integrity Services Blog

The past year has been burgeoning with growth and expansion opportunities for most countries across the globe, especially in the Asia Pacific region. Increased emphasis on cross border transactions, foreign direct investment and digital inclusion have been some of the contributing factors for the rapid economic and sustainable growth of this region. While countries in the Asia Pacific swiftly move up the ladder of development, organizations continue to grapple with issues related to fraud and corporate misconduct. Thus, detection and deterrence has become crucial than ever before to remove bottlenecks and conduct businesses in a streamlined manner.

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Overcoming risks and fostering an ethical business environment in Bangladesh

Forensic Diaries: A Forensic & Integrity Services Blog

The current global environment is ripe with opportunities for developing countries. Bangladesh’s economic scorecard is well-aligned with this trend, as it showcases significant growth in line with other markets especially in the Asia Pacific region. The current Gross Domestic Product of the country stands at 6.8%, and has consistently been above 6% over the last three years. This progress is led by the country’s thriving ready-made garment and telecom sectors that is backed by strong private investments, substantial export figures and large remittances in infrastructure and services. In 2015, the country achieved a new milestone with foreign direct investment surpassing $2 billion; this was a 44% increase from the previous year.

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Combating fraud and corruption risks in the IT-ITeS sector – recap of 2016 and outlook for 2017

Forensic Diaries: A Forensic & Integrity Services Blog

it-ites2016 was a watershed year for the Indian information technology (IT-ITeS) sector. Many companies continued on an upward growth trajectory, and, as per a report by India Brand Equity Foundation, the sector is looking to achieve 12%-14% growth by the end of the financial year 2016-17. Data from the report further highlights that the Indian technology sector is expected to triple its current annual revenue to US$ 350 billion by FY 2025.

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Cyber incident response remains low in corporate India

Forensic Diaries: A Forensic & Integrity Services Blog

Over the last few years, there has been an exponential rise in targeted cyber-attacks which are aimed at financial gain. Incidents around ransomware, data breach incidents and Distributed Denial of Service or DDoS attacks also made headlines worldwide. Today, a company’s ability to deal with such situations effectively is a priority but at the same time, it can be difficult due to the nature, complexity and volume of cyber incidents. What could separate the better prepared company from the rest is their ability to predict the impact of an incident, after it is discovered. In line with this, our report, Responding to cybercrime incidents in India attempts to answer the question, are businesses operating in India ready to deal with cybercrime incidents?

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Proposed amendments in Arbitration Act for faster resolution of commercial disputes

Proposed amendments in Arbitration Act for faster resolution of commercial disputes

Forensic Diaries: A Forensic & Integrity Services Blog

14H02606_RF_130-x130India has emerged as one of the most preferred destinations for investments and trade. Sectors such as infrastructure, real estate, e-commerce, and information technology have witnessed increased collaboration and entry of foreign investors. However, as per the World Bank report on Ease of doing business rankings, India is still ranked at just 142.

In August, 2014 the Law Commission of India (Law Commission) submitted its 246th Report to the Government of India. The Law Commission envisaged the country to emerge as a global arbitration hub, and hence seeks to bring more objectivity to arbitration law in India.

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