Fraud & Forensics
After years of intense economic downturn, we still find ourselves in a world of relative uncertainty, where most corporate leaders are still focused on measures to alleviate the effects of the downturn and to ensure the survival of companies.
What is certain, however, is the fact that the downturn has challenged even our most robust institutions, driving up fraud and economic crime, and the propensity of businesses to engage in disputes of all kinds. As our economy reels itself out of its current state, we believe the following will happen:
- The long-term effects of the downturn will undoubtedly be felt more intensely than ever;
- Many long-term fraud schemes, which have started as we entered the economic downturn, or even before, will be uncovered; and
- The economic crimes that many managers have been involved in, as a direct result of the downturn, will be discovered.
These will all lead to more investigations and business disputes aimed at settling past scores. PwC can help clients identify and manage risks related to safeguarding their assets and fulfilling commitments:
- Assessment of fraud and economic crime risks of an organisation as part of risk management, in teaming with internal audit, and on behalf of shareholders and/or management (governance);
- Review of fraud risk management processes and whether the internal controls effectively cover fraud risks;
- Implementation support/fraud deterrence (i.e. data analytics, fraud awareness training, etc.).
- Corporate fraud investigations on behalf of shareholders, management, lawyers, etc.;
- Investigations of allegations related to corruption, asset misappropriation;
- Regulatory investigations such as anti-money laundering, US Foreign Corrupt Practices Act (FCPA), UK Bribery Act, competition and antitrust;
- Forensic support to internal audit teams (planning and execution).
- Identification of sources of digital evidence and capture of forensically-sound images from various sources of data;
- Preservation of the captured image or data via enforcement of strict chain of custody rules in order to maintain the evidentiary value and admissibility of evidence in a Court of Law;
- Recovery of possible deleted or corrupted data and data fragments;
- Analysis and transformation of data into information;
- Reporting of facts and opinions about data, including expert witness testimony, wherever required.
Successes
We conducted independent E-Discovery and Computer Forensics for a Fortune 500 company facing an employment litigation. By analysing collected data and performing forensic data recovery procedures and keyword filtering, our team was able to identify and retrieve data of evidentiary value to the case. The investigation report was submitted in the form of an Affidavit to the Greek Courts.
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