Australia’s mining boom gave rise to some of the largest resource projects the world had seen. And with big projects come big disputes. The scale and complexity of these projects mean that data analytics and Technology Assisted Review of information are critical to a successful outcome.
Bribery and corruption
The Australian Federal Police are looking closely at foreign bribery and corruption, especially for corporates with business operations in countries scoring low on the Transparency International Corruption Perceptions Index. Part of the reason may be the charges of foreign bribery against Rolls-Royce in January, resulting in a huge Deferred Prosecution Agreement with the UK Serious Fraud O ffi ce and the US Department of Justice. Due diligence, risk assessments and compliance reviews must be front of mind for prudent executives and directors. Whistle-blowers also remain a hot topic, with calls for stronger incentives and protections in Australia.
Cooking the books
It’s an off ence perhaps as old as accounting itself, but old-fashioned fraudulent accounting is never off our radar. The Accounting Professional and Ethical Standards Board announced that from 2018, accountants can now set aside confi dentiality when illegal acts are suspected by a client or employer.
Corporate espionage is more prevalent than ever, thanks to the many ways in which theft of commercial information can take place. Think of the cloud, bring-your-own mobile devices, personal email accounts, USB drives and, yes, hard copy documents too. Best to have control in place to prevent theft from occurring, but also a plan to act quickly to minimise loss should the worst occur and sensitive information makes its way to a competitor.
Australia’s real estate market has emerged as a potential target of money laundering. Money laundering is an issue we’re watching closely, after details were published of the ‘Global Laundromat’ scheme involving Russian money and British banks. And in March, the Federal Court handed Tabcorp the largest civil penalty in corporate Australia’s history for breaching the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.
Independent Commission Against Corruption (ICAC) is holding ongoing hearings and calls for a Royal Commission into the banking industry continue in the wake of allegations of impropriety in Australia’s banks. Forensic investigations have been crucial to the presentation of clear and factual evidence before these inquiries.
Cyber attacks against some of the world’s largest companies and organisations, including the UK’s NHS, have left corporations scrambling to adjust. It’s increasingly vital to train employees about ransomware, create backup and disaster recovery policies, and update software to the latest versions. Our forensic technology specialists suspect that this issue isn’t going away soon!
As one of Asia-Pacific’s most trusted forensic groups, businesses and courts rely on us to ask the right questions to reveal the full picture and to present what we find in an independent, clear way in reports or as expert witnesses in court.
At KordaMentha Forensic, we uncover, analyse and clarify facts at the centre of disputes, investigations and other sensitive matters. We have one of the largest teams of forensic investigators, forensic accountants and forensic technology specialists in Asia-Pacific. Our experts are regularly called on to provide evidence in high-profile disputes and investigations.
We offer the following specialist services to a range of clients, including corporations, lawyers and government:
- Forensic accounting and dispute analysis
- Forensic technology, cyber and e-discovery
- Investigations, corruption and fraud risk management
- Data analytics
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