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Setting preventive measures and standards

Combating fraud and corruption is an essential part of compliance management. Violations and offenses not only have a very negative impact on the reputation of the organizations involved but can also lead to significant fines upon discovery.


The main tasks that prevention should encompass include:

  1. Forensics: To prevent future cases of fraud and corruption, it is essential to understand past criminal activities. This involves systematically investigating and analyzing these actions.
  2. Data Analysis: One of the most crucial steps in preparing for comprehensive data analysis is the collection of all relevant data in a single database. Through data analysis, database anomalies, process patterns, and irregularities can be identified.

Successfully addressing these tasks requires more than just good intentions. An essential step towards efficient and sustainable management is the establishment of an Investigations Office.

Relevance

Prevention in fraud and corruption control is crucial for several reasons

Ideally, offenses and misconduct that never occur are the primary goal of fraud and prevention efforts. Therefore, institutions and companies are increasingly investing in prevention rather than reactive measures. The aim is to avoid misconduct rather than conducting post-event root cause analysis and damage control. IT-supported processes and controls, detailed process guidelines, and policies form the essential basis for such measures. At the same time, the innovation of fraudsters necessitates both holistic and case-specific measures and precautions in prevention efforts.

Your Benefits

With our experience in fraud and corruption control and our core competence in RegTech, we enable our clients to establish preventive measures and standards. Insights from the past, predictive solutions, and the utilization of external data sources help our clients proactively prevent cases of damage.

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Project references

Healthcare - Investigation Project

Supporting the project in collaboration with authorities, including recording, reviewing, and documenting business transactions through data collection and analysis.

Banking Sector - Special Audit

Project and investigation support for a BaFin special audit for the compliance function according to §35 WpHG, including coordination with the external auditor, project management, and audit-proof documentation.

Banking Sector - Investigation Project

Assistance with investigations related to an enforcement action by the FRBNY, including the establishment of an Investigations Office and coordination with regulatory oversight.

Banking Sector - Fraud Investigation/Processes

Defining investigation processes and corresponding business requirements for the implementation of a Case Management System, including implementing a concept and process for cross-departmental reporting on fraud risks.

Your Experts

Dr. Heiko Mauterer

Senior Partner

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Daniel Lovric

Partner

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Jobs @ 4C

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Thank you for your trust. We look forward to hearing from you.

 

Claudia Bauer


+49 89 599 882 0

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Maike Ring


+49 89 599 882 0

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