Early Warning Signals of Corporate frauds

Early warning signals of corporate frauds with specific emphasis on Satyam Scam project has been taken to identify a set of exceptional transactions, that will act as benchmark for the industry to investigate the financial transactions for the possibility of the fraud. The early warning signals of corporate frauds is…

RBI Circular on forensic auditing

On 16th September’2009, Reserve Bank of India issued a circular to the Chairmen and the CEO’s of the banks. RBI has expressed serious concerns about the deteriorating quality of the assets. While discussing certain cases of frauds of exceptionally large amounts, the Board for Financial Supervision (BFS) has expressed grave…

AML related RBI notifications

  Notifications issued by RBI 05.11.2009 – CFT- Unlawful Activities (Prevention) Act, 1967 – Obligation of RRBs 29.10.2009 – CFT- Unlawful Activities (Prevention) Act, 1967 – Obligation of State and Central Co-operative Banks 30.09.2009 – KYC / AML Standards / CFT / Obligation of State and Central Co-operative Banks 29.09.2009 – KYC Norms /…

Corporate Corruption can kill the business

“After completing my education, I practiced law in the Washington D.C. office of WilmerHale, an international law firm of 1200 attorneys, where I represented Fortune 500 companies in securities fraud investigations and litigation.” Dr. Andrew Spalding revealed to Riskpro team in the Fraud, Forensics and Corruption Symposium. Dr. Spalding is…

Kammer, World Bank and Indian frauds

“I participated to Indiaforensic’s (IF) fraud conference in June 2008, and, despite IF being a young organization, I was extremely impressed by the capacity and maturity of its staff. I had the privilege of sharing the podium with first class speakers from some of India’s main corporations, currently operating on…

ACFE CEO Speaks to Fraudtoday

“The world continues to get smaller due to advances in technology.  Companies will continue to expand globally.  You can be a small, one-person company at home in India and sell to a company in Europe with nothing more than a computer.  Unfortunately, the differences in legal systems are probably the…

State of frauds in Russia

Kirill started his career 17 years ago, when he was a member of the team setting up the first Russian language full text Internet archive/library. His area of work was to find ways for fusion of various information sources, visualization of very large databases and other information intelligence tools. Somehow,…

Khaki to Suit – An Encouraging Journey

Senior inspector of Cuffe Parade police station Arun Wable quit the Police force in April’2008 to join Deutsche Bank as Vice President of Antifraud Unit. Arun Wable is now a reputed name in the banking frauds domain. He is one of the most notable Certified Forensic Accounting Professionals [Certification awarded…

Preventing frauds of Rs.100 crores every year

This is the story of a common man who started his career in a small CA firm based in Pune and now he is the Managing Director of one of the biggest antifraud company in retail banking. The activity of Fraud Control Units was started in India by Citi Bank….

Policy for using Logoes

As a part of ongoing drive to promote the forensic accounting profession, Riskpro has come up with the new logo for the “Certified Member Firms” of Indiaforensic. This logo is artistically designed to add up marketability to the forensic accounting services ofered by your firm. This new logo seeks to…