Covid-19 has significantly impacted the global economy, resulting in severe financial and operational repercussions for many organisations. In addition, the pandemic has also created new challenges to companies regarding their fraud risk management and compliance programmes.
Invited by the German Chamber of Commerce in Hong Kong, Ms. Annie Chan, our Managing Director of Forensic and Regulatory Compliance Services at Mazars in Hong Kong shared her valuable insights at the hybrid seminar: Anti-Fraud Challenges amid the Covid-19 Pandemic on 2 Mar 2021.
During the seminar, Annie discussed the impact of Covid-19 on the fraud risks faced by businesses. She also highlighted that the key is to go back to the basics of fraud prevention and detection i.e. to create a fraud averse environment, as well as to watch out for operational red flags. She also shared her insights on fraud investigation and the importance of having a fraud risk management contingency plan in place. The seminar was well received by participants from different industries including banking and finance, electronics, trading etc. and generated much discussion.