Mazars in Hong Kong | Let's talk Forensic

Ep1: Developing a fraud response plan 

A well designed and thought-out “Fraud Response Plan” allows a company to do the right thing at the right time to minimize harm, maximise recovery of losses and protect one’s organization from financial, legal and reputation risk.  Watch this podcast on how to design such a plan. 

EP2: Latest SFC / HKMA issues as relate to Fraud and Integrity Risk and regulatory environment

Failure to comply with regulatory requirements will not only result in fines to banks and licensed corporations, but also cause long-term damage to their reputation in the market. In this podcast, the latest Securities and Futures Commission (SFC) and Hong Kong Monetary Authority (HKMA) enforcement action relating to failures to comply with anti-money laundering related regulation by banks and other financial institutions in Hong Kong are illustrated with some recent cases.

EP3: Proactive fraud risk management and monitoring of illegal behavior: case study Tencent — by Star Chen, Director of Forensic Investigation Services, Mazars in Hong Kong

In this podcast, occupational fraud, proactive fraud risk management, and monitoring of illegal or unethical behavior are focused with an example of the Tencent proactive monitoring program to illustrate the crucial components for establishing and maintaining an effective anti-fraud program.

EP4:X-File’s Investigation: China case study 

Investigations that initially appear potentially damaging and difficult can often result in positive outcomes. In this podcast, we will share a case study from Shanghai and explain how to help the company’s management conduct a thorough and exhaustive investigation.

Interviewing is a core investigation skill and to be truly effective requires a lot of training and experience. In part 2 of this episode, we will continue to share details of the case and describe how the findings of the investigation ultimately resulted in positive outcomes for our Client.

Ep 5 Part I: Fraud & Corruption in the Pharmaceutical Industry in Asia

Opportunity to commit fraud or engage in wrongdoing is often down to inadequate or poorly designed and monitored internal controls, policies, procedures, and security measures. In this episode, our expert will introduce the fraud and corruption typologies that exist in the pharmaceutical industry in Asia.

Expenses fraud remains one of the most prevalent ways for an organization to hemorrhage cash. There is pressure, opportunity, and rationalization on both sides to pay and receive bribes to secure the sales. In this part, we are going to share the insights about expenses fraud and bribing doctors. Click here to listen our podcast now!

During the covid-19 pandemic, there are online medical promotion events to create an opportunity for unethical sales teams to pay bribes to doctors directly. In this part, our expert will share his experiences with speaker fees, tendering fraud, and product diversion.

Not only do fake products affect a company’s market share, but pharmaceutical companies have corporate responsibility and legal duty to minimise the risk of harm to society and prevent counterfeit drugs and products entering the market. In this part, our expert will continue to talk about some of the fraud schemes and typologies facing the pharmaceutical industry in Asia.

The greatest risk to a company come from within and the third parties. A company should know who they are in business with and ensure they are accountable for their actions. In this part, we will talk about pre-employment screening and third party due diligence.

Performing fraud and corruption risk assessments, evaluating internal controls and procedures, and monitoring control activities are essential to detect and minimize fraud and corruption. In this last part of episode 5, our Forensic investigation experts will talk about what an ideal company’s risk management program should identify, assess and evaluate as well as investigation response and corrective action.