Alexis Bell, CEO of Fraud Doctor LLC, discusses challenges in fraud investigation overseas. At least 5 different ways your fraud investigation can be impacted when it is conducted internationally:
• Political Instability. Anytime when a new regime takes over in politically unstable countries it disposes of the legal system wholesale, and recreates it. The resulting legal uncertainty can throw into fraud investigations in the jurisdiction.
• Cultural Norms. Actions that are taken for granted as fraudulent in the United States may be acceptable overseas.
• Gaps in the Legal Process. In some countries, fraud investigators must work directly community leaders to find solutions due to the absence of local applicable law.
• Third Party Risk. Fraud investigations can take you to countries you do not expect. Even small companies need to understand the operations of the third parties they work with to understand the geographic exposure to fraud.
• Understanding Legal Nuances. It is important to understand the nuances of the applicable law in the countries in which your company may be exposed to fraud. For example, challenges in EU privacy laws impacts a fraud investigators’ access to information in the EU that is usually readily available in the United States.
Alexis C. Bell, CFE, PI is a pioneer in the international antifraud industry. She helps companies address their fraud management concerns by designing brand new programs or assessing and enhancing their existing antifraud structure. She is passionate about her work and engages others to align with the company’s vision.
Fraud Doctor LLC is a consulting firm offering proprietary products and services such as global program design & implementation for fraud management and global fraud risk assessment. Additional services include antifraud & investigative training, private investigation services, cell phone & small device digital forensics, cyber intelligence investigations, technical surveillance countermeasures (TSCM), transaction level data analysis project plans for antifraud and SOX.
LINKS
Fraud Doctor LLC https://fraud-doctor.com/
Alexis C. Bell, CFE, PI: alexis.bell@fraud-doctor.com
Leona Lewis is the host of the Masters of Disaster podcast leonalewis@complyethic.com
Masters of Disaster® is the registered trademark of ComplyEthic Consulting LLC in the United States.
