Financial disruption and fraud: lessons learnt and strategies to build resilience

The current COVID-19 crisis is unprecedented and many companies have been forced to make significant changes in response to the crisis. The risk of corporate fraud and misconduct during this time remains high and in some cases, has significantly increased.

Fraudulent activity often only comes to light following an economic downturn as parties who have engaged in fraud struggle to meet their contractual obligations. 

Certain jurisdictions in Asia Pacific remain flagged as "high risk" jurisdictions when it comes to the prevalence of fraud and corruption. Given that in most cases, fraud is cross-border in nature, companies are often unclear in relation to what remedial actions to take. The impact of fraud on an organisation can include financial loss, financial penalties, reputational damage, potential disbarment from tendering, etc. To protect themselves, companies need to understand the pace, direction, and path along which fraud is moving and the trends shaping the future of fraud management.    

Please join our Asia Pacific Partners from the Singapore, Hong Kong and Sydney offices in a webinar where they will cover:

·        Multi-jurisdictional case studies examining the legal regimes of Singapore, Hong Kong and Australia. The case study will cover the response of the company to fraud, including the investigation process, protocols to be followed, legal consequences of fraud on the company and steps to prevent future instances of fraud; and 

·        Preventative measures and practical takeaways for companies based in Hong Kong, Australia and Singapore to build corporate resilience.

The webinar will be an interactive session. CPD accreditation subject to Hong Kong Law Society approval. Please e-mail us at sueann.wilson@clydeco.com should you have any questions.