Fraud Investigation & Dispute Services
Our Fraud Investigation & Dispute Services practice advises corporations and their legal counsels on complex business matters that involve financial, fraud and forensic investigations, litigations, regulatory compliance and economic damages arising from disputes.
EY is on the cutting-edge in current trends in fraud and forensic investigations and serves as a quality-focused liaison between its clients and the legal process. With over 2,000 professionals globally, some of the world’s largest companies and many of its best-known law firms turn to EY.
Our main services are:
We have extensive industry-specific experience and knowledge across the risks associated with fraud and misconduct. Our fraud examination team rapidly assists you when you identify red flags such as tips arising through whistleblowers that would be the indicators of business fraud and other potential wrong-doings.
We can help you trace, freeze and recover assets; identify the root cause of the issue and quantify the damage - all with minimal disruption to your business.
Our key services:
- Fraud investigations (asset misappropriation, financial statement fraud)
- Bribery and corruption investigations
- Financial crime investigations (money laundering, terrorist / terrorism financing)
As fraud examiners, we help you locate relevant direct and indirect evidences through performing:
- Suspect / whisteblower interviews and interrogations
- Forensic reviews
- Forensic data analysis
and provide you with a summary report that narrates findings and when appropriate, recommendations.
Our team of trained fraud investigators includes Certified Fraud Examiners (CFEs), engineers from different disciplines (civil, mechanical, electronics, computer, etc.), forensic accountants, forensic technology and corporate intelligence experts. While performing fraud investigations we also utilize our global forensic network and forensic technology capabilities.
We have extensive experience across the many different dispute resolution mechanisms and jurisdictions and have provided independent and objective financial advice to lawyers, corporations and individuals involved in litigations, arbitration or mediation to analyze liabilities and damages.
We offer varied but interlinked services in commercial disputes including claim preparation and rebuttal (counter claim analysis), and expert witness testimony throughout the litigation process mainly in the following fields:
- Assessment of the breaches of the commercial contracts and warranties
- Understanding the issues, and substantiating the associated costs and damages such as loss of profits or business interruption
- Assistance to litigators with electronic disclosure of documents and other evidence, utilizing our Forensic Technology skills and tools
Commercial dispute resolution is a field requiring a combination of various skill sets. We have a varied team that includes forensic accountants, engineers from different disciplines (civil, mechanical, electronics, computer, etc.), forensic technology and corporate intelligence experts. Our market leading experts bring strong proven track records of providing independent evidence to Court or Tribunal on liability, causation and quantum issues with a demonstrated track record of helping clients navigate successful outcomes. We have hands on approach, and can clearly articulate financial and business issues relating to complex contentious claims.
- Expert Witness Services
When disputes cannot be resolved, parties often resort to litigation. In such circumstances, it is often the testimony of an expert witness that determines which party will prevail.
Our Expert Witness Services are effective throughout the different stages of a dispute, from advising clients in the preliminary stages to providing expert evidence for a local Court or Tribunal.
We work with law firms and directly with our clients to provide independent, objective Expert Witness Services. We assess the quantum of a specific claim and/or give evidence.
- Commercial and Contractual Dispute Services
We bring commercially astute advice to support clients from multiple sectors throughout the negotiation, mediation, arbitration and litigation processes. Our extensive experience in quantification gives us the ability to identify innovative, alternative ways of quantifying a claim, and we can draw on this experience to identify further potential areas of the claim which may have been overlooked.
- International Arbitration
Our international arbitration team has significant experience providing expert evidence in International Arbitration proceedings such as under the International Chamber of Commerce (ICC) and International Centre for Settlement of Investment Disputes (ICSID). Our team can provide expert advice on accounting and quantum matters on complex international disputes across all major sectors such as construction, telecommunication, life sciences, healthcare, retail, oil & gas etc.
- Insurance Claims
We prepare, present and settle complex property, business interruption, fidelity, product liability and product recall insurance claims; facilitate successful claim resolutions outside of litigation or other proceedings and work with claim data accumulation, engineering, and strategic planning, support clients negotiations of insurance coverage.
- Competition Law
Our understanding of Competition Law helps our clients avoid regulatory action and mitigate the cost of litigation.. We can check adequacy of compliance procedures, seek to reduce potential fines or damages payable, help challenge regulators’ decisions, and support actions to claim damages from others.
- Merger and Acquisition
We provide assistance to resolve post acquisition or shareholder disputes mainly originated from the interpretation of Sales and Purchase agreements.
Forensic Technology and Discovery Services
Across all sectors, clients are faced with a rising tide of disputes, investigations and regulatory reviews. Handling the relevant electronically stored information (ESI) in a consistent, defensible and cost effective way has become a key business challenge.
We help our clients to navigate these challenges and create solutions that are tailored to their specific needs.
Computer "IT" Forensics and eDiscovery
To respond to requirements to compile evidences, we offer a range of services to assist companies such as:
- Identifying relevant individuals and data sources
- Gathering data (On site or remote)
- Providing focused or full system capture
- Imaging of servers, workstations, network shares
- Capturing unstructured data such as emails or text documents
- Imaging of smartphones and mobile devices
- Analyzing the contents of electronic storage media to recover deleted and/or hidden files
- Reviewing the files to narrow key information that might be evidence to relationships, inconsistencies and irregularities.
We investigate hacking, data-breach and intellectual property theft when they occur and, more importantly, help stop them happening in the first place. Our cybercrime diagnostic can also regularly review your network for indicators signaling that a breach has already occurred.
Software license forensics
Software license management is a complex activity for both publishers and customers alike. In addition, software piracy continues to blight the software industry. Our team uses forensic technologies to execute in-depth software license reviews and determine the provenance and proliferation of pirated products.
We combine deep forensic investigation knowledge with advanced analytical techniques such as investigative data linking, social network analysis, artificial intelligence and predictive modeling to prevent and detect fraud, waste and abuse.
Anti Fraud Services
Fraud is a significant threat for entities all over the world. Companies should implement a strong anti-fraud program that helps them to prevent fraud or detects it in its early stages, and improves fraud awareness among their employees, vendors, and customers through training and commitment to ethical behavior. An anti-fraud program is one of the key elements in management's company-level control structure.
We primarily focus on assisting our clients to understand the importance of aligning their existing anti-fraud programs with their overall strategic goals and objectives.
Provide ability to leverage knowledge for each fraud type/fraud scheme (e.g., corruption, asset misappropriations, and fraudulent statements / financial statement fraud) and fraudster profile (e.g., customer, vendor, employee, third party, etc.)
- Provide sector specific insight from leading practices in anti-fraud and detection
- Train employees on fraud awareness, ethics, fraud detection and etc.
- Develop policies and procedures such as codes of ethics, fraud response plans, etc.
- Develop practical recommendations on what could be done to help strengthen and improve the company structure to fight with fraud
- Assist in establishing whistle-blowing hotlines
A robust anti-fraud program will:
- Provide tangible evidence of a culture of integrity
- Help to prevent fraud and facilitate early detection
- Improve monitoring and training
- Limit unpleasant surprises that affect reputation, credibility, and company value
- Increase confidence of major stakeholders and the satisfaction of external auditors
- Reduce potential for class action lawsuits
Forensic Contact Risk Services
Forensic competencies are becoming increasingly in demand to support clients in contentious or complex commercial situations where litigation, or any other formal dispute resolution procedure, is not yet contemplated or may not be applicable.
This, usually, is due to the potential disruption to a commercial arrangement and the potential damage to an important commercial relationship. As far as possible, the client wishes to obtain remediation while maintaining a “business as usual” relationship. This approach is evident where clients have important on-going commercial arrangements that are critical to the continued success of their business.
Similarly, our forensic competencies and know-how of “what can go wrong” are becoming increasingly in demand by clients when they are considering litigation risk management strategies before entering into commercial relationships or when considering the accounting aspects of draft contracts.
We assist companies, partnerships, private individuals, governmental/state/public bodies and other entities, and where applicable, their legal counsels, in considering matters pertaining to contracts with third parties.
In commercial relationships, we assist and advice our clients in interpreting contracts including information to be prepared in accordance with the contractual requirements and during the negotiation stage of the contract clauses to mitigate litigation risk.
Some of our services:
- Advising on pre-contractual matters such as the financial and accounting aspects of sale and purchase agreements,
- Advising where a client is in a loss-making contract and wishes to evaluate its options under the contract,
- Performing reviews to assess compliance with the terms of a contract.
Corporate Compliance Services
We help companies manage risk, investigate alleged misconduct and measure the financial implications when issues arise.
We bring together members of our team with sector specific knowledge and extensive experience of working on risks related with:
- Bribery and corruption
- Money laundering
- Unfair competition and anti-trust
- Data protection and privacy
- Mis-selling and counterfeiting
We understand the exposure, manage the risks and provide advice or support a response when necessary.
With the help of compliance assessment – improvement and monitoring services, we assist clients monitor risks and relevant controls related to compliance risks.
We help management to understand their processes, the risks inherent within the processes that could cause objectives not to be met, and test the controls that management has in place to mitigate those risks. We identify gaps in design of controls and/or their operating effectiveness and provide recommendations to management on how to eliminate the gaps and mitigate the risks.
Our compliance review services include FCPA (Foreign Corrupt Practices Act), UK Bribery Act, fraud risk management, Anti-Bribery and Corruption (ABAC), Anti-Money Laundering (AML), sanctions, competition and other business integrity related compliance requirements including those mandated by internal policies and procedures
Understanding who you conduct business with has become more than just good business practice – it is smart compliance. Multinational organizations are rapidly adjusting to enforcement standards that hold companies responsible for the actions of their business partners and vendors. Complying with these standards require effective third-party due diligence.
- Our Integrity Diligence team helps you design, implement and maintain effective third-party diligence systems on a global scale. Our multidisciplinary teams work internationally to develop in-depth research and analysis on the background and reputation of third parties, joint venture partners or acquisition targets; and support better-informed decision making across your business. We combine comprehensive analysis of publicly available data with the insights of teams across our global Forensics network.
- We assist our clients through conducting in-depth research on acquisition targets, joint venture partners, vendors or customers. The support can be stand-alone, or part of a wider Due Diligence engagement. Our research includes reviews of online material, retrieval of physical records, reference checks and leveraging of our industry and market knowledge.
The main areas that we perform our research in are:
- Date of incorporation
- Ownership type
- Current and prior shareholders
- Current and prior key personnel/directors
- Nature of business
- Taxpayers identification number
- Prohibition from public procurement
- Partnerships & associations
- Education records
- Employment records
- Court cases identity verification
- Social media (Family, social & business relations)
- Reported criminal activities
- Bribery and corruption
- Financial irregularities
- Intellectual property violations
- Money laundering
- Regulatory non-compliance/violations/sanctions
- Tax violations
- Illegal activities
- Other concerns, etc.
Executives face personal liability for the corrupt activities of their employees. Here we look at anti-bribery and anti-corruption analytics to help you manage this risk.
Fraud Investigation & Dispute Services
P.A. Marianna Kofou
+30 210 2886 209
Local articles about fraud
Global Forensic Data Analytics Survey 2018