Radical changes needed to counter white-collar crime

Mumbai, 20 October, 2016

  • Share

Mounting cases of white-collar crime have impacted businesses adversely, and subsequently led to an increase in anti-fraud fighting professionals in India. To recognize their potential, EY Forensic & Integrity Services and Association of Certified Fraud Examiners (ACFE) Western Region Chapter announced Divya Mohan from SAP (India) as the winner of the ‘Forensic Trailblazer Award’, for excellence in forensic investigations. Mr. Satish Mathur, Director General of Police, Maharashtra felicitated the winner and launched a white paper on The changing dynamics of white-collar crime in India.

An independent judging panel comprising Mr. Sanjeev Dayal, former Director-General of Police, Maharashtra and former Director-General at Anti-Corruption Bureau, Justice S.P. Kurdukar, former judge at Supreme Court of India and Mr. Pradeep Kadu, Joint Commissioner, Sales Tax, Maharashtra led the selection process among participating candidates. The winner will go to ACFE’s Fraud Conference in Singapore and get one week of forensic technology training at EY.

Arpinder Singh, Partner and Head- India and Emerging markets, Forensic & Integrity Services, EY said, “The cost and impact of white-collar crime has proved steep, and is increasing in magnitude, incidence and intricacy. Mitigating these risks will require sweeping changes at a macro as well as micro level, and also involve the expertise of anti-fraud or forensic specialists to deter current and future threats. With this in mind, the Forensic Trailblazer Award was designed to recognize the most promising forensic talent and their contribution, and I wish the winner all the best.”

“Increased public awareness, changing mind-set and technological disruption has created a challenging environment. As fraudsters attempt to break ethical and regulatory barriers; corporates, government and the society at large need to join forces with the mutual objective of curbing white-collar crime. This will spur economic growth, improve investor confidence and build a better future.” adds Satish Mathur, Director General of Police, Maharashtra.

The exposure to the risks of white-collar crime has augmented the vulnerabilities associated with it. EY’s white paper, The changing dynamics of white-collar crime in India, unravels the impact of white-collar crime and the need to undertake drastic changes with respect to technology, transparency, ethical frameworks and strengthening the compliance ecosystem. The future of investigations will also be redefined by ramping up skill-sets and creation of a wider pool of anti-fraud or forensic professionals. Initiatives like the Forensic Trailblazer Award are expected to provide an impetus to combatting white-collar crime, and the demand for such professionals will increase significantly going forward.

About Forensic Trailblazer Award

Forensic Trailblazer Award was launched by the Association of Certified Fraud Examiners (ACFE) Western Region Chapter, in collaboration with EY Forensic & Intergrity Services to determine the most accomplished forensic professional in India. This unique initiative seeks to uncover India’s best talent among corporate and government professionals across business functions such as risk, compliance, legal, audit, security, human resources as well as core forensic. The process involved a two stage assessment conducted pan India, based on written and practical knowledge of investigations. The winner was decided through an independent judging panel, comprising stalwarts from investigation and enforcement background.

Notes to editors

About EY

EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for or clients and for our communities.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.

This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients.

About EY’s Forensic & Integrity Services

Dealing with complex issues of fraud, regulatory compliance and business disputes can detract from efforts to succeed. Better management of fraud risk and compliance exposure is a critical business priority — no matter the size or industry sector. With approximately 4,500 forensic professionals around the world, we will assemble the right multidisciplinary and culturally aligned team to work with you and your legal advisors. We work to give you the benefit of our broad sector experience, our deep subject-matter knowledge and the latest insights from our work worldwide.

About ACFE

The Association of Certified Fraud Examiners (ACFE) is the world's largest anti-fraud organization and premier provider of anti-fraud training and education. Together with more than 70,000 members, the ACFE is reducing business fraud world-wide and inspiring public confidence in the integrity and objectivity within the profession. The ACFE Mumbai Chapter #160 was formed in 2011 and is a not-for-profit organization dedicated to fraud prevention education through meetings, seminars, workshops and professional networking opportunities for our members. Usually referred as ACFE Mumbai Chapter, it is registered as “Western Region Chapter of the Association of Certified Fraud Examiners (ACFE), India”.