In “Ray Dookhie on Fraud Risk and Audit” (11 June 2020), Raymond Dookhie, managing director at K2 IntelligenceFIN, discusses what entities should be looking out for related to fraud in an uncertain environment. According to Ray, fraudsters are like chameleons who change their appearance to blend in their environment. To help combat this fraud, Ray provides mitigation tips for entities, including:

  • Risk assessment—if a company hasn’t completed a risk assessment yet, now is a great time to conduct one to understand gaps in current programs and where processes and safeguards can be strengthened. 
  • Fraud awareness communication and training—an entity’s guard cannot be let down because processes may take longer; it is important that the same safeguards and procedures are adhered to as pre-pandemic.
  • Greater scrutiny—engage a second “set of eyeballs” on review and approval, from the front end of the process to the back end.

Listen to the full podcast, hosted on The FCPA Compliance Report.