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Fraudsters Targeted: KPMG Rolls Out Anti-Fraud Measures

In an effort to combat growing instances of fraud, embezzlement, and cybercrime, accounting firm KPMG has introduced a range of anti-fraud measures aimed at protecting assets and preventing violations of fiduciary duty.

Independent Integrity Monitoring Services

KPMG’s independent integrity monitoring services are designed to detect and prevent fraudulent activities in complex contracts, ensuring that clients’ assets are safeguarded. With extensive experience in fraud and abuse prevention, KPMG provides professional services to identify potential risks and implement effective controls.

Bermuda’s Anti-Bribery Act

KPMG has also highlighted the importance of compliance with Bermuda’s Anti-Bribery Act, which came into effect in 2018. The legislation requires commercial organizations to prevent bribery by persons associated with them, imposing severe penalties for non-compliance.

• Under the Act, organizations are expected to implement robust procedures to prevent bribery, including:
  • Risk assessments
  • Due diligence
  • Communication
  • Monitoring
• KPMG has provided guidance on the six principles that organizations should adhere to in preventing bribery, including:
  • Top-level commitment
  • Proportionate procedures
  • Risk assessment
  • Due diligence
  • Communication
  • Monitoring

Forensic Technology

In addition, KPMG’s forensic technology capabilities enable organizations to effectively manage vast amounts of electronically stored information, reducing the risks associated with data management. The company’s experts provide a range of services, including:

• Information life-cycle management
• Enterprise data risk management
• Disposition challenges

With KPMG’s sophisticated data analytics capabilities and managed review services, clients can detect fraud and misconduct more efficiently and effectively. The company’s differentiated approach combines people, process, and technology to tackle the complex eDiscovery landscape.

Conclusion

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In an era of increasing fraud and cybercrime, it is essential for organizations to implement robust anti-fraud measures to protect their assets and reputations. KPMG’s comprehensive range of services provides clients with the expertise and resources needed to prevent fraudulent activities and ensure compliance with regulatory requirements.

By leveraging KPMG’s forensic technology capabilities, clients can effectively manage data risks, detect fraud and misconduct, and maintain a strong reputation in the market.