Fraud risk management consulting

Economic crime is a growing menace to businesses in Thailand and perpetrators are developing ever-more elaborate methods of concealing their crimes. Our economic crime survey found that one-third of respondents were fraud victims in one year. Also, cybercrime and procurement fraud are two of the most commonly reported types of economic crime.

Surprisingly, accident or chance plays a significant role in fraud detection – often through internal and external tip offs. But reliance on luck is not an adequate anti-fraud framework. Even when companies have controls to detect economic crime, these can be rendered ineffective by management override or collusion. Besides, external audits are proven to be one of the least effective controls to fight against fraud.

PwC is long recognised as the world’s leader at fraud detection and prevention. Our Bangkok team of professionals has unparalleled technology capable of carrying out complex, multi-stream investigations involving electronic discovery, forensic accounting and discreet and overt enquiries. We approach cases from all possible angles to uncover fraud throughout the organisation and develop concrete measures to strengthen preventative systems. We can detect threats that include bid rigging, dummy entities, asset siphoning and profit skimming. Once a problem is identified, we help the client to develop a comprehensive fraud prevention programme to limit future fraud risk and detect additional wrongdoing. Our team has identified millions of dollars in stolen assets from our clients and has worked to recover those assets.

Our services include:

  • developing a fraud risk management framework and strategies tailored for your organisation and for the unique Thai business environment
  • identifying IT-based fraud threats, both internal and external
  • developing whistleblowing programmes to enhance management’s ability to respond to threats
  • conducting risk assessments to detect and measure fraud risks at each level of your organisation
  • continuous auditing for suspicious activities, transactions, and events of the selected business cycles
  • assisting in the design and implementation of remedial steps including improving processes and controls to reduce the risk of recurrence, and
  • conducting interviews and surveillance activities to detect current fraud and mitigate future risk.

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