Compliance & Fraud risk management
Every business works hard and long to build a good reputation and create added value. As an entrepreneur, you do this in a strong and complexly regulated society.
However, the reputation and added value that you, as a business, achieve can disappear in an instant when your company or its executives are accused of unethical or illegal behavior. Or when it becomes a victim of fraud itself. Sooner or later, you will encounter one of these situations, risking your future. That is why our specialized advisors focus on more than just your numbers.
Our advisors start from a general premise that ethical and sustainable business practices pay off. It is the best guarantee that your company will become a self-learning organization that acts in compliance with the law. In their compliance advisory services, they focus on:
General Risk and Liability Management:
Our advisors support companies in setting up a general risk management system. They focus on the responsibilities and potential liabilities of executives and the company, identifying which specific risks may be relevant (e.g., corruption prevention). They combine a purely legal perspective and in-depth knowledge of case law with an audit-technical and process-oriented analysis.
AML Compliance Management:
The financial sector, financial-legal advisors, and specific industries are subject to specific Anti-Money Laundering (AML) regulations. This requires a policy at the organizational level, appointment of individuals with specific AML-related tasks, an extensive Know Your Customer (KYC) policy, necessary training for your employees, and monitoring the effectiveness of all these measures. Our advisors assist financial institutions, fund managers, other financial-legal advisors, and specific sectors such as football clubs and gold dealers. They also offer these services to companies that want to better map their business relationships and the associated risks (3rd party risk management).
Whistleblower Compliance Management:
Recent Belgian legislation requires companies with more than 49 employees to develop and implement a whistleblower policy. We believe that a whistleblower scheme should not only be an additional obligation. It is a tool for executives to gain a constructive understanding of what is happening within the organization and to develop an effective sustainability strategy. Research shows that it is also the best means to detect (internal) fraud.
Our advisors assist sector organizations and individual companies in drafting the actual policy, implementing it, possibly linking it to a suitable IT platform, following up on incoming reports as whistleblower officer/report manager, and conducting targeted investigations into (internal) fraud or other malpractices. They safeguard the authenticity of (digital) evidence, analyze, report, and assist in legal proceedings when necessary. They take into account different fraud perspectives (victim and suspect) with the aim of maximizing your damage recovery.
Want to know more about Compliance & Fraud risk management?
Contact Joris Lambrechts,
our expert in Compliance & Fraud risk management