Ensuring KYC norms are being adhered to and AML controls are strengthened is gathering momentum across the globe. While banks in India up their ante to
address the stink being raised by the revealing reports of Cobrapost, the global landscape is equally scathed with Federal Reserve [UK] and Administración Federal
de Ingresos Públicos (AFIP), the Argentinian federal tax agency raising concerns on the functioning and controls at Citibank and HSBC respectively.
Serious Fraud Investigation Office [SFIO] in the process of setting up a forensic audit laboratory along with revamping its Market Research & Analysis Unit to enable it to function as an intelligence unit. SFIO also has the powers to recommend prosecution in white collar crimes.
AuthBridge Newsletter Issue 1- Effectiveness of Background Screening PracticesAuthBridge
Risk of facing an employee fraud or corporate fraud can be mitigated to a large extent by adopting background check practices. As Executive Director-HR of Bharti Airtel, Krish Shankar, nicely puts it, background screening is an effective tool for furthering risk mitigation strategy.
For more information visit www.authbridge.com
Money-laundering smut on banks refuses to subside as
Cobrapost ropes in further 10 more banks in its ambit
while RBI continues to stay on the fence. FINRA fines
firms “for failing to establish and implement adequate
anti-money laundering (AML) programs and other
supervisory systems to detect suspicious transactions”
While Phaneesh Murthy faces repeat charges of sexual
harassment at workplace, President Pranab Mukherjee
assents to the Sexual Harassment Bill making it into a
law covering the rights of domestic help and agricultural
labour of both organised & unorganised sectors.
AuthBridge Research Services Pvt. Ltd, a leading provider of background screening and risk management services, has released the Employee Background Screening Annual Trend Analysis Report (ATR). The report provides an extensive insight into the trends in employee discrepancy rates over the years
CFO Compliance Guide 2019 | Paycor - New York- Long IslandAdam J. Brier
Top Concerns by Chief Financial Officers that impact revenues, margins and using benchmark analytics is critical for profit, and non-for-profit organizations.
The Delhi high court, in a leading judgement delivered on 3rd June, 2016, has declared service tax audit being conducted by Central Excise and Service tax department as ultra virus, in the matter of Mega Cabs Vs UOI. The matter was argued by Mr. J.K. Mittal, FCA as advocate of the petitioner.
AuthBridge Newsletter Issue 1- Effectiveness of Background Screening PracticesAuthBridge
Risk of facing an employee fraud or corporate fraud can be mitigated to a large extent by adopting background check practices. As Executive Director-HR of Bharti Airtel, Krish Shankar, nicely puts it, background screening is an effective tool for furthering risk mitigation strategy.
For more information visit www.authbridge.com
Money-laundering smut on banks refuses to subside as
Cobrapost ropes in further 10 more banks in its ambit
while RBI continues to stay on the fence. FINRA fines
firms “for failing to establish and implement adequate
anti-money laundering (AML) programs and other
supervisory systems to detect suspicious transactions”
While Phaneesh Murthy faces repeat charges of sexual
harassment at workplace, President Pranab Mukherjee
assents to the Sexual Harassment Bill making it into a
law covering the rights of domestic help and agricultural
labour of both organised & unorganised sectors.
AuthBridge Research Services Pvt. Ltd, a leading provider of background screening and risk management services, has released the Employee Background Screening Annual Trend Analysis Report (ATR). The report provides an extensive insight into the trends in employee discrepancy rates over the years
CFO Compliance Guide 2019 | Paycor - New York- Long IslandAdam J. Brier
Top Concerns by Chief Financial Officers that impact revenues, margins and using benchmark analytics is critical for profit, and non-for-profit organizations.
The Delhi high court, in a leading judgement delivered on 3rd June, 2016, has declared service tax audit being conducted by Central Excise and Service tax department as ultra virus, in the matter of Mega Cabs Vs UOI. The matter was argued by Mr. J.K. Mittal, FCA as advocate of the petitioner.
The last five years have been a watershed moment in Indian politics and the economy. The NDA alliance’s grand victory on the agenda of development and good days to come (achhe din) started off on a high note. But after five years, the NDA government stands delegitimized. But what followed was brazen violence against minorities, Dalits, Adivasi, women and marginal sections of the society, systematic destruction of institutions, forced poverty, the decimation of the informal sector, corruption unemployment and a stressed economy. And today, the NDA government stands delegitimized, so much so that it is termed as a quantum leap backwards.
The Centre for Financial Accountability aims to strengthen and improve financial accountability within India by engaging in critical analysis, monitoring and critique of the role of financial institutions – national and international, and their impact on development, human rights and the environment, amongst other areas. For more information visit http://www.cenfa.org Get in touch with us at info@cenfa.org
We also publish Finance Matters, a weekly newsletter on the development finance. The archive can be accessed at http://www.cenfa.org/newsletter-archive/
To subscribe, email us at newsletter@cenfa.org
AuthBridge Newsletter Issue 5- Background Screening is Important Across the H...AuthBridge
Background check is as useful in screening a top ranking executive as it is for verifying the past credentials of a suitable matrimonial match. Background screening becomes an effective process when efficiency and thoroughness is applied to the verification aspects like identity, accessibility, criminality and fitment.
For more information visit www.authbridge.com
Newsletter on daily professional updates- 11/03/2020CA PRADEEP GOYAL
"The more knowledge you have on a certain topic,
the more equipped you are to deal with it."
Here is your Daily dose of professional updates 11.03.2020
IndiaJournal: India in focus as IRS widens its range for targeting offshore ...Nair and Co.
The waves created last year when the U.S. Department of Justice targeted Swiss banking giant UBS for helping individuals evade American taxes with offshore accounts has rippled onto the shores of India. Early this summer, it was reported the Justice department and the Internal Revenue Service turned their eyes toward the subcontinent with letters to HSBC Holdings Plc clients suspected of failing to disclose offshore bank accounts in India.
Taxmann's FAQs & Survey on Faceless AssessmentTaxmann
Topics Covered in Taxmann's eBook:
1. Introduction to faceless assessment scheme
2. Excerpts from the speech of the CBDT Chairman
3. Frequently Asked Questions
• Scope and status of certain existing provisions of the Income-tax Act in light of new provisions of the faceless assessment scheme
• Practical issues relating to procedural aspects of faceless assessment
• Questions on issues relating to the role of the four designated units & A.O. and inter-se coordination
• Some key issues requested to be incorporated in the faceless assessment
4. TAXMANN – AIFTP Survey Results on Faceless Assessment
Cover Story Corporate no longer interested in Bank Licence?
Outlook Rubber
Stats Q2 economic growth at 4.8% signals recovery
Emerging Country Vietnam
In Focus Retail inflation-linked bonds on the anvil
EODB INDONESIA 2018 - 2019 - Starting Up a Business HandbookAydinLemon
Indonesia has progressed significantly in deregulating its economy as its ranking in the Ease of Doing Business (EODB) index for 2018, Further Information : https://www.investindonesia.go.id/en/why-invest/ease-of-doing-business
A full package professional guide with the added skill of financial expertise, regulatory and procedural compliance excellence are fitted for the role of mentoring the budding Agri-preneurs. They may seek the assistance of such professionals/experts in terms of guiding through compliance procedure, financial management and strategies, attracting investors with well business plan, so that they can freely focus upon the core business planning. The experts may help in understanding what type of skills entrepreneurs need at each stage of a mentoring relationship, that is, initiation, cultivation, separation, and redefinition stage.
RBL Bank is one of the fast growing private banks in India. A detailed general environment analysis(PESTEL), Industry analysis(Porter's 5 forces), VRIO analysis carried to look at the strategy analysis and formulated strategy for different business verticals, as part of the Project in MBA
In its eighth year of operations, AuthBridge proudly
re-launches its monthly corporate newsletter to share
its experiences in this evolved Screening Industry.
Much has changed in the environ; national laws, global
compliances, Client perspectives, market dynamics
making it imperative for the screening companies to
evolve, innovate and be alacritous to match strides.
The inaugural April issue features Mr Krish Shankar
Executive Director, Human Resources, Bharti Airtel
in the ClientSpeak segment sharing his views on
Background Screening, its impact and evolution. Future
issues will feature views from our other clients and
experts.
What the Document Management System Revolution Means for Your Business- Busin...Business.com
As the needs of businesses have changed and technology has advanced, document management software (DMS) has too. From new features that allow content to be stored in HTML format to accessible translation services, a DMS revolution is taking place. This whitepaper shares what trends have emerged and how each can positively impact your business.
The last five years have been a watershed moment in Indian politics and the economy. The NDA alliance’s grand victory on the agenda of development and good days to come (achhe din) started off on a high note. But after five years, the NDA government stands delegitimized. But what followed was brazen violence against minorities, Dalits, Adivasi, women and marginal sections of the society, systematic destruction of institutions, forced poverty, the decimation of the informal sector, corruption unemployment and a stressed economy. And today, the NDA government stands delegitimized, so much so that it is termed as a quantum leap backwards.
The Centre for Financial Accountability aims to strengthen and improve financial accountability within India by engaging in critical analysis, monitoring and critique of the role of financial institutions – national and international, and their impact on development, human rights and the environment, amongst other areas. For more information visit http://www.cenfa.org Get in touch with us at info@cenfa.org
We also publish Finance Matters, a weekly newsletter on the development finance. The archive can be accessed at http://www.cenfa.org/newsletter-archive/
To subscribe, email us at newsletter@cenfa.org
AuthBridge Newsletter Issue 5- Background Screening is Important Across the H...AuthBridge
Background check is as useful in screening a top ranking executive as it is for verifying the past credentials of a suitable matrimonial match. Background screening becomes an effective process when efficiency and thoroughness is applied to the verification aspects like identity, accessibility, criminality and fitment.
For more information visit www.authbridge.com
Newsletter on daily professional updates- 11/03/2020CA PRADEEP GOYAL
"The more knowledge you have on a certain topic,
the more equipped you are to deal with it."
Here is your Daily dose of professional updates 11.03.2020
IndiaJournal: India in focus as IRS widens its range for targeting offshore ...Nair and Co.
The waves created last year when the U.S. Department of Justice targeted Swiss banking giant UBS for helping individuals evade American taxes with offshore accounts has rippled onto the shores of India. Early this summer, it was reported the Justice department and the Internal Revenue Service turned their eyes toward the subcontinent with letters to HSBC Holdings Plc clients suspected of failing to disclose offshore bank accounts in India.
Taxmann's FAQs & Survey on Faceless AssessmentTaxmann
Topics Covered in Taxmann's eBook:
1. Introduction to faceless assessment scheme
2. Excerpts from the speech of the CBDT Chairman
3. Frequently Asked Questions
• Scope and status of certain existing provisions of the Income-tax Act in light of new provisions of the faceless assessment scheme
• Practical issues relating to procedural aspects of faceless assessment
• Questions on issues relating to the role of the four designated units & A.O. and inter-se coordination
• Some key issues requested to be incorporated in the faceless assessment
4. TAXMANN – AIFTP Survey Results on Faceless Assessment
Cover Story Corporate no longer interested in Bank Licence?
Outlook Rubber
Stats Q2 economic growth at 4.8% signals recovery
Emerging Country Vietnam
In Focus Retail inflation-linked bonds on the anvil
EODB INDONESIA 2018 - 2019 - Starting Up a Business HandbookAydinLemon
Indonesia has progressed significantly in deregulating its economy as its ranking in the Ease of Doing Business (EODB) index for 2018, Further Information : https://www.investindonesia.go.id/en/why-invest/ease-of-doing-business
A full package professional guide with the added skill of financial expertise, regulatory and procedural compliance excellence are fitted for the role of mentoring the budding Agri-preneurs. They may seek the assistance of such professionals/experts in terms of guiding through compliance procedure, financial management and strategies, attracting investors with well business plan, so that they can freely focus upon the core business planning. The experts may help in understanding what type of skills entrepreneurs need at each stage of a mentoring relationship, that is, initiation, cultivation, separation, and redefinition stage.
RBL Bank is one of the fast growing private banks in India. A detailed general environment analysis(PESTEL), Industry analysis(Porter's 5 forces), VRIO analysis carried to look at the strategy analysis and formulated strategy for different business verticals, as part of the Project in MBA
In its eighth year of operations, AuthBridge proudly
re-launches its monthly corporate newsletter to share
its experiences in this evolved Screening Industry.
Much has changed in the environ; national laws, global
compliances, Client perspectives, market dynamics
making it imperative for the screening companies to
evolve, innovate and be alacritous to match strides.
The inaugural April issue features Mr Krish Shankar
Executive Director, Human Resources, Bharti Airtel
in the ClientSpeak segment sharing his views on
Background Screening, its impact and evolution. Future
issues will feature views from our other clients and
experts.
What the Document Management System Revolution Means for Your Business- Busin...Business.com
As the needs of businesses have changed and technology has advanced, document management software (DMS) has too. From new features that allow content to be stored in HTML format to accessible translation services, a DMS revolution is taking place. This whitepaper shares what trends have emerged and how each can positively impact your business.
CoAchieve Solutions Pvt. Ltd., a subsidiary of Quess Corp Limited, provides HR Solutions with a focus on managed services for Statutory Compliance Management, Payroll Management, On Cloud– HRIS and Employee Background Verification.
There are many tangible and intangible benefits to outsourcing. Paying your employees correctly, ontime and in accordance to the regulatory environment is sole focus of CoAchieve HR Outsourcing Solutions.
Selecting an outsourcing partner with systematic procedures who can support you with insights, can make the difference in ensuring that you get the workflow right and that the transition is seamless.
Our structured compliance management processes and regional teams across India is well equipped with in-depth domain expertise, combined with delivery accountability, and client relationship management with a goal to drive consistent client satisfaction to meet your business objectives.
Statement of witness on issues faced by mr. stampIain Stamp
Prior to its liquidation, Integrity operated a successful IFA business with a client bank primarily built by referrals from accountants and lawyers. Integrity specialised in holistic financial planning for high net worth individuals and business owners. Mr. Iain Clifford Stamp has been facing business as well as financial setbacks due to matters relating to him, Stargate Capital Management (SCM), UK Innovative TI (UKITI) and Integrity Financial Solutions (Integrity) for almost a decade.
According to this statement of witness, Mr. Stamp asserts that the FSA/FCA (Financial Services Authority/Financial Conduct Authority) launched a campaign of persecution against him both before and after creditors' voluntary liquidation of Integrity Financial Solutions in 2009. The FSA/FCA persecution is deliberate and has prevented him from operating as an approved person within the financial services markets since 2009. However, he has never been deemed unfit and he is unaware of any reason why he should not have been granted approved person status in the five separate applications sent to the FSA/FCA since 2009. He also asserts that the FSA/FCA has deliberately constructed a framework that excludes him from working with other regulated firms through FSA/FCA unnecessary investigations and persecution meant to further harm his unregulated businesses and ultimately his own personal resources.
Mr. Stamp believes that the FSA/FCA has maintained a complicit relationship with Halifax Bank of Scotland that are central to the cause of the deliberate strategy employed by the FSA to force him into putting Integrity into creditors voluntary liquidation. Another example of FSA persecution against him is evident from FSA's investigation into IPM following a letter from its MP in 2010. According to Mr. Stamp's statement, the FCA has acted in bad faith by publishing speculations in an SCM First Supervisory Notice that names UKITI and its director (which is none other than Mr. Stamp) by stating that UKITI may have breached the General Prohibition. SCM and Mr. Stamp strongly deny this.
Directions. Please read carefully each of the following questi.docxlynettearnold46882
Directions. Please read carefully each of the following questions and select the best answer
from the choices given (2.5 points each).
1. XYZ Industries, Inc., is incorporated in the British Virgin Islands and is indebted to a US-based
company. You are a financial investigator for a US-based firm and are aware of many properties
owned by XYZ Industries both domestically and internationally. You have been hired to uncover the
beneficial owner to identify available assets for repayment of outstanding debts and restitution of
victims. Which document would best assist the investigator to identify the beneficial owner1
a. power of attorney or designation of corporate agent
b. a mail forwarding notice related to the property filed with the local postal service
c. articles of incorporation and board minutes for XYZ Industries, Inc. filed in the BVI
d. a mutual legal assistance treaty request filed with the BVI seeking all beneficial ownership
records
e. none of the above
2. Your client invested in an international real estate investment company in the Cayman Islands.
Recently, the client learned that her contact at the company was arrested in the USA on money
laundering charges. She wants you to find out more information about the owners of the investment
company. You have learned that the company she invested in was a shell corporation. You seek to
identify the beneficial owners of the shell corporation. Which of the following describes a way to
identify beneficial ownership?
a. determine if there are loans by the company to individuals for no equity
b. determine if a Certificate of Good Standing was filed with the Cayman Company Registry
official
c. determine if the nominee directors hold positions with other companies in the Cayman Islands
d. determine who the authorized signatories are for the company's bank accounts
e. none of the above
3. Global Widget Co. recently acquired a local company in Pakistan, a country with a high level of
state involvement in the economy and history of corruption. Before purchasing the company, Global
Widget hired a major international law firm to conduct a due diligence review and uncover any
potential violations of global anti-corruption laws. When the review came back free of problems or
issues, Global Widget completed its acquisition.
Three years later, Global Widget executives were conducting their first anti-corruption compliance
training with employees from the Pakistan office. During the training session, Global Widget was
alerted by Pakistan-based employees that the distributors the company hires may be bribing local
government officials. Global Widget had not conducted a review of the distributors in Pakistan.
When it looked into the allegations, it found widespread potential Foreign Corrupt Practices Act and
UK Bribery Act violations. What are two weaknesses in Global Widget anti-corruption compliance
program?
a. Global Widget did not include its distributors in Pakistan when it co.
In this edition of Regulatory Focus, the experts in Duff & Phelps round up the latest news and publications issued by the Financial Conduct Authority. Read Duff & Phelps Regulatory Focus August 2018 edition here.
Indian economy towards growth momentum strategic moves neededNeha Sharma
In a recent international survey Indian economy has been rated as the 3rd largest economy of the world, after USA and China, on the basis of Purchase Power Parity (PPP). IMF has also projected a smart recovery of growth rate of Indian GDP to around 5.5% to 6% in next 2 years.
Indian economy towards growth momentum strategic moves neededNeha Sharma
In a recent international survey Indian economy has been rated as the 3rd largest economy of the world, after USA and China, on the basis of Purchase Power Parity (PPP). IMF has also projected a smart recovery of growth rate of Indian GDP to around 5.5% to 6% in next 2 years.
Financial Services Insight NYSDFS Whistleblowing Guidance - Sia PartnersDaniel Connor
Little did we know that the timing of publishing this article on new guidance from the New York Sate Department of Financial Services related to whistleblowing would be such a hot topic in the press....
Dodd-Frank's Impact on Regulatory ReportingHEXANIKA
We previously analyzed how Dodd-Frank and how the new regulations have impacted large banks as well as midsize and small banks. This time, we will look at how the law meant to address one issue (avoid a financial meltdown similar to 2008) might have created other challenges for banks – the most important one that of regulatory reporting:
An ideal CEO should be a person who understands the importance of building great teams, have great organizational skills, possess strong communications skills both internally and externally, a well developed sense of how to motivate people to exceed expectations, and using past failures to develop their instincts and decision making.
Does your Background Screening policy identify all employee related risks?AuthBridge
How have you formulated your organisation’s background screening policy?
Identify and categorise risk parameters, define the scope of screening and appropriate checks, and then design a severity grid along with the procedure of action. As discussed in the previous issues, a background screening policy is at its effective best when these steps are followed.
Employees are the most critical internal resource to an organisation and identification of risks arising out of deploying a workforce needs to be looked into on priority. Answering the questions mentioned in this presentation help in getting a 360 view of risks associated with employees.
Employee Verification | Pre- employment background screening | Employee Screening | Employee background check | Background screening
For more information visit www.authbridge.com
AuthBridge Newsletter Issue 4- Wide Influence of Background Screening AuthBridge
The practice of Employee Background Check has moved beyond the realms of corporate environment. AuthBridge adds value to an organisations' background screening processes and makes hiring more robust. For more info please visit http://bit.ly/17QENuE
You can also visit www.authbridge.com
One of the most common hiring mistakes made by companies is not conducting a thorough background check on the new hire. Having employee background check and background screening in your hiring/recruitment checklist ensures the tedious task of having the right candidate on-board is cut short.
Know more: www.authbridge.com
Employee Verification | Pre- employment background screening | Employee Screening | Employee background check | Background screening
For more information visit www.authbridge.com
5 Top reasons why Business Leaders should be Background Checked intensivelyAuthBridge
Conduct Advanced Background Checks on Top Management/Business Leaders is very important. This presentation highlights top 5 instances that brought disgrace to business and ethical practices. Had the Background screening been done intensively in the first place, such instances could have been avoided. For more case studies visit www.authbridge.com
Employee Verification | Pre- employment background screening | Employee Screening | Employee background check | Background screening
For more information visit www.authbridge.com
How to conduct Effective Exit InterviewsAuthBridge
Exit Interviews can give interesting insights if conducted effectively in a planned and organized manner. AuthBridge adds value to an organisation's Exit Management System and makes exit feedback more actionable.
For more information visit www.authbridge.com
AuthBridge Newsletter Issue 2- Subject Your CXO's to Thorough Background CheckAuthBridge
Employee screening is practically the first step towards strengthening organisational governance, stresses the Executive President- HR of Tata Teleservices Ltd, S. Varadarajan.
For more information visit www.authbridge.com
Best Background Screening Practices: What should your Background Check policy...AuthBridge
Employee Background Check helps in mitigating several employee related risks. We give you the best practices in background screening that can make workforce management more effective.
For more information visit: www.authbridge.com
Employee Verification | Pre- employment background screening | Employee Screening | Employee background check | Background screening
Background Screening Trends- Recession Time Study ReportAuthBridge
The report aims at highlighting discrepancy trends during recession that were found whilst conducting background checks for companies. This report can be in insightful for organisations trying to understand the mitigation of unsafe hiring risks better.
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
We will dig deeper into:
1. How to capture video testimonials that convert from your audience 🎥
2. How to leverage your testimonials to boost your sales 💲
3. How you can capture more CRM data to understand your audience better through video testimonials. 📊
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
1. Ensuring KYC norms are being adhered to and AML
controls are strengthened is gathering momentum
across the globe. While banks in India up their ante to
address the stink being raised by the revealing reports
of Cobrapost, the global landscape is equally scathed
with Federal Reserve [UK] and Administración Federal
de Ingresos Públicos (AFIP), the Argentinian federal tax
agency raising concerns on the functioning and controls
at Citibank and HSBC respectively.
Serious Fraud Investigation Office [SFIO] in the process
of setting up a forensic audit laboratory along with
revamping its Market Research & Analysis Unit to
enable it to function as an intelligence unit. SFIO also
has the powers to recommend prosecution in white
collar crimes.
In this edition we have Mr S. Varadarajan, Executive President – Human Resource of Tata Teleservices
Limited sharing his views on the evolution of and impact of Screening on the hiring processes in his organization and
the Industry. He also speaks on the role of regulatory bodies in ensuring they are synchronized with the industry needs
especially in the regularization of education institutions.
Screening the CXOs has been a largely muted subject and most organizations overlook its import. It is indeed a point
we would like you to ponder on and share your views with us. There are enough instances of frauds committed at the
senior-most levels and the impact it can have on the credibility and existence of the organization.
The case of how a law graduate resorted to multiple forgeries to procure a plum law position, which eventually resulted
in her facing a trial in the New York court makes for an interesting read and clearly depicts the risks of not verifying
before trusting a probable hire.
We continue with sharing our data analysis on trends we see in the screening we conduct across industry sectors and
best practices we are certain will help you strengthen your hiring processes.
Your feedback on the newsletter will help us continue improving it to make it a worthwhile read.
Monthly Newsletter
Volume VIII Issue 2
Editorial
Content
1. News
2. Legal Update
3. ClientSpeak
4. A Point to Ponder
5. Screening Trends
6. Best Practices in Screening
7. Case Studies
8. Products and Services
2. Stirrings within the Nation
Mumbai Company cons HSBC of Rs 330 crore
The Economic Offence Wing (EOW) of Mumbai police have registered a Rs 330 crore cheating and forgery case
against a city-based company and its representatives for duping HSBC by securing investment with fake promises.
The company claimed to have entered into a contract with BBC to upgrade their entire library from 2-D to 3-D.
Investment was sought to purchase technical equipment and programs for upgradation. The bank representative’s
meeting was arranged with an executive who purportedly claimed that he was representing BBC. The bank later
verified with the BBC and found that they had not awarded any contract to the accused. The bank also found that
the BBC representative met with them was a con and all the submitted documents were forged. The bank then filed
the case with EOW.
SFIO plans early warning system to detect fraud
SFIO is expected to prepare a comprehensive framework for fraud prediction model by June this year. The aim is
to “develop an Early Warning System for detection of and to undertake investigation of serious frauds through the
SFIO,” according to an internal Ministry document. The IT infrastructure for the proposed system is expected to be
ready by the end of this year, while the pilot testing is anticipated to begin in September. In addition, SFIO would
be setting up a forensic audit laboratory along with revamping its Market Research & Analysis Unit to enable it to
function as an intelligence unit. SFIO has the powers to recommend prosecution in white collar crimes.
The new Companies Bill, awaiting approval from the Rajya Sabha, would provide statutory powers to the agency
that would help in bolstering its investigation and other capabilities. Forty two cases have been referred to SFIO in
the current financial year and probe has been completed in 15 of them.
Global Ripples
Citigroup told to improve money laundering controls
The Federal Reserve has ordered Citigroup to strengthen its controls against money-laundering, pointing to
problems in subsidiaries including the US unit of Citi’s Mexican bank, Banamex. In a consent order released by
the Fed and signed by the bank, Citigroup pledged to take extensive actions to better comply with the US Bank
Secrecy Act on preventing money-laundering. The consent order did not provide any details on what problems
were unearthed by regulators except stating Citigroup “lacked effective systems of governance and internal controls
to adequately oversee the activities” of the subsidiaries with respect to the BSA and anti-money laundering rules.
The apparent problems involved Citigroup’s key operating subsidiary Citibank, and Banamex USA, the US arm
of leading Mexican bank Banco Nacional de Mexico, also controlled by Citigroup. They also involved other group
subsidiaries in international banking. The consent order lays out a detailed schedule of actions Citigroup and the
subsidiaries must take to tighten its compliance, and reporting requirements on those actions. The order came
without any prior testimony or legal hearings or findings, and said it did not constitute an admission or denial by
Citigroup of any allegation that had come before the Fed.
News
1
Continued...
3. 2
Argentina Accuses Local HSBC Unit of Facilitating Money Laundering, Tax Evasion
Ricardo Echegaray, director of federal tax agency Afip, said a six-month probe uncovered evidence of tax evasion
for ARS224 million and money laundering for ARS392 million. He said charges were filed in early February. Mr.
Echegaray said “there was decisive participation” of HSBC executives to hide information from Afip. HSBC Bank
Argentina SA ranks as one of Argentina’s top 10 banks by deposits and assets. Afip is also investigating other
banks and a brokerage firm for possibly using phantom accounts and bogus tax receipts for tax evasion and money
laundering, Mr. Echegaray said at a press conference. Argentina isn’t the only country where HSBC has come under
scrutiny from regulators in recent months. In December, U.S. authorities announced a $1.9 billion fine against
HSBC Holdings for failed anti-money laundering controls they said allowed drug proceeds and transactions from
sanctioned nations to enter the U.S. financial system. Neither HSBC nor any of its executives were charged with
criminal conduct in that case.
Employers Must Use Revised Form I-9, Employment Eligibility Verification
USCIS will no longer accept previous versions of Form I-9
U.S. Citizenship and Immigration Services (USCIS) reminds employers that beginning May 7, 2013, they must
use the revised Form I-9, Employment Eligibility Verification (Revision 03/08/13)N for all new hires and re-
verifications. All employers are required to complete and retain a Form I-9 for each employee hired to work in the
United States.
The revision date of the new Form I-9 is printed on the lower left corner of the form. Employers should not complete
a new Form I-9 for existing employees, however, if a properly completed Form I-9 is already on file.
The revised forms are available online at www.uscis.gov/I-9.
Employers should use the implementation of the new form as an opportunity to ensure that company policies
and procedures are current and compliant. Best practices include a written policy regarding Form I-9 rules and
procedures, yearly audits and training, and appointing an I-9 czar for your company. I-9 inspections by the
government are at an all-time high. Neglecting to fill out I-9 forms or filling out I-9 forms incorrectly can result in
fines of up to $1,100 for every incorrect form.
Centralized KYC Registry for customers across different Financial Institutions
RBI issues guidelines to issue Unique Customer Identification Code for NBFC Customers in India (UCIC) to adhere
to the Know Your Customer (KYC) norms; Anti-Money Laundering (AML) standards and Combating of Financing
of Terrorism (CFT). This guideline applies to all Non-Deposit taking NBFCs with assets of Rs 25 cr and above and
to All Deposit taking NBFCs.
The increasing complexity and volume of financial transactions necessitate that customers do not have multiple
identities within a Financial Institution or across the financial system. In this regard, a Working Group constituted
by the Government of India has proposed the introduction of unique identifiers for customers across different
Financial Institutions for setting up a centralized KYC Registry.
Legal Updates
4. 3
S. Varadarajan (Raja)
Executive President – Human Resource
Tata Teleservices Limited
Spearhead for the Human Resource function and responsible for HR Strategy, Organization Design, L&D, Cross Culture
building, Remuneration Practices, Performance Management and Leadership Capability Development at Tata Teleser-
vices, India’s fastest growing Telecom Service Provider, Raja has been awarded with the Seasoned HR Professional
Award for 2012 from NHRDN and President’s award in 2010 for his contribution to NHRDN. Raja was also awarded for
his thought leadership and contribution to the field of HR at the World HR Congress in 2009.
We are happy to share his views on the importance and impact of Background Screening for the hiring process in general
and for Tata Teleservices in particular:
Candidate screening is practically “the first step towards strengthening organizational governance”.
In a company like Tatas we focus a lot on ensuring the maintenance of the ethical fabric of the organization. In the
present day context, with more focus on sharpening the Governance system of the organization, “candidate screening”
practically becomes the first step towards strengthening organizational governance. The process of ensuring and driving
legal and ethical behavior, accountability for management’s actions, transparency of operations, fiscal accountability
etc start with having responsible and ethical people at all levels of the organization and thus not having rigor in the
screening of candidates who are to become employees has immense ramifications. This is especially so in the context of
globalization liabilities arising thereof such that any failure in this process can potentially be linked to the organization
having to shut down its operations.
Screening Industry has evolved.
The industry has certainly evolved both in terms of size as well with respect to quality of delivery. The evolution has been
for the better. With more and more service oriented companies increasing their presence in India this has led to a rise
in having this process outsourced based on the advantage of leveraging such core competency and also the economies
of scale. With database getting built and process improvements made over time, the quality of this service in terms of
improved TAT, accuracy of information etc also improved.
Screening has reduced risk and increased productivity.
This process has definitely strengthened our hiring process in line with the requirements of ISO27001. The screening
of candidates ensures that we are at a lesser risk w.r.t possible issues that may arise if one were to hire employees with
dubious background. More importantly it has created awareness both within and outside the organization that we take
this process seriously and are well aligned with the ethos and code of conduct of the organization in spirit and practice.
This in turn has resulted in increased productivity as we are likely to be having lesser cases unethical practices.
ClientSpeak
Continued...
5. 4
Candidate Identity, Address Verification and Education are of utmost importance.
In my view checking on a candidate’s basic verification with respect to identity and address is of utmost importance
given the current circumstances. Secondly, while education check may not be criteria for many while selecting a candi-
date, it does give valuable insights on the character of a person. If one was to forge or falsify on something as basic as this
then it is likely he/she may embrace unethical practices more easily. Lastly it is important a police or court verification
be done as it further helps you to ring fence the overall screening process. This is especially so where organizations are
required to be compliant with stringent global requirements.
Regulatory Bodies and Industry Patronage of Education Institutions should complement not compete.
The regulatory body derives its authority from the law of the land. In my view we need to respect the law at all times.
While industry patronage augments the institutions but it would be equally important to them for being recognized by
the applicable regulators. The debate should focus around challenges or the way forward on getting such institutions
recognized or having the regulator revisit the recognition norms rather than choose one over other. They should be com-
plimenting and not competing with one another.
Centralised Records Database is the future of screening.
I do foresee that screening records may get centralized very much like the CRISIL database, and be accessible at a cost.
However there could be many nuances that may need to be ironed out first. I also think that such screening process will
become necessary not only for full time roles but also for temporary or part time roles. An extension is that this data base
can also be used for reference checks as well as analyzing attrition trends in the organization/industry.
Long-Term Cost Benefit and Quality should decide outsourcing of screening process.
I think that if this process fits into the core competencies of the organization then it’s absolutely fine to have an in-house
screening process, else they would do better to evaluate a long term cost benefit analysis as well as a quality check vis-à-
vis involving a specialized third party who are well versed and qualified to carry out these checks.
6. A Point to Ponder
CEO CONNECTEDNESS and CORPORATE FRAUD
“The SEC named the CEO and/or CFO for some level of involvement in 89% of the fraud cases, up from 83% of cases
in 1987-1997.“
- COSO Fraud Study 2010
“CEOs with a taste for luxury goods…aren’t more likely to commit fraud, researchers found. But fraud is more likely to
happen in the companies that they run…”
“Big-spender CEOs also tend to run companies that take bigger risks, but have poorer performance and are more likely
to go bankrupt.”
- National Bureau of Economic Research
If you want to understand fraud, you need to cast beyond rules and regulations and look to the corner office.”
- Prof. Magnan, of the John Molson School of Business at Concordia University in Montreal,
A study conducted on CEO CONNECTEDNESS AND CORPORATE FRAUDS concluded empirically that “CEO
connectedness decreases the likelihood of fraud detection, lengthens the time from fraud incidence to its detection, re-
duces the likelihood of forced CEO turnover upon discovery of fraud, and lowers the coordination costs needed to carry
out illegal activities.”
The authors of the study found through a study of 282 cases of corporate fraud during the period 1996 through 2006,
“Corporate wrongdoing often requires coordination between or acquiescence by top executives who report to CEOs on a
daily basis”. They say, “CEOs have both explicit legal authority and substantial “soft” influence within the firm to direct
corporate behaviour of which wrongdoing is but one potential outcome.”
Would you agree? Would you put your CXOs under the scanner?
Some recent instances of CEOs found fraudulent across the world. Absence of Indian instances probably reflects what
the study concluded about the lengthening the time from incidence to detection.
• Claudio Osorio, the former globe-trotting executive who headed a Fortune 500 company, faces up to 30 years in
prison after pleading guilty to stealing millions of dollars from investors in his ill-fated venture to build low-cost
housing in Haiti and other developing countries.
Source: www.miamiherald.com
• The former chief executive officer of Peoples Bank of the South, a south Mississippi bank, Larry Barnette Hill, has
been charged with fraud and money laundering.
Source: www.sfgate.com
• Highly confidential documents emanating from the office of the Microfinance And Small Loans Centre (MASLOC)
and intercepted by Modern Ghana point to a grand executive fraud involving the Chief Executive Officer Madam
Bertha Sogah alleged to be involved in a GH ₵ 500,000 deal.
Source: www.modernghana.com
• Darrell McAllister, former president and CEO of Bank of Choice, has been charged with securities fraud allegedly
having violated the registration and anti-fraud provisions of the Colorado Securities Act.
Source: www.ncbr.com
5
7. In continuation of the Discrepancy Trend Analysis, in this edition we share the check-wise discrepancy comparison
for the four industries we are tracking over FY 2010-11, 2011-12 and 2012-13. Apart from the Pharma/Biotech/Clinical
Research; the other three industry sectors have displayed a decrease in check-wise discrepancy.
Telecom displays the maximum decrease in discrepancy percentage.
Reasons for the increase in the discrepancy in the Pharma sector or the reason for decrease in the other three sectors
could be attributed to different reasons which we will be discussing in forthcoming editions.
This analysis has been done using the number of individual checks conducted per individual who was verified.
Screening Trends
6
8. The first issue spoke about a comprehensive Background Screening Policy and the best practices as defined by NAPBS.
The current edition shares the risks you should be mitigating by screening your workforce and others associated with
your organisation in any capacity.
Risks to be mitigated
• Identity: Be certain of the identity of the person you are dealing with in any capacity. Government issued identity
proof is a definite check to ensure your prospective hire, vendor, customer, client or even a visitor is a genuine bona
fide identity and not an imposter.
• Accessibility: Ensure your employees current address in your records is genuine and the individual actually lives at
the address so as to be able to reach the employee in case of any emergency or requirement.
• Current Address should be an address where the individual is currently staying and has been staying there for
a minimum 6 months. If stay at the current address is less than 6 months, then the address or addresses prior
to the current address should also be verified to ensure the address is genuine and that the individual actually
stayed there.
• Criminality: A basic check to ensure the individual does not feature in any of the negative lists available in the public
domain, both Indian and global negates interaction with a person with a criminal record. Additionally, criminality
can be checked with the authorities specifically the police department for any record of any activity criminal in
nature at a verified address.
• Police Verification conducted without first confirming the authenticity of a stated address and the confirmation
of the individual residing at the confirmed address can in all probability give a result which is inaccurate.
• Fitment: Verify education, professional and technical qualifications of your workforce to be certain that the person
is qualified for the job. Verify past employments with HR and the supervisor to understand capability, attitude and
achievements.
Gaps between two employments, two educations or between the last employment and the first
employment are an important area for verification. Stated gaps should be verified to ensure no criminal
record exists during that period. Unstated gaps [gaps uncovered during the process of verification]
should also be verified similarly and should be red alerts for the individual’s integrity.
Best Practices in Screening
7
9. Ms Sengupta had her career collapse, undone by the chance discovery of a single lie that led to the discovery of many
more. A clerk stumbled upon her application file, and noticed her listed date of birth that put her age at 29. Ms. Sengupta,
in her late 40s at the time, declined to answer the many questions which were asked. Eventually, it became clear that
she had not only shaved nearly two decades off her age but that nearly everything about her work and education history
was not as she had claimed.
Soma Sengupta, an India-born daughter of an engineer, who grew up mostly in Jersey City has a very well-scripted
career. A clear indication of what a pre-hiring background check could have prevented.
The Facts:
• Graduated from Georgetown Law School in 1998
• Became a licensed lawyer in 2000 after passed the New York State bar exam.
• Began volunteer work two day a week in 2004 for the Legal Aid Society’s Prisoners’ Rights Project
The Falsifications
• Claimed had left law school before graduating and applied for a paralegal position with the Manhattan district
attorney’s office, as the office did not allow lawyers to work as paralegals.
• Claimed 1969 as year of birth, eight years earlier than the correct year of birth
• Was fired from the office in 2003, after it became known that she was, in fact, a lawyer.
• Got her supervisor to write reference letters to help her apply for several staff lawyer positions, including with the
American Civil Liberties Union in New Jersey and the Neighborhood Defender Service of Harlem.
• Claimed to be an assistant district attorney and to prosecute “gang and white-collar fraud cases,”
• Claimed to have defended “all felonies including murder and sexual offences,’ by virtue of being staff lawyer at the
Legal Aid Society
• Six years of advocacy experience in a common law system
• Graduated in the top 1% of her class at Georgetown Law
The Forgery
• Reference letter from Robert F. Drinan, a former United States representative from Masachusetts and a Georgetown
Law professor; it was dated a year after his death.
• Forged reference letters stating Ms. Sengupta was an accomplished trial lawyer.
• Fake Indian birth certificate.
• Created a fake website for a fictional law firm in the name of fictional former prosecutor
• Forged reference letter from him
• Forged a reference letter from the office of Eliot Spitzer, the then attorney general.
A comprehensive fraud, this had the Bar Standards Board of England and Wales modify the application process to now
have the” college transcripts come directly from the schools in a sealed envelope, without passing through an applicant’s
hands”.
On trial in State Supreme Court in Manhattan, Ms. Sengupta, 52, faces forgery and other charges, “the most severe of
which carries a maximum prison sentence of seven years”.
Case Study
8
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