BTG Global Risk Partners

Leading Contentious Insolvency Expert Joins Begbies Traynor Group

uat — Mon, 21 Nov 2011 18:23:13 GMT

Kevin Mawer has joined BTG Global Risk Partners, part of Begbies Traynor Group, as Partner and Head of its Forensic Insolvency Investigations division.

Kevin was a director with KPMG since 2007, during which time he set up and led its forensic recovery team. He also spent nine years as a Partner with Grant Thornton and 14 years with Arthur Andersen where he qualified as a chartered accountant and became a Partner. Kevin is a forensic recovery expert with almost 30 years’ experience in contentious insolvency. A qualified insolvency practitioner, he specialises in insolvency cases where fraud or misfeasance are suspected.

Working alongside Richard Pughe, National Head of Forensic Accounting, Kevin will complement the expertise of BTG Global Risk Partners by expanding its expertise in cases of contentious insolvency.

“Begbies Traynor Group is renowned for providing a one-stop shop of specialist services for businesses. The addition of Kevin will strengthen our forensic recovery team, enabling us to effectively deal with the increasing number of insolvency cases involving suspicions of fraud brought to us by clients,” explains John Reynard, Executive Chairman of BTG Global Risk Partners.

“As one of the leading experts on contentious insolvency in the UK, Kevin will play a key role in helping to investigate cases of suspected fraud and to recover funds for creditors.”

Kevin comments, “Over the last 30 years, I have handled many complex and high profile insolvency cases. I am looking forward to using my knowledge and experience to help BTG Global Risk Partners to build on its services in this niche area in order to offer a more comprehensive service to clients.”

Kevin was previously a member of the ICAEW’s Insolvency Licensing Committee and is currently a member of its Disciplinary Panel.

Begbies Traynor Group Launches BTG Global Risk Partners

uat — Mon, 06 Sep 2010 10:47:25 GMT

Begbies Traynor Group, the specialist professional services consultancy, today announces the launch of BTG Global Risk Partners, bringing together the Group’s forensic accounting, computer forensic, investigation and security risk practices into a new integrated business, with immediate effect.

The amalgamation of these practices has been designed to enable clients to benefit from a tailored combination of advisory services from this comprehensive range of highly experienced specialists, ensuring that clients’ interests are protected and enhanced, no matter how complex their exposure.

Following the integration, BTG Global Risk Partners will be uniquely positioned in being able to offer this full range of services in one integrated business through its domestic and international network that reaches out to over 100 countries, putting it at the forefront of the international risk and investigations industry.

John Reynard, executive chairman of BTG Global Risk Partners, said:

“This launch marks a really exciting milestone in the development of the Group’s risk, investigation and forensic offering. The business is now truly international, not only serving its heartland mid market clients, but also its growing list of multi-national, FTSE 100 and Fortune 500 clients.”

Piracy is an insurance risk with no foreseeable resolution

uat — Tue, 16 Mar 2010 11:55:15 GMT

Simon Fordham, a Partner and crisis management expert from BGN Risk, said this week that insurers were used to hard-nosed negotiation but that this did not work with pirates in Somalia, Nigeria and elsewhere. In a lecture from the Insurance Institute of London's podium at Lloyd's Old Library, Fordham said that pirate activity did not conform to set patterns and was mostly outside ship-owners' control.

"The pirates will show how much control they have, and the lives of the crew could be in danger."

Fordham said that piracy was indisputably a "crisis" and that there was no sign of resolution or impact reduction for some time. He spent the rest of the lecture explaining to the insurance industry delegates the desperate and culturally entrenched nature of this emerging risk.

"The pirates carry weapons as easily as we Europeans wear a watch. If the pirates come within 800 meters of a ship, they do their damnedest to get it."

The average age expectation of a man in Somalia was 40, which meant that at 16, 17 or 18-years-old...

Fraud Team Elects Vice-president

uat — Mon, 08 Feb 2010 11:25:02 GMT

Alex McLaren, director of forensic accountancy services with BTG Forensic Scotland, has been elected vice-president of the Association of Certified Fraud Examiners in the UK.

McLaren joined BTG Forensic, a division of insolvency practitioners Begbies Traynor, in 2009 and now heads up the fraud team which quantifies the value of claims and provides advice on complex financial issues.

He said: “My aim is to help the Association grow its membership in Scotland and encourage more professionals to join this unique group in the global fight against fraud.”

“Fraud is now a major issue and in 2009, because of the recession and the absence of proper controls, reported fraud increased by a massive 670 per cent and that’s just the tip of the iceberg as much of it goes uncovered and isn’t reported.”

Forensic Service Launched

uat — Fri, 05 Feb 2010 14:18:46 GMT

Begbies Traynor Group has launched a specialist forensic service in the Midlands headed by Martin Long, a former RSM Robson Rhodes and Grant Thornton partner in Birmingham.

Begbies Traynor regional managing partner John Kelly said it was a logical step for the firm to take.

He said: “We frequently find ourselves asked to provide expert witness and litigation specialist support to our clients and intermediary contacts.”

“Coupled with the growth in regulatory compliance, the increase in fraud activity and the fact that forensic accounting skills are very much integral to our recovery teams, it was inevitable that we would bring forensic accounting within our service offering in the Midlands.”

“We are delighted to have Martin on board as a partner launching this vital new service for us.”

“I am sure he will be a great asset to the team and his arrival makes available further expertise to our client base.”

BTG Forensic also has offices in Edinburgh, Glasgow, Leeds, London, Manchester and Plymouth.

Apart from a three-year spell in Italy, Mr Long, a Birmingham University graduate, has spent all his 25-year accountancy profession in the city.

For a number of years Mr Long has participated in the training of individuals from developing countries, particularly India and Africa, in fraud prevention and investigation.

Participants on these courses typically include corporate accountants, bank officials, lawyers and judges, civil servants and even government ministers.

He said: “Invariably, only a handful of the course attendees will have heard of the term ‘forensic accountant’’ this was the situation in the UK 20 years ago.”

“I usually have one day to provide them with an understanding of how the forensic accountant can help them in their respective corporate or public administration roles.”

The Rise of International Arbitration

uat — Thu, 04 Feb 2010 14:19:00 GMT

The impact of the global economy and the continuing trend of increasing volume, size and complexity of cross-border transactions have served to fuel the demand for international arbitrations as a means to resolving trans-national disputes. Even relatively modest size companies are now routinely undertaking business away from the home market which, in the event of contractual dispute, opens up the uncertainties associated with litigation in a foreign court. International arbitration is now the accepted way of dispute resolution between parties to international commercial contracts and allows companies to avoid the national courts in favour of a demonstrably neutral predetermined decision-maker. In particular, international arbitration allows the parties to a contract to agree in advance how matters will be addressed in the event of an unresolved dispute: the choice of arbitral organisation of which there are many, the place of arbitration, the language to be used, the number and selection of arbitrators, the prevailing law and procedures to be followed. Generally, an arbitral tribunal in a complex commercial matter will be composed of three arbitrators: a jointly or independently determined chairman with each party then free to select one independent arbitrator each. An important factor also is the issue of confidentiality: international arbitrations are private affairs whereas court cases are generally part of public record, although public companies may, of course, be required to disclose proceedings in any event.

International arbitration developed out of domestic arbitration but the procedures and practices relevant to an international arbitration have now evolved to such a degree that demands for this service are often met by discrete and separate group of professionals.

This is true not just for lawyers but also for the forensic accountants who act as expert witnesses in international arbitrations and are called upon to calculate losses for claim purposes.

I find myself increasingly required to act as an expert forensic accountant in international arbitrations and have been called upon to give evidence in the International Chamber of Commerce, International Court of Arbitration (ICC) and the London Court of International Arbitration (LCIA), two of the more significant Arbitral Tribunals. The protocols and guidance for experts that have evolved during recent years in the High Court remain relevant as a measure of best practice, but you must not lose sight of the fact that an international arbitration is not the UK High Court and indeed one of the main advantages of an international arbitration is that the parties are not tied to any one country’s jurisdictional procedures.

In international arbitrations, the forensic accountant needs to be able to adapt to the different cultures and business practices. Frequently, sufficient understanding can only be achieved by spending time with the client in their country of operation. As cases are often complex and significant sums of money are at stake, it is fundamental that the forensic accountant invests time in understanding the key legal issues involved in the dispute. The challenge is to retain the objectivity and neutrality required of an expert witness whilst maximising your contribution to the case by working closely with the legal and client team. You also need to be resilient as an expert witness giving evidence to an international arbitration. Arbitrators frequently put questions to the expert witness so with each side’s appointed legal advocates and often three arbitrators, questions can come in quick succession from perhaps five people.

Industry sectors such as construction and energy were quick to latch on to the advantages of international arbitration as the preferred method of dispute resolution but these days commercial arrangements involving engineering, supply contracts, distribution and license agreements, intellectual property, maritime charter, joint ventures and many other areas are as likely to be subject to international arbitration arrangements. Similarly, in the past parties were often multinationals, state-owned and/or state agency organisations. Today, parties may be medium-sized companies with a need to manage the risks associated with overseas trade.

Parties to international arbitration can come from almost any combination of countries. I was fortunate enough to spend several years working in Italy during the early 1990s and it was this background that led me to become involved as a forensic accountant in my first international arbitration dispute between UK and Italian multinationals in around 1994. Since that time I have acted as an expert witness in international arbitration disputes involving parties in the UK, USA, India, Romania, Russia, Austria, Finland, Israel and East Africa – the list continues to grow.

Of course, parties to an international dispute may be able to resolve their differences by mediation and avoid the need for further argument, whether it is trans-national litigation or international arbitration. However, given the added complexity of different languages and cultures, it seems safe to say that international arbitration will remain the preferred solution to international contractual disputes for the foreseeable future.

Taking the bull by the horns

uat — Mon, 11 Jan 2010 13:50:00 GMT

North West accountancy firms are responding to the economic chill with impressive innovation, flexibility and resilience. Despite widespread redundancies and severe pressure on fee income, they have adopted a gritty, entrepreneurial approach to rethinking operations.

Take, for instance, Business in a Box, an online start-up service launched by Lancashire firm Studholme Bell. The concept aims to remove the hassle of setting up a business by providing a range of start-up services, from a basic registration package to a comprehensive launch programme including business advice and marketing back-up.

Founder Alex Bell says: “The services we deliver as an accountancy firm are provided to customers of Business in a Box. It’s an added-value service where we help budding entrepreneurs reach their full potential, and grow our own client base.”

Recessionary conditions have also prompted firms to adapt conventional service lines, while shifting skills from one discipline to another.

“We are challenging ourselves to plan very carefully, with an eye on flexibility,” says Jonathan Hurst, northern chairman of KPMG based in Manchester. “For example, we have enabled our particularly busy restructuring practice to use the skills of people from other teams. This has had the positive effect of retaining valued employees and broadening their experience.”

Other practices have also adapted operations as a way of keeping people in jobs. “We have introduced flexible working arrangements under which staff are volunteering for reduced hours or extra unpaid holiday, and people are moving from one department to another,” says David Ingram, managing partner at Moore and Smalley in Preston. “Avoiding redundancies is vital to ensure we retain all our expertise as the economy begins to recover.”

Far from shrinking from the recession, Ernst & Young is taking a bullish approach. The firm says is has grown its UK practice by more than any other big four firm this year, with revenues rising by eight per cent to £1.38bn. “We think it’s really important to build our business even in tough times”, says senior partner Simon Allport. “We’ve invested in our North West practice by appointing 11 partners in the past two years.”

Not surprisingly, corporate recovery and turnaround is the accountancy sector’s main growth area, although firms report other strongly performing service lines including public sector, forensic accounting, business advisory work and pensions.

“Our advisory services are in demand as our clients try to take control of their destiny by strategic planning and being proactive,” says Paul Stansfield, managing partner at Cowgill Holloway in Bolton.

There is no shortage of work among forensic accountants as contracts are disputed and employees in financial difficulty resort to fraud. However, an even busier period is predicted. John Reynard, head of BTG Forensic in Manchester, says: “When times are really bad we see an increase in fraudulent activity and disputes. Many businesses can’t afford the time or resources to litigate so in the upturn we expect to see the highest demand.”

Public sector work will continue to be a growth area – regardless of the colour of the next government. “There are likely to be significant spending cuts whoever wins the next election, but the opportunity exists to support public sector organisations in becoming more efficient and innovative in the way they deliver front-line services and back office functions,” says Peter Chambers, a partner at PricewaterhouseCoopers.

Expansion in pensions sector work is also expected to gather pace because the recession is forcing some of the region’s businesses to close their defined benefit schemes to future accrual.

“Companies have huge rumps of pension liability on their balance sheets that no longer act as recruitment tools,” says Patrick Loftus, North West senior partner at Deloitte. “Advisors who work closely with clients to generate innovative alternatives will be greatly rewarded in 2010.”

The corporate finance sector has suffered more than any other as a result of the credit shortage, with relations between financial advisers and banks sometimes becoming strained. “Accountants have witnessed some inconsistent decision-making by the banks,” says Graham Travis, a partner at Campbell Wooley in Manchester. “It will take some time to regain full confidence in funders’ decision-making.”

Other commentators are less sceptical about relations between accountancy firms and banks, though no-one suggests the situation is straightforward. “Lenders are willing to provide funding, but often with a greater level of security”, says Tim Mills at Pierce Corporate Finance in Blackburn. “So it’s vital to get a full understanding of funders’ requirements.”

Opinion varies on the prognosis for the region’s accountancy sector, although the consensus is that any recovery will be at least another 12 months of accountancy firms continuing to tweak their structures,” according to David Grundy, managing partner at Grant Thornton in Manchester.

A survey of mid-corporate finance directors, conducted by Baker Tilly, indicated that the majority did not expect trading conditions to improve until the end of 2010, while a sizeable proportion thought trading conditions would worsen before getting better.

“Through recovery may be just around the corner, there will be a time tag before confidence returns,” says David Gwilliam, managing partner for the firm’s northern region.

“I feel that 2010 will be at least as challenging.”

Firms warned to be wary of cons

uat — Mon, 11 Jan 2010 13:45:00 GMT

A partner at the Leeds office of BTG Forensic has warned other firms to be vigilant in the face of sophisticated ‘hustle’ style fraud or long-cons.

BTG Forensic, part of the Begbies Traynor Group, said they even apparently legitimate companies may have been set up with the purpose of defrauding suppliers.

The firm has reported seeing an increase in the type of fraud features in the BBC drama series The Hustle, with groups of professional con men targeting a specific victim in a planned swindle.

Partner at BTG Forensic Richard Pughe said: “With companies more desperate to generate sales as the recession continues to bite, the conditions are perfect for long-term fraud and these gangs are seizing the opportunity to take advantage of the unwary.” Con artists build up a relationship with a business over a number of months by paying for small orders in advance, before asking for credit against a larger order and vanishing with the goods.

Firms are advised to check new client’s records with Companies House and use their business sense.

Sly tactics emerging in credit crunched firms

uat — Tue, 05 Jan 2010 12:28:00 GMT

While profits and sales plunge amid the economic doom, fraud within companies is soaring.

It is estimated that 80 per cent of all fraud is committed by employees, who, in increasingly desperate times, are resorting to theft.

John Humphreys, associate director at Tenon Forensic, said: “With bonuses and salaries being slashed and short-time working being introduced across a variety of industries, many individuals are suddenly finding their take-home pay at its lowest in years. And with company directors and employees under the same or increased pressure to meet targets, the temptation to ‘fiddle’ the books may prove overwhelming.

“The opportunity to commit fraud is also on the rise, with cutbacks resulting in fewer staff dedicated to monitoring internal controls.”

Helen Besant-Roberts, head of business risk at accountants Hurst, said there are two types of fraud – fraudulent financial reporting and misappropriation.

She said: “The latter is usually undertaken by employees and includes staff that have misappropriated cash through so-called ‘teeming and lading’ of customer receipts or supplier payments – this is where cash deficiencies are concealed then later misappropriated.

“Another fraud is where staff take company IT equipment and stock for their own use or re-sale.

“Other examples include staff and directors claiming erroneous business expenses, misappropriation of petty cash, and staff being paid more than they should.

“Fraudulent financial reporting is often the result of a desire to manipulate results.

“The reasons may include the need to meet banking covenants or raise additional financing, the need to fulfil regulatory or legal burdens – or because bonuses or performance related pay is based on results.”

There are however a number of things companies can do to protect themselves, many of which, according to Kevin Howells, manager at BTG Intelligence, can be fairly cost effective and straight forward to enforce.

He said “You should have clear financial regulations in place which set out standards of conduct and financial limits. Segregating the finance duties of placing orders, invoicing and paying suppliers is a simple but important measure to prevent fraud. The same principle applies to people who authorise purchase orders and purchase invoices.

“A solid IT policy and security system will help prevent hackers attacking the company’s resources and of course, having sound password controls in place and encouraging regular changes is extremely simple but very effective.

“A growing number of companies carry out due diligence checks on those they are about to do business with to ensure they are legitimate, and the same goes for vetting potential staff.”

John said it is also important that companies introduce transparent whistle-blowing policies.

He said “In the vast majority of fraud cases, it is discovered after the incident that someone was concerned there was a fraud but did not know how to put a stop to it.

“Employees should feel confident to blow the whistle if they notice fraudulent activity being committed, without fear of adverse repercussions. It should be made clear to staff who to approach and how.

“The key issue to bear in mind where corporate fraud is concerned is that it tends to start off small before snowballing.

“Prevention rather than cure, therefore, is key to limiting the occurrence of fraudulent activity within a business.”

Employers need to adopt 'screen' tests when hiring

uat — Tue, 05 Jan 2010 10:31:00 GMT

According to BTG Intelligence, enhanced profiling needs to be carried out to ensure that information given by candidates is accurate and that there are no "skeletons in the closet", which potential employers need to be aware of.

Chris Taylor, of BTG Intelligence, said that around every three in 10 CVs are estimated to contain untruths from overplaying current responsibilities to citing false qualifications and even claiming experience in make-believe jobs. "What's more some candidates may have criminal records of bad debt histories, which are unlikely to come to light in interviews but could prove harmful to the business," he continued. "In the US there is a long tradition of carrying out vigorous vetting of job candidates but surprisingly this had been much less common here. Many organisations readily concede that their staff are there greatest asset and therefore it seems logical to invest in screening processes to ensure that only the best candidate is hired."

According to Mr Taylor candidates first need to be told that the potential employer is planning to carry out some background checks. Advisers will ask the candidate to fill in a simple questionnaire and then carry out checks to ensure validity of qualifications and employment history as well as looking at criminal records, credit ratings and litigation history.

He said the findings could necessitate further investigations such as interviews with former colleagues or research into the candidate's lifestyle. "The grim reality is that candidates may be economical with the truth when seeking a position and cost cutting on the selection procedure could prove very costly for the business in the long-term," Mr Taylor said. "We believe pre-employment screening processes should be a standard operating procedure for all UK

employers."

CV fibs return to haunt you

uat — Mon, 07 Dec 2009 12:30:00 GMT

Turning your C at GCSE maths into a B for a job application may not seem the most heinous crime you could commit, but CV fraud is something more employers appear keen to crack down on.

Instances of applicants lengthening employment periods, bumping up university degrees and enhancing work experience are commonplace, according to the Rochdale based pre-employment screening firm Secure By Integrity Ltd (SBI).

The firm, which has been in business since 2001, helps employers check on candidates' credit histories, their eligibility to work in the UK, education and employment records.

Diane Webster, director of business development at SBI, said that as well as checking what job a candidate puts down, the task can also entail investigating those unexplained gaps in CVs which sometimes hide an embarrassing secret.

She said: "We encounter it all the time. It's human nature that people want to make out they're better than they are. People are inclined not to tell out-and-out lies but to bend the truth, like saying they've got a better degree than they have or a better former job title. They have just slightly bent the truth but it is still a lie and it says something about their honesty and integrity. From a business's point of view, it's their reputation, and bad publicity will affect the company."

Webster said SBI had seen an increase in the amount of work from smaller companies new to pre-employment screening, who have decided it is cheaper to pay an outside firm to do a full background check, which can cost from around £100, rather than fork out on recruitment costs, training, wages and national insurance contributions, only to find the person isn't actually suitable months down the line because they've lied about their past.

Research carried out by the Chartered Institute of Personnel and Development last year found a quarter of firms in the UK had withdrawn job offers after discovering a candidate had lied or misrepresented themselves on their application. The pressure on companies to make the right choices at the recruitment stage is clear, with the CIPD's annual recruitment, retention and turnover survey suggesting the average cost of recruiting a manual worker stands at £700, while recruiting a senior manager or director can cost an average of £10,000.

Gaffes

There have been a number of high profile gaffes in the recruitment process, such as in 2000 when Manchester United announced it had appointed a new director of communications.. The club withdrew the offer days before the chosen candidate's official start date after it emerged she had changed her second class degree from Cambridge to a first and submitted false references.

Mike Wright, managing partner at the Manchester office of BTG Intelligence, said they were finding more CVs containing "exaggerations" but said companies in the UK were now being more pro-active.

He said: "Pre-employment vetting has always been there and is very prevalent in the US. It's something more companies are now aware of here and something they're making use of, which is about time."

Wright said firms were taking the issue a lot more seriously when it comes to the appointment of senior executives or partners and during mergers and acquisitions, where people want to know the backgrounds of the people behind a company.

Firms warned to be on their guard over fraud

uat — Mon, 23 Nov 2009 14:35:00 GMT

Bradford firms have been urged to check their security controls following a big rise in fraud and deception by bogus customers and disgruntled employees.

Sandy Needham, chief executive of Bradford Chamber of Commerce, which represents 1,100 businesses, said it was particularly important for small firms to separate functions such as purchase orders and payments and have dual sign-off of cheques. Mrs Needham said: “In the current economic climate more firms are at risk of fraud from bogus customers or staff who may have been feeling disgruntled following a pay freeze or the loss of benefits. “For a relatively low cost, firms should ensure they have new customers who approach them out-of-the-blue credit-checked. They should also ensure that their internal systems are up to scratch to minimise internal fraud.” She was speaking following the publication of two reports highlighting the increasing threat to companies of fraud and deception by both professional criminals and hard-pressed middle managers.

According to financial investigations specialist BTG Forensic gangs of criminals are using the recession to prey on companies with ‘Hustle’ style fraud or ‘long cons’ similar to those In the BBC drama, Hustle.

Richard Pughe, BTG Forensic partner in Leeds, who specialises in fraud and criminology, said: “With companies more desperate to generate sales as the recession continues to bite, the conditions are perfect for long firm fraud and these gangs are seizing the opportunity to take advantage of the unwary. “They build a relationship over a number of months, place a few smaller orders which they pay for up front and then ask for credit for a larger order. The criminals receive the goods, sell them and vanish without making full payment.” “Among the businesses most likely to be hit are those which supply consumer goods which can be easily sold on. Businesses need to research new clients, for example, by checking records with Companies House, and also use their business acumen to avoid jumping into a deal which is too good to be true.”

The latest Global Economic Crime Survey by accountants PricewaterhouseCoopers said accounting fraud is the fastest growing economic crime experienced by organisations in the UK.

It said 47 per cent of all economic crimes in the UK were perpetrated by middle managers, struggling to maintain expensive lifestyles.

Firms Warned of Threat of ‘Long Term Fraud’

uat — Wed, 11 Nov 2009 11:25:00 GMT

More sophisticated gangs of organised criminals are using the recession to prey on companies with ‘Hustle’ style fraud or ‘long cons’ according to experts BTG Forensic in Leeds.

“We have seen a marked increase in clever, longer term fraud such as the type featured in the BBC drama series, The Hustle, with groups of professional con artists targeting a specific victim with a planned swindle which may take many months,” comments Richard Pughe, partner at BTG Forensic in Leeds. “With companies more desperate to generate sales as the recession continues to bite, the conditions are perfect for long firm fraud and these gangs are seizing the opportunity to take advantage of the unwary.

“It is more important than ever that businesses are vigilant and cautious even when they are approached by apparently legitimate companies as some may have been set up with the sole purpose of defrauding suppliers,” continues Richard who specialises in fraud and criminology. “There are criminal gangs operating in the North East which target small and medium sized companies; they build a relationship with them over a number of months, place a few smaller orders which they pay for upfront and then ask for credit for a larger order. The criminals receive the goods, sell them and vanish without making full payment. As these gangs are professionals, they may well prove hard to trace.

“The criminals will often have a buyer for their goods before they target their victims. Among the businesses most likely to be hit are those which supply consumer goods such as handbags, mobile phones and computers which can be easily sold on – even more of a problem as Christmas approaches.”

Experts fear that with profit margins already under threat, being the victim of long firm fraud could prove a fatal blow for many small companies.

“Businessmen need to research new clients, for example, by checking records with Companies House, and also use their business acumen to avoid jumping into a deal which is too good to be true,” advised Richard.

BTG Forensic, part of the Begbies Traynor Group, specialises in forensic accounting, financial investigation and valuation expertise.

Heightened security

Richard Tyrrell — Sat, 01 Aug 2009 15:26:00 GMT

You wouldn't dream of leaving the office door open when you leave at night, but if your IT security is sloppily managed, you might as well do. Technology can make your business more secure, but with it comes risks - including human error.

Business security can also be jeopardised when companies become IT fashion victims. Social media - the latest craze to sweep corporate culture - is one example.

A survey by the institute of Directors (IoD), which interviewed the bosses of 1,000 UK companies, indicated that there has been an 18 per cent rise in business-related crime since September 2008. The most common forms were fraud (33 per cent), internet crime (29 per cent) and theft by staff (18 per cent).

Another threat is internet fraud, which can happen so quickly that it isn't detected until it's too late. Kevin Howells, Manager at BTG Intelligence commented, "fraudsters can use a Trojan Horse virus to access the finance system , then make payments to their own accounts. By the time the crime comes to light, the offenders are long gone. A fraud-proofed IT security policy will provide peace of mind that the risks have been identified. However this measure must be linked to other procedures such as a fraud policy and financial regulations."

Even though internet security is an issue, the computer is rarely the cause of the problem. Businesses often overlook the threat posed by an audacious intruder who gets into an office by using a valid visitor pass or 'tailgating' employees. A well-publicised whistleblowing policy is effective for enlisting the help of staff.

BGN Risk hosts successful Maritime Security Seminar in Tokyo, Japan

Richard Tyrrell — Thu, 23 Jul 2009 18:29:24 GMT

Simon Fordham OBE, a crisis negotiator of London based security risk consultancy BGN Risk, conducted a Maritime Security Seminar in Tokyo as a direct result of successful operations carried out for Japanese clients in the African regions by BGN Risk.

The Seminar's, which have yielded a fantastic response included topics on how to safely and successfully conduct business in Africa, with particular reference to the Horn of Africa (Somali region) and Nigeria. The uniquely positioned expert in crisis negotiation provided guests with exclusive, up-to-date advice for all Japanese business interests.

BGN Risk is a leading security risk consultancy specialising in counter piracy and anti-kidnap services. Helping our corporate and private clients to identify and reduce their most significant security risks no matter how hostile the environment. Our clients include insurers, lawyers, mining, oil & gas operators, financial institutions, infastructure developers and the maritime industry.