Money related Wrongdoing: What does it intend to Investec?

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Government evasion. Insider Trading. Business sector misuse. Budgetary Crime: What are the dangers? ... Extortion and Money Laundering Reporting Officer. Email: simon.wilkin ...

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´╗┐Money related Crime: What does it intend to Investec? February 2007

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Financial Crime: What would it be advisable for us to consider? What is money related wrongdoing? What wrongdoings or sorts of conduct are secured? What would it be a good idea for us to do? What are our obligations?

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Financial Crime: What is it? Definition? Basic sorts of misrepresentation False Accounting Money Laundering Corruption Asset misappropriation Investment Schemes Computer Fraud Intellectual property extortion Insurance extortion What is covered? Internal misrepresentation and robbery External assaults Money laundering Insider Trading Market manhandle

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Financial Crime: What are the dangers? Reputational hazard Financial hazard Regulatory hazard Legal hazard

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False Accounting How might this impact Investec. To acquire for subsidizing from the bank To raise share cost or esteem To get execution related rewards To cover unique burglary To conceal misfortunes

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Asset misappropriation How might this impact Investec. Wholesale fraud/account assume control False cost assert Theft of organization resources Theft of licensed innovation Payroll misrepresentation Advanced expense extortion Long firm misrepresentation Check misrepresentation Investment plot extortion

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Computer misrepresentation How might this impact Investec. Web misrepresentation Spam and infection Phishing Denial get to Hacking

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Corruption How might this impact Investec. Political Exposed Person (PEPs)/High total assets people Employees Clients

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Warning signs What to keep an eye out for. (Individuals) Management commanded by one individual High turn over of bookkeeping/budgetary staff Remuneration vigorously in view of monetary execution Low resolve Employee way of life Excessive hours worked Unprofessional or to nearer association with client/provider Grievances

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Warning signs How might this impact Investec. (Inside procedures) Lack of pre work screening Weaknesses distinguished however not revised Poor authorisation forms Ability to supersede interior controls Poor social state of mind to misrepresentation issues

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Warning Signs How might this impact Investec. (Outside signs) Structure that are excessively convoluted Excessive utilization of locales Overly complex exchanges Failure to recognize extreme gainful proprietors Lack of comprehend respects customers business Clients profile changes for no evident reason Share costs that are either to high or to low for economic situations

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Controls How would we be able to secure Investec. Pre business screening Appropriate close down levels Segregation of obligations Internal reporting frameworks and staff insurance Staff preparing and mindfulness Annual misrepresentation hazard audit Fraud considered in new item or process plan Holiday strategy Senior administration duty

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Financial Crime arrangement What ought to be secured. That the approach applies to all levels Whether to organization has a zero resistance Define what budgetary wrongdoing is Conflicts of intrigue Gift and amusement Internal reporting frameworks/shriek blowing arrangement What representatives ought to manages episodes of money related wrongdoing Liaise with law authorization Contingency get ready for managing occurrences.

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Financial Crime Policy What to do if a money related wrongdoing is found. Safeguard every single applicable report. (Deliberately put them in plastic envelopes) Preserve the scene where proper. (e.g. in the event that representative presumed save work area substance, scratch pad and so forth) Preserve whatever other office hardware accepted to be suspected or used to encourage extortion (e.g. fax machines and so on) Ensure that the episode is accounted for to the fitting senior individual from staff Inform their pertinent specialty unit administrator If the technique by which monies have been duped is recognized, find a way to shields promote misfortunes. Promptly endeavor to recuperate reserves. Consider blocking accounts. On the off chance that the assets have left the bank reach the beneficiary bank and look for help. Keep point by point notes of quick move made. Specifically note phone and fax numbers called with gatherings outside the bank. Keep in mind prompt moves made at the time the misrepresentation is found turn out to be the best at securing proof and recouping reserves.

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Simon Wilkin Fraud and Money Laundering Reporting Officer Email: Tel: 0207 597 4645 Fax: 0207 597 4398