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On June 17, 2015, the VEGAS LEX law firm organized a workshop, Common fraud risks among senior management: building a safe perimeter, for senior executives and chief lawyers of major Russian and foreign corporations.

VEGAS LEX Partner  immediately involved the audience in working on business cases, without spending much time on theory. The expert briefly outlined the concept of fraud risks, the subjects and objects of such risks, and told the audience what conditions are conducive to corporate fraud and how to minimize its effects. After that, the participants were asked to discuss several examples based on actual fraud cases, an activity that encouraged them to try and identify fraud schemes and look for threats they pose to the senior management.

They especially focused on procurement-related fraud – the reasons why it happens and the stages of the procurement process where such risks emerge. Не cited corporate positions that can provide opportunities to carry out various fraud schemes. He also briefly spoke about protecting data and proprietary information, covering the channels and sources of leaks, ways to track leaks and legal ways of protecting confidential information.

It was important to show to senior executives the kinds of risks they might encounter from their own colleagues, partners and even shareholders in their everyday business activity, what they should look out for and how to manage such risks.

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For more information on VEGAS LEX’s services in fighting corporate fraud, please click here.