Conflict of interest is intrinsic to human life and is often the root cause when it comes to fraud cases that involve corruption and bribery. According to Transparency International, a conflict of interest is a complex and sometimes ungraspable concept. Merriam-Webster defines the terminology as a conflict between the private...
In a fast-growing digital landscape and highly connected world, the business world nowadays produces a high volume of digitized documents despite the fact that printed versions still retain their importance in business. With the ability to store an unlimited amount of data than their conventional counterparts, more and more businesses...
Whistleblowing systems play a crucial role in detecting misconduct and promoting ethical behavior within organizations. However, in reality, the very act of “blowing the whistle” can put whistleblowers at great risk. Among other risks, those who choose to disclose misconduct may experience retaliation, harassment, or other professional repercussions. Given the risks,...
Money laundering constitutes a significant and far-reaching issue with grave repercussions for economies, societies, and the integrity of the global financial system. Banks, in particular, are exposed to formidable risks when entangled in money laundering practices, including reputational harm, regulatory and legal liability, and financial losses. The recent episode involving Al-Zaytun,...
Fraudulent activities involving forged signatures pose a significant threat to both individuals and organizations. This deceitful practice carries serious legal and financial implications, often leading to substantial losses for victims. Signature forgery can target various types of documents, including contracts, bank checks, financial statements, and invoices. The financial losses resulting from...
In today's digital age, brand protection has become more crucial than ever, thanks to the rise of brand jacking. Brand jacking, also known as brand hijacking or brand impersonation, refers to the malicious act of exploiting established brands for deceptive purposes, posing significant risks to both brand owners and consumers. In...
With the rise of digital document processing technology, the use of manipulated documents by fraud perpetrators has increased significantly, making it difficult to distinguish genuine documents with the naked eye. According to ACFE's Report to the Nations 2022, fraud perpetrators commonly create fake physical and electronic documents, including altered bank statements,...
Trademark squatting presents a formidable challenge for businesses looking to safeguard their trademarks, particularly in countries like Indonesia, China, and Singapore, that operate under a "first-to-file" trademark registration system. In Indonesia, the trademark registration system, as stipulated in Law No. 20 of 2016 concerning Trademarks and Geographical Indications, follows the principle...
The Government of the Republic of Indonesia, through the Ministry of Law and Human Rights (Kemenkumham), has recently suspended and reviewed the policy of visa-free visits (BVK) for 159 countries entering Indonesia, with the exception of ASEAN countries. This new policy is detailed in the Ministerial Decree M.HH-GR.01.07 of 2023,...
Former Amazon employee, Kayricka Wortham, was recently sentenced to 16 years in prison for embezzling $10 million from the company. Wortham carried out this act of collusion with several other employees. Fraud is a serious issue, and according to the ACFE Report to the Nations, businesses suffer losses of over...
