Forensic & Restructuring Summit 2023 To Focus On Tackling Emerging White-Collar Crime Trends

The Wealth Today and Forensic Risk Alliance announce the Forensic & Restructuring (fore) Summit 2023, set to take place on Tuesday, June 6 in Dubai. The summit will delve into the rapidly evolving landscape of white-collar crimes, sanctions, and corruption, specifically focusing on the role of Big Data and Data Analytics in investigations and prosecution.

The Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) have been leveraging data analytics to detect and prosecute these crimes, and the same proactive approach is expected from companies.

The Summit will also explore emerging trends in corruption, including the impacts of rising global wealth inequality, conflict-prone environments, and technological advancements. As the wealth of the world’s top 1% is projected to grow, corruption risks are expected to surge, necessitating proactive measures from anti-corruption agencies.

Third-party intermediaries’ compliance issues will also be in the spotlight at the Summit, as Stanford Law School estimates about 90% of Foreign Corrupt Practices Act (FCPA) matters alleging bribery involve intermediaries. The Summit will emphasize the need for robust third-party due diligence programs to mitigate these risks.

The Summit also aims to discuss recent statistics related to white-collar crimes in the U.S., including the fast-growing crime of identity theft, which affected over 10 million Americans in 2020. The DOJ has announced plans to hire additional personnel to combat pandemic-related fraud, indicating the escalating fight against white-collar crimes.

“Recent corporate failures have further put a spotlight on the approach toward risk management and regulatory adherence and make this topic, a critical one to discuss,” said Hiteshwar Bhakhri, Executive Director of Strategy, The Wealth Today.

Bhavin Shah, Managing Partner MEA, Forensic Risk Alliance said “ UAE has emerged as the region’s leading center for financial services, with many global financial institutions including investment banks, funds and asset managers. The scale of financial services business and corporate governance weaknesses create significant opportunities for white-collar crime. Many clients often lack the awareness to protect themselves against sophisticated fraud, with investment scams and cybercrime being significant problems. Understanding these emerging trends is crucial for businesses, regulators, and law enforcement agencies.”

For more information about the Forensic & Restructuring (fore) Summit 2023, visit the event website at https://foresummit.today/.