Resources

White Papers

Key Challenges in White Collar Crime Investigations

More than one-third of businesses in the U.S. are affected by white collar crime and studies have estimated that approximately 40% of large organisations in Europe have been impacted. Fraud, embezzlement, money laundering, insider trading, financial misstatement and intellectual property theft cause annual losses estimated at up to US$1.7 trillion. In recent years, there have been some significant developments in the prosecution of white collar crimes globally, with enforcement activity increasing by more than 50%.

Collective Actions and Data Risk Management

Collective actions, also known as class actions or mass claims, have become increasingly prevalent in the U.K. and European Union due to recent legislation and precedent-setting cases. There has been an estimated 120% increase in the number of collective actions in the EU since 2018, and in 2023, class actions in the U.K. were collectively seeking in excess of €120 billion.

Spreading Like Wildfire: Emerging Data Sources Continue to Spark Governance, Compliance, Discovery Challenges

Concerns over emerging data sources have reached an all-time high. After several years of steadily burning in the background of legal department challenges, the flames have caught on and grown, forcing in-house counsel and their law firms into fire-fighting mode across e-discovery, compliance monitoring, investigations, regulatory response and more. Over the last year, 62% of global general counsel confirmed they had experienced distinct new issues associated with collaboration tools, chat applications, file shares and other similar cloud-based systems, and nearly all (93%) expressed some level of concern about emerging data sources as a significant area of risk.

Off-Channel Communications Enforcement Intensifies, Compounds Importance of Comprehensive Information Governance

Scrutiny over off-channel communications and emerging data sources such as modern communications tools, collaboration platforms, personal devices, chat applications and ephemeral messaging, has become a serious and increasing focus in regulatory enforcement. Over the past two years, the Securities and Exchange Commission and the Commodity and Futures Trading Commission have issued more than $2 billion in fines to financial services institutions for record keeping failures related to messaging applications. Following suit, this year, the Department of Justice and the Federal Trade Commission have shared new guidance to specifically emphasize expectations that off-channel communications be preserved and monitored as part of routine compliance programs.

A Pathway to Corporate Data Governance and Improving Value of Corporate Data Assets: Catalysts, Challenges, Approaches and Benefits

Organizations now recognize they have a new, powerful asset class at their disposal: their data and the information and actionable insights that the data constitutes. This asset class can provide significant returns and offers the potential to drive revenue and operational efficiencies, opportunities that have led corporate boards and C-suites in search of a path to derive greater value from corporate data. Even with this acknowledgement of value, however, many organizations are often at a loss for understanding the value of an information governance program, or have made attempts at mining value through technology with unsatisfactory results. This paper covers the fundamentals of implementing a corporate data governance program and explains why and how strong governance must be the foundation upon which value-add data programs are built.

Revolutionizing Third-Party Risk Management with Blockchain Technology

In the rapidly evolving digital economy, organizations face heightened challenges in managing risks associated with third-party partnerships across artificial intelligence, blockchain and digital assets. Traditional third-party risk management (TPRM) approaches often fall short in addressing the complexities of today’s digital risks, regulatory compliance demands and need for transparent, real-time monitoring. This paper explores the imperative role blockchain technology can play in transforming TPRM strategies, offering a sophisticated, secure and efficient framework for managing third-party risks in high-tech industries.

AI Governance in Practice Report 2024

Recent and rapidly advancing breakthroughs in machine learning technology have forever transformed the landscape of AI. AI systems have become powerful engines capable of autonomous learning across vast swaths of information and generating entirely new data. As a result, society is in the midst of significant disruption with the surge in AI sophistication and the emergence of a new era of technological innovation. As businesses grapple with a future in which the boundaries of AI only continue to expand, their leaders face the responsibility of managing the various risks and harms of AI, so its benefits can be realized in a safe and responsible manner.

UAE Financial Crime Compliance: How To Prepare for Potential Investigations

The United Arab Emirates government is actively escalating its efforts to prosecute and investigate financial crime. Financial crime prevention, investigation and response are highly complex and challenging for institutions based in, or operating in, the UAE, and increasingly so. Banks need to build robust preparedness programs or full-scale compliance technology and controls to compete on the international stage against global peers that apply a stringent international benchmark.

AI Readiness Through Effective Information Governance in Microsoft Environments

In the rapidly evolving landscape of artificial intelligence, generative AI is becoming a disruptive force, reshaping how machines interact with and create content. Advancements in this space offer the potential to unlock unparalleled benefits ranging from speeding up content production to enhancing, streamlining and automating processes. Nevertheless, the rise of generative AI can also pose a significant risk if the underlying information and workflows are poorly governed. Insufficient AI governance can lead to an array of problems, such as biased outputs, data protection vulnerabilities and the potential for making inaccurate or incomplete decisions based upon on out-of-date information.

Technology Modernisation for Internal Investigations: Clarion Call for Innovation and Improvement

The landscape of internal investigations has changed dramatically in recent years. This has been driven by factors including increased regulatory and legal pressures, unforeseen government intervention and growth in the scale of information requests. As a result, large organisations today are inundated with an increasing volume of whistleblower claims, allegations of misconduct, customer complaints and claims, suspicious activity reports, freedom of information requests, data subject access requests (DSARs), subpoenas, etc. While each request differs in substance, they all share the requirement to collect information, review and investigate, collaborate on findings, and report.

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