At present there is no legal requirement in most countries for a company to report a fraud. This is in contrast to money laundering, where there is a duty to raise a suspicious activity report (SAR) should money laundering be suspected. The widespread nature of fraud and its severe impacts raises the issue of whether the reporting of fraud should also be made mandatory, meaning that shareholders, employees, suppliers, and the general public would be fully aware of anything that may adversely affect the viability of a company. That seems only fair? But is it realistic, how can it be policed and are there better ways of achieving the same end result? This webinar will discuss:

The pros and cons of requiring the compulsory reporting of fraud
What the current barriers are to reporting fraud and how they can be overcome
The lessons to be learnt from countries that have been successful in requiring the mandatory reporting of fraud

Panellists:
Mike Haley – Chief Executive Officer at CIFAs
Dr David Shepherd – Senior Lecturer in Economic Crime at University of Portsmouth
Lee Fitzgerald – Director at Fraud Advisory Panel

A video and summary of this session is available here: https://www.theospas.com/2021/06/09/should-the-reporting-of-fraud-be-made-compulsory/

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