The Network in the News

Encourage Whistle-Blowers To Douse Fraud

January 20 2012

by Steve Watkins, Investor’s Business Daily, January 19, 2012

The number of fraud incidents that firms face is rising, according to two recent surveys. Company leaders can take steps to fight the fraud and limit damage if it does occur.

- Pay attention. The incidences and cost of chicanery have increased, according to accounting firm PwC’s recently released 2011 Global Economic Crime Survey. It showed that 45% of those surveyed said their company had experienced scams in the past year. That’s up 10 percentage points in two years. And half said fraud had cost their firm over $100,000. That also was up 10 percentage points. The good news is people are focusing on the problem more, which may explain why more cases are discovered and…

Enhancing Compliance Initiatives Keeps You Ahead of Regulatory Change

January 18 2012

by Luis Ramos, CEO, The Network, in BankNews (January 2012)

Regulatory Compliance While we are beginning to see some rays of sunshine amid cloudy economic times, beleaguered financial institutions continue to face increasing regulatory and compliance demands along with a great deal of consumer scrutiny. Community banks in particular struggle with the twin challenges of limited resources and a perpetually changing regulatory environment.

Because of limited resources, the fallout from regulatory non-compliance can be catastrophic to the smaller bank. Community banking executives are fully aware of the impact of regulations and the fact that regulatory agencies often demand the same level of compliance infrastructure found in larger institutions.

The best defense is indeed a…

The Future of GRC: Integrating Culture and Technology

January 16 2012

by Luis Ramos, CEO, The Network, in Compliance & Ethics Professional (Jan/Feb 2012)

* Companies are increasingly interested in improving GRC processes to meet tougher legislative pressures
* Companies are leveraging GRC as a way to enhance business value
* The massive adoption rates of social networking are creating additional sources of risk in the workplace
* GRC is a business tool that if properly implemented helps companies be more successful
* Companies will see a trend where more internal GRC functions will work together in an integrated fashion

Corporate officers from diverse industries and enterprises, of every size and shape, are looking to integrated GRC as a means to protect their interests, build business value, and reduce the drag from…

Fraud Reports Rose Again in Q2

December 27 2011

from BDOC Viewpoints

BDO Consulting and The Network, Inc. released the second quarter 2011 findings of the Quarterly Corporate Fraud Index™, a comprehensive examination of fraud incident report activity from almost 15 million employees worldwide. BDO Consulting Partner Glenn Pomerantz and Luis Ramos, CEO of The Network, Inc. recently spoke with Compliance Week about some of the trends behind the findings. The Q&A below is adapted from this interview.

According to the Quarterly Fraud Index, reports of corporate fraud rose to 20.8 percent of all compliance reporting activity in Q2 2011, its highest peak since the index was created in 2005. What do you think is driving this?

Pomerantz: The record level of fraud reporting is a link to the growing willingness by employees…

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IN THE NEWS

Strengthening Security Through Compliance

Security measures are essential for protecting people, assets and information, and compliance makes sure those measures are effective. A healthy compliance program will bolster your security measures and find weaknesses before they become problems.