Information Fraud Investigation
( Media & Entertainment )
An employee-vendor nexus is a common risk in any industry. This is however a potentially high risk area in the M&E industry due to its culture of placing too much reliance on individuals (based on trust). This results in work being more person-dependent than process-driven. There have been too many instances of fraud committed by employees in collusion with third parties in this sector. Companies have learned the hard way to invest in timely fraud assessment to proactively guard themselves against such eventualities.
A large media conglomerate faced an instance of fraud. Legaligence was able to crack this case in a month’s time that involved nexus between the Vendor & the senior employee. The modus operandi was the Advertisement Releasing Agency was sharing the kickback with the organization’s senior employee heading Global Communications Team.
A detailed investigation was carried out to expose the involved parties and subsequently a process was designed to ensure that such incidents do not take place in the future