Detection of Risks and Fraud Activity

Fraud Management Programs

Internal audit can often be a key tool to identify and effectively address internal fraud. Doing business in Russia has in many cases forced organizations to take an extra look at this problem.
Addressing the risk of fraud in a company effectively and efficiently is a major topic of concern for owners, boards of directors, management and other stakeholders.

MLB Advisory has adopted a proactive approach in assisting our clients managing fraud risks by
ensuring that appropriate controls are in place
to help prevent and detect fraud.
We use our skills and available technical tools to develop and maintain a successful fraud management program, which covers prevention, detection, investigation and hand-over to police authorities, if necessary.

Our experts, who have extensive experience of fraud detection in the Russian Federation and Soviet Union before that, are applying their critical thinking to identify high-risk areas and penetrate down to specific transactions.
Also, they are looking beyond controls and systems in order to find “loopholes” and have an understanding of how various “relationships” can work together against the interest of the shareholders.

In this context, with the consent of the client, we sometimes put our people inside the company to map out and understand the mechanism between different vendors and the purchasing department and between top managers and clients and so forth.