Legal Analyst, Hrm
Strategic Advisor And Initiator To Business
KPMG's tax shelter and kickback scam - Dep Chairman Jeffrey Stein and 7 execs indicted - Newsday - 30Aug2005
New Century Bankruptcy Examiner Says KPMG Aided Fraud (Update4) - Bloomberg.com <link updated to site home> ( Search On Cite | Search On Google )
Asia Times Online :: South Asia news, business and economy from India and Pakistan
PwC Settles Tyco Investors' Suit Over Fraud - washingtonpost.com
10th June 2010 From India, Delhi
Over the years I have understood one thing that companies and government equally thrive on black money, and at some point in time they all are involved in money laundry in huge ways.
As per a write up, Black money fuels about 20percent of Indian GDP.
Now think,why there is so much of corruption.
10th June 2010 From India, Mumbai
10th June 2010 From India, Madras
I fully agree with your views. But, my intention to point out was whether these audit companies, which themselves had the track record of involvement in frauds, can give any real and valuable advice in the name of prevention of frauds? I hope you will agree with me that any survey by such type of companies, which had also a track record of their own involvements of frauds, cannot be devoid of any bias in their findings through such surveys. I consider such type of stints just the act of eyewash just to provide a cover up to their own positions or to dilute their own sins in the affairs of corporate governance. If they can pay billions of dollars in the shape of fines through court judgments, one can imagine how much and by what mode they would have stripped the corporates with money.
You may perhaps further agree that frauds/money laundering in companies cannot be possible much unless their is a clear connivance of the auditors.
11th June 2010 From India, Delhi
11th June 2010 From India, Delhi
Well.. the issues are much greater now. There is a growing concern with respect to the document fraud in the immigration process and unfortunately the perception of Indian talent is greatly affected.
I wish to share a document by the Economic Intelligence Unit, published in the year 2007, titled -
'Paper Chase - Document fraud in the immigration process'
Alarmingly, document fraud is directly linked to crime at a higher level including human trafficking especially in the cross border movement of people.
I have also included our organisations Strategic Initiative to curb document fraud, and has been actively seeking to generate awareness to the need to curb document fraud and the related brokerage of Intellectual capital.
OUR GROUP ON CITEHR : OPEN REGISTRY OF VERIFIED KNOWLEDGE WORKERS: FREE Employee Verification
I'd invite your thoughts
Frauds to increase, feels India Inc - Times Of India
Want a job overseas? Beware of fraud - Rediff.com Get Ahead
9th April 2011 From India, Mumbai
Thank you for sharing valuable article with our members.
In corporate level, the Top level management is always concerned about the performance and achievement of its employees. That's the reason the management is not willing to take severe action against erring employees involved in corruption and frauds. The Best performing employees are using the brain and making wealth (unduly) which is being tolerated by the management upto some extent. Whenever the level exceeds and the company or the specific project started incurring loss, the management takes stingent action against the defaulting employees even upto the extent of throwing them out from the organisation.
The above explanation will make Mr. Dhingra to understand why the organisations are still not taking any stringent action against the erring personnel in their organisation.
I really appreciate Mr. Octavious for initiating such a mind blowing and knowledge enhancing discussion on Frauds in India.
11th April 2011 From India, Kumbakonam
I differ with your views that "the best performing employees are using the brain and making wealth (unduly) which is being tolerated by the management upto some extent." The fact is totally on the reverse side. The best perforning employees never think about their involvement in frauds or corruption, as they don't find any time even to remotely think about that due to their full concentration on their performance only. Rather, you will find that the best performing employees are neither compensated adequately for their performance, nor they are made so close by their bosses to know about their secrets. It is only the wicked brain employees, who just think nothing except about making wealth by hook or crook and don't bother on their performance except to please or grease their bosses, or merely the touting employees who are never the best performers but think just on making wealth either due to their being very close to the top management, which closes eyes even on reporting against those employees, or some of the top bosses even use them to make corruption on their behalf also keeping themselves in disguise.
The reason behind organisations not taking any stringent action against the erring personnel in their organisation is not the best performing employees, BUT, the involvement of a few of the top bosses, themselves, in the corruption. No honest management spares even the best performing employee when the question comes to corruption and fraud on his part. I can bet that in the black money cases, you won't be able to find even a single account of any best performing employees in any Swiss bank or any other foreign country account. On the contrary, you would find the accounts of politicians, top bureaucrats or the business tycoons, who believe in giving and taking bribery. IT IS MERELY THE MISCONCEPTION OF YOUR MIND.
I wonder, what made you think about the best performing employees using their brains to make wealth (unduly)?
12th April 2011 From India, Delhi
Our Initiative seeks to identify corporate leaders that are willing to partner in helping to change the global recruitment market methods. We want to build a largest open registry of verified professionals. And we want your help! Every resume of our member in our database gets a special screening for fraud. Our verification process is simple, intuitive and fast. Our members have their own verified member profile page in our system that helps promote the sincere and the genuine talent.
NOSTOPS is a premier destination for employers, with an *OPEN data-bank of verified knowledge workers*, that are *Indian Nationals*. Our verification technology is simple, intuitive, and background checks are performed almost in real-time, free of any third-party or human intervention.
At NOSTOPS we look at jobs from the employer view point, finding the right talent is an ever increasing challenge with the amount of document fraud involved. The redundant background checks, the increased costs of performing a background check, the delay in making the hiring decision and the eventual cost of a wrong hire, is a concern for employers. The need to identify fraud and eliminate it at source sits at the core of issues faced by employers. Often companies do not disclose information pertaining to their employees, thus indirectly perpetuating fraud.
This is a cyclic phenomenon. Unqualified workers flood the market inducing a fake competitive market, increasing the xenophobia. It is therefore critical to promote an open registry of the good, eliminating the unqualified workers.
To the HR personnel, running background checks is a redundant process increasing the time in making an early hiring decision. Via our initiative, the value proposition to the employers is to make available an OPEN repository of genuine talent, the best and the brightest. We do this be eliminating those bad apples which are fraudulent and less performing.
Our value proposition to the Employers - Tremendous Cost & Time Saving, Reduction of expose to fraud, Open & Transparent Model of execution
-Dedicated Company Profile page
-Receive only verified job applicants
-Search and source qualified and verified candidates
-Look up job applicants verified documents online, contact them direct
-Unlimited previous employment Verification with co branded membership cards for their employees
-No brokerage fees, eliminate brokerage of intellectual capital
-Non dependence on third party verification agencies
-No redundancy in verification process
-Verification as an outsourced model that is Simple, Fast, Immediate and FREE
-Tremendous time savings for the HR personnel
-Tremendous cost savings in lateral recruitment
-Participate in a early adapter initiative to -
(a) Create an open employment void of employee fraud.
(b) Reduce corporate expose to employee fraud.
(c) Significantly reduce corporate HR employee validation expense
How does it work ?
You post your available job openings with us, and receive applications only from those that are verified for authenticity. You make an informed decision knowing they have been vetted by us. When you post your available job openings, our system matches them with those in our database and alerts you of available candidates.When we pre -qualify all your job applicants, there's an immediate benefit to your organization. You may search our extensive growing database of verified members or look up their verified documents before you decide to contact them! We not only reduce the time to market for our members when searching for a job, it helps our employer partners make precise hiring decisions. we thus minimize risks, to you our partners and our members.
IMPORTANT: WE DISCOURAGE JOB POSTINGS FROM PLACEMENT AGENCIES, UNLESS REFERRED TO THEM BY DIRECT EMPLOYERS.
I'd be happy to answer your queries/concerns
20th April 2011 From India, Mumbai