secret to managers and executives of modern companies that some of the
highest single losses of companies occur in cases of organized fraud
involving employees and suppliers. It is thus very important to monitor
procurement activities within the company and to conduct supplier vetting.
You need to know who your suppliers are in order to reduce your risks and
prevent fraud to the maximum possible extent. Company fraud incidents
create bad reputation.
Due diligence and a strict policy on
corporate responsibility are very important issues. Management is
responsible and will be held accountable when losses occur and their
business practise will be scrutinized.
financial investigations must
take place in order to counter these losses.
sad fact that in many companies criminal and unethical activities do occur
regularly which consequently lead to substantial company losses. This may
even be part of a sabotage strategy of competitors. Management needs to
take pro-active steps against fraud, which included suppliers vetting. The
Brillstein investigators are international experts on this field and will
the background and the associates of potential or current suppliers
incorporation status, nature of business and size of the supplier, and
any discrepancies with information supplied
out if the supplier is regulated by an appropriate authority
out who are the main individuals involved
on possible conflicts of interest
and interview other clients
the success of previous contracts
the financial performance of the supplier and his ability to fulfil the
upon any possible prior or ongoing litigation or bankruptcy proceedings
upon any adverse publicity involving the company or its main individuals
if there are any illegal or unethical activities or have been in the
customize the investigation according to individual client requirements,
is the contract concerned
nature of supplier's business
possible ties between supplier and the client's employees
the suppliers be made aware of the vetting
vetting is an integral part of any
crime prevention and
corporate security concept.