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Arbitration trends in the Middle East: What to expect in 2024 and beyond
The last several years have seen rapid growth in the Middle East.
Canada | Publication | April 6, 2020 – 3 PM ET
The fraud triangle is a well-known tool in understanding fraud. The three sides – opportunity, incentive, and rationalization – offer an explanation to a person’s decision to commit fraud. Similarly, they offer guides to preventing fraud: by addressing the three sides of the triangle, an organization can reduce its risk of fraud.
In a financial crisis, such as we are seeing during the COVID-19 pandemic, all three sides of the fraud triangle indicate an organization is at heightened risk of fraud. Individuals and companies facing serious financial pressure have incentive to commit fraud. Where there are staff reductions, employees working from home, or management focused on critical functions only, unique opportunities arise for committing fraud. Finally, the extreme stress of the pandemic offers ample rationalizations. It is the perfect storm for fraud. As such, companies need to pay more attention than ever to appropriate controls and procedures to prevent and detect instances of fraud.
An organization should consider the following as part of its fraud prevention controls:
Fraud risk management is an important business function in these uncertain times. Companies that fail to enforce strong controls will face the consequences in the months and years to come.
Publication
The last several years have seen rapid growth in the Middle East.
Publication
On May 14, 2024, Lena Haffner, Innovation Lead Germany at Norton Rose Fulbright, shared her insights on “How do you make a law firm AI ready?" at Legal Revolution 2024, one of Europe’s leading conferences in legal innovation and technology. Her lecture focused on developing a comprehensive roadmap for integrating AI into law firms, emphasizing the importance of developing a robust AI strategy and fostering an innovation-ready culture. Key topics covered in the lecture included strategic planning, skills development, multidisciplinary teamwork, and strong AI governance.
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