Spanish Chamber of Commerce in the United Kingdom

Etiqueta: Risks

  • BREAKFAST SEMINAR “FRAUD: MANAGING THE RISK TO YOUR BUSINESS”

    On Tuesday 2nd February, the Spanish Chamber held the seminar “Fraud: Managing the Risk to your Business” in collaboration with Haymarket Risk Management, member of the Chamber.

    On this occasion, our Secretary General, Igor Urra, received attendees on behalf of our institution and introduced the speakers from Haymarket: Brian Mearns, Managing Director, Richard Kusnierz, Divisional Director Advanced Investigative Data Analytics and Geoff Chalder, Divisional Director International Crime.

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    From left to right, the speakers from Haymarket Risk Management: Richard Kusnierz, Divisional Director Advanced Investigative Data Analytics, Brian Mearns, Managing Director and Geoff Chalder, Divisional Director International Crime.

    To kick off, Brian Mearns talked about the role played by Haymarket in order to help other companies to fight against fraud and revealed the three main aspects that compose a proper Fraud Response Plan, which would be covered during the session: prevention, detection and response and  investigation .

    After this brief introduction, Geoff Chalder went on to show attendees the size of the problem in the UK in terms of business losses and number of fraud incidents, as well as undetected fraud cases. Moreover, he explained the impact and damage caused in business reputation due to these practices and mentioned some of the main existing threats, such as payroll fraud, procurement fraud, theft of goods or money and bribery and corruption.

    Regarding these threats, Brian Mearns discussed real cases where internal employees and known relationships were involved; demonstrating how difficult is for companies to be aware of fraud existence.

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    The organizers of the seminar: Haymarket Risk Management and the Spanish Chamber of Commerce in Great Britain.

    After that, Richard Kusnierz explained the two first stages of the Fraud Response Plan: prevention and detection. In this sense, he emphasized that it is essential to understand the data and evidence available by having a pre-screening of employees and business partners as well as an internal audit and controls.

    To conclude the seminar, Haymarket’s Managing Director Brian Mearns focused on the response and investigation stage after the existence of fraud has been detected. He also commented on the relevant aspects about data protection in both the United Kingdom and the European Union before summing up the main topics the different speakers had covered.

    The event then moved on to the Q&A session, where the representatives of Haymarket responded to all the questions from the attendees. Once the session finished, participants could enjoy an interactive networking breakfast while sharing thoughts and discussing further all the ideas covered in the talk.

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    Once the talk had finished, attendees had the opportunity to network and exchange their opinions about the session.

    If you want to find out other activities that the Spanish Chamber of Commerce is organising, we encourage you to keep an eye on our UPCOMING EVENTS section within our website. In addition to this, you can also subscribe to our weekly newsletter in order to receive updates with our events.

  • WOULD YOU LIKE TO PREVENT FRAUD IN YOUR BUSINESS?

    Even with the continuous measures carried out by companies to prevent it, fraud continues being one of the main threats for companies all around the world, regardless of size, sector or country.

    It is an increasing risk to businesses.  This risk is especially high for new businesses, or when entering into new markets or new ventures with untested associates. In addition, fraud can destroy your business, damage your reputation, cause huge financial loss, and have a negative impact on staff and client confidence.

    At the same time, according to the former National Fraud Authority, fraudsters are incredibly inventive. They use a wide variety of means to target their victims and their single ambition is to deprive their victims of money without any concern for their well-being. In fact, according to the same source, the annual loss to the UK economy from fraud has reached £52 billion.

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    Managing the risk of fraud contributes to succeed in your business.

    In order to help our members to prevent these kind of practices in their relationships with another companies, we are joining forces with Haymarket Risk Management Ltd, member of the Spanish Chamber, with which we will be organising the seminar “Fraud: Managing the Risk to your Business” on Tuesday 2nd February at our premises on Wigmore Street.

    This seminar is aimed at anyone who wants to reduce the possibilities of being a victim of fraudsters or, at least, to know further information about some key types of fraudulent attack, common methodologies, and actions that business managers may consider to prevent fraud and mitigate the risk to their business.

    Places are very limited and they will be offered free of charge for members. The full details of this activity, along with the registration form, can be accessed by clicking here.

    Don’t miss the opportunity to fight against fraud!

  • SOCIAL MEDIA: MANAGING THE RISKS

    Social Media is certainly becoming a trending topic amongst professionals since its business usage has significantly increased in recent years. However, it could also represent a risk if companies do not properly manage their own social media networks or their use among employees.

    In order to find out more about how to tackle potential risks arising from this situation, we hosted a breakfast seminar in collaboration with Colman Coyle LLP, a member of the Spanish Chamber, on Tuesday 19th November. The seminar focused on approching key management issues resulting from the inappropriate use of social media by employees and managers.

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    From left to right: Mr. Ignacio Morillas-Paredes and Ms. Sandra Martins from Colman Coyle, and Mr. Igor Urra, Secretary General of the Spanish Chamber.

    The seminar was delivered by Sandra Martins, Senior Associate in Colman Coyle’s Employment Department. She is also part of Colman Coyle’s International Legal Service and Anglo-Spanish Legal Service teams.

    Her presentation focused on how manages can combat some of the troubles caused by social media as well as how they are able to reduce the risk through the use of the inner policies. She highlighted the importance for organizations to have a social media policy, which must be very clear for employees to ensure an efficient protection of the company’s reputation.

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    Ms. Martins delivering the session.

    In order to emphasize the consequences of a misuse of social networks, Sandra shared some recent case studies on employees who have acted inappropriately on social media platforms and what impact and consequences that behaviour had for both the employee and the company.

    One of the examples Sandra brought attention to was the case of an employee who had published a derogatory statement about his company in his private Facebook profile. Someone else from the company printed the comment and passed it on to the store manager where the employee worked, who sacked him on the spot. Despite the comment being made in a private page, the tribunal stated they did not find that the dismissal decision fell outside the range of reasonable responses as the company’s social media policy was very clear in that regard.

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    Attendees exchanged their opinions over coffee.

    As this is still a somewhat unknonw and tricky area, attendees were listening attentively and interacting with the speaker for advice on how to make sure that they will avoid any problems involving social media issues at their companies. After the session, the participants could exchange their impressions on the talk and enjoy some breakfast.

    If you would like to find out more about other activities organised by our Chamber, we encourage you to keep an eye on our UPCOMING EVENTS section on our website. We look forward to seeing you at our next event!

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