China (PRC)
| Risk consultancy firm Kroll has launched a dedicated Greater China financial investigations practice. The company said the move was in response to growing demand for internal investigations as international and local regulators increase their scrutiny, “with the most notable examples being increased enforcement of the Foreign Corrupt Practices Act by the US Department of Justice and the impending implementation of the UK Bribery Act.” The new team will be led by Colum Bancroft, who has joined Kroll as a managing director based in Hong Kong. “While Western and Asian governments have intensified their approach to eliminating corruption and bribery, local and international financial regulatory bodies have also stepped up their watch on the financial sector for suspicious transactions and misappropriated assets,” said Bancroft. “When uncovering the truth behind complex fraudulent business practices, it is important to interrogate the financials with an investigative mind-set in order to identify critical red flags.” Bancroft has 22 years of experience, including 18 years in Greater China, and has worked on complex business disputes and in areas such as asset tracing and recovery, insider dealing and share price manipulation, money laundering and fraud. He joins Kroll from the Hong Kong office of an international accounting firm. |
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