Forensic Accounting & Financial Crime |

About Event

This session aims to understand the impact of the recent regulatory changes within the BFSI sector (read: RBI’s master circular on FRM framework) of forensic accounting and financial crimes incl the legal impact of the three (3) new laws implemented from July 1, 2024. It will also analyze how forensics (especially Forensic Act) will provide itself as an effective tool needed to reduce fraud. This session would be helpful to numerous organizations in field of finance be it banks, nbfc’s, securities, mutual funds and in litigations support functions to assist in reducing incidences of corrupt practices in the BFSI sector.

Financial crime is generally believed to be the fundamental problem in Indian economy and has hindered the economic growth and development in the past decade. Interestingly, no internationally accepted definition of financial crime exists, rather the term expresses different concepts depending on jurisdiction and context. Financial crimes are varied and are committed by individuals and institutions. The IMF interprets financial crime in a broad sense, as any non-violent crime resulting in financial loss, and when a financial institution is involved the term financial sector crime is used. The Indian jurisdiction recognizes the financial crime as “economic offence against the nation”.

The problem of financial irregularity is that it has become a global concern. It is here that forensic accounting arises from the need to curtail the effect and causes of fraud and technical error made by humans. Forensic Accounting is quite new and still in nascent stages in Indian environment and as per the latest regulatory changes since 2022 post Covid-19 as a country we have realized that forensic accountants’ services are strongly needed to tackle the issue of financial crime which has substantially increased by number and cost.

The effects of financial crimes in corporate organisations are grave and that is because based on the experiences drawn from 2009-2019, it is against this backdrop that forensic accounting has emerged, and it responds to simply growing sophistication and awareness of these crimes.

Most importantly, the advent of forensic accounting landscapes with its requisite skills is fast becoming popular in providing evidence in prosecution of causes related to money-laundering, terror financing, financial market manipulation, bribery as well as assist in dispute resolution. Its impact is also felt in resolving litigation cases by providing fraud and risk analysis that forms the basis of discussion, debate and dispute resolution.

NIKHIL PARULKAR - MFAcc, CFE, CAME, CVIE

A forensics and fraud risk professional with an diverse exposure of 20+ years in banking & financial services industry and risk consulting.

Having in depth domain expertise in consumer(retail) /wholesale banking specializing in areas like assets, liabilities, corporate lending portfolios related to operations and risk management within fraud and compliance

Having taken exposure on the other side of industry in risk consulting where my domain expertise lie in forensics & fraud risk management (fraud, compliance and operational).

Setting up, developing modules on forensic & fraud risk (w.r.t different sectors) and training internal and external stakeholders, clients, senior management whereby creating risk awareness in a ever changing market scenarios within forensic/risk domains

Keynote, guest speaker and guest faculty IIM-Raipur, Vishwakarma Institute of management, Sinhagad Institute of Management, National Insurance Academy(Pune) various anti-fraud seminars and conferences.

An honorary “subject matter expert “at National Forensic Sciences University for FS NFSU Certified Fraud Examination Professional

Visiting Faculty at Welingkar’s Institute of Management WeSchool for “Fraud and Risk Analysis”

Visiting Faculty at BSE Institute Ltd for Forensic Accounting Training

A Certified ISO27001-LA (ISMS) since October 2010.

A Certified Fraud Examiner from (ACFE) since Feb 2009

A Certified AML expert from Mar 2008 from India Forensic Research Foundation (2008)

A Certified Vigilance & Investigation Expert (CVIE) since 2018 from India Forensic Research Foundation

Specialties: # Executing effective risk management (fraud, compliance and operational)

# Forensic accounting, fraud risk assessments

# Corporate Investigations and law enforcement liaison

# Cyber law, KYC, integrity due diligence, whistle-blower investigations, AML/CTF investigations

# Diverse exposure in banking sector, risk consulting and BPO

# Domain expertise in consumer (retail)/wholesale banking, assets and liabilities, insurance, capital markets, ecommerce

# Training & Development

Experience (22+ years) :
Principal Consultant at Ocurisc Consulting – November 2020 till Date
Vice President and Head (Market Intelligence) at RBL Bank Ltd – April 2015 to September 2020
Chief Manager and Head (Credit Intelligence Unit) at Kotak Mahindra Bank – October 2012 to April 2015
Associate Director – Corporate Investigations at Control Risks – February 2012 to August 2012
Chief Manager & Head (Risk Containment Unit – Wholesale Banking) at Kotak Mahindra Bank – February 2011 to February 2012
Associate Consultant (Forensics and Fraud Risk) at Mahindra Special Services Group – October 2009 to February 2011
Deputy Manager (Risk Control Unit) at HDFC Bank Ltd – April 2007 – September 2007
Consultant (FIDS) at EY – February 2007 to April 2007
Asst. Manager (Risk Containment Unit) at ICICI Bank Ltd – July 2004 to February 2007
Senior Executive at TCS eServe (Citigroup Global Services) – February 2001 to July 2004

Join us on 18th October 2024, The Lalit, Mumbai.

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Key Topics to be Covered

Day One Day Workshop

1. Forensic investigation and its approach in BFSI sector with changing fraud risk management

2. How will forensic accounting help to reduce the incidences of fraudulent practices in India considering the new laws

3. Use of Market Intelligence in pre and post transaction stages

4. Using OSINT and SOCMINT for investigations

5. Financial crimes and its impact on litigation and law enforcement

6. Case Study on shell companies, mule accounts (a criminal perspective)

Key Topic to be Covered

Who Should Attend

Head of Fraud , Head of Legal Compliance , Head of Compliance Officers , Internal Auditors, Risk Management Consultants, Risk Managers , Forensic Accountants , Chief Internal Audit

Pricing

Package	Delegate	Standard Rate
Soft Copy & Hard copy of material + morning refreshments, Luncheon,Evening refreshments	Indian	15000 + 18% GST per delegate

*Additional GST of 18% is applicable.