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Where
Bank of Shanghai Taicang Sub-Branch
Dongcang South Road 35
Taicang, Jiangsu Sheng, China
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Fraud Risk Management: Addressing and Mitigating Fraud Risk in China
One of the cornerstones of President Xi Jinping’s administration is cracking down on corruption. This unprecedented anti-corruption effort throughout China has exposed a business culture in both the public and private sectors that is plagued with fraud. Multinational companies operating in China have now been put on notice that China’s enforcement agencies will not tolerate corruption and other fraud. Changes on China from abroad may present similar risks. While some governments, such as the Trump Administration, remain openly critical of Chinese imports, currency manipulation, and other business practices, U.S. and UK enforcement agencies of all kinds are turning greater attention to multinational companies that operate in – and source from – China. Foreign companies in China have strong incentives to strengthen their internal controls and improve their capacity to monitor Chinese fraud. Our speaker will discuss the following topics: (1) Current fraud trends and the anti-corruption campaign in China; (2) How to identify and detect red flags that may be apparent from headquarters;(3) Recommendations for multinational companies to mitigate fraud schemes in China; and (4) Best practices multinational companies should consider in responding to fraud.
Cross-border Financial Solutions: How Do Policies Affect Foreign Companies and What Value Can Banks Offer?
Nowadays, more and more international companies have established their factories and subsidiaries in China as per the economic growth and booming of the Chinese market. This triggers need for local support on both, financial and non-financial services.
What is the most convenient and practical way of cross-border financial operation?
How do the transaction policies work under the government’s regulation?
Starting with an introduction on the most recent cross-border transaction policies that mostly affect foreign companies in China, Ms. Elaine Feng and Ms. Silei Huo share practical insights for those who conduct cross-border business, in order to bespoke optimal solutions, form an operational perspective.
Language: English
One of the cornerstones of President Xi Jinping’s administration is cracking down on corruption. This unprecedented anti-corruption effort throughout China has exposed a business culture in both the public and private sectors that is plagued with fraud. Multinational companies operating in China have now been put on notice that China’s enforcement agencies will not tolerate corruption and other fraud. Changes on China from abroad may present similar risks. While some governments, such as the Trump Administration, remain openly critical of Chinese imports, currency manipulation, and other business practices, U.S. and UK enforcement agencies of all kinds are turning greater attention to multinational companies that operate in – and source from – China. Foreign companies in China have strong incentives to strengthen their internal controls and improve their capacity to monitor Chinese fraud. Our speaker will discuss the following topics: (1) Current fraud trends and the anti-corruption campaign in China; (2) How to identify and detect red flags that may be apparent from headquarters;(3) Recommendations for multinational companies to mitigate fraud schemes in China; and (4) Best practices multinational companies should consider in responding to fraud.
Cross-border Financial Solutions: How Do Policies Affect Foreign Companies and What Value Can Banks Offer?
Nowadays, more and more international companies have established their factories and subsidiaries in China as per the economic growth and booming of the Chinese market. This triggers need for local support on both, financial and non-financial services.
What is the most convenient and practical way of cross-border financial operation?
How do the transaction policies work under the government’s regulation?
Starting with an introduction on the most recent cross-border transaction policies that mostly affect foreign companies in China, Ms. Elaine Feng and Ms. Silei Huo share practical insights for those who conduct cross-border business, in order to bespoke optimal solutions, form an operational perspective.
Language: English
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Speakers & Moderator
Elaine Feng
Regional Manager of International Desk Team at Bank of Shanghai
Silei Huo
Head of International Desk Team at Santander China
Tim Klatte
Partner of Forensic Advisory Services practice at Grant Thornton China
Sarah Oemmelen (Moderator)
Deputy Manager at PwC
