Kroll Advisory Solutions has announced a senior hire to its Investigation and Disputes practice with the appointment of Miang Lee as Associate Managing Director.
In her role, Miang will focus on investigations and anti-corruption measures for clients across Greater China.
She will report to Colum Bancroft, Managing Director and leader of the Investigation and Disputes practice in Greater China.
“China continues to be a major geographic focus for Kroll,” says Colum Bancroft. “Over the last year, the team has been involved in multiple investigation cases, involving employee fraud, supply chain fraud and corruption. What starts off as an investigation into what the client perceives as a minor fraud often unravels into a widespread corruption concern.”
“We have also seen an interesting trend begin to develop over the last few months, where more and more multi-national and Asian companies are coming to us for advice on how to mitigate fraud and corruption through conducting risk assessments, training, and helping them to establish a rigorous compliance function. This trend is, I believe, a result of the international move towards strict enforcement and stiffer penalties, as well as – in some cases - the financial and reputational damage caused by previous incidents. Our own research tells us that while foreign companies in China are increasingly aware of international legislation, such as the FCPA and UK Bribery Act, they still do not know how or when these pieces of legislation apply to them, or how to protect against a violation.”
Kroll believes this trend will continue as economic data shows growth in China slightly re-accelerated in Q4 2012, and the country continues to make incremental relaxations to its monetary and fiscal policies for overseas investors.