Corporate risk experts warn against fraud by stating that Firms facilitating unscrupulous activity should expect harsh international sanctions.
That’s the message from a Douglas-based anti-fraud and corporate risk consultancy, after an Island company fell foul of the US Department of Treasury.
PacNet, which processes international money transfers, has been accused of assisting multi-million dollar mail fraud schemes in America – an allegation which boss Paul Davis vigorously denies.
But Dave Bell of Expol Ltd says as a general rule, companies must be aware of criminal activity and fully accountable for their practices – especially in dealing with major international jurisdictions. Listen to the audio clip at: