(MENAFN - Muscat Daily) Curtis Oman organised a seminar on 'Focus on Fraud' at the Grand Hyatt Muscat on Tuesday.
The seminar provided an overview of Oman's regulatory landscape and its impact on businesses, with insights from Curtis' fraud lawyers, global risk consultancy Control Risks, and global professionals.
The event highlighted instances of fraud and bribery perpetrated in the region and the world. The speakers highlighted that businesses need to be vigilant about fraud, bribery and corruption, and strengthen their anti-fraud processes.
Curtis is an international law firm with its headquarters in New York and 16 offices worldwide. Curtis Oman has provided a full range of legal services to Omani entities and individuals, the Oman government and multinational clients for more than 17 years.
Jamie Kellick, counsel, Curtis Oman, gave a presentation on 'Combating fraud, bribery and corruption in the sultanate, the legal landscape and its implications.'
He said, ''Given what has happened in the last 12-18 months in the world in relation to fraud and corruption, people are taking notice of how is it going to affect them and their organisation's reputation. This is not just in relation to Oman and the Middle East, but corruption and bribery is a global phenomenon.''
''It is a very important subject and companies should think about what they have to do to combat fraud and bribery. This is important for every business and every individual working for the business,'' Kellick added.
The seminar, attended by representatives from the banking industry and other sectors, is the first in a series of planned breakfast seminars by Curtis Oman.
Paul Callaghan, partner, KPMG Oman, spoke about fraud and governance that included dealing with fraud and misconduct, types of fraud and fraud risk management framework.
He said, ''This is a global phenomenon. It is not local, not regional, but all around the world. Anti-fraud programmes are unique at every organisation as each organisation represents different challenges, different business, risks and different approaches. For fraud risk management, you need to understand what are the risks your business faces.''
Nick Roberts, director - corporate investigations MENA at Control Risks, made a presentation on 'Responding to Fraud,' wherein he highlighted that the response to fraud is as important as its prevention