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2. Алавердов А.Р. Управление персоналом в коммерческом банке. - М.: Соминтэк, 2011. - 255с
3. Ловягин А.Е. Банковский персонал: подготовка, повышение квалификации и управление. // Управление персоналом. 2011. № 4. С. 54 - 57.
4. http://report-sberbank.ru/sr/
© С.Г. Кренева, А.В. Александрова, 2015
УДК 336.025
Ю.К. Алибекова
Магистрантка 2-го курса, кафедра «финансы и учет»
Университет КазГЮУ Г. Астана, Республика Казахстан
CORPORATE FINANCIAL COMPLIANCE AS AN INTEGRITY-BASED ANTIFRAUD TOOL
Аннотация
The 'Compliance' Concept has appeared just in the light of the globalized financial system, resulting in capital consolidation since the early 90s. It often happens that employees in companies can conduct foul games behind the back of the management. Non-compliant behavior may entail large expenditures, threatening the Fl's continuity and survival. As developed as separate guidelines Corporate Financial Compliance is a key to the profound corporate culture and helps to establish non-compliant behavior related to fraud practices.
Ключевые слова Corporate financial compliance, fraud, integrity, compliant behavior Every year investors look more about global processes. Let us remember recent scandals arising from non-compliant behavior mostly connected to fraud and corrupt practices. These adverse events do not encourage reputable investors entailing growing debts, slow economic growth, dwindling resources, financial losses, huge penalties, loss of reputation and finally bankruptcy - all these present compliance risks which are supposed to be the deadliest threat for financial institutions (hereinafter as FIs). In this sense corporate financial control is emerging as law for our societies.
The 'Compliance' Concept has appeared just in the light of the globalized financial system, resulting in capital consolidation since the early 90s. It often happens that employees in companies can conduct foul games behind the back of the management. Non-compliant behavior may entail large expenditures, threatening the FI's continuity and survival.
Regular headlines reveal that breakdowns of integrity expressed in litigations, large costs, sanctions, reputation and image damage, and potentially land senior management in prison. No company is immune from these threats. Prudent businesses must plan to manage their integrity continuity by assessing their vulnerability to disasters, taking proactive measures, and preparing their organizations to mitigate and survive.
Corporate Financial Compliance must be based on the Integrity principle as a priority for business conduct. Employees who know that particular decisions, behaviors, and workflows exist in an ethically judged context are more aware and motivated to act ethically. Employees who perceive such activities as detached from an ethical context or who utilize an alternative (unethical) value paradigm (i.e. financial or perceived performance) are less aware of ethical implications and more motivated to act unethically. FIs must obligatorily develop and implement specific-purpose guidelines on Corporate Financial Compliance based on the four-eye principle (subject to regular audits). Corporate Financial Compliance aims to identify and manage non-compliant behavior related to fraud and corrupt practices. [1, page 145]
Financial industry executives agree that the rate at which internal fraud is occurring is on the rise. The usual suspects (credit and debit) remain the dominant payment types used in fraudulent transactions, and banks have seen an uptick in card fraud in particular.
As far as the channels where fraud is occurring, executives suspect that patterns may be changing, but they are unable to measure this because systems are not in place for issuers to track this type of transactional information. Executives also remain skeptical that recent and upcoming changes in regulation and the payment environment will have the predicted effects on fraud mitigation, and warn against complacency as a result.
Corporate Financial Compliance will help FIs to know to what extent a transaction is legitimate as follows:
• Tracking fraud and its related costs by channel and payment method
• Layered approach to fraud prevention.
• mCommerce merchants, and those considering accepting the channel, should implement fraud prevention solutions that specifically address threats to this channel.
• Be ahead of data security requirements.
• Raise thresholds for card fraud detection at the POS, at least temporarily.
• Do not rely on EMV to eliminate fraud—tokenization must be used in conjunction with 3-D Secure because multi-channel merchants are attractive data-breach and fraud targets.
Having the sound Corporate Financial Compliance is very important from my perspective. In the area of process compliance checking, the research community has conceptualized many potential solutions as artifacts. Corporate Financial Compliance serves as a tool for sustainable growth, capital consolidation, earnings, and market profitability. Therefore, Kazakhstan FIs must seek to implement Corporate Financial Compliance which must be based upon loyal behavior and trust among employees and clientele. As developed as separate guidelines Corporate Financial Compliance is a key to the profound corporate culture; will provides measures and indicators for early identification and fair treatment of fraud and corrupt practices associated with the willful and/or negligent conduct of top management or employees and adoption of remedial measures.[2]
Summarizing, I would like to pay your attention to the fact why corporate financial compliance is essential for us, why it has a strong effect for FIs - the reason for this is evident. The history has shown us that any felony and abuse lead to a catastrophe. And we must remember about this. That's why corporate financial compliance must be a 'Sword of God' cutting all evil and leading to order and prosperity of our Kazakh financial enterprises.
Bibliography:
1. Corporate Lawbreaking and Interactive Compliance: Resolving the Regulation-Deregulation Dichotomy, by Jay A. Sigler and Joseph Murphy, 2014-2015 ed. - p. 145
2. Article 'Corruption and fraud destroy second-tier banks of Kazakhstan' by Alexandr Vorotilov, Forbes Kazakhstan
© ro.K. Ann6eKOBa, 2015
УДК 336.025
Ю.К. Алибекова
Магистрантка 2-го курса, кафедра «финансы и учет»
Университет КазГЮУ Г. Астана, Республика Казахстан
FRAUD PREVENTION SOLUTIONS
Аннотация
Currently, business ethics and integrity of top managers and employees are often under a big question, so we cannot rely on them. Non-compliant behavior of top management and employees related to fraud and corrupt practices lead to huge financial losses, loss of reputation and litigations. Incidents of internal fraud and embezzlement are happening in every business imaginable. Fraud prevention solutions we recommend are the fundamental for corporate financial compliance. All stakeholders must be aware of corporate financial compliance.
