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A recent report highlights that in the past couple of years 59% of Indian companies have reported experiencing financial or economic fraud, a figure that is 18% above the global average of 41%, and marks a notable increase from previous years. Against this backdrop, antecedents of the founding team, remains a critical factor when evaluating a startup.
Alea is one of India’s first (homegrown) private global risk, fraud mitigation, and investigative consulting firms, helping organisations reduce reputation and operational concerns. They have expertise in conducting corporate investigations across industries, including FMCG, energy, education, e-commerce, banking, EPC, fintech, healthcare, insurance, logistics, manufacturing, mining, pharmaceutical, real estate, retail, renewables, startups, and telecom.
Fraud has been a persistent threat since ancient times. One of the earliest known cases dates back to Greece in 300 BC, where Hegestratos attempted to deceive shipload insurers by sinking his boat and keeping the cargo. While he drowned in the process, this highlights that fraud is not a new phenomenon.
Employees are a crucial asset to any organization, as their skills, talents, and abilities are fundamental to its success. There continue to be, however, growing instances where employees exploit their positions for personal gain at the expense of their employer.
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