The year 2019 witnessed increased activity from enforcement and investigative agencies along with strict scrutiny by regulators. An uptick was also observed in internal and forensic investigations. This update summarises some of these developments along with our expectations for the year 2020.

THE YEAR THAT WAS

The year 2019 started with India being ranked 78th in the corruption perception index of Transparency International (a leading not for profit organisation). The year also saw several forensic investigations in the banking sector, where frauds rose to USD 10 billion in 2019, a 74% increase from 2018. Consequently, there was significant increase in the activity of enforcement and investigative agencies along with increased scrutiny by the regulators.

Interestingly, companies also took note of the increased enforcement activity in the white-collar crime space and there was an uptick in the internal investigations conducted by companies as a matter of abundant caution. However, on the legislative front, there was lesser movement, with the only major development being the appointment of the first Lokpal under the Lokpal and Lokayuktas Act, 2013 (Lokpal Act).

White-Collar Crime Investigations: Milestones in 2019 and a Look Ahead

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