The OW Bunker which is ship fuel supplier from Danish has in investigating a fraud case related his employees at its Singapore base subsidiary Drynamic Oil Trading. The expected potential loss of US$125 million has been putting OW Bunker & Trading A/S and OW Supply & Trading A/S in expected to be insolvent.
More detail of the news can be reached by the following this link, Danish-Firm-Fraud Case.
There are many businesses in Singapore is exposed in risk of the fraud case involving the employee and it is not limited to MNC company but Small Medium Enterprise are also facing the same problems. With the involvement of such illegal activity, the business reputation and financial impact may lead to insolvent like the OW Bunker for example.
Businesses and employers shall not take it for granted and any early action and detection will help to minimise the impact in term of financial and reputation, in additional to that a preventative measures can be implemented.
Professional Investigation Services
Despite the internal investigation team, businesses can consider the option of engaging external private investigators to perform the discrete checking to resolve the issues. Privateye Investigation & Consultancy is providing comprehensive investigation services to serve the local and MNC companies and be able to work with internal investigation team and attorney and we had been helping many of our client in resolving such commercial fraud cases.
Talk to our delegated Private Investigator for your enquires.