As the regulatory environment becomes stricter around corporate governance, many Indian companies, conglomerates and banks are setting up internal investigation teams to probe frauds and corruption.
Among those who have already set up these teams, Reliance Industries, Hindustan Unilever and ICICI Bank have some of the best teams, people with knowledge of the matter said. Even multinational banks like HSBC and Citi have internal investigation teams in place. Many others have also started building up their internal investigation teams that can look in to allegations of fraud by employees as well as those related to kickbacks and sexual harassment.
Reliance Industries, Hindustan Unilever didn’t respond to emails seeking comment. ET had on October 21 reported hiring of internal investigators by HSBC and Citi.
The original article can be found at economictimes.indiatimes.com