EY put out a piece in January 2020 entitled “How to combat economic crime in a digital age”. The piece states, among other things:

“As well as the simple proliferation of existing crimes, technological developments have introduced new vectors for crime. The development of cryptocurrencies and their availability as mechanisms for storing or transmitting value in an anonymous or pseudonymous fashion have transformed some aspects of economic crime. Nonetheless, conventional business fraud seems, for the time being, likely to continue to be carried out using fiat currency.”

It also states that:

“The ability to analyze unstructured data alongside structured data sources and to integrate the findings using behavioral and social networking analytics allows employers, within the bounds of local privacy laws, to combine other techniques, such as predictive modeling, audio analytics, text mining and geospatial analysis, to build a comprehensive picture of risk indicators to guide those escalation decisions and target interventions where they will be most effective.”

EY put out a piece in February 2021 entitled “How to navigate the increasingly important and complex ESG agenda”. The piece underscores the increasing importance of understanding ESG issues, stating for instance:

“Flows into ESG-linked financial products and services have increased significantly during the pandemic. According to Morningstar, ESG funds attracted US$71 billion in net inflows between April and June of 2020, pushing total assets above $1 trillion. Sustainable funds have outperformed other funds during the pandemic, in part due to their low exposure to oil and gas during the selloff earlier this year.”

EY put out a case study entitled “How blockchain helped a gaming platform become a game changer”. It discusses, among other things, work with smart contracts:

“The first step in refreshing Microsoft’s legacy systems was to onboard royalty contracts onto blockchain in the form of digital contracts. The legal terms were then encoded in the blockchain network in the form of smart contracts. By opting in, industry participants can review and validate that on-boarded digital contracts are the same as the royalty contracts in a confidential manner.”

EY put out a piece in March 2021 entitled “How bribery, corruption or fraud issues can be deal-breakers in M&A”. The piece states, among other things:

“Bribery, corruption or fraud issues can be deal-breakers and impact the valuation of a target company or jeopardize the buyer’s business plan for the target company. There are methods to mitigate these risks, including due diligence and inserting representations and warranties clauses in the deal agreement.”

EY put out a piece in March 2020 entitled “How can you give hands-on training in a virtual world?”. The piece notes that VR has “caught the interest of the industries looking to train their staff more effectively.” It points out, for instance, an issue VR could help address:

“One obvious problem many companies face today is the limitation of training employees using 2D written or video material. In industries where real-life practical experience is essential, books and films just aren’t enough. Using VR gloves, people can use their hands just as intuitively as they can in real life.”

It also identifies the industrial, medical, and manufacturing sectors as industries “seeing a real benefit from the use of VR gloves and related technology”.

EY put out a piece in November 2021 entitled “How to ensure compliance and control in cryptocurrency”. The piece states, among other things:

“Compliance missteps can be costly and hinder the progress of growing organizations, potentially determining the success or failure of a crypto-involved business during this turbulent period. It is imperative that the issuers and trading platforms of crypto assets are flexible and adaptable as the legal requirements and regulatory frameworks are ever evolving. Addressing these compliance issues and taking full advantage of the available technology and expertise is vital to successfully navigating the cryptocurrency and blockchain world.”

EY put out a piece in September 2021 entitled “Impact of cybersecurity executive order on US Government contractors”. The piece states, among other things:

“The order focuses on information sharing requirements for DoD federal contractors or suppliers. However, non-DoD contractors will likely benefit from evaluating whether these changes will raise expectations for sharing cyber incident information with federal agencies. For example, businesses may benefit from tracking guidance and expectations regarding what information to share and when. Forthcoming guidance may help inform organizations contracting with civilian agencies with respect to how to manage information sharing, which can often be time-consuming while resources are stretched during the response to a cyber incident. Notably, while mentioning privacy considerations, the order clearly outlines expectations that increased sharing can occur while adhering to privacy laws, regulations and policies.”

EY put out a piece in May 2021 entitled “How to consider export control in your due diligence process”. The piece states, among other things:

“Together, due diligence and effective controls can protect your investment and provide dividends long after the purchase is concluded. A thorough understanding of the seller’s export control environment can reveal avenues for applying the necessary controls swiftly. Additionally, open communication among parties involved with the transaction provides an opportunity to discover leading practices in export compliance, increasing the efficiency of your export organization. Remembering to consider export control during M&A quite simply provides the peace of mind that a costly surprise is not just hiding around the corner.”

EY put out a piece in April 2021 entitled “Why COVID-19 made fraud and compliance a bigger issue”. The piece states, among other things:

“Another major source of risk is supply chain disruptions, which have led many organizations to begin new third-party relationships without typical due diligence. Just one-third of respondents to the EY 2020 Global Integrity Report said they were ‘very confident’ that their third parties demonstrate integrity in the work they do. Corruption and bribery stemming from external relationships increase the risks of litigation, regulatory fines and reputational damage. Unvetted vendors can also compromise supply chains and pose risks to customers. The European Anti-Fraud Office has identified hundreds of companies acting as intermediaries, or traders of counterfeit or substandard products linked to the pandemic.”

EY put out a piece in March 2021 entitled “How sports team acquisitions are flawed without integrity diligence”. The piece states, among other things:

“Some teams and clubs have international operations, such as those who scout, sign and develop players overseas. This heightens the risk that teams or their agents may have made improper payments to foreign government officials to influence decisions. Under a concept called successor liability, new owners may be legally responsible for pre-acquisition behavior under the United States Foreign Corrupt Practices Act.”

EY put out a piece in March 2021 entitled “M&A in Brazil: Pre- and post-transaction risks during a pandemic”. The piece states, among other things:

“Common due diligence procedures include understanding a company’s generation of positive cash flows, controversial tax positions that may lead to disputes with taxing authorities and ongoing legal proceedings. Investors may want to look for additional red flags. This can include focusing on the higher-risk areas of the business where bribes or kickbacks could be disguised as normal transactions. When considering a Brazilian target, it may be helpful to perform pre-acquisition background research on top management, major third-party vendors and partners.”

EY put out a piece in September 2020 entitled “If corruption never stops, how can public trust be gained?”. The piece states, among other things:

“The actions and words of management shape the company and direct the actions of its staff. Weak governance may allow situations where certain employees enjoy immunity from stringent policies that are normally enforced because they are high-performers in the business, well-connected or part of the senior management team. Organizations demonstrating a culture of integrity apply the same rules equally to all employees irrespective of their position or success, and this is known as organizational justice.”