back to listings SME Profile: Haymarket Risk Management Ltd
Haymarket Risk Management Ltd
6-7 Queen Street, London, EC4N 1SP
Welcome to Haymarket Risk Management Ltd - Setting the standards in Security, Risk Management and Corporate Fraud Investigation
Incorporated in 1998 and based in the City of London, Haymarket Risk Management is a specialist consultancy, which provides global services in fraud prevention, detection and investigation, risk mitigation and investigative due diligence.
Haymarket has a loyal client base including Fortune 500 and FTSE 100 companies, global corporations, law firms, banking and financial institutions, insurance groups, retail chains, public sector organisations, government departments and high net worth individuals which have been fostered by Haymarket’s experience, professionalism, integrity and constant attention to detail.
Haymarket’s consulting team comprises former HM Customs, Revenue and Police investigators, corporate fraud and computer crime specialists, forensic accountants and IT Security practitioners. Additional support is provided by research analysts, linguists, forensic examiners and other specialists. An international network of trusted associates and contacts facilitates and expedites global enquiries.
Haymarket keeps abreast of relevant changes in the law, monitors fraud trends, assesses legal remedies and evaluates new equipment, software tools and techniques as they become available to support its intelligence and investigation work. All of the investigative methods and techniques deployed by Haymarket and described in this website are applied in strict conformity with the laws of the jurisdictions in which it operates.
- Advanced Investigative Data Analytics
- Asset Tracing
- Computer Forensics
- Cyber Security
- Document Forensics
- Employment Screening
- Investigative Due Diligence
- Litigation Support
- Risk Mitigation
- Technical Support Services
- Training, Seminars and Workshops
All frauds leave a pattern or footprint. Computer Forensics will uncover smoking gun evidence such as deleted emails, pictures, calendar entries of meetings or inappropriate text messages etc. when a perpetrator is known. But what if, in the initial instance, there is no clear suspect to target and there are no digital devices to target? In such instances a broader approach is required. This can involve using advanced data analytics to harvest data from within and without the organisation.
Haymarket has for over twenty years been at the forefront of defining and successfully utilising the data universe. Advanced Investigative Data Analytics can effectively be used, where there are no visible symptoms of fraud or a clearly identified suspect, to pro-actively shine a laser beam into the darkest reaches of an organisation.
Using its specialist software, Haymarket can instantaneously sift and compare millions of items from internal and external data sources, to quickly identify clues to fraudulent activity, thus turning raw data into actionable intelligence.
Such techniques can also be used to actively support and complement ongoing fraud investigations.
Haymarket has amassed considerable expertise in tracing assets both in the UK and overseas, developed over many years of conducting such investigations in both public and private service. In particular, Haymarket’s consultants have established an extensive network of associates and contacts in the many secretive offshore jurisdictions where assets and funds are traditionally registered and concealed.
Haymarket’s asset tracing skills, combined with in-depth knowledge of the various disclosure and enforcement orders that are available in diverse jurisdictions, are the first choice for several major law firms faced with the challenge of identifying and freezing hidden assets.
On occasions, quite simple techniques have yielded remarkable results.
The majority of frauds are committed or abetted through the use of computer technology. The corollary of this is that computers record and retain vital evidence of these crimes. Where fraud is suspected, it is imperative that all potentially relevant data is secured at the earliest opportunity and examined for evidence in a logical, systematic and efficient way.
Haymarket deploys the latest computer forensics tools and techniques to support its investigations, with all digital evidence accrued being legally admissible in both civil and criminal proceedings. Cases have included the recovery of data from formatted disks, restoration of deleted files, e-mails and encrypted documents, the detection of computer assisted forgery, data theft, back-dating and fraudulent amendment. Haymarket is regularly retained by law firms to obtain forensic images from computer networks and servers during the execution of Search and Seizure Orders and has the capability to index, sort and analyse vast quantities of data in a range of formats to support electronic disclosure.
Businesses accumulate a mass of confidential and sensitive information which is potentially of immense value or interest to commercial competitors, information brokers, journalists, computer hackers, rogue employees and others with criminal or nefarious intent.
As many businesses have found to their cost, the need to protect confidential information from disclosure or misappropriation cannot be overstated.
Haymarket has successfully investigated numerous data thefts, information leaks and Intellectual Property infringements. The knowledge gained through these cases is used to continually improve techniques to identify latent control weaknesses and deficiencies in client systems and processes.
To further assist its clients, Haymarket has prepared a concise, user-friendly Information Security Awareness Guide for internal distribution. This guide sets out the fundamental rules, which help employees prevent the unauthorised loss or disclosure of confidential information.
Haymarket consultant Ed Wilding’s book ‘Information Risk and Security’ Information Risk and Security: Preventing and Investigating Workplace Computer Crime (published by Gower).
Whilst electronic documents and e-mails have proliferated in the modern office, physical documents, printouts and hard copies should never be overlooked when seeking evidence of wrongdoing. In cases of identity theft, forgery, counterfeiting and fraud, the forensic investigation of documents, inks, paper and handwriting has often been pivotal.
Haymarket is regularly retained to identify alterations, to determine forgery and to establish the true authorship of a document. There are several sophisticated tests which can also be applied to show links between documents such as common authorship or provenance, and even the sequence in which they were prepared.
Surveys suggest that up to a third of people falsify details on their CVs. While this is mostly done to inflate qualifications or otherwise to exaggerate, it may occur with more sinister intent – to conceal past criminality or gross misconduct in previous posts. Whatever the motivation, such falsification reveals a worrisome propensity to lie. It is perplexing, therefore, that pre-employment screening is neglected by many organisations, despite the fact that effective screening represents a small fraction of a typical recruitment cost, and can pre-empt very serious problems from arising at a later stage.
Haymarket’s employment screening division undertakes comprehensive background checking of applicants to identify falsified and meaningless qualifications, grade inflation, bogus references, disciplinary issues, pending litigation, serious indebtedness and undisclosed criminal convictions. Far surpassing the checks traditionally carried out by time-pressured HR departments or bonus-driven recruitment firms, Haymarket’s professional objectivity and thoroughness provide reassurance when it comes to new appointments.
Haymarket is expert at handling corporate fraud investigations with a methodology which optimises the opportunities to assimilate evidence, take appropriate remedial action and facilitate financial recovery. The key steps are:
- Covert investigation with suspects still in place and unaware they are under suspicion. This phase typically includes, inter alia, research, analysis, computer forensics and lifestyle checks;
- Investigative interviews, which are simultaneous and unannounced, with suspects and witnesses;
- Submission of report and evidence bundle for review by the client and their lawyers.
This is a proven methodology via which the full extent of any fraud (usually far greater than initially suspected and often involving parties who were previously unsuspected) can be identified. It avoids the costly mistake of confronting a complicit suspect prematurely, without first securing evidence, which invariably results in incriminating material being concealed or destroyed.
In certain cases there is a necessity to apply to the Courts for injunctions to search and seize further evidence and/or freeze assets. Haymarket has extensive experience in the execution of the various Civil Orders that are available in the UK and other jurisdictions, and liaising with appointed lawyers to ensure the optimal use of these powers.
Strategic business decisions should only be taken when all the available facts are known and any potential risks have been both identified and quantified.
Entering into financial investments, mergers or acquisitions without carrying out in-depth due diligence has proven disastrous for many organisations. Yet the cost of conducting checks, which identify undisclosed issues prior to completion, is inconsequential compared to the substantial costs incurred when major investments or ventures fail.
Haymarket’s Investigative Due Diligence (“IDD”) goes much deeper than routine due diligence. Using a variety of investigative methods, both overt and covert, Haymarket’s IDD service has uncovered and forewarned its clients of various issues including fraud, financial irregularity, conflicts of interest, hidden agendas, pending litigation, impending defections and staff despondency.
Haymarket’s IDD is a much valued resource, providing clients with the vital intelligence necessary to determine whether to proceed, completely withdraw or renegotiate based on any adverse findings.
Haymarket is regularly instructed by law-firms acting for their clients to provide support in dispute resolution, litigation and the investigation of fraud or other suspected wrongdoing. Typically, the support provided includes:
- Investigative Research;
- Intelligence gathering through covert investigation;
- Computer forensics, often during execution of Search and Seizure Orders;
- Interviewing and taking statements from suspects;
- Questioned Document analysis;
- Asset Tracing.
Each of the above services can be integral to an investigation or provided as a standalone service.
There are risks in just about every area of business. There are three options:
- Ignore risk (not really a viable option);
- Transfer the risk (i.e. insure against it but this can be very costly if steps are not taken to reduce it);
- Manage the risk (i.e. take steps to minimise it).
Haymarket has dedicated experts in managing and mitigating risk in all areas of business including procurement, disposals, contract award, recruitment, physical security, I.T. security and so on.
Technology deployed by criminal elements plays an increasing role in breaching security and committing fraud. Equally, professionally deployed technology plays a major role in maintaining security, detecting fraud and supporting investigations. Examples of Haymarket’s technical resources include state of the art:
- Computer forensics software (recovery of evidence from desktops, laptops, tablets and mobile phones);
- Data mining software (for proactive detection of fraud in company accounts);
- Surveillance tracking equipment;
- Electronic counter surveillance resources (detection of bugs);
- Facilities to support undercover work;
No two investigations are the same and the equipment required will often vary but Haymarket will always ensure it has the technical and technological equipment necessary to support its work.
Haymarket provides training on a variety of fraud and corporate security related issues:
- Fraud Awareness – to ensure staff are aware of the potential risks to their organisation from rogue employees, third parties and organised crime syndicates;
- Proactive Fraud Detection – to train Internal Audit staff how best to detect, and respond to, fraud;
- Compliance – meeting the requirements of relevant legislation. The courses, which are flexible and can be tailored to suit individual client needs, can be presented in-house or at designated locations.
Haymarket regularly presents fraud detection and investigation training seminars to business audiences. These seminars regularly receive top ratings from audiences, which typically include CEOs, Finance Directors, Heads of Internal Audit and those charged with Compliance and Security.