For U.S. companies with manufacturing plants and offices in China, the risk of fraud, IP theft, and loss of customer data has increased significantly over the past four years.
During this time, East West Associates (EWA) has primarily focused on terminating corrupt General Managers, installing interim EWA executives, and recruiting qualified professionals for permanent leadership roles.
Most of the corrupt GMs uncovered at China facilities were engaged in serious misconduct—including embezzlement, setting up competing companies under their own names, and accepting fraudulent payments from suppliers and customers.
Key reasons for the rise in fraud cases include:
-Reduced oversight from U.S. or European corporate headquarters
-A weakened Chinese economy, in part due to tariffs, leading to lower demand for China-based production
-Escalating U.S.–China political tensions
Join us on June 5th for a webinar co-hosted by Grant Thornton and East West Associates.
Together, our firms will outline the best financial, accounting, and operational strategies to detect and combat fraud in China operations.
Grant Thornton will cover how to identify fraud and calculate its financial impact.
East West Associates will discuss how to remediate corruption through executive terminations, interim management, effective recruiting, and employee training.
