Forensic Services - An Overview

Forensic Services have a common place in this day and age. Different factors contribute to the development of companies. With more technology affecting the lives of people, there is an increased need for forensic consulting and forensic technology services. Increasing complexities make it difficult for companies to adapt as per the changing regulatory and technology landscapes.

In order to face the above challenges it is imminent for companies to have a seamless service related to forensic technology. Companies utilising such services would ensure to carry out operations in a smooth manner.

With the increase in technology, there has been a rapid increase in the amount of cyber crimes and internet scams. When it comes to Digital Lending in India, the Reserve Bank of India has provided several notifications related to the dangers utilising unauthorised digital lending applications. Prior to these notifications, there have been several cases of fraud and unreasonable interest rates charged to the borrower.

In order to avoid cyber related frauds, it is important to establish vigilance when it comes to the aspect of IT infrastructure in a company. Hence it would be crucial to streamline different forms of forensic services in an organisation to increase the amount of healthy optimisation.

Benefits of Utilising Cyber Forensic Services

The following are the benefits of utilising cyber forensic services:

• Mitigates Data Loss

  By having an effective system of cyber forensics, all the data stored in the cloud and physical form can be transferred to the server. Through this the company can save lot of cost.

• Increases the Amount of Data Protected

  There are different forms of data protection rules which have to be complied by the company. Forensic services would ensure that data is protected properly.

• Useful for Investigation

  Such services would be required during a formal process of investigation.

• Constant Updates from the Team

  By utilising an external forensic services provider, you would receive constant updates related to any form of processes.

What are the different types of Forensic Services?

The following are the types of forensic services which we provide:

• Cyber Related Forensics

  With the advent of technology, more amount of cybercrimes have emerged. Cybercrime attackers are constantly innovating the way in which frauds are carried out. Anything which is related to scamming the victim either knowingly or unknowingly would be known as a fraud. If such fraud occurs over a digital medium such as an email, then it would be known as a cybercrime. Cyber related forensic services would include all the procedures and methodologies which are adopted by an organisation to prevent any cyber related frauds. It would also include documenting any form of information which would come handy in identifying if there is some form of cyber security breach. Usually a company would have an in-house cyber forensics department to understand the requirements to mitigate any form of cyber security risks associated with the company. Cyber related forensics would also include some form of intellectual property theft which is carried out wilfully by a known party.

• E-Discovery or Electronic Discovery

  E-Discovery is an abbreviation used for electronic discovery. Such forms of discoveries is usually utilised in the process of litigation concerning civil matters of the parties. During the process of e-discovery, two or more parties are usually involved. This is the time where the court or a senior authority would be involved in the process of documenting such information. E-Discovery is usually utilised in the process of evidence and investigation to analyse documents. Such documents if important would be considered to be placed on hold for the process of investigation. Usually such processes would only be utilised in legal matters.

• Analysis during an Investigation

  Such analysis would include any forensic services which would be included in the process of investigation. Usually when an investigation is carried out all electronic information would be utilised as a form of evidence to counter any statements made by the parties. Investigation would be carried out by the company at the first level. However, if there are any forms of external parties, then other authorities would be formally involved in the process of investigation. All documents should be stored as per the instructions of the relevant authorities. Any information which is not stored as per the directions of the authority, then associated penalties would be levied. An investigation is not just restricted to forensic services. Investigation can be carried out for any form of data breach, intellectual property breach or cyber related threats.

• Cybercrime Investigation

  Such investigation would include the formal process where the crime has been committed in some digital form. Collection of important facts would be an important part of such process of investigation.

• All Time Monitoring

  All time monitoring would include the measures which are carried out in order to ensure that there are no issues in the company. This would include finding out if there are any form of issues related to IT infrastructure offered by the company. Tracking real-time monitoring and data over time, organizations can reveal and predict trends and performance. Forensic services such as the above would reduce specific amount of risk in an organisation.

Phases Related to Carrying Out Forensic Services for an Organisation

There are different forms off cyber forensic services which are offered by an organisation. However, when it comes to cyber related issues the following phases have to be carried out by an organisation:

• Secure all the devices

  All the devices which have been subjected to fraud have to be secured by the company. This would include all the computers, servers, mobiles and other form of electronic equipment which is used by the organisation. This is carried out in order to ensure that the data is kept safe in the organisation. By carrying out the above step more amount of data loss would not occur in the organisation. The security system has to be developed in such a way that unauthorised access to any of the devices is not allowed. If the devices are connected to any form of blue tooth or wireless servers, then the organisation has to disconnect all the information which allows access to such devices. Cyber related frauds can also occur through wireless servers.

• Review the Data and Files

  In the next step for carrying out forensic services related to cyber related threats, all the devices and systems must be checked in order to categorise the amount of data stolen. Even if the device is encrypted, then such devices must be accessed. After accessing the devices, all the files which are not affected must be copied and a back up of the same files must be carried out. Apart from this, the original systems and servers must be kept intact. This would be the next step during a cyber related breach in an organisation

• Find out Important Parts of the Program

  In the next step, the organisation would have to look into the important part of the programs and the content which is crucial.

• Access Files

  This step would comprise accessing the other files which are important to carrying out the work in an organisation. Such files must be decrypted in order to see if there are any forms of change. When such files are decrypted, then important information would be retrievable from the source.

• Identify Areas which can be utilised

  After decrypting the information relevant to files, all the areas would be identified in carrying out the work related to Forensic Services.

• Document

  It is important to ensure that all the work carried out and the procedures utilised should be effectively documented. Through this the organisation can make a testimony that information has been breached and they have been attacked. Such information must be documented in both hard copy as well as soft copy form. Apart from this, documented information should be properly preserved without being damaged. This would come handy during the investigation process related to cyber forensic services.

• Provide Evidence and Testify

  In the next step all the protocols related to investigation has to be formally presented to court. All information provided would help the organisation testify properly.

Challenges related to Implementing Forensic Services

In developing countries, there are various challenges which would be a hindrance in effective implementation. However, such challenges are also faced by developed countries. The following are the challenges faced in implementing forensic technology services:

• There is confusion related to data. This would be the segregation of data into structured data as well as unstructured data.
• Another problem faced is the culture imposed in the organisation. Some organisations are comfortable with the traditional ways of carrying out work. They are not ready to take any chances in implementing such forensic services to their IT Infrastructure.
• There is vast amount of digital data which is present. Such data would be difficult to document in the form of electronic data.
• Innovation in Artificial Intelligence, Machine Learning and Internet of things would be a challenge to the development of forensic services provided by an organisation. With more amount of technology, more frauds would tend to occur.
• Increasing amount of regulation in the areas of Financial Technology, Data Protection and Information Technology.  With more amount of regulation, implementing effective systems related to forensic services would be challenging.
• Cost of compliance related to the above services would also be another challenge related to implementing forensic services.

Tap Global Advantage- Forensic Services

• At Tap Global, we have a team of multi-disciplinary professionals such as accountants, lawyers, chartered accountants, company secretaries, data professionals, fraud examiners with updated knowledge in core areas related to forensic consulting services.
• We offer different capabilities ranging from carrying out accounting services, NBFC services, auditing , forensic science, due diligence services and financial reporting. Our professionals not only deal with legal and commercial matters, but have insights into current trends and regulatory matters which affect your company.
• We have technology such as artificial intelligence, NBFC software, data driven software’s to optimise the work carried out by the organisation.
• We follow a focussed method related to implementation of forensic services across your organisation.  We also have data driven software’s to assist in implementation

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