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MNP Survey Reveals Critical Gaps in Fraud Awareness Among Quebec Businesses

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New Findings Highlight Alarming Disconnect Between Perceived and Actual Fraud Risks, Underscoring the Need for Proactive Measures Among Quebec Businesses and a new mindset on the eve of a potential tariff conflict with the United States

MONTRÉAL, Feb. 17, 2025 /CNW/ – The latest survey by MNP’s Forensics, Investigations and Litigation Support Services highlights troubling trends in fraud awareness and prevention among Quebec businesses. The findings underscore a concerning disconnect between perceived and actual fraud risks, emphasizing the need for more robust measures to combat financial fraud .

The survey, conducted on behalf of national professional services firm MNP, was done by Callosum among 256 business owners or senior executives of businesses in Quebec, representing all types of industries across the province.

Survey results show that while one in three (1 in 3) businesses will experience fraud during their lifetime − three times on average for impacted businesses − 78% of businesses still perceive financial fraud risks as low to moderate. Even if more than 40% of respondents acknowledge heightened fraud risks due to economic pressures like inflation and rising interest rates, fraud remains among the least important concerns for Quebec executives, managers and owners and many still lack adequate prevention strategies.

“It’s concerning to see how fraud risk perception has remained almost unchanged since 2021, despite economic disruption and certain high-profile fraud cases,” says Corey Anne Bloom, Partner and Eastern Canada Leader of Forensics, Investigations, and Litigation Support at MNP. “Fraudsters are particularly active in times of upheaval, such as the present. The changes we are currently experiencing, such as economic changes, work structure changes, complexity and rapid technological advancements, heighten fraudster activity, leaving companies more vulnerable and at risk of not properly responding to financial threats. The rise is alarming: 33% of businesses reported fraud incidents or believe they have been victims. Beyond financial losses, fraud erodes staff morale, compounding challenges for already struggling organizations.”

Businesses admit they are not well prepared to deal with financial fraud. Responses indicate that businesses currently have fewer fraud detection measures and techniques in place than before and the survey suggests they may be deprioritizing fraud prevention, potentially due to economic pressures like inflation and rising costs. Despite tips being the most effective method for detecting fraud, fraud detection measures, such as tip lines and frequent anti-fraud training, are underutilized, with only 16% of businesses implementing whistleblower systems. Moreover, 25% of businesses never provide anti-fraud training to employees, and training efforts often exclude non-management staff.

“Unfortunately, increasing financial pressures are creating a dangerous incentive for fraud. With the potential of U.S. tariffs imposed on Canadian imports by the Trump administration, many Quebec companies could see their profitability affected, increasing the pressure on their financial operations. Quebec households won’t be spared either, suffering repercussions if Canadian tariffs are imposed in response, but also through inflation and rising interest rates, adding further incentives to fraud,” adds Simon Gaudreau, Senior Manager of Forensics, Investigations, and Litigation Support at MNP in Montréal. “While executives focus on high-profile risks like cybersecurity or theft of confidential information, this often creates blind spots for more specific threats such as payroll fraud, fraud in financial statements or less-publicized fraud schemes. Businesses must act now to address these neglected risks and close the gaps in their fraud defences to protect themselves effectively.”

Other major highlights from the MNP survey:

Staff recruitment and labour shortages (30%) are the top concerns for businesses, with two out of three respondents ranking it among their top three priorities. Financial or workplace fraud (4%), on the other hand, ranks second to last.Business owners were more likely to perceive fraud as a high risk but concerns about fraud risk drop when speaking to non-owner executives. Younger respondents also view financial fraud as a higher risk compared to older individuals.Theft of confidential information and intellectual property was again considered to be the highest perceived fraud risk, yet this type of fraud was cited as the fifth most prevalent type of fraud really impacting Quebec businesses. “Embezzlement,” meanwhile, had one of the lowest perceived risks despite being the second prevalent fraud scheme impacting Quebec businesses.Most respondents believe their risk of fraud is equal to competitors, but three times as many think they are at lower risk (5%) rather than higher risk (16%). Similarly, most respondents believe that other lines of business face a comparable or higher risk of financial fraud as their own.Financial need (68%) seems to be the most common perceived motivation for committing financial fraud, followed by a lack of loyalty to the business (46%). Interestingly, owners are less likely than others within businesses to think financial need is the main motivation of employees committing fraud.The average number of financial frauds targeting victimized businesses increased from two (2) occurrences in 2021 to an average of three (3) occurrences in 2024.Billing (31%) and payroll (25%) fraud have become some of the most prevalent forms of financial fraud. Embezzlement (30%) also remains a major concern, continuing to impact a substantial number of businesses.Basic anti-fraud controls usage, such as segregation of duties and pre-employment checks, have declined, increasing the risk of fraud.Solution Ideas: MNP recommends proactive measures, including regular fraud risk assessments, whistleblower hotlines or reporting mechanisms, ongoing employee training and collaboration with external anti-fraud specialists to mitigate vulnerabilities and improve resilience.

The complete results of this survey can be found here: https://www.mnp.ca/en/-/media/files/mnp/pdf/service/forensics/perceptions-of-owners-and-senior-executives-of-quebec-businesses-regarding-the-risk-of-fraud.pdf 

To share this news on social media, please use: @MNPquebec (LinkedIn), @MNPquebec (Facebook) and @MNPquebec (Instagram).

About MNP

National in scope and local in focus, MNP is one of Canada’s leading professional services firms — proudly serving individuals, businesses, and organizations since 1958. Through the development of strong relationships, we provide client-focused accounting, consulting, tax, and digital services. Our clients benefit from personalized strategies with a local perspective to fuel success wherever business takes them. For more information, visit www.mnp.ca 

SOURCE MNP

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Viettel Group and Vietnam’s Government Cipher Committee Unveil Security Chip Embedding Vietnamese Cryptography in Silicon

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November 4, 2026

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HANOI, Vietnam, Nov. 3, 2026 /PRNewswire/ — Vietnam’s Government Cipher Committee and Viettel Group have unveiled VGC v1.0, a security chip integrating a domestically developed cryptographic algorithm directly into silicon, alongside the country’s first domestically designed secure semiconductor platform.

The project addresses concerns over potential data exposure associated with reliance on imported chips. By embedding cryptographic functions directly into hardware, Vietnam’s Government Cipher Committee and Viettel Group aim to strengthen Vietnam’s control over the design and verification of technologies used to protect sensitive information.

VGC v1.0 contains 300 million transistors in a 10 × 10 mm package and is fabricated using a 28-nanometre CMOS process. In performance tests, it performed encryption and decryption approximately 15 times faster than a software-only solution carrying out the same tasks. The first batch passed technical tests and received certification for socio-economic applications in the first quarter of 2026. Technical safeguards were also applied to protect the design before fabrication, reducing risks of information leakage and reverse engineering.

The Government Cipher Committee’s M2 unit established security requirements, developed the cryptographic algorithm and defined evaluation criteria, while Viettel Semiconductor Center designed and implemented the chip. Based on the open RISC-V instruction set architecture, the underlying platform enables Vietnamese engineers to modify processor designs and reuse established verification processes for future chip generations.

VGC v1.0 has already seen initial deployment in secure USB storage devices for Party, government and defence agencies. Planned applications include supporting Vietnam’s national digital signature certification system, which has more than two million digital certificates in circulation. Other potential uses span financial data protection, connected cameras and sensors, and critical infrastructure systems in electricity, water, oil and gas, and telecommunications. Products intended to protect state secrets would require further testing and certification under applicable standards.

“Researching, designing and developing secure semiconductor chips is a formidable challenge, requiring years of accumulated expertise, technological capabilities and highly skilled talent. Yet we believe that starting later does not mean accepting dependence on others. With the right strategy, focused resources and sustained commitment, we can steadily close the gap and move towards mastering technologies of strategic importance to our country,” said Lieutenant General Tao Duc Thang, Chairman and CEO of Viettel Group.

At the launch, the Vietnam’s Government Cipher Committee and Viettel Group signed an agreement covering plans for volume production, multicore security chips, specialist workforce development and testing on real devices. Viettel is also building a semiconductor fabrication plant in Hoa Lac as part of broader efforts to develop domestic capabilities across chip design, manufacturing and packaging.

Beyond the initial chip, the initiative establishes a foundation for future generations of security hardware, supporting Vietnam’s long-term efforts to reduce technological dependence and strengthen control over critical digital technologies.

View original content to download multimedia:https://www.prnewswire.com/news-releases/viettel-group-and-vietnams-government-cipher-committee-unveil-security-chip-embedding-vietnamese-cryptography-in-silicon-302928624.html

SOURCE Viettel Group

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USDGO Plus SP Among First Products on OSL’s Instant Redemption

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4 minutes ago

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November 4, 2026

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Eligible professional investors redeeming units of USDGO Plus SP through OSL may receive redemption proceeds on the same day, subject to OSL’s eligibility criteria and applicable terms and conditions

HONG KONG, Nov. 3, 2026 /PRNewswire/ — Units of PrimePlus SPC – USDGO Plus SP held via OSL are included in the initial batch of products covered by Instant Redemption, a feature OSL Group announced on 2 November 2026 for tokenised real-world asset (RWA) products on its licensed platform.

Eligible professional investors redeeming designated products through OSL may receive their redemption proceeds on the same day, subject to OSL’s eligibility criteria, product coverage and applicable terms and conditions. Designated products may also be subscribed for and redeemed in USDGO.

USDGO Plus SP is a segregated portfolio of PrimePlus SPC, a Cayman Islands segregated portfolio company registered with CIMA as a mutual fund. Under the co-operation framework of 2WA and OSL, fund units stay in custody via OSL, 2WA does not custody client fund units, and Instant Redemption is an OSL platform feature*.

OSL continues to provide custody and distribution for USDGO Plus SP. Instant Redemption does not change the fund’s redemption terms, registration status, offering documents, risk disclosures or investor eligibility requirements.

*Instant Redemption is only available to investors on the OSL platform who qualify as professional investors.

About 2WA

2WA is a real-world asset (RWA) and digital asset technology development company focused on expanding the utility of regulated assets. 2WA applies blockchain technology, including tokenization, to broaden how regulated assets such as fund units and listed equities are held, used and mobilized. Throughout, the underlying assets remain with licensed custodians. 2WA’s objective is to create new use cases for these assets and, in doing so, enhance their overall value for investors and institutions.

USDGO sits at the core of 2WA’s business. As an active contributor to the USDGO ecosystem, 2WA uses USDGO as the primary settlement and liquidity asset across its RWA products, and works alongside partners to broaden its adoption, deepen its liquidity and support the long-term growth of its ecosystem. For more information, visit https://2wa.io

About OSL

OSL Group (HKEX: 863) is a global stablecoin infrastructure company that strives to provide compliant and efficient digital financial infrastructure services globally, empowering enterprises, financial institutions and individuals to seamlessly exchange, pay, trade, and settle between fiat and digital currencies. Grounded in the core values of Open, Secure, and Liquid, it is committed to building a more efficient ecosystem that connects global markets and enables instant, seamless and compliant value movement worldwide. For media inquiries, please contact: media@osl.com

Media contacts

2WA: media@2wa.io
OSL: media@osl.com

Disclaimer

This press release is for information purposes only. It does not constitute an offer, solicitation, recommendation or inducement to buy, sell or otherwise deal in any digital asset, security or other financial product, and it is not financial, investment, legal, tax, accounting or other professional advice and should not be relied on as such. Views expressed do not necessarily reflect the official positions of OSL Group or its affiliates. Descriptions of products and services are for general reference only, and participation is subject to applicable terms, conditions and regulatory requirements. This press release may contain forward-looking or indicative information; actual outcomes may differ materially, and none of OSL Group, 2WA, PrimePlus SPC or their respective affiliates undertakes any obligation to update it.

USDGO Plus SP has not been authorised by the Securities and Futures Commission under section 104 of the Securities and Futures Ordinance (Cap. 571) (SFO), and its offering documents have not been reviewed by any regulatory authority in Hong Kong. Interests in USDGO Plus SP may be offered in Hong Kong only to professional investors, and only on the basis of the fund’s offering documents. Investing in digital asset funds involves significant risks, including the possible loss of the entire amount invested. Market-neutral strategies do not eliminate risk, and funding rates may turn negative. Past performance is not indicative of future results.

Instant Redemption is a feature of OSL’s platform. Its availability is subject to OSL’s eligibility criteria, limits and platform terms, and may be changed, suspended or withdrawn at any time. It does not amend the redemption terms of USDGO Plus SP and is not a guarantee of liquidity or of the return of any amount invested.

This press release is intended only for “professional investors” as defined in the SFO and its subsidiary legislation, must not be distributed or used in any jurisdiction where doing so would breach applicable laws, and does not constitute active marketing to the public in Hong Kong. Readers are responsible for complying with the laws of their own jurisdiction. The stablecoins referred to in this press release may be “specified stablecoins” under the Stablecoin Ordinance (Cap. 656); their issuers and OSL Digital Securities Limited (OSLDS) are not licensed under that Ordinance to conduct regulated stablecoin activities in Hong Kong. OSLDS is a permitted offeror under that Ordinance and offers such products in Hong Kong only to clients it has verified and accepted as professional investors.

View original content to download multimedia:https://www.prnewswire.com/news-releases/usdgo-plus-sp-among-first-products-on-osls-instant-redemption-302928630.html

SOURCE 2WA

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THE KOREA INDUSTRY DAILY: ROBOTWORLD 2026 to Spotlight Physical AI and AI-Driven Manufacturing With 402 Exhibitors From 17 Countries

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November 4, 2026

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Rainbow Robotics, Neuromeka and Samhyun to exhibit Nov. 4–7 near Seoul; NVIDIA and Qualcomm to participate in conference

GOYANG, South Korea, Nov. 3, 2026 /PRNewswire/ — ROBOTWORLD 2026 will bring together 402 companies from 17 countries at the Korea International Exhibition Center (KINTEX) Nov. 4–7. The 1,198-booth exhibition will explore how Physical AI and AI-driven manufacturing systems are being developed for industrial applications.

International exhibitors will include Taiwan’s Advantech, Japan’s FANUC and China’s Booster Robotics, PAXINI and Unitree. A Canadian delegation of 10 technology companies will participate in the exhibition and conference, while companies from India and Bangladesh will exhibit at ROBOTWORLD for the first time.

The International Robot Business Conference 2026 will extend the discussion of industrial applications through 36 sessions on Nov. 4–5. Its three tracks — Manufacturing AX (AI transformation), Humanoid with Physical AI and Mobility — will address AI adoption in production, robot intelligence and mobility across industrial and service environments. The Manufacturing AX track will feature presentations by representatives from Qualcomm and Advantech, while a speaker from NVIDIA will present in the Humanoid with Physical AI track. Qualcomm will also sponsor the exhibition.

According to the International Federation of Robotics’ World Robotics 2026 report, global industrial robot installations reached a record 603,307 units in 2025, marking an 11% increase from the previous year and surpassing 600,000 units for the first time. Asia accounted for 76% of all newly installed industrial robots, with 457,315 units installed, up 14% year-on-year. Global installations are forecast to reach 655,000 units in 2026, reflecting the continued expansion of industrial automation.

Against this industrial backdrop, the exhibition will explore Physical AI technologies that enable robots to perceive their surroundings, assess conditions and perform physical tasks. Korean exhibitors will address both task intelligence and the platforms and components that enable movement and manipulation.

Rainbow Robotics will exhibit its RBY mobile humanoid and RBQ quadruped series, while Neuromeka will present its Physical Skill Foundation (PSF) technology alongside the EIR humanoid and NAMI mobile humanoid platforms. Neuromeka describes PSF as supporting task execution involving unfamiliar objects and changing work environments. Samhyun will showcase its AXLON actuator series for robot joint actuation, torque control and linear motion, together with the BOLDUM autonomous transport robot for industrial material handling with payloads of up to 3 metric tons.

Beyond individual robots, the exhibition will examine AI-driven manufacturing through systems that combine collaborative robots, autonomous mobile robots (AMRs), machine vision and manufacturing software. Exhibitors will demonstrate how process data and material flows can inform robot and equipment operations across production processes.

Humanoid, food-tech and healthcare pavilions will provide focused views of these technologies and their applications. The newly established humanoid pavilion will cover complete robots, actuators, reducers, sensors, controllers and AI software. The food-tech pavilion will feature cooking, serving and kitchen automation. The returning healthcare pavilion will cover surgical, rehabilitation, wearable and care robots, as well as hospital logistics.

Business programs will connect the technology presentations with opportunities for procurement, exports and investment. Export and procurement matchmaking sessions will run Nov. 4–6, with suppliers and prospective buyers matched in advance for one-to-one meetings. A seminar on entering international markets will be held on Nov.5 providing practical information on certification requirements in different countries.

Global Scale-up Day on Nov. 6 will be open to small and medium-sized enterprises as well as startups in AI and robotics seeking investment and growth capital. Conducted entirely in English, the program will bring together venture capital firms, accelerators, strategic investors and M&A specialists.

“With increased participation by global companies and the addition of national and special pavilions, we hope this year’s exhibition will showcase the capabilities of Korean robotics companies and expand opportunities for practical cooperation between Korean and international businesses,” a ROBOTWORLD representative said.

ROBOTWORLD 2026 will take place at KINTEX Exhibition Center 1, Halls 3–5, in Goyang. Information on exhibitors, conference sessions and business programs are available at https://eng.robotworld.or.kr/.

About ROBOTWORLD

ROBOTWORLD is an international robotics exhibition covering industrial and service robots, core components, AI software and manufacturing automation solutions, alongside a conference and business programs. ROBOTWORLD 2026 is hosted by South Korea’s Ministry of Trade, Industry and Resources (MOTIR) and jointly organized by the Korea Association of AI Robot Industry (KAR), the Korea Institute for Robot Industry Advancement (KIRIA) and the Institute of Control, Robotics and Systems (ICROS).

View original content to download multimedia:https://www.prnewswire.com/news-releases/the-korea-industry-daily-robotworld-2026-to-spotlight-physical-ai-and-ai-driven-manufacturing-with-402-exhibitors-from-17-countries-302928643.html

SOURCE THE KOREA INDUSTRY DAILY

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