Carmen Liu


  • Asia Pacific
  • Investigation Services
  • Litigation and Dispute Support
  • Investor Services

Carmen Liu is a Principal in Control Risks' Compliance, Forensics and Intelligence practice. She is based in Shanghai and leads the China business intelligence team. Carmen specialises in strategic intelligence, commercial and reputational due diligence, dispute support, fraud and market misbehaviour investigations. Her project experience includes the real estate, healthcare and pharmaceutical, finance and banking, automotive, retail, aviation and shipping sectors.

Recent tasks that Carmen has worked on include:

  • Leading a brand protection exercise for a global pharmaceutical company, involving business intelligence, data analytics and compliance reviews.

  • Managing a multi-jurisdictional asset trace for a Singapore-based client to pursue debts owed by a business partner in the real estate sector.

  • Leading an advisory project for a US-listed oil and gas company to support its business restructuring strategy in mainland China.

  • Investigation of alleged conflicts of interest involving a senior manager of a European automotive manufacturer's subsidiary in mainland China.

  • Comprehensive pre-investment due diligence for a client in the financial sector on a Hong Kong-based technology company and eight of its principals across multiple jurisdictions, including mainland China, Hong Kong, the UK and the Netherlands.

  • Investigating allegations of counterfeit goods being sold by a well-known mainland China-based online store.

  • Managed and implemented a major US-based client's franchisee screening programme in Greater China.

  • Before joining Control Risks in 2012, Carmen worked as an auditor for KPMG in Shanghai. Her primary responsibilities included conducting substantive audit procedures and US Sarbanes-Oxley Act (SOX) control tests. Significant projects included an audit for a Hong Kong pre-IPO project.

    Carmen holds a bachelor's degree in biological sciences from Fudan University. She is a native Mandarin speaker and is fluent in English.


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