Fraud / Embezzlement Investigations

Fraud / Embezzlement Investigations

fraud and embezzlement investigationAn estimated $600 billion in company or $4,500 per employee revenues were lost in 2002 due to fraud, making fraud and embezzlement workplace investigations critically important. Using pioneered methods, our experienced fraud investigators will provide you with solutions to this complex problem. Our efforts include the investigation of occupational fraud and various forms of white-collar crime.

For example, over 80% of occupational fraud involves asset misappropriations. Cash is the targeted asset 90% of the time. In order to protect you, we implement our knowledge of business accounting, banking standards and auditing methods into our workplace investigations. Coupled with our interviewing skills, we can evaluate complex financial transactions and investigate questionable business activities.

Today, our occupational fraud and embezzlement investigation services focus on three specialized areas that affect most businesses.

Fraud & Embezzlement Investigation Services

  • Asset Misappropriations
  • Corruption
  • Fraudulent Statements

Our experienced financial investigators perform specialized analysis and review of the results of the investigation. Our investigators conduct administrative and investigatory type interviews with employees and non-employees to resolve any discrepancies or to verify given references. If the situation requires, we’ll locate and confirm independent sources of information to reach the clients objectives and determine the extent of the problem should one be discovered. We can also implement an undercover workplace investigation if necessary.

Often we liaise with local authorities to provide necessary evidence to seek a conviction and appropriately punish the guilty, while protecting the rights of the victims and securing restitution for your losses and the costs of using outside professional services.

Fraud Related Statistics

The following statistics and those above are from the 2012 Report to the Nation. This report, conducted by the Association of Certified Fraud Examiners, provides the most detailed view yet of how occupational fraud affects organizations in the U.S.

  • Organizations with fraud hotlines cut their fraud losses by approximately 50% per scheme. Internal audits, external audits, and employment background checks.
  • Small businesses are the most vulnerable to occupational fraud and abuse. The average scheme in a small business causes $127,500 in losses. The average scheme in the largest companies costs $97,000.
  • Corruption schemes account for 13% of all occupational frauds and they cause over $500,000 in losses, on average.
  • At least 30% of business losses are the result of dishonest acts by employees.
  • Frauds committed by employees cause median losses of $60,000, while frauds committed by managers or executives cause median losses of $250,000. When managers and employees conspire in a fraud scheme, the median loss rises to $500,000.
  • Losses caused by perpetrators older than 60 are 27 times higher than losses caused by employees 25 and younger.
  • The average fraud scheme lasted 18 months before it was detected.

Its important to ensure that all pertinent details related to any fraud or embezzlement investigation are carefully managed by trained professionals.  If you have specific questions related to white collar crime related workplace investigations please contact us.

Visit our fraud resources section for additional information and links to appropriate government bodies.