Financial fraud is an alarmingly common crime that can cost businesses millions. Unfortunately, fraud can be very challenging to prove. Many organizations find themselves at the losing end of fraudulent activity with very little recourse.

If your business has lost assets, discovered inaccurate bookkeeping or become entangled in illegal activity due to fraud, hiring a private investigator may be the right next step. With a private financial fraud investigator, you can learn more about the fraudulent activity, identify the fraudster and start rectifying the situation.

Common Types of Fraud

Criminals may take advantage of businesses in a diverse variety of transactions. These are a few examples of some of the most common cases:

  • A seller misrepresenting or completely inventing assets.
  • A team member paying bribes, kickbacks, payoffs or illegal political contributions using company funds.
  • A supplier or other outside stakeholder paying bribes or kickbacks to a member of your organization.
  • A team member making a fraudulent sale to a buyer.
  • A professional service provider or team member engaging in tax fraud.

These examples all directly involve your organization even if the criminal was an outside entity or someone acting alone. Unfortunately, even if you as the CEO or business owner had no involvement in the fraud, you may end up paying the bill or even facing a civil or criminal suit.

Financial Fraud Investigations

In many cases, you can mitigate the repercussions of fraud by showing proof of what happened. A private investigator can be very valuable in this process. Even if you are unable to seek recourse for the direct costs of the fraud, you can likely involve your organization becoming further embroiled in the problem.

The process of a fraud investigation is dependent on the circumstances. However, typically, it will involve an in-depth audit and accounting review to identify which assets were impacted and to what extent.

Additionally, the investigator may perform background checks on employees, vendors and buyers that may be involved in the situation. This can include credit history, personal history, court records and other relevant information to identify any red flags.

Using the above and other investigatory methods, the PI will gradually be able to build a clear understanding of what happened and who was involved. Typically, investigators remain wholly focused on the fraudulent transactions and whoever had direct involvement in them. However, in some cases, private investigators have discovered much more far-reaching problems than were known at the start of the process.

This information can enable you to protect your organization legally and financially. It can also help you to smooth over relationships with investors, vendors, customers and other stakeholders that may be involved in the situation. Furthermore, with the right investigator, this can all be accomplished with minimal impact on your operations.

Clarifying the Situation

In most cases, the investigator is brought in after the incident. He or she will you and your executive team to gather what you already know. You may already be fully aware of the fraud and simply need additional proof and clarity to help you take your next steps. In other cases, you may only know that something has happened. In these circumstances, the fraud investigator can help you fill in the missing details.

Making the right decisions about how to handle fraud is almost impossible without the full picture. Hiring a private investigator to look into the situation for you means that you can be confident that the problem will be uncovered promptly and with minimal disruptions. Let the experts handle the investigation while you continue to run the company.

Handling the Situation With Sensitivity

Beau Dietl & Associates will handle your investigation with the utmost care. We understand that these cases can be very sensitive, and that discretion is a top priority. To that end, we will build as much of our case as possible while keeping employees, especially those suspected of fraud, in the dark. Once we have clear, tangible evidence, we may interview employees as necessary.

This is part of the reason why hiring a private investigator can be so valuable. Your team may struggle to act as subtly as an experienced fraud investigator. Furthermore, PIs can piece together evidence to build a stronger case by leveraging our skills and insight built over years of investigations.

Preventative Services

Once the investigation is complete, you will likely want to take steps to prevent the same from happening in the future. Private investigators are also experienced anti-fraud consultants. With help from a PI, you can implement an anti-fraud program at your company.

This can include a thorough review of current policies and procedures. It may also include an evaluation of your digital and physical security to identify where current blind spots are. With state-of-the-art fraud prevention strategies, businesses around the globe are working to effectively detect and prevent such incidents. Take the first steps towards joining their ranks by hiring a financial fraud investigator.

Why Hire A Private Investigator When Dealing With Financial Fraud?
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Why Hire A Private Investigator When Dealing With Financial Fraud?
Nowadays fraud is a very common occurrence and one that affects many businesses year after year. A white-collar crime that costs businesses millions of dollars every year, fraud has become one of the most challenging issues to prove. For the business owner who finds themselves the victim of fraudulent activities including assets missing, inaccurate bookkeeping, illegal political contributions, and even evidence of bribes, hiring a private investigator may be just the perfect strategy and solution for you. A professional fraud investigation performed by a private investigator can greatly assist a company with a wide range of fraudulent transactions including: A sale of assets that was fictitious or misrepresented; Kickbacks, bribes, payoffs, or illegal political contributions made from within the company; Intentional misrepresentation of company assets, liabilities, income and other transactions; and Possible existence of tax fraud. THE FRAUD INVESTIGATION A private investigator is typically brought in to conduct a fraud investigation for the purpose of determining which assets may have been affected and how by way of an in depth audit and accounting review, as well as to establish the positive identity of employees who are behind the fraudulent activities against the organization or company. A private investigator can conduct background checks into the credit history, personal history, court records and other personal information of employees in their efforts to locate any potential red flags against employees such as the existence of a previous criminal record. Typically an investigator remains focused on those employees who had access to the financial transactions and assets affected by the fraud. More often than not a private investigator will be brought in to perform their investigation after the fraud has been committed against the company and has already been detected. At this time, the private investigator is hired by the business to conduct a thorough background search of all those employees who are suspected of being involved in the fraudulent activities, to confirm the identity of the employees and to provide a definitive analysis of the type of fraudulent activities that took place. The overall investigation conducted is remarkably delicate and sensitive in nature, but can readily produce tangible evidence needed to prove an employee's participation in a fraudulent activity. Private investigators are highly skilled and trained in not only the importance of confidentiality, but surely in their professional approach and procedures used in skillfully and tactfully conducting a private investigation of this type and producing positive results and identifications. Investigators rely heavily upon the "element of surprise." Without any preliminary warnings or awareness of the investigation the suspected employee will be typically caught off guard when confronted about the fraudulent behavior and will be unable to create diversions or camouflage the facts having had no knowledge of the private investigation. All company employees, including those suspected of the fraud, are kept in the dark about the investigation until such time that company executives and the private investigator meet with the employee and discuss the confirmed findings and the legal actions to be taken. Fraudulent activities within a company are detrimental to the financial status of a company and can present with substantial losses which is why most businesses choose to engage the services of private investigators sooner rather than later in the hopes of identifying the culprits and then realigning the company's financial presence with procedures and strategies that will get the company finances back on track. Post Fraud Investigation A private investigator can also work with company executives and leaders following the completion of the investigation to create and implement anti-fraud programs within the company to alleviate such fraudulent activities from recurring. A thorough review of current company policies and procedures will assist in putting an adequate program in place which many times would include the installation of surveillance cameras on the property as well as installing specialized tracking programs on all office computers. With a state of the art fraud prevention strategy such as this in place, companies across the globe know they are protected and professionally equipped for detection and prevention of future fraudulent activities and losses within the company.
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Private Investigator NYC - Beau Dietl & Associates
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