Corporate Fraud Investigation

Corporate Fraud Investigation Can Save Millions

Every year, corporations lose billions of dollars to embezzlement and fraud, with most of it going undetected until it accrues a significant amount of damage to a corporation’s reputation and bottom line. During the past several years, greed and scandal has quickly risen within the corporate world.

According to 2012 Employee Theft Statistics from the Association of Certified Fraud Examiners:

  • $50,000,000,000 stolen each year from U.S. businesses by employees.
  • 75% of employees have stolen from their employer at least once.

Workplace crime runs rampant throughout organizations, from non-management laborers to the CEO. Most employees are honest, hardworking people, but the unfortunate truth is that within any corporation exists the potential for dishonest employees. This problem is compounded by inadequate or non-existent corporate fraud investigation.

Other industry estimates imply that corporate fraud totals upwards of a trillion dollars annually. A confidential survey on corporation fraud performed by a top accounting firm showed that 81 percent of corporations reported fraud that accumulated to more than $25,000 and approximately 25 percent of those respondents claimed a loss that exceeded $1 million.

Corporate Fraud Investigation Can Stop Ongoing Fraud and Prevent Future Incidents

In order to properly protect corporations from extraordinary losses, corporate fraud investigation services provide the necessary expertise and resources to uncover corporate fraud, intellectual property theft, financial irregularities, kickbacks, embezzlement, and other fraudulent crimes.

As an outside entity, corporate fraud investigation services incorporate discreet legal investigation methods and provide services that are objective and unbiased. Businesses who suspect corporate fraud should review the following possible warning signs:

  • Unexplained profit decline or expense increase; particularly in one area of department
  • Missing documents or rewritten accounting entries
  • Unnecessary large purchases of services or products from specific vendors
  • Absence of competitive vendor bidding
  • Refusal of financial responsibility delegation
  • Erroneous invoicing
  • Refusal to take vacation time or promotions by an employee
  • Living beyond an employee’s obvious means
  • Suspected gambling excesses or drug abuse
  • Inability to produce original records or financial documents upon request

With corporate fraud impacting businesses across the nation, corporate fraud investigation is crucial to bringing even the most complex cases to a successful closure. To minimize the chances of fraud occurring within a corporation, businesses should implement a variety of internal controls to detect and prevent foul play.

Simple, inexpensive, measures such as audits and employee background screening go a long to preventing employee theft.

How To Choose A Corporate Fraud Investigation Firm

Individuals searching for a corporate fraud investigator should seek a special investigations unit that excels in conducting undercover investigations, recording interviews and statements, and locating witnesses as well as investigating subrogation, larceny, theft, and embezzlement.

Corporate fraud investigation service providers work hand-in-hand with the proper authorities to obtain the true facts and build a case for termination and prosecution of the dishonest employee(s).

PRMG Corporate Fraud Investigation Services

PRMG agents have years of experience providing corporate fraud investigation services. We have experience conducting investigations for corporations in retail, insurance, shipping/receiving, and many others.

While each case is unique, our investigators have a set of investigative tools/services that we apply to situations as needed.

Some of the tools we regularly use in corporate fraud investigation are: