Intelligence-Led Corporate Security
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. 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.
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.
In order to properly protect corporations from extraordinary losses, corporate fraud investigation provides 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 investigators 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
- 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
Individuals searching for a corporate fraud investigator should seek a special investigation’s 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 services work hand-in-hand with the proper authorities to obtain the true facts and provide the necessary support to law enforcement.
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 internal controls to detect and prevent foul play by pre-screening employees.
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