Fraud Investigations Within the Corporate Sector

We all know that fozia shan siddiqi in the corporate industry is an ever growing issue and causes directors massive problems. In some cases fraud can go on for years before someone realises and notices the situation. On a large scale with greater numbers involved, it is easier to cover up any sort of trace which may include; tax evasion, money laundering or financial reports, to solve these issues you may need to hire a fraud investigator.

What is a fraud investigator?

A fraud investigator is an individual who will undergo investigation work after the potential fraud has been reported or an executive notices something that is not adding up. Once an investigation is taking place, it is unsure on the time scale that the investigator will be able to establish if they are a culprit to fraud. In some fraud situations, corporations could look millions of pounds; these cases can lead to very lengthy prison sentences for all involved. The consequences of fraud in the business industry can often affect not only the fraudsters but innocent individuals who end up being the victims.

How does the investigation work?

All investigations are handled differently because of certain aspects the investigators have to consider, these could be; the location, the company, the scale of fraud or the country, you could list over a million reasons why each investigation will be different. The basic structure of corporate investigations is trying to establish what people know so far and how they know it. Once the investigator and relevant members from the business they are working for establish what is happening they need to try and work out the time scale in which the fraud has been happening. They can back trace this by checking any recent loses, missing documents or unexplained financial records. The investigator will have to analyse each set of evidence given and try to build a picture before he commences surveillance.

Fraudulent employees that are currently operating in criminal activities within the workplace try to do so with the utmost privacy, they will do all they can to make sure they are nor spotted or detected, whether they use a private room to hold conversations or separate phone lines that the company or other employees has no access to. When fraud is commencing in the workplace all involved will be careful of loyal employees that will disagree against their activates, this is an advantage for an investigator who may go undercover in the workplace. Once the individuals are known, an investigator could go undercover within the work force and set up allies with the known employees.

How to prevent fraud

If an organisation has hired an investigation team there’s a high chance that fraud has already taken place, this can work to the organisations advantage as they will be able to prevent future fraud. An investigator will offer such services as; background checks, status reports, surveillance and interviewing to make sure any future employees have no criminal backgrounds, the best measure against fraud is to prevent the situation from happening in the first place.

Whilst most employees will be hardworking, honest, loyal and supportive of your ideas they will always be some who are not happy of the current surroundings and the life style they are facing. Creating a happy and safe environment can not only gain trust but is a massive impact in reducing fraud and employee theft, the more the employees respect you the smaller the chance of fraud.

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