Specialised Cases for a Fraud Investigator
Article Published:Aug 12
With fraudulent activities costing businesses in so many industries millions every year, more and more companies are turning to private fraud investigators to curtail losses and sift out the perpetrators. Fraud can range from dubious life or vehicle insurance claims, to misappropriation of trust funds and so on. This piece will focus on some of the fraudulent activities that a private fraud investigator may work on.
Large scale bribery can go on undetected for extended periods of time costing businesses significant amounts of money. This is typically very difficult to stop unless the perpetrators are caught “in the act”. Private fraud investigators may look to engineer a situation in which hidden microphones or similar devices actually catch a culprit red-handed. This scenario needs to be handled prudently, within the confines of the legal framework, in order to be admissible in court if necessary.
Extortion is something we hear about all too often, whether it’s at government level or within business circles. Extortion is the act of obtaining something, particularly of monetary value, through threats or force. In these cases the fraud investigator will try to collaborate with “whistle blowers” or informers in order to bring the culprits to justice. Very often this crime is associated with high profile officials or socialites.
Altered claims sheets
While in isolated cases of an individual this may not cost a company substantial amounts, it is something that may spread throughout a business structure and with time can lead to massive financial loss. The act of altering your claims sheets involves someone falsifying their claim sheet to reflect hours that they haven’t actually worked, or claiming illegitimately in other ways such as travel allowances. Severe cases may warrant thorough investigation in order to establish the right regulatory framework and send the right message to employees.
There are many different ways for fraudsters to either make a “quick buck”, or to slowly bleed a company dry over several years. With the culture of fraud and embezzlement businesses that become victims often turn to private fraud investigators in an attempt to stop the fraudulent activity and expose the guilty party. Effectively stomping out fraud and corruption before it can spread can and will lead to considerable savings while leaving a strong message that such dishonest and costly behaviour will not be tolerated.