12 February 2020
Corporate Fraud

Corporate fraud is extremely dangerous to businesses and can threaten to bring down entire corporations. It can be very hard to detect and can go be unknown to management for many years. Sometimes by the time it is found out, it might be too late because of the damage that has been done and the number of people involved in the fraud. For corporate fraud, when more people are involved, the problem can be infinitely harder to solve because it is much easier for the culprits to cover each other’s tracks and hide the financial reports from their superiors. Here at International Investigative Group, we have a team of experience professionals who are experts at investigating corporate fraud cases.

What to Expect During Investigations

It is important that when there is even an inkling of suspicion, you take corrective action as quickly as possible. Once the investigation starts, it will be revealed to you how long the fraud has been going on and the results of the corporate fraud on your company. In some high profile cases, investigators have been known to expose entire companies of their fraudulent behaviors and what they do to cheat their customers of their money.

How do the Investigations Work?

There is actually no hard and fast method for all corporate fraud cases. The methods that are used in such investigations are usually dependent on the specific case. However, the standard procedure for most cases involves speaking and interviewing the executives and employees who are suspected of committing the fraud, and collecting information that can help with the case. Some of this information consists of financial statements and any documents that might be missing.

It might be shocking to realize, but usually the employees who are more likely to engage in such fraudulent behaviors are those who think that they have a higher level of protection and privacy as compared to their lower-level colleagues. They might utilize channels of communication that are private and not associated to the company. The best way to uncover such information from these individuals is to hire an investigator who is experienced in this field and has the means to carry out surveillance on the suspects.

How to Prevent Corporate Fraud

According to expert private investigator, Dan Ribacoff, “It only takes one bad apple to ruin a whole basket of apples. Similarly, it only takes one single employee to start engaging in corporate fraud before the problem gets out of hand.” Although it is safe to say that most corporate workers in the country are honest and loyal to their companies, it only takes a small percentage of dishonest workers to start corrupting the rest of their colleagues. Usually, when there is even a need for investigation for such cases, criminal activity is already happening in your company. Therefore, it is wise to believe that prevention is better than cure in the case of corporate fraud.

It is imperative that every corporation develops a fraud prevention strategy to prevent such destructive behaviors from ruining businesses. Our fraud investigators also offer more than normal investigation. They specialize in the aforementioned covert surveillance and background checks on prospective employees.