Tips to Conducting an Effective Fraud Investigation

Fraud is a very serious crime committed in companies around the world. People and companies can become unwelcome victims of this form of crime, it can cost a company thousands in damages and can leave them with a very bad reputation with customers, which can have long term negative effects in the long run.

If you think fraud is taking place in your company or it has been brought to your attention that one of your staff members is conducting fraud on a regular basis, then you are going to want to start considering effective fraud investigation services to get to the bottom of the accusations and ensure that it is the truth. The sooner you catch the person carrying out this crime, the sooner you can repair your reputation and ensure it doesn’t have a negative impact moving forward.

In order to conduct an effective fraud investigation, there are a few steps that need to be taken. The first is to identify the issue. Whether you suspect something is going on within your own company or it has been brought to your attention that someone is defrauding you on a daily basis, you will need to identify the issue. Fraud can be someone falsifying cheques and making them out to themselves to double paying staff, when in fact the second pay cheque is banked into their own personal account.

Other form so fraud includes staff members making deals with suppliers, such as placing orders and agreeing on a price and then increasing that price, so that they can take home the difference. The problem is that once someone gets away with the crime the first time, it is easier to carry it out over and over again, draining your company of its cash flow and potentially harming your business in the long run. You need to find the holes in the system, areas where fraud can take place and then identify where your problem is lying right now.

Do not approach the individual immediately, this can give them the time to hid what they have done, crook the books so to speak. Rather start looking around for a reliable fraud investigation service that can carry out the investigation on your behalf. These companies have extensive experience, they know what to look for and are able to provide you with the evidence that you need to confront the employee.

If it is expected that the fraud carried out is severe, it may be worthwhile calling the employee into your office and having a chat to them. It is in this meeting you will want to suspend them until the investigation is over. Tell them the evidence you have in front of you and ensure they are aware you have called in professional fraud investigation services. Make sure that they leave the building immediately and do not have access to any files or computers, so they are unable to back track, hiding the evidence you will need to show that fraud has taken place.

The fraud investigation services team will come in and go through all the books and departments within the company to confirm any allegations. They will identify the severity of the fraud, coming up with all the facts you need. They will document their investigation, giving you a complete report which you can use to let the employee go, relieving them of their duties to the company.

Ensure you choose a reputable company, one with a proven track record in achieving results that you know you can trust to get to the bottom of the investigation and provide you with a complete and accurate report on their findings.