Fraud Investigation
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What is fraud?
It is ‘Obtaining a benefit by deception’. All fraud requires deception, such as lying, misrepresenting, false documentation, intentionally omitting etc.
What is fraud investigation?
Fraud investigation is about conducting thorough inquiries and examinations into suspected fraudulent activities to gather evidence, identify perpetrators, determine the extent of losses, and support potential legal action or disciplinary measures.
An investigation is a search for the truth. Fraud investigation typically requires a deep, targeted look at financial records and databases, as well as pouring through emails records and correspondence of individuals with external companies.
A properly conducted fraud investigation is performed in a cautious and judicious manner. You cannot take immediate action. It is essential to take the time to investigate carefully and thoroughly and make sure that all of the evidence is gathered and considered.
Fraud investigation also requires thorough documentation, not only of the data and other evidence but of every step in the investigation process. All potential evidence should be gathered and protected, secured and stored.
What are the outcomes of a thorough fraud investigation?
- The obtaining of admissible evidence against the perpetrator
- Quantifying the losses
- Assisting in recovering losses either directly from the perpetrator/s, via legal action or an insurance claim.
- Providing guidance on how the fraud occurred and the lessons learnt including internal control weaknesses.
How we can we help?
Warfield & Associates has the experience and expertise to help your organisation with investigating allegations of fraud.
We can advise on the steps from initial discovery through to recovery of funds and all stages in between.