One of the common types of crime committed in a business is fraud, and often the business is the victim. When financial fraud occurs within the business, it can be hard to pinpoint who is the culprit. A business can lose millions of dollars. If you own a business and you begin to detect lost assets, you are most likely falling victim to financial fraud. As there are different types of fraud that can occur in a business, Advanced Private Investigator & Security of Miami, FL will share some of the common types of fraud and how private investigation services can help.
Types of Frauds in Business
There are a number of ways to take advantage of a business’s profits which affects everyone that is part of the business. Following are some of the common examples of fraud:
• A sales rep may be misrepresenting the company or is completely inventing assets.
• An employee or member of the company is paying bribes, payoffs, kickbacks or illegal political funds using the company’s funds.
• An external supplier or another outside stakeholder is paying bribes or kickbacks to a member of the company.
• A member of the company is making fraudulent sales to other buyers.
• A member of the company is engaging in tax fraud.
These are a few examples of common cases involving financial fraud. It is important to determine the source of the fraud. It is unfortunate that even the CEO of the company who was not involved in the crime may be responsible for paying the bill or even face criminal charges or a civil suit. For these reasons, any red-flags should undergo major investigation.
What is a Financial Fraud Investigation?
When seeking an investigation into your own company or business in search of potentially fraudulent activities, you can mitigate the repercussions of the fraud by taking the initiative. However, you will want the findings to be without a doubt legitimate and of course, make the investigation thorough. This is where a private investigator is vital. You have an investigator bound by laws to look for any criminal activities occurring in the company. In this case, you as a business owner might be concerned with potential financial fraud and a private investigator can begin taking the needed steps to locate who is at the center of the crime.
What is the Fraud Investigation Process?
The process an investigator may take will vary depending on the circumstances surrounding the case. Some of the focused areas of the investigation will involve an in-depth accounting, review, and audit. This is often where most information can be found when determining financial fraud. Along with a careful analysis of the company’s accounting information, a private investigator can help locate and focus on the fraudulent transactions and those directly involved. A private investigator will take their findings to the client directly including all documents and proof of fraud that the client can then take to court.
Private Investigator & Security Services in Greater Miami, Sunny Isles, Hialeah, Fort Lauderdale, Pembroke Pines, Hollywood, Miramar, Boca Raton, West Palm Beach & Miami Gardens Florida
Financial fraud is all too common in a business or company. To ensure you are properly represented when you are a victim of fraud, seek a professional private investigator. For quality investigation and security services contact Advanced Private Investigator & Security of Miami, FL today.
