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Even if an organization is taking preventative measures, there is always the possibility that fraud can occur. Many fraudsters take extreme precautions to cover their tracks, and their actions are sometimes more widespread than anticipated.

Every organization is vulnerable to fraud. According to the 2018 ACFE Report to the Nations, private companies and public companies alike saw a median loss of $130,000. Organizations of all sizes and across a variety of industries have reported fraudulent activity; however the most victimized industries include Banking and Financial Services, Government & Public Administration, Manufacturing and Health Care.

All concerns or suspicions of wrongdoing should be taken seriously and promptly reviewed to determine if a fraud investigation is warranted. During the investigation, sufficient information should be gathered and necessary procedures (including interviews) should be performed to determine:

  • Whether fraud has occurred
  • Loss or exposure associated with the fraud
  • Who was involved and how it happened

It is important the investigator prepare, document and preserve evidence sufficient for potential legal proceedings, which is why it is critical to have an expert such as a Certified Fraud Examiner (CFE) involved.

The Brown Smith Wallace Fraud Investigation and Quantification team has the necessary tools and experience to help you take appropriate steps to make your organization whole again.

  • Quantification of Damages It is not only important to determine how fraud was perpetrated, but also to find out how much was taken. To recover lost funds, each company must be able to prove to the trier of fact how much was taken.
  • Insurance Claims Assistance – We provide assistance to the victim compa­ny by performing an analysis of the activities and quantification of the fraudster’s illicit acts. Our findings are then documented in a report specialized to meet your insurance and company’s specifications.
  • Expert Testimony – Our professionals frequently assist legal counsel in internal investigations and litigation/prosecution involving complex financial transactions. We are hired not only for our analytical knowledge and skill, but our ability to credibly testify and defend our opinions and findings.
  • Forensic Accounting & Investigation – Our forensic accounting and investigation experts are capable and experienced at working with company management, attorneys and law enforcement to investigate potential fraud. Our techniques include analyzing, reviewing and testing accounting records and controls as well as interviewing employees.
  • Fraud Data Analysis – Our trained and certified professionals search for and identify patterns or irregularities indicative of fraud, which are beneficial as part of a larger fraud investigation or as a stand-alone engagement.

To schedule a fraud investigation for your organization, contact Ron Steinkamp, or take our fraud prevention self-assessment here.

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