CORPORATE FRAUD…HOW COMMON IS IT? – Atlanta Georgia

Corporate fraud schemes cost the United States billions of dollars every year.  With hundreds of different fraud schemes out there it’s hard to determine the exact cost to companies across the nation.  Believe it or not there are two specific types of corporate fraud involving insurance companies that all these schemes fit into…very simply hard versus Soft fraud. Both require a corporate fraud investigation.

Hard fraud schemes are meticulously planned out.  As an example of a “hard” fraud scheme, setting an arson fire to collect insurance money on a building.  Most organized crime rings have some sort of hard fraud scheme game they are into.  It can be setting up auto accidents or even as intricate as an auto theft ring.

Soft fraud is much more common in the scheme of the general world population.  Soft fraud is committed when an individual has an “opportunity” to exploit what might actually be a legitimate insurance claim. A soft fraud also requires a corporate fraud investigation.

Let’s look at an example of soft fraud.  So this giant clunker, rusted, beat up car pulls in behind you in a parking lot.  You don’t see the car.  You back right into it!!  Wow.  Aren’t you surprised when your insurance adjuster informs you that the small dent you thought occurred has turned into replacing the entire rusted front of this jalopy.  The person you hit has taken an “opportunity” to scam more money from your insurance company than is rightfully theirs.  And voila, you have corporate fraud the “soft” way.

Do you think that corporate fraud is occurring in your business?  Contact us at corporate fraud investigation or call 1.770.426.0547 – Atlanta Georgia