Does your business need a Corporate Fraud Investigator? – Atlanta

A corporate fraud investigator is a seasoned professional trained in the art of detecting fraud at the corporate office and the executive level. These investigators spend large amounts of their time looking through ledgers and performing forensic accounting.

A business having issues with accounts payable, accounts receivable, merchandise flow and at times, merchandise at the distribution centers or other areas can be indicators of corporate fraud . Although there are numerous other ways for fraudsters to “do work”, the IRS believes the negative impact of corporate fraud depends on the complexity and magnitude of the schemes.

A simple look at corporate fraud takes us to the basics. Let’s say an Executive within an organization and two other of his coworkers decide to take advantage of the company they work for. The main executive makes several purchases on his corporate credit card. These purchases include repairs to his personal home, clothing and jewelry for his wife/girlfriend. Additionally, this executive hires his two coworkers as “consultants”. The “consultants” are paid hundreds of thousands of dollars for work that is never performed. Altogether, these fraudsters are bilking the company for serious amounts of money.

To truly understand the inter-workings of these schemes, the corporate fraud investigator will spend time digging, building, reviewing and identifying the trends and activities of the suspected employees. This is not an easy task. The investigator has to stay sharp and know the signs of fraud.

In another example, a business partner starting a new sales division needed money from investors. He falsely claims to have contracts with other large “brand name” businesses and tells investors the return on their investment will gain them a 15% return. The investors, seeing the potential for profits gave out millions. The fraudster took the monies and opened bank accounts overseas and trusts in the name of family members. The corporate fraud investigator working this case quickly saw the concerns on the investors when the returns never came in.

For more information about corporate fraud, contact us at corporate fraud investigator or call 1.770.426.0547 – Atlanta