FRAUD INVESTIGATION

An estimated $600 billion in company revenue - or $4,500 per employee - was lost in 2002 due to fraud. Fraud and embezzlement workplace investigations are critically important. By using pioneered methods, our experienced fraud investigators will provide you with solutions to this complex problem. Our efforts include the investigation of occupational fraud and various forms of white-collar crime.

For example, over 80 percent of occupational fraud involves asset misappropriations. Cash is the targeted asset 90 percent of the time. In order to protect you, we implement our knowledge of business accounting, banking standards, and auditing methods into our workplace investigations. Coupled with our interviewing skills, we can evaluate complex financial transactions and investigate questionable business activities.

Our occupational fraud investigation services focus on the following three specialized areas that affect most businesses:

  • Asset Misappropriation
  • Corruption
  • Fraudulent Statements

Our experienced financial investigators perform a specialized analysis and review the results of the investigation. They conduct administrative and investigatory interviews with employees and non-employees to resolve any discrepancies or to verify given references. If the situation requires, we will locate and confirm independent sources of information to reach the client's objectives and determine the extent of the problem, should one be discovered. We can also implement an undercover workplace investigation, if necessary.

Often we liaise with local authorities to provide necessary evidence to seek a conviction and appropriately punish the guilty, while protecting the rights of the victims and securing restitution for your losses and the costs of using outside professional services.

Fraud-Related Statistics

The following statistics and those noted above are from the 2002 Report to the Nation. This report, conducted by the Association of Certified Fraud Examiners, provides the most detailed view of how occupational fraud affects organizations in the U.S.

  • Organizations with fraud hotlines cut their fraud losses by approximately 50 percent per scheme.
  • Small businesses are the most vulnerable to occupational fraud and abuse. The average scheme in a small business causes $127,500 in losses. The average scheme in the largest companies costs $97,000.
  • Corruption schemes account for 13 percent of all occupational frauds and cause over $500,000 in losses, on average. At least 30 percent of business losses are the result of dishonest acts by employees.
  • Fraud committed by employees results in median losses of $60,000, while fraud committed by managers or executives causes median losses of $250,000. When managers and employees conspire in a fraud scheme, the median loss rises to $500,000.
  • Losses caused by perpetrators older than age 60 are 27 times higher than losses caused by employees age 25 and younger.
  • The average fraud scheme lasts 18 months before it is detected.

Our staff received yearly training in mortgage fraud and these are some of training schools that our staff have attended:

Miami Dade Public Safety Institute - Real Estate and Mortgage Fraud Investigations
American Association of Residential Mortgage Regulators - Fraud and Investigations School
Association of Certified Fraud Examiners - Mortgage Fraud Training

Our staff is given yearly CEU in mortgage fraud related topics and are active on the latest trends. We will assist you in investigating your loans and helping you resolve claims, losses, and or groups trying to deceive your underwriting staff.

The following are some of the investigative functions we have performed for mortgage lenders, PMI carriers, and GMI carriers:

  • Occupancy Investigations
  • Employment and Income Investigations
  • Stated Income Investigations
  • Bank Statement Review and verifications
  • Loan Audits
  • Broker Audits
  • HUD audits
  • Hidden Debts (Usually debts not disclosed at origination )
  • Appraisal Fraud
Florida A2300340 - California PI26215 - New York 11000172738
Florida Association of Licensed Investigators Association of Certified Fraud Examiners National Council of Investigation and Security Services Florida Board of Certified Investigators John E. Reid & Associates Nine Lives Associates Private Investigator of California Association
International Association for Asset Recovery