Former Federal Agents with Over 100 Years’ Experience Investigating Fraud
As a business owner or corporate executive, you have a zero-tolerance policy for fraud. You care too much about your company’s reputation, and you expect your employees to act in your company’s best interests at all times.
Unfortunately, employees don’t always do the right thing. As a result, fraud is a major—and persistent—concern for companies in all industries. This includes both fraud perpetrated against the company and fraud perpetrated against third parties or the market at large. Fraud costs companies billions of dollars annually, including both direct losses from fraud and liability for civil and criminal penalties.
Our Former Federal Agents Know How To Identify, Uncover, and Dispute Allegations of Fraud
At Corporate Investigation Consulting, our former federal agents rely on well over a century of combined experience to identify, uncover, and dispute allegations of all forms of fraud. We routinely conduct internal investigations in response to instances of fraud committed against our clients as well as external allegations of fraud. In both scenarios, it is critical that business owners and corporate executives make strategic decisions based on complete and accurate information. Our investigators ensure that our clients have the intelligence they need to make the right decisions with their companies’ best interests in mind.
Types of Fraud Investigations We Handle
We handle fraud investigations on behalf of public and private companies nationwide. This includes investigations focused on (i) uncovering fraud committed against the company and (ii) responding to external allegations of corporate fraud.
1. Uncovering Fraud Committed Against the Company
If you are concerned that a client, customer, employee, or vendor has defrauded your company (or is engaged in an ongoing fraud scheme), it is important that you engage an outside firm to investigate the fraud immediately. At Corporate Investigation Consulting, we investigate all forms of fraud committed against our corporate clients, including:
Client and Customer Fraud
Clients and customers can (and frequently do) engage in various forms of fraud. This includes everything from underreporting service utilization and exceeding the limits on software licenses to underpaying and fraudulent disputing charges on their invoices. Even if you aren’t necessarily interested in pursuing legal action against one of your company’s clients or customers, documenting the fraud and handling the issue informally may be an appropriate—and necessary—course of action.
Data Fraud and Theft
We handle data fraud and theft investigations involving both internal and external bad actors. Whether an employee is improperly using sensitive data or you need to conduct a cybersecurity breach investigation, we can uncover and prove the source of the issue so that your company can take disciplinary or legal action as warranted.
Embezzlement
Embezzlement is far more common than most business owners and corporate executives realize. If you have reason to believe that an employee is embezzling from your company’s accounts, conducting an internal corporate fraud investigation is the first step toward taking appropriate responsive action.
Equipment and Vehicle Misuse
Use of company equipment and vehicles for unauthorized personal purposes or competing business purposes is another all-too-common form of employee fraud. We have significant experience investigating this form of fraud as well, and we can use forensic investigation, data analysis, and other means to determine if one or more of your company’s employees are engaging in fraudulent misuse of corporate assets.
Financial Fraud
Financial fraud includes embezzlement, misuse of company credit cards, unauthorized use of corporate accounts, falsifying corporate transactions, and all other forms of illicit access to corporate funds. If one of your company’s employees is engaged in financial fraud (or has engaged in financial fraud), we can gather the digital or other evidence needed to prove it and justify your company’s next steps.
Inventory Theft
Inventory theft is another common type of corporate fraud that requires a prompt and thorough internal investigation. While employees often think they can get away with inventory theft, we have several methods we can use to prove inventory theft and allow your company to hold the employee (or employees) involved accountable.
Vendor Fraud
We also help companies take action against vendor fraud. If a vendor is overcharging your company or delivering substandard goods or services, you can (and should) take the vendor to task. But, before doing so, you need to ensure that your company is in the right, and this means that you need incontrovertible evidence of the fraud.
2. Investigating External Allegations of Corporate Fraud
When facing external allegations of corporate fraud, one of the first steps toward executing a strategic defense is to conduct an internal fraud investigation. Once you know the facts—whether they are in your company’s favor or not—you can use this information to make strategic decisions about how to respond. We conduct internal fraud investigations on behalf of companies facing external audits, investigations, and litigation involving allegations of:
Bankruptcy Fraud
While filing for bankruptcy can be an effective way to reorganize a company’s debts and restore its financial stability, allegations of bankruptcy fraud can derail the process. We help companies deal with allegations of fraudulent transfers, preferential transfers, concealment of corporate assets, and other statutory violations.
Billing Fraud
We help companies conduct internal investigations in response to external allegations of billing fraud. This includes allegations from government payors and benefit programs (i.e., Medicare and Medicaid), insurance companies, and other entities and individuals.
Contract Fraud
We help companies respond to allegations of contract fraud under commercial, consumer, and government contracts. Whether your company is being accused of overbilling the government or failing to fulfill its warranty obligations, we can assist with gathering the information your company needs to respond appropriately.
Corporate Fraud
Corporate fraud can take many different forms, and defending against allegations of corporate fraud can require a broad range of strategies. In all cases, however, the first step toward executing an effective defense is to gain a comprehensive understanding of the relevant facts and circumstances.
Lender and Equity Investor Fraud
Companies can face fraud allegations from their lenders and equity investors in various capacities. This includes fraud in the inducement (i.e., making fraudulent misrepresentations to secure access to capital) and fraud in relation to non-payment of dividends or amounts due. If a lender or investor is accusing your company of fraud, our former federal agents can assist with collecting the internal data needed to respond to the allegations appropriately.
Insurance Fraud
Our former federal agents can also assist with responding to allegations of insurance fraud. We conduct internal investigations related to allegations of both fraudulently procuring coverage and filing fraudulent insurance claims.
Securities Fraud
We conduct internal fraud investigations for public and private companies facing securities fraud allegations as well. This includes civil and criminal allegations in U.S. Securities and Exchange Commission (SEC) investigations, U.S. Department of Justice (DOJ) prosecutions, and commercial litigation. We also conduct internal investigations on behalf of broker-dealer and investment advisory firms facing allegations of securities fraud.
FAQs: Conducting an Internal Fraud Investigation
When Should You Conduct an Internal Fraud Investigation?
Companies will need to conduct internal fraud investigations in various scenarios. This includes scenarios involving suspected fraud against the company as well as those involving external allegations of fraud. Regardless of the circumstances, investigating the facts at hand is a key first step for making informed decisions at the ownership or executive level.
How Do You Conduct an Internal Fraud Investigation?
Conducting an effective internal fraud investigation is a complex process that requires an intimate understanding of the requisite forensic and analytical procedures. It also requires knowledge of (and access to) all pertinent data sources, as well as an informed understanding of which employees should (and shouldn’t) be interviewed. When engaged to conduct internal fraud investigations, we begin by walking our client through the process and explaining everything we will do along the way.
Can (and Should) Companies Conduct Internal Fraud Investigations In-House?
Generally, companies should not conduct internal fraud investigations in-house. While there are several reasons why, one of the simplest reasons is that most companies do not have personnel with the knowledge and capabilities required to conduct these investigations effectively. At Corporate Investigation Consulting, our former federal agents rely on well over a century of combined relevant experience to conduct targeted, strategic, and efficient internal fraud investigations for our clients.
Are There Risks Involved with Conducting an Internal Fraud Investigation?
Yes, there are risks involved with conducting an internal fraud investigation in some cases. However, these risks can generally be avoided with the right approach to the investigative process.
How Much Does it Cost to Conduct an Internal Fraud Investigation?
The cost of conducting an internal fraud investigation depends on the scope of the investigation, along with other factors. When you contact us about your company’s needs, we will provide a transparent breakdown of the costs your company will incur at each stage of the process. If necessary, we can tailor our fraud investigation services to your company’s budget.
Discuss Your Company’s Needs in Confidence
If you would like more information about our internal fraud investigation services, we invite you to get in touch. Please call 866-352-9324 or contact us online to speak with a senior investigator and former federal agent at Corporate Investigation Consulting today.