FRAUD INVESTIGATIONS

With fraud costing UK businesses and individuals over £100 billion each year, it’s essential that expert assistance is sought to ensure that the right people are brought to justice. This is where Inquesta Forensic can help.

Why Instructing Financial Forensic Professionals is Essential

Cases requiring financial forensics and fraud investigations can be large and highly complex, with extremely well-hidden transactions that often need a fine-tooth comb to detect. Forensic accountants possess all the expertise to conduct far-reaching and complicated investigations that can uncover the fraud, identify who is responsible, and quantify damages. They will do this with the aim of securing the best possible result for their client.

Fraud Investigation Techniques

Financial forensics and fraud investigations are carried out using a multi-faceted approach. This ranges from reviewing documents and carrying out interviews and surveillance operations, to the production of detailed reports and appearing as an expert witness.

A forensic accountant can be instrumental in identifying the perpetrators of fraud, discovering their motives, and ensuring they are brought to justice. They can also be a powerful tool for defence lawyers to argue their clients’ case and disprove any wrongdoing.

Need Our Assistance?

If you require expert guidance with financial forensics or fraud investigations, contact our specialist team today.

Types of Financial Crime Investigation Services

Given the diverse nature of fraud, there are many types of financial crime investigation services that a forensic accountant will provide, including:

  • Asset tracing and recovery
  • Corruption and bribery investigations
  • Contentious insolvency matters
  • Rapid response fraud cases
  • Quantification of losses
  • Carrying out background checks

No matter the circumstances, you can rely on a forensic accountant to assist.

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Types of Financial Frauds

From embezzlement to the false declaration of profits, there are many types of financial fraud that a forensic accountant can deal with. Each challenge will be met with the same high level of detail and skill, while a specialist provider will also be able to effortlessly alter their working practices to offer a tailor-made service to their client.

Embezzlement is a major breach of fiduciary responsibility and trust that involves a person using the funds and assets they have been entrusted with to unjustly enrich or benefit themselves, or even transfer them to an unauthorised third party. Due to the breach of trust and betrayal that come with embezzlement, it is often considered to be a more serious offence than theft.

Company director fraud takes place when a director unlawfully takes funds or assets belonging to the firm or its investors and uses them for a purpose different to what they were initially intended for — usually for personal benefit. Individuals found to be guilty can be disqualified from being in a position of authority and also be subjected to fines or even a prison term in more extreme cases.

A business can be guilty of a false profits declaration if a director overstates its profits for the year. In practice this usually entails a struggling business opting to cover up the reality of the situation by artificially inflating its profits. False declarations of profits can lead to a false increase in share price and create an artificial image of financial security.

The act of financial manipulation is typically the practice of using creative accounting to make a company’s financial statement appear to be a lot stronger than it actually is. It is often caused by a series of factors. Despite attempts being made to crack down on the practice by regulatory bodies, it remains an ongoing issue in the UK and across the world.

A director could attempt to mislead a company’s shareholders in a number of ways. These can range from undermining their rights, withholding information, changing figures to fabricate financial performance, and more. Forensic accountants can help identify whether company directors are keeping up with their fiduciary duties.

How Our Fraud Investigation Team Can Help

Our team has access to all the latest training and technology to provide a comprehensive and efficient service that digs beneath the surface of each case to get results.

We understand that no two cases are ever the same, which is why we undertake a thorough investigation upon being instructed onto any case, to uncover details that could have been previously overlooked. In addition, we will conduct an initial consultation that outlines our expert opinion on the merits of the case, as well as highlighting any information that we believe will be crucial to its success.

Frequently Asked Questions

When a forensic accountant is instructed to assist in a fraud investigation, they will use a myriad of different techniques and practices to secure a positive outcome for their client. These include carrying out an in-depth investigation into the numbers and background of a company or individual, producing a thorough report, and acting as an expert witness in court.

A specialist fraud investigator, such as a forensic accountant, will typically look for abnormalities in a company that could point to unscrupulous activity. This can range from unusual transactions to financial statements projecting a much rosier picture than what is actually occurring.

A forensic accountant is capable of dealing with all manner of financial crime and fraud. If you are faced with suspected money laundering it is essential that you contact a forensic accountant as soon as you can. They will be able to analyse all the evidence and assist you throughout the process.

A financial fraud forensic investigation will involve the collation of several different types of evidence that is designed to build a conclusive case for or against a claim. It culminates in an in-depth report that will quantify or disprove damages and sometimes apportion blame and motive.

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