|
Corporate investigation covers fraud and the multitude of activities that can occur when a company is subjected to misconduct or the abuse of a person’s position leading to financial loss and confidence to the company.
Common fraud activities include - breaches of fiduciary duty by directors and officers, theft of goods or proprietary information, conflicts of interest, corruption and diversion of business.
Estimates suggest that up to 5% of annual revenues are lost to corporate fraud.
Applied to the estimated 2009 Gross World Product, this figure translates to a potential total fraud loss of more than $2.9 trillion.
Besides financial loss felt through assets and revenues, there are many other implications such as loss of investors' confidence, brand equity, market share, employee morale and business opportunities.
At Global Insight we deal with : |
|
allegations or instances of fraud and corruption |
|
collection, collation and preparation of evidence |
|
interviews and preparation of witness statements |
|
forensic examinations |
|
reports for presentation to boards, legal counsel, regulatory or law enforcement bodies |
|
global tracing of assets or the proceed of frauds |
|
litigation support |
Fraud & Corruption
Occupational frauds fall into three main categories:
Asset Misappropriation - involves the theft or misuse of an organization's assets. Typical examples are skimming revenues, stealing inventory and payroll fraud. Some form of asset misappropriation occurs in approximately 90% of all fraud cases.
Corruption - Contrary to their duty to their employer, or the rights of another business associate, fraudsters use their influence in a business transaction to procure some benefit for themselves or another person. The most common examples are bribing officials and offering or accepting kickbacks. An estimated 13% of business revenues are lost through corruption.
Fraudulent Statements - Falsification of an organization's financial statements. Common examples include overstating revenues and understating liabilities or expenses. We have uncovered where losses of US$4.25 million and more have been felt! |
We provide support to insurers to assess the veracity of suspect claims. We have a depth of experience handling a range of insurance investigations including maritime issues, fire & accident and general insurance claims.
We work hand-in-hand with litigation teams to support the forensic process by, for example, collecting evidence and locating/vetting expert witnesses. |
|
|
|
|
