Everyday hundreds of businesses fall victim to fraud. Companies lose millions of dollars through financial fraud and those responsible make huge sums of money.Forensic accounting and fraud investigation includes high levels of training to catch such thieves.
The investigators provide their services to law firms, businesses, government agencies and financial institutions.
What is Fraud?
Fraud is not as simple as theft that involves picking up money and leaving. It requires months, even years of planning before it is implemented. Because of the technological advances in our world, the thief doesn’t need to be there in person to successfully steal money.
All they really need are a few papers, information and fraudulent covers and the company loses large sums of money.
What do Forensic Experts do?
Experts through Forensic accounting investigation identify suspicious activities and follow them to the source.
Using expert techniques and computer programs, the investigators use deep digging software to pull out any discrepancies from accounts.
These individuals are trained well and know what abnormalities to look for when investigating fraud. A good lead can be anything from a short email or a deleted file. Once these are found, locating the source becomes easier with tracking programs.
Other methods of forensic accounting investigation include a lot of things a forensic investigator can do.
For one thing, a thorough forensic financial scrutiny is conducted of all suspicious individuals. Going through their personal records, carrying out background checks and keeping them red flagged is one of the ways to catch them.
Conducting a financial analysis of all the assets of a company to look for abnormalities or anything peculiar will pinpoint the oddities in the company books. Having the employees working there help compile the information and take poly graph tests is necessary. With the investigation going on, the company involved would have to be a hundred percent alright with spying. Their employees would be monitored and any man or woman doing something suspicious would be highlighted and their personal belongings searched.
Monitoring phone calls of the suspected individual can be carried out through listening devices. Emails can be monitored and text messages retrieved even after they have been deleted. Certain programs can help get information off the hard disk of a computer after it has been cleared out or even destroyed. Other programs can tap into computers from a distance and hack in to a suspect’s domain.
Other programs can tap into landline telephones, placed around the work place so that all calls can be monitored and no employee can speak freely. Once the space for the search is narrowed and suspects observed, it becomes easy for the investigator to point out the one responsible. When the suspect is not of the office, then there are techniques to get to him through the account he or she has hacked into. It can be scrutinized through sophisticated programming and seen it is tampered with again, from someone other than a company. If not, then the tracing program works well enough.
Forensic investigators have been going through accounts and fraud for years. They use court admissible cyber evidence and have sent more than one wrong doer to jail through their investigations.