When a fraud is discovered or even suspected it is important to act quickly. However, rushing in with all guns blazing is likely to panic the culprit, allow evidence to be destroyed and even result in claims for constructive dismissal! A measured response ensures evidence is protected, losses are minimized and there is more chance the perpetrator can be dealt with appropriately.
Mark Jenner & Co Limited is regularly asked to assist with managing a fraud response as well as investigating and tracing the losses themselves. Often the key outcome to any fraud investigation is a clear report that allows fair dismissal of a director or employee who has been stealing from the business. Other times it can be the tracing and quantifying the losses, in order that recovery of assets is possible.
The need for a fraud investigation arises in a number of different ways. One of the most common is when a whistle blower informs the managers of a company that a colleague has been stealing funds. Other ways in which … Read more…
WHY PROTECT AGAINST EMPLOYEE FRAUD? According to the Association of Certified Fraud Examiners, businesses lose on average 7% of their revenue from fraud. In a recent survey of over 2000 employees carried out in the UK, 20% of them admitted … Read more…
The “credit crunch” was named after the irresponsible lending practices by the banks and other financial institutions that were out of control when they reached their peak in around 2007. It had become possible for virtually anybody to approach a … Read more…
The incidence of mortgage fraud appears to be increasing. Much of it has been coming to light as a result of the down turn in the property market that accompanied the current general economic down turn or “credit crunch”. When property … Read more…
During a recession you would think that investors would be more careful with their money. Is it the lure of high interest rates when conventional financial services products offer such a low return that encourages otherwise astute people to invest their wealth … Read more…
It appears that the toy retailer Toys R Us is the latest big business to demonstrate how easy it is for the fraudster to attack if simple anti fraud prevention methods are not observed. Embezzlement master Paul Hopes stole some … Read more…
Most fraud cases investigated by Mark Jenner & Co involve some interaction with a bank. It may be simply through the examination of bank statements for an account used to launder proceeds of crime or it might be an investment … Read more…
There appears to be a greater risk of charity fraud than corporate fraud. The reason for this is potentially because the culture within a charity is profoundly different to that within a company. A charity is a good cause, it … Read more…
Prevention is better than cure – would seem to make sense in the case of fraud as it is in the case of your health. Fraud can cause a company to lose a great deal of money, or worse collapse … Read more…
If an employee steals from the organisation he or she is working for there are a number of ways in which this can be dealt with. The decision will no doubt be based on the organisation’s fraud policy and what … Read more…
Fraud prevention measures are intended to reduce the risk of fraud. By anticipating what a fraudster might be able to do, and installing a number of cost effective controls, it is possible to protect a company from the fraudster’s attention. … Read more…
The Ponzi fraud is a classic example of an investment fraud. It dates back to early last century when Charles Ponzi came up with the idea of conning investors by using their own funds to pay interest. I am willing to … Read more…
In recent years before the “Credit Crunch” the relaxation of lending criteria for those persons wishing to become property landlords meant that the number of people buying houses purely to rent out to students and professionals for income and capital … Read more…
