The Basic Steps In a Fraud Investigation

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Financial or taxes fraud. Business report and magnifying glass.

After you receive a fraud allegation or detect suspicious behaviour, you have to decide if it’s worth investigating. You should launch an investigation when you have a reasonable factual basis to believe fraud occurred. This means you can reasonably believe that a law, regulation or company policy has been violated.

Once the initial stages of the investigation have commenced it is time to determine the type of fraud that you are dealing with. By doing this is will help you target the right contact and make proper assessments.

The next step is to create a plan of action, this will usually involve placing the events leading up to the crime in the correct order. Taking everything step by step and creating a sound plan will only further assist in uncovering the criminal.

We then need to conduct interviews. During the investigation process, the investigator will need to get to know the victim better in order to assist them correctly. Sometimes background checks are done just to ensure that the victim’s motives are good while conducting various interviews for accuracy. Details are the key in solving a case, so the more the victim and the investigator discuss the series of events, the better chance the investigator has in moving forward in the case.

The investigator will interview as many people and institutions that could prove to be helpful to the case. Investigators must ensure that they have all copies of credit statements, emails, bank accounts, phone records, etc., in order to piece together a sound case. Without these essential pieces of evidence, a case will stand no chance in court. Once the investigator has collected all the evidence needed, it should be thoroughly analysed.

As fraud cases can cause many problems and pitfalls it’s highly important for investigators to remain professional and composed at all times. Staying focused is the key to solving difficult cases of fraud.

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