The Office for National Statistics’ Crime Survey revealed that there were more than five million incidents of fraud in England and Wales in the last year. Of these, half involved some form of financial loss, and where losses were reported, 78 per cent got some form of compensation, with 62 per cent reimbursed in full.
Because of the financial ramifications that acts of fraud usually carry, it is common that both defendants and claimants will call upon the help of forensic accountants to help during the investigation.
Indeed, Frenkels’ forensics can assist with many types of fraud investigations, including civil fraud, employee theft, criminal fraud and proceeds of crime. Whatever the specifics of the case, the services Frenkels Forensics provides are based on its experts digging beneath the surface to find out the root of the fraud and, often more importantly, the extent of the fraud.
For example, in civil fraud cases, Frenkels Forensics usually finds that the fraud is larger than originally thought and further investigations often show that the fraud has been going on for a number of years. By producing a forensic accountancy report, the team is able to demonstrate the extent of the civil fraud and the weakness in the system that allowed the fraud to take place.
In cases of criminal fraud, Frenkels Forensics can assist the defendant by examining the evidence prepared by the Crown Prosecution Service; using its experience and accounting expertise, the firm can ensure that the case adds up and pick out any weaknesses in the evidence presented, which can have a huge bearing on the outcome of the fraud investigation.
For expert help with a fraud investigation contact Frenkels Forensics for an independent appraisal.
By Vitek Frenkel – find me via Google+.