As much as £12 billion worth of fraud goes unpoliced every year in the UK because fraud investigations are not seen as being as ‘sexy’ as other crimes, a new reported has suggested.
These are the findings of an investigation by City of London Police into fraud and cyber crime that is going unpunished. The organisation says 1.2 million crimes were not reported by individuals and businesses such as banks in 2013-14, therefore meaning that the 3.7 million annual fraud cases stated in Government figures was actually closer to 5 million.
Frenkels Forensics is well aware of how common fraud cases are and the complexity involved in fraud investigations. Because of its expertise in this area the company is very experienced in handling both civil and criminal fraud.
Frenkels Forensics is regularly brought in to examine the chances that a business is the victim of fraud, whether from within – by an employee – or from an outside threat. This means that Frenkels’ experts conduct their investigations in a confidential and prudent way in order not to alert the guilty party of the real reason for their being there; they then establish how the fraud has taken place and the extent of the damage done.
In criminal fraud cases Frenkels often acts on behalf of the defendant to examine the case against them and ensure that all the evidence is correct and consistent. This can have a major bearing on the overall outcome of a case.
Importantly, Frenkels also boasts computer forensics experts within its ranks, who are pivotal because of the amount of fraud today that is intrinsically linked with IT systems and cybercrime. This area of expertise is often essential in establishing how fraudulent activity took place, who the perpetrator was and the financial repercussions of it.
For expert help with any fraud investigations contact Frenkels Forensics for an independent appraisal.
Alternatively, if you’re looking for advice in any aspect of forensic accountancy, then do get in touch via Twitter, Google+, LinkedIn or by visiting our website www.frenkels.com
By Vitek Frenkel – find me via Google+.