Fraud cases are complex investigations with many possible outcomes. The goal is to prove or disprove each element of the allegation using objective evidence, not inferences or opinions. For example, if you receive an allegation that employee Bob stole money from till number four on March 31, your job is to use work schedules and security footage to determine whether the incident took place. You may also need to speak to the suspect, their manager, and other individuals who could offer insight into why or how the fraud occurred. This is when a strong fraud policy and dedicated investigators are crucial.
Once the investigation is complete, corrective measures are implemented to stop further occurrences of the fraud and restore trust. This might involve firing the individual responsible, imposing stricter controls, or taking legal action. It is also important to share the results of the fraud case with all stakeholders so that they know what happened and how it was prevented.
Depending on the nature of the suspected fraud, it might be prosecuted in civil or criminal court. In a criminal fraud case, the perpetrator is convicted of a crime when prosecutors can establish their guilt beyond a reasonable doubt. In a civil case, the burden of proof is lower, requiring a jury to find that it is more likely than not that the fraudster acted in a way that caused harm.
Victims of fraud often seek restitution or damages from the perpetrator of the scam. If you are considering hiring a law firm or asset recovery company to help recover funds, make sure you understand the services they provide, the cost, and their track record.