Fraud can cripple an organization, whether committed by lower-level employees, which, according to the Association of Certified Fraud Examiners (ACFE), accounts for 46.2 percent of frauds, or the upper management of an organization. Fraud can present itself through a variety of complex scenarios including misappropriation of funds, identity theft, Ponzi schemes, mortgage fraud, and insurance fraud.
According to a survey of Certified Fraud Examiners (CFEs), who investigated approximately 1,800 cases in 2008 and 2009, the median fraud loss for U.S. based organizations is $105,000 each year. The survey also identified that billing and corruption matters were the leading types of fraud reported not only in U.S. cases, but also worldwide.
MSA Investigations professionals have extensive experience working on wide-ranging and significant fraud investigations, including a $5.3 million payroll fraud engineered by a company’s bookkeeper, and a $10 million wire fraud case involving a national food chain that had been victimized in a scheme.
Some of the typical complex fraud cases include the following:
- Misappropriation of Funds