Correct handling of a fraud case
It is impossible to eliminate the risk of fraud completely. Once a case of fraud is established in your organisation you need immediate access to the facts: how was the fraud case made possible? How far does it extend in your organisation, who is involved and what is the likely financial impact?
If the problem escalates, you will need to produce a statement in good time and find a credible solution. You will need an investigation, communication and specific measures. AYou will also have to consider a set of complex, technical and constantly evolving statutory regulations (social, tax, penal, etc.). These are tasks with which BDO can support you.
Though every forensic investigation is unique, our experts apply a standard methodology when organising, carrying out and reporting the analysed fraud cases.
Our services focus on investigation (research and analysis of data and interviews), background search, and asset tracing.
Various types of investigation
- Conflicts of interest, bribery and extortion are the most common forms of corruption. It is a form of fraud that relies heavily on trust, in this case the position that the relevant employee received from the organisation. Tackling this type of fraud cases requires specific analysis techniques. Our experts also make recommendations to avoid such type of fraud in the future.
- Misuse and theft of company assets
- Theft and breach of trust are common forms of fraud in which company property is unlawfully used or stolen by an employee or a manager for personal gain. Whether cash, internal expense allowances, supplies or material are involved, our experts have a large experience in identifying this type of fraud and making recommendations to avoid such type of fraud in the future.
- Falsification of financial reporting
- Financial reporting fraud may not be the most common type of fraud, but it does generate the biggest losses for your company. There are many possibilities in financial reporting to show an overestimation or underestimation of the accounting items. Our experts have a large experience in identifying this type of fraud and making recommendations to limit such form of fraud in the future.
- To explore fraud investigations in detail, BDO has various IT techniques and tools at its disposal to copy and analyse data. Copying is done so that the evidence can be used in court. In some cases, data that has been previously deleted can even be recovered. Regarding the analysis of data, our specialists use technological tools in order to use data in files, e-mails or mobile phones.
- If you want to start a new business relationship with a partner, it is essential that you are aware of its financial situation, its background and its reputation. BDO performs background checks for you where necessary.
Asset tracing (OSINT - Open Source INTelligence)
- In connection with fraud, it is not unusual for company assets to be lost because fraudsters try to make them unreachable. BDO uses its network to try to trace these assets in Belgium and abroad.