FINANCIAL FRAUD INVESTIGATION -
Financial fraud is a white-collar crime type that involves criminals performing fraudulent financial transactions for personal gain.There is no single model for how financial criminals operate; financial fraudsters have only one objective, which is to find company weaknesses in order to gain personal prosperity through deception and false pretense.
The factors that contribute to the rise of financial fraud are given below:-
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Lack of Security –
Companies may not have the most appropriate security measures in place to protect themselves.
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Greed -
Personal greed is the primary motivator for executives and employees to commit financial fraud such as embezzlement.
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Use of Technology –
The use of the Internet and technology has undoubtedly shaped how financial transactions are conducted and recorded. While they allow us to be more efficient, they are not fraud-proof and their weaknesses put companies at risk.
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Performance Pressure –
Management is tempted to enter risky markets and engage in fraudulent activities to make quick profits.
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Globalization –
The more global a company is, the more likely it is to have poor communication and control, leading to a lack of vigilance among employees against financial fraud.
Aerosofts financial fraud investigators have a proven track record of capturing, protecting, extracting, and analyzing your company's lost or hidden data, as well as using expert methods to defend its admissibility in court.
The Aerosofts structured approach to financial fraud investigation can be summarized as follows:
- Recognize - we find out what really happened.
- Capture - If a crime has been committed, our forensic accountants will develop a method to capture evidence of financial fraud.
- Presentation – The captured data should be consolidated and formatted to be presentable to the courts.
- Preservation - Our forensic accountants ensure that all data collected is legally obtained and protected.
- Analyzing – Our team extracts and analyzes the data more deeply with the aim of identifying criminals.
