What Are Major Information Sources In Fraud Investigations?

What do you think can be the major tools to reach the depth of any fraud committed in your organization: accounting information, payroll records or internal memos? These might be helpful investigation tools for small investigations conducted by individuals, but what about huge fraud investigations with embezzlement of huge sums?

To reach the culprit with all the required details, these small tools might not help you at all. Being a common person, you will not go beyond these tools; but professional investigators have much stronger information sources to prove the case. In Mumbai Fraud investigators take help of a wide range of advanced sources including both public and non-public records to investigate the cases.

Non-public Records:

Fraud investigators start their process with collection of information from non-public records like banking details and federal tax returns. Investigators are not allowed to access this data without permission of judge. In case of absence of judge’s authorization, you can also take help of a suspect to get information in the interest of full disclosure.

Telephone records, credit reports and mortgage loan files are some additional non-public records, private investigators use to get useful information about the suspect.

Public Records:

There is no dearth of public records to collect information about an individual or a company. The only requirement is to find the accurate information from a bunch of data. Corporate investigators in Mumbai take help of data aggregators to ease the process and get right information including criminal, cabin and bankruptcy records of different areas.

As the reports prepared with the help of information provided by data aggregator can be very lengthy, investigators usually cross check it to exclude less important information.

Other Records:
Online data search is one of the latest techniques used by the private investigators in metro cities. Online presence of the suspect can help them get essential information. They access social media accounts, professional accounts and other sources to get the best information available online. In case of corporate frauds by companies, investigators also access corporate websites of the company that can provide ample information about the company, management and history.

Fraud Investigation Process and Analysis

If someone is lying to you regarding the transactions or trying to secure unlawful gain, he/she is involved in a fraudulent activity. Lying regarding other important matters to get any kind of gain like to secure a position is also fraud. This is the time when you should hire a professional detective for fraud investigation and collect the evidences to take legal or other action against the culprit. There have been cases when companies showed salary transactions in accounts of employees, who are not even working with them, just to save taxes or for other financial benefits.

With the advancement in technology, there is rise in white collar crimes and it's really getting difficult to track these cases. Why, because this can include anyone within the organization or outside the organization. Today, most of the companies save essential information on computers, and it’s very easy for a tech savvy person to hack anyone's system and get the confidential information. The private fraud investigators working in different parts of the country like in Kolkata, Mumbai and Delhi have access to many technologies enabling them to investigate the case.

Major frauds:

• Duplicate payments

• Forgotten or understated receivables

• Data changing by hacking into accounting systems

• Irregular cash and bank transactions

Data Analysis

This is one of the most important steps taken by the professional detectives. They use different data models and hypothetical fraud scenarios to get a direction to detect the case. Benford's Law is an advanced technique used by the detectives. Fraud detectives in some parts like Kolkata also consult with audit teams to check out historical data and analyze the data with different tools.

The investigator hired from a reliable detective agency like AMX Detective not only helps you find out the perpetrator, but also assist you in cost management. They use different investigation process for individuals and companies. If they work in a company that has different branches, they also visit them like in Mumbai, Delhi and Bangalore for fraud investigations. They also prepare a file of evidences to help you during legal processing.

If you notice any unnecessary payment or transaction in your finance department, don’t ignore it. Question your employees regarding the same and if you don’t get satisfactory reply, contact a professional detective agency to hire an investigator.