| A fraud can be uncovered in many different | | | | The investigator will approach the discovered |
| ways. A good example is by the routine activities | | | | fraud by first determining what the organisation |
| of the internal audit team or alternatively by a | | | | wants to get out of the investigation. This might |
| whistleblower who who might inform his | | | | be simply to get the money back or it might |
| managers that a colleague has been fraudulently | | | | want to make an example of the fraudster as a |
| stealing from the company. Corporate fraud | | | | lesson to others. If it just wants to get its losses |
| needs to be investigated quickly in order to | | | | back it may not welcome law enforcement |
| prevent further losses impacting the organization | | | | investigating as this might disrupt its business or |
| and to find out how the fraud happened in the | | | | cause its reputation to be damaged. For example |
| first place. It may be possible to recover any | | | | a bank might not want the general public to know |
| losses that have taken place by tracing them | | | | that it had allowed a fraudster to work in its |
| from the company to their destination. | | | | midst. |
| A specialist fraud investigator is appropriate for | | | | The forensic accountant or certified fraud |
| such a task and it is often the case that the | | | | examiner will want to plan the outcome of the |
| victim company will enlist the services of a | | | | matter with the company and develop an |
| qualified forensic accountant. Such a person will be | | | | investigation strategy based upon any contingency |
| accredited by one or more professional bodies to | | | | policy or "fraud response plan". It may be possible |
| investigate a fraud matter. He or she may be a | | | | to interview the whistleblower early on to get a |
| Chartered Accountant or a Certified Fraud | | | | quick "heads up" into what was going wrong |
| Examiner with possibly other qualifications | | | | before beginning a detailed analysis of the |
| together with many years of experience dealing | | | | accounting records, interviewing staff and making |
| with such cases. | | | | other enquiries often outside the organisation. |
| Every fraud is different. There are various | | | | For the actual approach to the investigation the |
| distinguishing characteristics to be found between, | | | | forensic accountant will most likely want to follow |
| for example bank fraud, insurance fraud and | | | | the trail of the stolen money. "Follow the money" |
| mortgage fraud. Even in these categories there | | | | will be the primary goal as this will provide not |
| may be many possibilities for different problems | | | | only a chance of getting the money back, but |
| because the fraudster is very resourceful in | | | | also evidence of why and how the fraud took |
| seeking out new and different weaknesses in a | | | | place. |
| business. | | | | |