It is not often that a ‘smoking gun’ is discovered at the outset of your concerns.
In many cases, a party affected considers that fraud is not the reason for their concern, for example when considering who may be suspected of committing the fraud or if this is a situation of carelessness as opposed to intended dishonesty.
In other cases, you do believe fraud has been committed but do not know who by.
Our experience of fraud investigations tells us that there are many factors to consider when fraud is first suspected.
Whether you are an individual, a company or not-for profit organisation, whether you are regulated or not, many of these factors will be relevant to you.
Getting a handle on what to do and in what order can often lead to significantly different outcomes if you decide to pursue civil recovery through the Court process.
If you act in haste without legal advice, that may lead to damage to evidence or tipping off a suspected party (whether they are known or not known to you) so that they move their assets which can make any subsequent claim of limited benefit.
If you are regulated organisation, ensuring an accurate record of decision making and reasons for such decisions, the process and outcome is essential when detailing matters to your regulator.