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What is a Fraud Investigation?
Fraud is considered to involve misrepresentation with an intent to deceive. If a company makes specific promises about a product, for example, in order to sell that product, they may be guilty of fraud if they are aware that the product does not work as advertised. Fraud is a very real and costly problem in today’s world, and it can cause loss of money, loss of life and serious injuries. A fraud investigation tries to determine whether fraud has taken place and tries to detect evidence if fraud has occurred.
What Happens During Fraud Investigations?
Most fraud investigations begin with a meeting between a fraud investigator and the client. The person launching the investigation explains to their investigators why they suspect fraud has taken place and hand over any evidence they have to the investigator. A good fraud investigator will use this initial information to find more evidence and more facts. A fraud investigator may use surveillance, asset searches, background checks, employee investigations, business investigations, and other types of methods to get to the bottom of a case.
In most cases, fraud investigations are investigations of white collar crime, which involves surveillance and careful consideration of complicated financial records. But, fraud can happen to anyone and to any size business.
Different Types of Fraud Investigations
There are different types of fraud and fraud-related crimes and there are different types of fraud investigations. Insurance fraud investigations, for example, try to uncover those who make false claims to get insurance money. In some cases, these types of investigations also uncover insurance companies who refuse to honor legitimate claims. Workers compensation investigations on the other hand, uncover employees who knowingly claim compensation for injuries they do not have. They also uncover companies who do not pay legitimately injured or ill employees. Corporate investigations often try to uncover fraud in companies while financial investigations and accounting investigations often try to determine whether any financial fraud has been committed. Identity theft investigations try to determine whether someone’s identity has been stolen and used to perpetrate fraud. General fraud investigations cover all other areas of fraud.
What Can I Do to Help a Fraud Investigation?
If you think you may need a fraud investigator, call Washington State Investigators today. As soon as you suspect that you may be the victim of fraud, start gathering any evidence you have. It is often helpful for people to keep a journal that outlines anything they observe. Writing down your ideas and suspicions often makes them much clearer and easier for you to explain your situation to a private investigator. At the same time, you should never start a fraud investigation yourself as evidence you gather may not be admissible in court. For this reason, the best thing you can do to help your fraud investigation is to find a qualified, experienced fraud investigator. Washington State Investigators have experience and expertise conducting fraud investigations.
Why Do I Need a Fraud Investigation?
Fraud costs the economy billions of dollars a year. If you are the victim of fraud, you may lose significant amounts of money, and in some cases, your good name. Stopping fraud is in everyone’s best interest, but if you have been a victim yourself, a fraud investigation can be the first step to getting compensation or your money back. Identity Theft can occur quickly and by the time you realize what happened, it’s too late. Recovery will be difficult and quite lengthy. The best option is to immediately contact your financial institutions, check your credit report and put a credit lock on it, change all your passwords, require new credit cards and notify your utility and phone providers. Trying to locate the perpetrators can be very difficult. Make sure and fill out the proper forms and submit them to the companies affected by the fraudsters, requesting their contact information. We specialize in Identity Theft Recovery, so call us if you need assistance.
What is the Difference Between Fraud and Lying?
Fraud usually involves lying for a specific gain that causes someone loss while lying does not always include hurt. For example, if you take your car to an unscrupulous mechanic, he may tell you that he makes one hundred thousand dollars a year. If this is a lie, it does not hurt you. However, if your car does not need repairs, but the mechanic convinces you that your car needs $500 in engine work, the mechanic has committed fraud because he has twisted the truth in a way that causes financial loss for you.
What is Most Important in a Fraud Investigation?
Fraud investigations can be complicated and difficult for a few reasons. First, criminals take great care to cover their tracks and escape prosecution. Secondly, in order for an investigation to be useful in a legal case, an investigator must be able to prove that fraud was intended. Washington State Investigators are qualified to successfully complete these facets of a fraud investigation. If you feel you are the victim of fraud, call us and speak with an investigator today.
Why Hire Us?
When you hire Washington State Investigators, you’ve made an important decision. We have the experience and knowledge, technology and resources to plan and execute an investigation to meet your specific situation. Hiring Washington State Investigators means hiring a partner who works with you in tandem. We communicate on a regular basis, providing you with new information and status updates about your case. Our mission is to provide our clients with a great customer experience, specialized services and solutions that deliver results.
Click for more information about Workers’ Comp Fraud or What is Employee Injury Fraud?