Management of corporate fraud cases
Source ACFE.COM
Management of fraud cases
Corporate fraud case management is a crucial aspect in resolving fraud cases.
Given that the necessary skills in the management of fraud cases must exist in the company, normally delegated to Internal Audit, but if this function was not present, the company could find itself in complicated and difficult to manage situations.
Let’s carefully review some of the main numbers related to fraud:
Average duration of fraud – 14 months
Average amounts subtracted in fraud – $ 125,000
Single fraudster or organization: single, two or more fraudsters at the same time
Fraud management – doing nothing, dismissal for just cause, reporting to the judicial authority.
In the event that Internal Audit exists, this function will take care, in compliance with the rules, of conducting in-depth analyzes and internal investigations.
This is where the first problems arise.
What data can we process of the subject or subjects concerned?
How far can we go in managing fraud cases?
In the current Italian and European General Data Protection Regulation, when do we go beyond the limits imposed by the regulations?
Are there any consequences, including criminal ones, if the auditor does not comply with these rules?
How to operate in compliance with the rules?
It is easy to understand how complicated it is to give answers to such questions. But then should fraud cases be handled or is it necessary to ignore it?
Surely cases of fraud must always be managed from the moment of their discovery, to the operational management to the closure of the case.
A practice used by virtuous companies is certainly that of managing the internal investigative project through the support of companies specialized in corporate investigations.
These external companies that carry out investigative activities regularly registered in particular registers, will treat all investigative aspects in compliance with the law.
Michael Slim International has been carrying out these corporate investigations for over 12 years and supporting the Internal Audit functions, internal legal departments and Human Resources in these activities in compliance with the law.
