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Fraud Prevention Services

Assessing Risk to Deter Theft in an Organization

Today, fraud in the workplace results in staggering losses of approximately $600 billion per year. The bad news: this number will likely increase with the rise of the digital criminal. The good news: fraud is preventable, detectable, and susceptible to quick, aggressive responses.

The keys to dealing with fraud are to be:

Ever diligent
Aggressively agile should you suspect or detect a crime

Your company, not for profit, or governmental entity needs to have a fraud prevention, detection and response plan. The first step is a risk assessment that’s usually followed by recommendations for newer, better and stronger internal controls. Other best practices include adding a healthy dose of employee education and installing monitoring technologies. However, as long as criminals find new ways of hurting your bottom line, you’ll always be building, revising and updating your fraud management program.

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A CLIENT’S PERSPECTIVE…

“Adams Brown is always willing to help. They always answer our questions regardless of the effort required to obtain the answers.”

Patrick Thrash – Eastvale, CA

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Business Fraud Prevention Solutions

Businesses, not for profit organizations and governmental entities often need assistance from a Certified Fraud Examiner (CFE) in the following areas:

Anti-bribery and corruption investigations
Asset tracing, misappropriation and employee embezzlement investigations
Design of IT controls
Digital forensics services
Economic damage analysis
Financial statement fraud and improper revenue and expense recognition
Fraud hotline evaluation and testing
Fraud insurance recovery investigations
Fraud prevention programs
Fraud risk assessment and evaluation of internal controls
Insurance claim analysis
IT/cybersecurity assessments
Litigation support and expert witness testimony
Reconstruction of financial records
Third party vendor kickbacks and contract compliance
Whistleblower investigations

Types of Fraud

Asset Misappropriation

This type of fraud commonly occurs when an insider, employee, or others, steal or misuse an organizations’ assets, including cash, inventory, or equipment for personal gain. Assets misappropriation is often difficult to detect allowing illegal activities to go on for some time. As a result, it is a significant risk for management to prevent against.

Check forgery
Check kiting
Check tampering
Inventory theft
Commission fraud
Expense account fraud
Health insurance fraud
Payment fraud
Procurement fraud
Theft of cash
Theft of services
Expense reimbursement fraud
Workers’ compensation fraud

Vendor Fraud

Billing schemes
Bribery and kickbacks
Check tampering
Overbilling
Price fixing

Accounting Fraud

Accounts payable fraud
Accounts receivable fraud
Double-check fraud
Embezzlement
Fake supplier
Personal purchases

Payroll Fraud

Advance fraud
Ghost employee schemes
Paycheck theft
Timesheet fraud

Data Theft

Theft of customer or contact lists
Theft of personally identifiable information (PID)
Trade secret theft

Bribery and Corruption

Bribes
Kickbacks
Shell company fraud
Schemes product substitution

Intellectual Property Fraud

Theft of intellectual property due to lack of registration
Theft of property protected under copyright, patent or trade secret
Inventor promotion fraud

Government Fraud

Contractor fraud
Healthcare fraud
Procurement fraud

Financial Statement Fraud

Overstating revenue, earnings and assets
Understating liabilities

Fraud Prevention Services for Targeted Industries

Agriculture Construction Dentists Healthcare Local Government Manufacturing Oil & Gas Restaurants

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