Types Of Fraud

Deliberate deception trying to ruin your financial standing or reputation is considered fraud. Those who commit fraud will do so in order to help their personal endeavors, which can manifest in numerous forms. Here are some of the areas where fraud occurs most often. 

Financial Fraud

The deliberate act of misleading someone to gain financial advantage by stealing money, assets, or property. Ponzi schemes, embezzlement, credit card fraud, mortgage fraud, and accounting fraud all fall under the financial fraud category.  Those who commit financial fraud can harm businesses and individuals by disrupting financial stability and damaging credit scores. 

Insurance Fraud

A crime that involves intentionally deceiving insurance companies to pay out money that you are not entitled to. Exaggerating the amount of a claim, staging an accident, lying on an insurance claim, faking an injury, or making a workers comp claim when you were not injured at work are all examples of insurance fraud. When you commit insurance fraud you could be facing prison time, legal fees, and felony charges. 

Cyber Fraud

Phishing attacks, identity theft, malware, social engineering, and data breaches are cyber frauds. Those who commit cyber fraud will use tricks to get your sensitive information like bank accounts, social security numbers, addresses, phone numbers, and family information. 

Corporate Fraud

Acts committed by a company or individuals in a company that is used to help gain personal advantage can be corporate fraud. Bribery, stealing company assets, and misrepresenting financial statements are considered corporate fraud.

What Is Done During Fraud Investigation?

Fraud investigations by a private investigator will follow a systematic approach to help regain as much of your assets as possible and uncover the truth. St. George Private Investigations will perform all necessary steps including initial assessment, gathering evidence, identifying patterns and discrepancies, and summarizing the findings in a final report.

Even in a digital world, fraud investigations will still involve interviews, reviewing paper documents, conducting forensic audits, and tracing digital footprints. Our investigation will collaborate with law enforcement, attorneys, and others to help prosecute offenders to the full extent of the law.  

Challenges In Fraud Investigation

Just like any investigation, there will be challenges that can slow down the process or put off the results. Finding the best solution for your fraud issue will take some time, especially if it is complex or has been going on for many years. St. George Private Investigations will work through any challenge and communicate with you throughout the process. 

Complexity Of Schemes

Since we live in a digital world where information is shared quickly as there are many avenues through which information can be transmitted. Modern fraud schemes are becoming more sophisticated as social media, websites, and mobile payments become more widely used. Digging through every piece of evidence and looking at a case from every angle is crucial to finding a resolution. Private investigators will ensure that no detail is missed. Complex schemes are hard to unravel even by the most experienced PIs. 

Data Volume

Data stealing schemes and gaining access to financial records come with a large amount of data. Numbers, web code, and financial statements can be very time-consuming to comb through. Private investigators need to pay attention to every detail in order to provide you with the evidence needed for your case. Combing through large amounts of data is resource-intensive, needing multiple eyes and personnel needed to work on the case. 

Working With Private Investigators

Hiring a private investigator adds another professional to the team. Exploring evidence and limiting financial ruin is important to St. George Private Investigations. Working with local law enforcement and your financial advisors, our private investigators will work hard to get your life back on track. Since the rise of technology has increased fraud cases, we have amped up our offerings to provide solutions to more individuals and companies. Protect your cybersecurity and have peace of mind when working with St. George Private Investigations.