CFE, CII, FCIISCM, CATS, CCPS, CFAP
CFE, CII, FCIISCM, CATS, CCPS, CFAP
Director – Forensic Investigations
MBA, CFA and MS Finance
Associate Director – Forensic Investigations
MBA and CFE
Fraud risk management is a holistic and proactive fraud mitigation approach that is embedded within an organization. A successful strategy requires robust internal controls plus investment in anti-fraud technology. It also needs to consider the current and future fraud landscape.Fraud and financial misconduct are an undeniable reality of the modern globalised business landscape. The average U.S. organisation incurs an estimated 5 per cent loss to its annual revenue due to frauds. As a result, businesses are increasingly interested in fraud risk assessment and management to help protect the bottom line. Furthermore, regulators are increasingly demanding more active, global management of fraud risk.
In the wake of high-profile corporate scandals, and new stringent laws and regulations, business executives are increasingly pushing for organisation-wide policies, programs, and controls to address fraud and misconduct.
By leveraging our knowledge and in-house expertise of the fraud risk facing today’s enterprises, we can assist our clients with identifying the business areas prone or vulnerable to fraud and misconduct. We can also help clients assess and prioritize their fraud risks and attach meaningful anti-fraud actions to help mitigate risks and enable effective and consistent fraud prevention.
Fraud investigation, basically, refers to the process of examining whether the scam or fraud has taken place and collecting evidence to save the interest of the victims involved.
For a better understanding of fraud investigation, let us understand what fraud is. Fraud can be defined as misinterpretation or misappropriation of things with an intent to deceive people. For example, if certain companies make some claims about features of their product and the product does not work in a similar way, then it is a fraud with its consumers. Fraud can make people lose their money, causes injury, or it can even lead to their death. Fraud investigation can be both internal and external to find the real culprit behind the act of fraud.
A fraud investigation is an examination of evidence to determine if someone deliberately deceived others to unfairly advance their own interests.Fraud in organisations is nothing new. Robbery and criminal activities in the business are as old as the business itself. But with the advancement in technology, there are even more chances of corruption. With the increase in fraud, your organisation is exposed to considerable legal risk & loss of billions of dollars. Therefore, it is necessary to take action & protect your business. Need not worry; we are here with the fraud investigation services to supervise everything from corporate investigations to ongoing due diligence.
A corporate investigation is the thorough investigation of a corporation or business in order to uncover wrongdoing committed by management, employees, or third parties. There are many aspects of corporate investigations and they can vary significantly based on your needs.
We, at Netrika, follow a very unique and novel approach & methodology in examining the fraud, detecting its trail, and, ultimately identifying the red flags from where the fraud originated. Our highly competent team of professional investigators are equipped with the knowledge, tools, and experience to get results for our clients. Our corporate investigation team examines both internal and external risk factors while conducting an investigation. We look for all impacts of the work environment & then provide customised solutions, continuity between strategy and activity.
At present, instances of fraud within the corporate sector are on the rise. It is an ever-growing serious issue that causes a lot of concern and poses massive problems. In many cases, corporate fraud can go on for years, totally unnoticed. On a large scale where the numbers involved are quite greater, it makes the task of fraudsters easier, being capable of covering up their tracks with tax evasion, money laundering and also cooking up financial reports. In instances like these, you will need to hire a fraud investigator to set the records straight. Know More
Rescue your business before fraud ends it. To obtain more information about our Fraud investigation services, you can contact us through calls, texts & email.
Our services can help risk and fraud risk assessment teams:
Netrika firmly believes that, by assisting the entities in developing & establishing significant Fraud Risk Management Frameworks it can help mitigating most fraud risks and thefts.
As most organisations expand their business operations around the globe to procure and source product supplies from other countries, as well as expand their sales in emerging markets, the fraud and risk landscape threatens their endeavours. The recent increase in fraud cases and their sophisticated style suggests that even organisations that have a fraud and risk management framework in place are vulnerable to threats.
Fraud and risk management is a risk mitigation approach which encompasses a holistic view of understanding, identifying, analysing, and responding to fraud risks in a company. The strategy proactively studies the nature of potential risks and assists an organisation in taking relevant measures to control and mitigate them.
While it is not possible for businesses to eliminate the occurrence of fraud entirely, having robust fraud risk management and assessment strategies can detect potential vulnerabilities that can shape fraud incidents to disrupt an organisation's financial integrity and reputation.
The need for robust fraud and risk management stems from the fact that malicious actors are continually evolving their fraudulent tactics and becoming more elusive by the day. Moreover, the risk landscape has also increased the compliance requirements that need to be adhered to. Additionally, in the increasingly connected digital world, protecting the confidentiality of sensitive data as well as protecting business operations is paramount. Hence, a well-planned and executed fraud risk assessment & management is the ideal choice for organisations to keep their operations running up and high even through the disruptive business market.
Robust fraud risk management is synonymous with good business sense. Not only does it reflect an organisation’s readiness to scale and earn customer trust, but also includes a myriad of benefits-
With improved awareness and better governance, organisations leverage data analytics, best practices and technological risk mitigation measures to detect fraud risks at an early stage, contain their spread and secure most systems. With swift actions due to a fraud risk management strategy in place, businesses maintain their compliance with industry and legal requirements, thus improving customer loyalty.
Fraud risk management and assessment strategies also incorporate contingency planning as its integral part to ensure that organisations can continue their operations securely even in the face of crisis.
In the evolving business landscape, where fraudsters are keeping a close eye on an organisation’s vulnerable areas to penetrate and benefit from, the importance of having a robust fraud and risk management framework cannot be overstated.
Netrika Consulting is one of the best fraud risk management service providers, with decades of industry experience and a number of success stories on its plate. Our experts consider a robust fraud risk management framework as not just a precautionary measure but an essential strategy to protect an organisation’s integrity, financial standing, assets, and reputation and improve customer loyalty.
Whether it is insurance fraud, corporate fraud, financial fraud, identity theft, internal fraud, corporate slip or inventory fraud, Netrika is by your side with tailored fraud risk management solutions, a unique blend of intellectual expertise, cutting-edge tools and a conceptual approach to not just identity but prevent these costly errors by following a thorough fraud risk assessment protocol customised to individual instances.
Our key services include:
It is essential to identify the vulnerabilities to protect your entity or your organisation from all types of fraud. Our team of experts follows a sturdy fraud risk assessment protocol that includes the following methods:
1. Fraud Risks Assessment and Identification
Netrika follows a protocol that its team of experts develops meticulously. They include the steps for fraud risk assessment regarding operations, transactions, and the respective organisations' overall business model, policies and processes adopted.
2. Estimation of Fraud Risk Level
Risk quantification is essential; thus, Netrika uses the impact matrix to quantify the risk levels in High, Medium and Low categorys connected to the respective organisations' risk exposures and map the control gaps to provide independent insights to the management.
3. Fraud Risk Mitigation
After identifying the fraud risks, we suggest the topmost fraud risk mitigation strategies based on the industry best practices and international standards.
4. Review and Surveillance of Fraud Risks
Netrika focuses on developing sustainable processes to combat Fraud Risk in the future through its extremely collaborative models and projects that promote the transfer of skills and knowledge to the organisation's team members.
Fraud risk management is a holistic and proactive fraud mitigation approach that is embedded within an organization. A successful strategy requires robust internal controls plus investment in anti-fraud technology. It also needs to consider the current and future fraud landscape.click here
A fraud investigation is an examination of evidence to determine if someone deliberately deceived others to unfairly advance their own interests.click here
The fraud examination methodology establishes a uniform, legal process for resolving signs or allegations of fraud on a timely basis. It provides that fraud examinations should move in a linear order, from the general to the specific, gradually focusing on the perpetrator through an analysis of evidence.click here
A fraud consultant is a professional who provides expert advice and assistance to organizations on how to prevent, detect, and respond to fraud. They may work independently or as part of a consulting firm, and specialize in a specific industry, sector, or type of fraud.click here
Fraud risk management is built on the five principles of assessment, governance, prevention, fraud risk detection, monitoring & reporting to help businesses with the repercussions of fraud threat.click here