Fraud Investigations

Anti Corruption Consultants Australia

Anti Corruption Consultants Australia (ACCA) specializes in comprehensive investigative services, led by Mick Symons, an expert in managing and conducting various types of investigations. With a focus on areas like fraud, corruption, disciplinary actions, bullying, sexual harassment, and due diligence, ACCA is adept at navigating the complexities of legal procedures in evidence gathering, storage, and presentation.

Understanding the legal nuances of investigation methodologies is crucial. ACCA’s proficiency ensures that evidence is meticulously handled, adhering to proper procedures, thus preventing the risk of crucial evidence being discarded in legal forums.

Choose ACCA for reliable and legally-sound investigation services, guaranteeing evidence that effectively supports or refutes any claims.

The Impacts of Fraud

The Association of Fraud Examiners (ACFE) conduct regular global studies on occupational fraud and abuse. The 2022 report examined 2110 cases from 133 countries. There were losses of more than $5.45 billion (AUD).
The report highlighted:

Fraud will be undetected within your company for an average of 12 months and causes a loss of $8,300 a month

  • You will lose 5% of your revenue to fraud each year.
  • The median loss per case is $117, 000 with an average loss of $1,783,000.
  • 8% of fraud cases involved cryptocurrency-48% of these related to bribery and kickback payments, and 43% related to converting misappropriated assets. 
  • Corruption was the most common scheme across the globe.
  • Asset misappropriation schemes were the most common fraud scheme (86%) and least costly with a median loss of $100,000.
  • Financial statement fraud schemes were the least common (9%) but they were the most costly with a median loss of $539,000
  • 42% of fraud schemes were detected through a TIP. Most of the “tips” were from employees, others from external contractors and suppliers.
  • Lack of internal controls contributed to 29% of the cases while overriding existing controls contributed to 20%.
  • 85% of fraudsters displayed behavioural red flags of fraud.
  • Only 6% had a prior fraud conviction. 
  • Organisations with the fewest employees (SMEs) had the highest median loss of $150,000
  • Email and web-based reporting both surpassed telephone hotlines.
  • Asset misappropriation had a median loss of $100,000 but featured in 86% of the cases.
  • Corruption had a median loss of $150,000 featuring in 50% of the cases.
  • Financial statement fraud was the highest with a median loss of $593,000 but only featuring in 9% of the cases. 

Contact us for a free survey to help you identify if you are exposed to fraud.
Anti Corruption Consultants Australia (ACCA), spearheaded by Mick Symons, provides specialized investigation services in diverse areas such as fraud, corruption, code of conduct violations, bullying, sexual harassment, and due diligence. ACCA’s expertise is not just in conducting thorough investigations, but also in the legal intricacies of how evidence should be meticulously gathered, securely stored, and accurately presented in various legal forums.

The importance of following stringent legal procedures during investigations cannot be overstated, as it often determines the validity of the evidence. Many investigations falter and crucial evidence is disregarded due to procedural oversights. ACCA, with its profound understanding of these legal nuances, ensures that every piece of evidence is handled with the utmost care and precision.

Preliminary Investigations
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Major Investigations
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Years of Investigative Experience
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Think you might be a victim of fraud?

We have a FREE Fraud Health Check for Businesses. Click the link below, fill out the form to receive the survey.

How We Can Help

ACCA can assist you by reviewing and/or providing a fraud and corruption policy to deter fraud within your company.

Experience (and research) indicates fraudulent payments are a major factor in asset misappropriation. These include:

Workplace Bullying and Harassment Training
“We have worked closely with Mick on a number of projects. His extensive experience provides him with an impressive ability to quickly get to the heart of the issues in an investigation and produce results efficiently. His personable and professional approach to his work provides confidence and helps put clients at ease. He is a first-rate legal investigator”.
David Huw Williams
Ellerman Law

Invoicing (Billing schemes):

  • Shell companies to facilitate false payments
  • Vendors colluding with employees
  • Personal purchases billed against your company

Payroll Schemes

  • Ghost employees
  • Falsified wages including holiday and unjustified benefits
  • Commission schemes

Expense Reimbursement Schemes

  • False (mischaracterised) expenses
  • Overstated expenses
  • Multiple expenses

There are also issues with fraud with unrecorded and understated sales. Fraud can occur with false “write-off” schemes, false sales and shipping and procurement practices. 

In need of Assistance? Contact Us for a free consultation.

Please fill out the form below and we’ll get back to you to schedule a free initial consultation.

FREE Fraud Health Check for Small Businesses

Think you might be the Victim of Fraud? 

Fill out the form below to get sent our free survey that provides you with an indication of the potential vulnerability of your business to fraudulent activities.

    FREE Fraud Health Check for Businesses

    Think you might be the Victim of Fraud? 

    Fill out the form below to get sent our free survey that provides you with an indication of the potential vulnerability of your business to fraudulent activities.