The Times Herald Record recently published an article on Unemployment Insurance Fraud increasing due to the current status of the economy.Traditionally and statistically when the economy is bad, criminal activity increases. We here at Management Resources have seen a rise in our case load in the areas of worker’s comp and disability fraud, automobile insurance fraud and mortgage insurance fraud.
Insurance fraud is defined as a deliberate deception perpetrated against an insurance company or agent for the purpose of receiving financial gain.
Automobile insurance fraud directly affects all of us as consumers. The cost of the frauds are passed along to us in the form of higher premiums.
Corporations and businesses are in the same situation. They are forced to pay higher premiums due to Worker’s Comp and Disability Fraud. Is the employee who files a worker’s comp claim really hurt or out playing golf?
Sick leave abuse is now becoming a problem for those businesses that provide these benefits to their employees. Is the employee really sick or away on vacation?
Businesses of all sizes are at risk for fraud, whether by employees or outside sources.
According to the Association of Certified Fraud Examiners, American companies lose $660 billion dollars to internal fraud every year. A single incident of internal fraud costs the victimized company approximately $200,000. Companies with fraud awareness strategies in place reduce that loss by 50 percent or more.
- Money Laundering
Our Certified Fraud Investigators and Forensic Accountants can assist you with implementing Anti Money Laundering Programs to insure you company is in compliance with the Patriot Act and the BSA.
- Expense Account Fraud
Travel and entertainment fraud, credit card fraud and expense account fraud could be chipping away at your profit margin. Let us assist you in identifying this type of fraud and the employees committing it so you can focus on running your company.
- Due Diligence
We can provide due diligence investigations on companies you do business with, strategic partners or alliances and your employees. Let us gather the facts so you can make a well informed decision.
If you are a business experiencing any of these problems, please feel free to contact us for a free consultation. We can conduct a comprehensive, discreet investigation to determine if a fraud is taking place and take the necessary steps to remedy the situation. We will work with your insurance carriers or general council to provide them with the evidence they need to build a case against those involved.
Management Resources Ltd of New York is a professional investigative firm Licensed in New York and New Jersey. We are also licensed in Florida as Hudson Valley Protective Services. This blog is for our clients and friends in an effort to keep them abreast of our recent cases, investigative tools and techniques and emerging trends in our profession. We also welcome inquiries from potential new clients that may be contemplating hiring a Private Investigator, but have some questions or concerns about doing so. The investigators of Management Resources Ltd. of New York are here to assist you. Please feel free to participate.