Question

As a fraud examiner you need to be able to conduct an investigation.

how you would prepare an investigation for a case that involved hidden assets and unknown sources of income.   What specifically would you do in this case to prove that fraud occurred?

Answer 1

There are several steps to find the hidden assets and unknown source of income

a) Develop an investigation plan

Firstly when conducting fraud examinations for hidden assets examiner must develop a investigation plan . This will help examiners identify and organize the steps neccessary for the investigation

b) Begin Collect Information

To find the hidden assets the examiners need to begin collecting information about the people and assets involved. The basic information can be found in audit documents and accounting records. While collecting information some techniques may require legal authorization (eg., electronic surveillance)

c) Create a Subject Profile for Each Investigation Target

There should be a subject profile for each target of the investigation which include:

* Date of birth

* Place of birth

* Relevent email address

* Finger prints

* Criminal record search results etc.

d) Begin Profiling the Subject

Once the fraud examiner has begin collecting information. He should begin profiling the subject. Profiling will help organise and view collected information and which will later help in analysing.

e) Analyse financial records

Once of the fraud examiner has identified and organised further documents indicate ownership and profile the subject. The analysis should look for unexplainable changes in the subjects income, expenses, lifestyle etc.,

f) Conduct Interview

The examiner should begin conducting interviews with the people who might have information regarding the issue.

g) Trace the Assets

The final step is to trace the assets with the help of all the evidence and research done by the examiner.