What Fraud Investigator actually do?

On March 15, 2014, in Blog, Investigation, by sieditor

 The life of an ordinary fraud investigator isn’t anything like on television or movie. There aren’t late night siren or arresting bad guys. you don’t need to be Sherlock Holmes and john watson but it wouldn’t hurt to conduct your inner detective. Fraud investigation are a lot of work, but can take your investigation from ho hum to awesome. wisegeekedu shows us on what really Fraud Investigations do.
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A fraud investigator is an expert who evaluates the circumstances of a case of suspected fraud or suspicious behavior to determine if fraud occurred and make recommendations on which steps to take next. These professionals may work for banks, law enforcement agencies, professional organizations, or insurance companies. Some are freelancers who contract out their services on request to various employers. This work can be highly diverse and usually involves travel as well as opportunities to interact with a variety of individuals.

Companies can call upon a fraud investigator in several different situations. Sometimes a member of the public files an accusation of fraud, and the investigator may follow up on it, collecting information, interviewing witnesses, and making recommendations about whether to proceed with prosecution or punitive action. Fraud investigators working for law enforcement agencies, and attorneys general are most likely to perform this kind of investigation.

In other cases, a situation appears suspicious and a fraud investigation will be necessary to get the facts. An insurance company, for example, does not want to pay out on a fraudulent claim, and in the event a claim is false, it wants evidence it can use in court to sue the claimant for damages. The fraud investigator comes in whenever red flags suggest that there may be more to a situation than meets the eye. She evaluates internal documentation, interviews witnesses, and visits sites to collect information first hand.

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