A fraud case is an investigation of alleged financial fraud or theft, which could be criminal or civil. The Association of Certified Fraud Examiners describes fraud as “any activity that relies on deception in order to achieve a gain.” In a fraud case, an individual is accused of wrongfully taking or using money or property. This could involve check fraud, mortgage fraud, insurance fraud, wire fraud, phishing, or hiring scams.
It is important to protect evidence during a fraud case. This includes locking up physical evidence and ensuring digital information is secure by encrypting files or using a case management platform with role-based access. It is also important to keep conversations and meetings with suspected fraudsters confidential.
During a fraud case, it is important to document all planned information-gathering approaches – records retrieval, interviews, and analysis. A comprehensive case log helps to guide investigators and demonstrates due diligence for the investigation report. It is also helpful to identify and engage internal/external specialists like forensic accountants or retired law enforcement as needed based on investigation requirements.
In a criminal fraud case, an individual is accused of wrongfully using or stealing funds or property and prosecutors must prove that they committed the offense beyond a reasonable doubt in order to win the case. The perpetrator is usually ordered to pay restitution to their victims and/or fines.