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The "field work" began with
a meeting behind a restaurant at midnight with an informant.
Preparation for the meeting involved several investigators covertly
assuring that the informant was not being followed or otherwise
observed. It was a fitting start to a most unusual "site
visit."
The most effective detection method
for identifying occupational fraud in a business is the tip by an
employee or others. Determining what to do with the tip is difficult.
In this case, the informant was an entry-level accounting clerk who had
first-hand observations and knowledge of a complex conspiracy among
several members of division management to defraud the company of
millions of dollars.
Strict Secrecy
Because of the level of potential
collusion the Board concluded that extraordinary measures must be taken
to conduct the investigation. They hired a retired Federal law
enforcement executive to lead the investigation with instructions to
maintain strict secrecy of the fact of the investigation as well as the
details and progress of the work.
Not sure of how extensive the
conspiracy scheme was, there was to be no communication with any member
of management or the outside auditors. In fact, all reporting on the
progress and conclusions of the investigation were to be reported to
the Chairman of the Board via his personal secure phone line or
in-person.
The secrecy of the investigation
presented several unique dilemmas (READ
ENTIRE ARTICLE).
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