Financial Investigations
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It is an established fact that during times of recession that fraud increases. It is equally true that when the chips are down that disputes and distrust between parties can result in uncharacteristic behaviour on the part of otherwise reasonable people. Click here to view video interview on Asset Search and Corporate Fraud. |
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Investigations Fraud Losses  |
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RMI History:
RMI is in existence for some 20 years. We have
conducted many of the major corporate
investigations cases which have come to light in
recent years.
Our People:
Our people come from specialist sections of
An Garda SÌoch·na and Defense Forces who
have themselves conducted most of the major
investigations in Ireland over the past 20 years.
Recent RMI Experience: Fraud
Significant shrinkage in a manufacturing facility
which persisted despite previous internal
investigations. In addition to covert investigations
RMI investigators also undertook a number of
lifestyle reviews and compared losses with periods
of leave taken by people. The workforce was
tightly knit which whilst a problem initially also
lead to the identification of the principal architect.
After tactical questioning a senior member of
management took retirement on age grounds
which coincided with a conclusion to the problem.
Fraud and Loss Prevention
It is an established fact that fraud increases
during recessionary times. Ordinarily law
abiding citizens can sometimes be tempted
to deviate from the law when under financial
pressure. Temptation ranges from exaggerating
expenses, staging accidents for the purposes of
insurance claim, provision of information to third
parties, diversion of product to third parties etc.
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RMI Services Include:
Fraud vulnerability assessment around critical
roles and functions. This review will depict
credible fraud scenarios and assess the
efficacy of your existing controls around them.
Fraud Prevention Program
Including:
Confidential reporting by staff using RMIís
Whistleblower Confidential service. This service
addresses a wide range of loss prevention issues
from health and safety to suspicion of wrong doing.
Random lifestyle reviews
The benefits of a well constructed fraud
prevention program are all too often not fully
appreciated by management until a major loss
event occurs. Fraud and loss prevention is
without doubt less expensive than post
event investigation and recovery. Most of
the cost of delivery is comprised of management
time required to consider potential solutions to
vulnerabilities presented by RMI risk consultants.
Recent RMI Experience: Sabotage
Management fears that a major restructuring
would be hampered by sabotage of critical
plant. RMI assessed the situation and installed
undercover operatives. Feedback allowed
management to both revise their plans as well as
take risk management steps to protect critical areas.
Where you have a suspicion or fear of loss
RMI can investigate the nature and extent of
the problem. Evidence gathered is presented
within the requirements of employment
law and criminal proofs of evidence.
RMI Services Include:
• Covert surveillance
• Agent insertion i.e. undercover assignment
• Evidence assessment and handling.
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| Investigations and Pre Transaction Due Diligence: |
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Recent RMI Experience
Post Transaction Investigation:
1. The parent company of a new acquisition
became concerned when post acquisition
integration issues began to surface.
A full legal and financial due diligence
had been undertaken of the European
entity which was acquired. RMI discovered that
the acquired company had been falsely
constructed for the purposes of committing a
substantial fraud. Had an advance due diligence
been undertaken as advised by RMI it would
have revealed that principals were both known
to Police and had falsely presented their
personal credentials.
2. Post acquisition concerns resulted in RMI being
called in to investigate. A lengthy investigation
involving both physical and digital surveillance
uncovered the creation of a shadow company
by senior management. Business was being
diverted to the shadow company and tens of
millions saved following RMI interdiction.
RMI Services Include:
• Pre Transaction due diligence into new
acquisitions, markets and business partners
• Digital Forensics and e-discovery
• Asset search
• Brand protection/anti-counterfeiting
Loss of Company Information
People who fear loosing their jobs, or have
lost them, are vulnerable. Approaches
from competitors and strangers engaging
in conversations justifying the taking of
company information is not uncommon.
Similarly people can distort or leak information
to third parties including the press when
they feel either aggrieved or threatened.
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RMI Services Include:
• Training of trusted HR and IT staff in actions to
be taken in the event of redundancies, dismissals,
departure or resignations
• Digital surveillance inclusive of key logging,
website monitoring, internet activity
(retrospectively or in real time)
• Technical surveillance countermeasures /
De-bugging: undertaken by professionals.
Employee Screening
It is not uncommon for people to present
inaccurate personal details. In some instances
we have discovered people who, but for
background checks, were about to receive offers
of employment. Such people are a danger to your
organization and you need to guard against them.
RMI Services Include:
• Pre-employment screening to confirm
personal details, qualifications, past
employment history and references
• Advanced background checks on people holding
sensitive positions. RMI has been involved
in many of the headline stories which have
dominated the news in Ireland over the past
decade. A lot can be done to reduce your risk.
If you feel vulnerable RMI can assess your
situation and devise course of action.
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For more information on how RMI can help your
company call or email us on +353 1 403 8700
or email: investigations@rmi.ie
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