What to do when fraud is suspected?
Don’t be a victim call Sage Investigations, LLC at 512-659-3179 for help and advice.
Why?
Sage has detected and investigated fraud through the use of “SKEET” – Skill, Knowledge, Education, Experience and Training. SKEET has been gained through investigating matters for 40 years as a federal agent, accountant, and private investigator.
Using the Fraud Triangle and Fraud Diamond concepts the forensic accountant can identify, investigate a matter and put an end to the fraud and head off the resulting problems.
Prior to 1980 and the advent of the computer it took financial investigators months, to analyze records manually and create spreadsheets on paper. Today with the use of PDFs, OCR, Database objects, Timelines, Excel and Word the investigator can analyze volumes of data in a shorter period of time allowing the investigator to do more investigation.
Two main factors determine your technique including the amount and type of data received for analysis. Linking financial transactions, documents and testimony to the elements of the offense, i.e. Theft, can prove or disprove the allegations.
Studies have found that there are accidental fraudsters, those who commit fraud by accident in dealing with the accounting system or predatory fraudsters, those who are focused on learning the accounting system to deliberately organize and take advantage of the accounting system. They are generally experienced in fraud and confident in dealing with management and auditors.
Sage Investigations uses proprietary software named “DIO” from Cynic, Inc. DIO is short for Diogenes who with his lantern was in the search for the honest man. Sage searches for the honest man by reviewing financial business transactions from Divorce and Bankruptcy matters to Ponzi schemes and Money Laundering. With the use of artificial intelligence and fuzzy search capabilities, standardization of data for sorting is not as important. Identifying usual amounts, by payee, date, frequency and nature of the transaction can be extracted. QuickBooks and similar accounting software data can be extracted and uploaded to the DIO database for analysis. The audit trail in QuickBooks can be used to ferret out specific questionable transactions which are invaluable in proving theft and embezzlement cases.
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