The '10/80/10' Rule
- 10% of any population (eg workforce montage example as above) will never steal
- 80% may steal if the opportunity is right (eg weak or non-existent internal controls; poor company culture; urgent need for money etc) and they think they won't be caught
- 10% of any population will steal regardless of the consequences
FIG Group's fraud prevention, detection and investigation services are designed to minimise the vulnerability businesses have to actual or would-be fraudsters.
FIG acts independently and objectively to seek out the truth of the matter. Often this involves sorting through large amounts of evidential material; carrying out relevant enquiries; unraveling and simplifying complex transactions; and interviewing witnesses, victims and offenders.
As a client you are regularly kept informed of the progress of the investigation. Once the investigation phase has been completed, FIG provides a comprehensive report setting out the findings of the investigation. The report also sets out the strategic options you may wish to pursue in order to reach a satisfactory overall conclusion - and which might include recovery of the proceeds of the crime from the perpetrator or other culpable parties; summary dismissal; civil or criminal proceedings for fraud, theft etc.
FIG Group Ltd has useful links to various law enforcement agencies such as the NZ Police; the Serious Fraud Office; the Financial Markets Authority; the Commerce Commission and other expertise including: barristers and solicitors specializing in civil fraud matters; dispute resolution experts and other relevant people and organisations throughout New Zealand.
FIG Group can also work closely with your in-house Employment Relations Dept to ensure the investigation process maintains a proper distinction between 'employment related' issues and potentially 'criminal matters'.
Most fraud goes undetected for more than 3 years, hence the saying ‘There is no such thing as a small fraud; there is only fraud that hasn't had enough time to grow’. As fraudsters are adept at concealing their tracks, it is often the people closest to the offender that are the most surprised when fraud is detected.
In most businesses it’s a fact that for every $10,000 lost to fraud, additional sales turnover of $150,000 is required to recover that loss. On a grander scale, that means a million dollar fraud requires additional sales of $15 million just to break even – and that’s why many businesses and innocent victims become crippled by the staggering cost of fraud.
FIG provides a range of fraud detection services that are conducted in a discrete, law-abiding and professional manner.
Using its expertise in investigation and accounting matters, FIG specializes in reviewing existing policies, procedures and internal control systems with a view to evaluating the effectiveness of the 'control environment' as a means for preventing or deterring fraud, and other forms of dishonesty, within the business.
Once the principal areas of vulnerability have been identified, FIG prescribes practical, innovative and cost-effective solutions to eliminate or minimize the client's on-going exposure to fraud. This in turn provides 'peace of mind' to shareholders, directors, managers and employees. It also sends a clear message to would-be fraudsters (and opportunist's from within the 80% category) that they will be caught, if they offend.