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Strategic Considerations When Conducting an Internal Investigation

By Daniel Polatsek, Brian McCarthy, and Scott Woodworth

Workplace fraud is ever present, but in a bleak market, employees increasingly feel the financial pinch in their personal lives. Inhibitions are diminished by stark economic realities, and employees occasionally turn to theft, misappropriation and fraud. The headlines are full of fraudulent schemes both epic and small, from the massive Madoff pyramid scheme to employee theft of materials at the smallest level.

Workplace fraud falls into three general categories. “Asset misappropriation” includes fraudulent invoicing, payroll fraud, theft of trade secrets, confidential information and other intellectual property. “Corruption” is fraud that generally involves acceptance of a bribe, kickbacks through bid-rigging, or use of conflict of interest schemes to obtain an unlawful benefit. For example, where long-time and trusted employees retain favored third-party suppliers in return for kickbacks from those suppliers Falsification of “financial statements,” the third fraud category, consists of material falsehoods in financial statements, such as booking fictitious sales or taking expenses in the wrong period.

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