Internal & External Fraud

5 percent of revenues are lost due to fraud, or 800 Billion USD worldwide, as recent studies show. If losses go unchecked, they can rise quickly. Large losses can also diminish investor confidence, which may cause negative brand publicity. Fraud losses even increase the odds of regulatory scrutiny which can often lead to fines, sanctions, and penalties.

The International Trade Council can assist your organization with all areas of internal and external fraud.

Forensic Accounting and Financial Investigations

The International Trade Council is available to assist organizations in responding to investigations involving book keeping and finance reports. We respond efficiently and confidentially to protect business reputations and assets, prevent repeat occurrences by creating effective systems, and resolve matters with little impact to the business. 

Fraud Monitoring Technologies

International Trade Council experts are available to assist you in implementing automated fraud detection systems. These systems analyze a multitude of information, including vendor information, to discover unusual or suspect patterns of behavior in real time. When a possibly fraudulent item is uncovered, management will be alerted for follow-up and remediation.

Helping Establish & Staff Employee Hotlines

Having an employee hotlines can dramatically increase a business’ skills in detecting and preventing fraud.

The International Trade Council can help your organization establish and run these hotlines, as well as creating procedures and policies to make sure they are implemented correctly.

Other Services

The International Trade Council can help organizations resolve multifaceted fraud problems with the following fraud consulting services:

  • Assessment of fraud/organizational staffing models
  • Evaluation of fraud detection and analysis tools
  • Reviewing and improving fraud controls, and creating new ones when needed.
  • Fraud prevention/detection/communication strategies
  • Fraud internal controls & fraud risk assessments: prevention, mitigation, detection
  • Identification of revenue loss and data theft zones
  • Revising policies, processes and procedures: mitigate civil litigation, regulatory application, and criminal actions
  • Protecting against internal and external brand injury, customer discontentment and poor publicity
  • Providing front line personnel with anti-fraud training: increase awareness and effectiveness of fraud risk management strategies
  • Conducting “gap analysis” reports in anti-fraud policies, processes, programs and controls: developing customizable fraud risk mitigation solutions and effective implementation strategies
  • Fraud compliance, regulatory strategies and fraud audit development/review
  • Reviewing and evaluating anti-fraud response plan and implementing actionable risk mitigation steps to reduce fraud losses
  • Implementing “lessons learned” program to avoid re-victimization and additional losses
  • Evaluating anti-fraud metrics, providing revised procedures and data capture endorsements where necessary to escalate fraud performance and ROI
  • Creating law enforcement liaison programs and improved exploratory methodologies to build unit and company anti-fraud ROI and enhanced processes where deficiencies have been identified.
  • Reviewing and evaluating anti-fraud response plan and implementing actionable risk mitigation steps to reduce fraud losses