Protect Your Business from Fraud: $6 Billion Annual Loss in New Zealand

New Zealand businesses are losing a staggering $6 billion annually due to fraud, highlighting the importance of robust internal controls and procedures to prevent and investigate such crimes.

Why Businesses Are at Risk

Business fraud can occur through poor internal controls, lack of segregation of duties, and inadequate monitoring of financial accounts. This can result in significant financial losses and damage to a company’s reputation.

• Common Fraudulent Activities: Business fraud can take many forms, including:
  • Falsified invoices
  • Overpayment of funds
  • Procurement fraud

The Risks for Individuals

Individuals are also vulnerable to fraud, often being deceived or duped into providing false information or acting on false documents, leading to financial loss.

Expert Fraud Investigation Services

Omega Investigations offers expert fraud investigation services to help businesses prevent and investigate fraud. Our team of skilled investigators:

• Analyze documents, including bank statements and false documents
• Gather evidence from various sources
• Interview witnesses to identify anomalies and uncover the truth

We have experience investigating a range of cases, including business frauds, employee fraud, and scams.

Our Capabilities

Our investigators are highly experienced former UK or New Zealand Police Detectives who:

• Recover lost funds
• Provide counter-fraud advice to minimize losses
• Work closely with forensic accountants, computer forensic experts, and lawyers to obtain and secure evidence, seize assets, and prosecute when necessary

We also provide asset search services to establish whether perpetrators have hidden assets that can be frozen or seized. Our global network of associates allows us to trace assets in multiple countries.

Protect Your Business from Fraud

Protecting your business from private sector fraud should be a top priority. While it’s impossible to anticipate and block all potential incidents of fraud, there are many ways companies can protect themselves.

• Simple Steps to Protect Against Fraud:
  • Implement robust internal controls
  • Monitor financial accounts regularly
  • Train employees on fraud prevention and detection

Recent Examples of Fraud Cases

Recent examples of fraud cases in New Zealand include:

• A company employee booking products from a supplier for personal gain
• An accountant falsifying invoices to pay funds into their own bank account
• An email scammer obtaining an accounts employee’s password and transferring large sums of money overseas

Current Frauds Targeting New Zealanders

Current fraud scams targeting New Zealanders include:

• Phishing attacks
• Investment fraud
• False invoices
• Email scams
• Employee frauds

Omega Investigations is committed to helping businesses prevent and investigate fraud. Contact us today to learn more about our fraud investigation services and how we can help your business stay safe from fraud.