Friday, June 3, 2011

Understanding the Duty of a Fraud Investigator

There is no place in the world without frauds. A fraud is deceitful conduct designed to manipulate the other person to give something of value. Today's world has become more habituated to experience different kinds of frauds. A fraud investigator is involved in dealing with these frauds.

Fraud investigators respond to questions of purposeful misrepresentation leading to illegal use of identity, intellectual property or money. They may work for government agencies, financial companies, commercial industries, service organizations and private organizations. They may even work as private investigators on a contractual basis.

Their duties include all the areas of a fraud investigation. The initial duty of fraud investigators is to check if the fraud had occurred or not. They gather the details of fraud from the concerned people and conduct interviews with clients and other people related to the case. They, then, conduct background checks on the suspected person or organization, accused of fraud. Criminal and civil records, bank records and many other things are to be checked by them in the process of investigation. Sometimes, it is necessary to conduct surveillance investigations, especially during insurance investigations. They also need to perform research on backgrounds, laws, case histories, penalties and so on. As a part of the job, they may coordinate operations with law enforcement agencies on the local, state or federal levels. Special reports have to be prepared by them on the investigation process to submit to the clients. So, a fraud investigator's job includes much research work associated with many risks.

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