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What do you know about Corporate Fraud?

The Association of Certified Fraud Examiners (ACFE) report to the Nations for Y2018, reveals that:

  • $7 billion in total losses for Y2018

  • $130.000 median loss per case

  • 22% of cases caused losses of $1m+

  • Asset misappropriation schemes are the most common & least costly (89% of the cases)

  • Small businesses (up to 100 employees) lost almost twice as much per scheme to fraud (with $200.000 median loss)

  • Internal control weaknesses were responsible for nearly ó of frauds

  • Data monitoring / analysis and surprise audits were correlated with the largest reductions in fraud loss and duration

  • 80% of cases created fraudulent evidence or altered existing evidence

  • 63% of cases were detected by hotlines and reporting mechanisms

  • 53% of cases recovered nothing, 32% made partial recovery and 15% recovered all losses

Do you still believe that Fraud will not happen in your organisation?

Our expert investigating team, lead by our Managing Director, Mr. Christos S. Christodoulou, a Fellow Chartered Certified Accountant and a Certified Fraud Examiner with a wide experience in fraud investigations and expert witness reporting in various court cases, can provide you with the following anti-fraud services and fraud investigation and reporting services:


Fraud Prevention services:

  • Review all internal control procedures and report to the management or set up fresh internal control procedures and/or an internal control unit

  • Set up a hotline and whistleblowing reporting mechanisms

  • Evaluate fraud tips and whistleblowing reports

  • Design a Fraud Response Plan

  • Review or set up the/a Corporate Governance Framework and Best Practices manual

  • Prepare a Fraud Risk Assessment

  • Develop Fraud Awareness Training

  • Design a Fraud Risk Management Program

  • Implement an Anti-Bribery Management System based on ISO 37001:2016

  • Establish a Compliance Function as per ISO 19600:2014 - Compliance Management Systems Guidelines

Fraud Investigations and Reporting Services:

  • Incident Management: Assess tips, complaints, and whistleblowing reports

  • Fraud Investigations

  • Financial Forensic investigations

  • Reporting and testifying in court

Contact Christos Christodoulou

Thanks for getting in touch!

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