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Law Enforcement Investigation

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Question: 
We have decided should we have an internal embezzlement, we will just turn it over to law enforcement. Wouldn’t this be the best way to handle this problem?
Answer: 

Many institutions consider this the best way to handle internal fraud until it happens. Public image becomes the rallying cry when financial institutions realize law enforcement will be revealing they are handling a case at your financial institution. Management needs to control the situation, so your public image isn’t harmed by the ordeal. Knowing what happened, who was involved and what account holders may have been compromised will change their view of who should conduct the investigation. Management will want to know these answers to determine what actions they want to take before prosecuting the case with law enforcement. When law enforcement becomes involved, they will have to mirandize your staff being questioned. Something you may not have to do when conducting your own internal investigation.
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Learn more about Barry Thompson’s webinar 20 Internal Fraud Errors to Avoid

First published on 10/27/2019

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