August 2012

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What a Fraud Perpetrator Looks Like
Where Fraud Happens in Your Business

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August 24, 2012 - Palm Beach County Justice Association Luncheon Sponsor, Bear Lakes Country Club


October 27, 2012 - Palm Beach County Bar Association 4th Annual Family Picnic, Dreher Park, West Palm Beach


November 2012 - Palm Beach County Bar Association Flower Sponsor of the Month, celebrating the Bar's new building



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We bring you confidence through information.

Our job is to provide you the information you need. Whether it's through our investigative services or through our informative newsletters, we want you to have the latest and current information. In this edition, we have addressed two subjects: What a Fraud Perpetrator Looks Like and Where Fraud Happens in Your Business.  


We encourage you to share our e-newsletter with others in your sphere of influence.





Your Team at Complete Legal Investigations




What a Fraud Perpetrator Looks Like   


You have probably heard that the best defense is a good offense. That is true in many sports, and it is true in fraud prevention, as well. You cannot protect your business from fraud if you don't know what fraud "looks like." Fraud occurs in Florida and every other state in the nation. Although the specific details vary from one industry to the next and from one business to another, there are significant commonalities among fraudsters that you need to know in order to spot signs of potential fraud before it destroys your business and your reputation.  


For example, according to the Association of Certified Fraud Examiners 2010 Report to the Nations, gender makes a difference. In every reporting region, males perpetrated occupational fraud more frequently than females - 57.2% of occupational fraud committed by males and 42.8% by females. And although the frequency of fraud by male and female perpetrators is the same in the position of employee, the rate of fraud by males is "higher" than that of females in the position of manager and "much higher" for owners/executives. Males trump females in the amount of financial loss of fraud, too, with male-perpetrated fraud averaging $232,000 per scheme and female-perpetrated fraud averaging $100,000. Does this mean that you should be suspicious of every male employee and officer in your business?


Additionally, there is a strong correlation between the perpetrator's position of authority and the ... Read More 



 Where Fraud Happens in Your Business   


Fraud can happen at any level in any department of any business, and it does -- every day. When it comes to protecting your business from fraud, you are your own first line of defense. You need to be aware of the departments that most commonly house fraudsters and the schemes that are most commonly perpetrated within those departments. Arming yourself with this insight will help prepare you to recognize early warning signs of fraud.


According to the Association of Certified Fraud Examiners 2010 Report to the Nations, more than 80% of the fraud reported in the study was committed by individuals in six departments: accounting, operations, sales, executive/upper management, customer service and purchasing.1 The frauds in these six departments accounted for 95% of all fraud loss reported in the 2010 study.

Accounting comprised both the highest percentage of incidents of fraud (22%) and the highest median loss reported ($180,000). Check tampering is the most common fraud scheme in the Accounting department, reported as 33.2% of 367 cases. The second most common accounting fraud involves billing, at 30.8% of cases reported. The accounting department is not the only place fraudsters like to work and hide. Operations accounted for 18.0% of reported frauds, with a median loss of $105,000. Corruption was the most commonly reported scheme in the Operations Dept., at a rate of 30.8%. The second most common was billing (22.1%).

The Sales department and Executive/Upper Management were tied for frequency of fraud at 13.5%, but it is obvious that the higher a person climbs up the corporate ladder the more lucrative their fraud can be. The median fraud loss perpetrated by the Sales department, $95,000, seems like child's play when compared to the median loss from
... Read More 



About Us
At Complete Legal Investigations, Inc., we help our clients eliminate uncertainty by understanding the issues confronting them. We conduct interviews, research, and forensic analysis to clarify disputed facts and identify potential solutions.

Complete Legal Investigations, Inc. is comprised of talented and experienced investigators and researchers with over 80 years' combined experience in the legal system. Our staff is bilingual and comprised of former federal and state investigators, Certified Legal Investigators (CLI), Certified Fraud Examiners (CFE), and a Certified and Florida Registered Paralegal (CP). Working as a team, we provide an adjunct staff that works cooperatively with your law firm or business, so that you can offer your client the very best legal representation.  Learn more


Contact Us:
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Tel 561-687-8381
Fax 561-687-8389

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