Businesses hit by fraud shouldn’t go to the police
According to figures from BDO Stoy Hayward there has been a 14% reported increase in corporate fraud in 2008. This is likely to grow as the recession deepens and fraud and its detection increases.
Upon discovering a fraud, quite often the first thing that a business considers doing is reporting it to the police. If a business wishes to recover the money it has lost, however, it should look instead to its civil remedies, and the very powerful orders which can be obtained to assist in the location, freezing and recovery of assets.
The primary motivation of the police in fraud cases is in securing convictions, and not in obtaining compensation for the victim. This is very much a secondary consideration and only occurs after conviction.
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