Fraud involves deliberate deception for gain and is a civil wrong as well as being a criminal offence, so as well as leading to a criminal conviction, the defrauded person or organisation can also sue the fraudster to recover their losses.
The fact that fraud is both a criminal offence and can lead to civil action for restitution means that the best approach to dealing with a case of suspected commercial fraud can vary a great deal.
The most important thing to do if commercial fraud is suspected is to take legal advice fast. Stopping any losses promptly is of paramount importance, but a misplaced allegation of fraud can have disastrous consequences, so a very sure-footed approach is essential.
Whether you have suffered a fraud or been accused of one, Selachii has the expert knowledge and experience to protect your interests in the strongest possible manner.
Commercial fraud can affect companies in many ways.
Insider frauds (Case study)
Most frauds are 'insider frauds' that are perpetrated by people within the business, using their position of authority or access to accounts etc. to commit their deception.
A typical fraud is to set up a false supplier account and then pay fictitious invoices from the fake supplier.
With insider frauds, there is a delicate path to tread in terms of obtaining the evidence necessary to prove the deception, making sure that a false accusation is not made and safeguarding your assets.
We can advise you step by step on the best course of action to take.
Outsider frauds (Case study)
Although somewhat less common, 'outsider frauds' are often more serious than insider frauds, as the latter often involve small amounts over a long period and the former are often 'one-offs' for much larger amounts.
Good fraud prevention is clearly the essential. However, in the event that a fraud is uncovered, the need to safeguard assets, prevent further losses and collect evidence is paramount. This may require swift action to trace the whereabouts of the assets extracted by the fraud.
Frauds are often complex and dealing with the legal issues of fraud cases demands experience and expert knowledge.
How Selachii Can Help
Fraud is an issue that demands extreme tact as well as often needing great doggedness and attention to detail. We don’t believe in simply handing out one-size-fits-all solutions to problems. We will focus on your specific circumstances before working out the best and most cost-effective way of helping you achieve your aims.
Selachii is a dynamic litigation law firm based in Kensington, London. We put the best interests of our clients at the heart of everything we do. We work with both businesses and private individuals, giving them legal advice and support which is unique to them and their situation.