Insight of A Private Investigator (Corporate Security & Investigation Procedures)

In 2007, the U.S. economy entered a mortgage crisis that caused panic and financial turmoil around the world. The financial markets became especially volatile, and the effects lasted for several years (or longer). The subprime mortgage crisis was a result of too much borrowing and flawed financial modeling, largely based on the assumption that home prices only go up. It was a plain and simple case of poor regulatory supervision failure in compliance, internal audit and mismanagement of the banks. Greed and fraud also played important parts.

Investors took hits in the hundreds of billions of dollars and taxpayers were required to pay higher taxes to cover the bailouts. A few top executives were fired, but they’re not giving back their bonus money, even though all the profits the bonuses were based on have evaporated along with billions of dollars of market capitalization.

As a result of those follies, most companies are taking extra precautions when it comes to mismanagement and fraud prevention. Were these companies able to see the fraud in credit crunch coming? Did their existing risk management strategies not enable them to be ready when fraud struck? Why do most organizations remain complacent until disaster strikes? Fraud has always existed in organizations. If existing risk management strategies are not helping organizations to identify the risks that really matter, there is a need for change. FRAUD RISK ASSESSMENT could be the change you may have been waiting for. Unless it becomes part of the strategic planning process, organizations may continue to fail to recognize hidden dangers that lurk under the radar.

This is where CSI comes in. Set up back in 2006, the original aim was to address a gap in crucial skills set; the management of systemic risk which was clearly lacking during the credit crisis. We make it our mission to support organizations in their defense against fraudulent activities with no further strain to their battered financial status. We strive to outdo our competitors and even ourselves in fraud risk methodologies.

This aim could be achieved through understanding and the completion of our four key modules/programs:

• Fraud Risk Management (FRM)
• Systematic Risk Management (SRM)
• Financial Risk Management (FIRM)
• Digital Data Risk Management (DRM)

CSI World Headquarters is a professional membership-based, organization dedicated to advancing the techniques of big data, financial analysis and forensic investigation. This organization was set up to address a gap in crucial skills set; the management of systemic risk.

We achieve this through a two-pronged approach:

• Systemic risk management and setting up Fraud Risk Management (FRM) in organizations.
• Training professionals seeking to add value to their current skill set, thereby increasing contributions to the organization and marketplace. Our aim is to aid businesses in developing people with the right competencies and increasing the existing pool of competent industrial practitioners who can perform to international standards through a series of structured training programs.

CSI is the ancronym for Certified System Investigator. CSI is also an industrial recognition that CPAs, CFEs, and CFAs, among others, seek to be certified. The professional qualification enhances the individual’s ability to handle digital and data analysis more effectively, perform a preliminary level of fraud investigation using IT forensics tools and financial analysis skill set, spot deceptions at interview, reconcile documentation with interview aspects of the business, and stay current with the latest cutting-edge knowledge in financial analysis.

It should be noted that CSI Certification ‘DOES NOT’ seek to replace any of the existing professional qualifications but to complement them.