The past few months have witnessed appalling stories of con artists who bilked billions of dollars out of people, business, and charitable foundations. These white collar thieves were not just in banking and on Wall Street; they were in health care, retail, oil and refining, military supplies and other fields. In short, the effects of these cons have been felt on every street in America and beyond.
Do these stories indicate that business crime has increased in recent years, or are we simply more effective in catching the perpetrators? Perhaps it is a combination of both, but these cases point to the importance of internal controls through due diligence and risk management.
Scherzer International (SI) has a proven reputation for accuracy, expertise, quality and speed in risk management. As part of a Risk Management Program we provide background reports with search strategies designed for each client’s risk level. Our highly trained research analysts review and summarize public records for both individuals and companies and deliver a comprehensive, easy-to-read report targeted on the client’s purpose of investigation.
SI’s trusted reputation was proven once again recently in two highly publicized cases involving fraud, money laundering and drug related crimes. Years before news broke on the cases; SI identified these individuals as a potential risk for two of our clients. Based on our reports, our clients (one a financial services firm and one an accounting firm) made the informed decision not to engage in business with these individuals. In one case, the subject of our investigation was arrested and convicted of drug related crimes, money laundering and involvement in organized crime. In the other case, the federal government charged the subject with illegal financial dealings, investments that could not be traced and altering financial records.
It is difficult to quantify just how much SI’s background report saved these companies in what could have been very costly and damaging decisions. What we can say is that our clients feel confident that we are an integral part of their Risk Management Program.
Your Risk Management Partner … Because Integrity Matters