The presence of fraud is increasing and impacting the bottom line of many organizations. According to the Association of Certified Fraud Examiners, a typical business will lose 5% of its revenue each year to fraud. When Mark Santi, a Minneapolis-based attorney with JUX Law Firm, was approached by one of his clients who had concerns that he was potentially a victim of fraud in his business, Santi called on the fraud and forensics experts at Olsen Thielen.
Santi’s client was concerned that funds were being misappropriated out of the business, and wanted to gather evidence to support his case. “We needed an expert to do an analysis of thousands of banking records and identify suspicious patterns,” explains Santi.
Olsen Thielen’s fraud and forensic services experts have a unique set of skills which combine a knowledge of complex financial transactions with expertise in fraud prevention, detection and deterrence. They were able to examine the large amount of data quickly and provide the information that Santi needed in an easy-to-understand format. The reports were then used by Santi and his client during arbitration, which allowed the case to be handled more efficiently. According to Santi, “Olsen Thielen was efficient, responsive and professional. The work they did allowed me to do my job better.”
Olsen Thielen can assist businesses in not only identifying and calculating this type of fraud loss, but we can also work with management to implement strategies to reduce the risk of loss before it happens. Contact Olsen Thielen Fraud and Forensic Managers, Adam Hennen at ahennen@otcpas.com or Andrea Addo at aaddo@otcpas.com for more information on how we can help your firm.
