Financial Fraud can be broadly defined as an intentional act of deception involving financial transaction for the purpose of personal gain. Fraud is a crime and it is also a violation of civil law. Financial fraud can also be defined as deliberate act of dishonesty involving financial transaction for purpose of personal gain. Financial literacy is the ability to understand how money works in world. How someone manages to earn and then how he or she invests it and so on & so forth. That is why many financial fraud is also known as “White Collar Crime” . This is the reason many fraud cases involve complicated financial transactions conducted by white collar criminals such as business professionals with specialized knowledge and criminal intent.
Many times it has also been experienced that investment brokers may present a very lucrative picture to his clients with an opportunity to purchase shares / bonds of an X Company and projects the return as double of the investment in shortest possible time. His status as professional gives him that credibility. Those who believe the opportunity to be legitimate contribute substantial amount of cash and receive authentic looking bond document in return. If the investment broker is fully aware that no such repositories exists and still he receives payment for worth less bonds then it is one of the fastest growing frauds and victim may sue him. In India such crimes keep taking place very often and such criminals with their knowledge and loophole in the system try to manipulate the facts and also indian courts take very long time to settle such matters or bring the culprits to justice.
Many times when financial frauds take place within the company, those employees who handle finance of the company are treated as key employees who possess all the inside information about hence they are the most trustworthy employees of the management hence whenever any Financial Fraud takes place generally management avoids confronting them because they usually know too much . NDCC generally uses different methodology for different situation to nail down the culprits.
One of the most unsavory aspects of globalization and a growing economy is the aspect of white collar crime in every industry, and in every aspect of the business world, there is a potential for a financial fraud every where. Once the risks have been identified NDCC has complete team of professional including Chartard Accountants, Forensic Accounting professionals, Lawyers who work day and night to carry our Financial Fraud investigation to zero down the person/ persons involved in that Financial Fraud and once that is pinpointed NDCC is also equipped to guide what action should be taken thereafter.