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Litigation: Dealing with financial fraud

To deal with fraud, you must understand how to detect and identify it first.

Financial fraud is one of many issues in-house counsel sometimes have to address as part of an organization’s overall legal and compliance team. Handling it efficiently and appropriately can be the difference between major losses and full recovery.

According to the most recent estimates from the Association of Certified Fraud Examiners, a typical organization loses 5 percent of its revenues each year. Applied to organizations across the globe, that corresponds to a potential projected annual loss of over $3.5 trillion. The median loss for so-called occupational fraud–use of one’s occupation for personal enrichment through misuse of the organization’s assets–is approximately $140,000, with more than one-fifth of the cases having over $1 million in loss.

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Ty Howard

A former Assistant U.S. Attorney, Ty E. Howard is a partner in the white collar defense and litigation practice groups at Bradley Arant Boult Cummings...

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