Hit fast, hit hard fast, Make the fraudsters pay

Gary Miller may be contacted on tel: +44 (0) 20 7440 7000; email: gary.miller@mishcon.co.uk

Fraud investigation is costly but it can also be highly profitable. Although the principal aim may be to recover stolen assets, money or data, the scope to earn a substantial positive return on investment (ROI) through judicious management of case work should not be overlooked, says Gary Miller of lawyers Mishcon de Reya: “If you’re able to convince management that investigating fraud can operate as a revenue centre then you’ll be given a very different reception when you ask for funds.” Senior management generally have about a “three-month window”, he reflected, after which “the impetus is gone and the finance director will start breathing down your neck, saying something along the lines of ‘We’ve already paid out between £50,000 and £60,000. It’s time to close down the investigation and turn it over to the police.’” The same attitude, but fortunately also the countervailing response he recommends, applies to counterfeiting and theft as well as to fraud, said Mr Miller.