FBIS, Experienced Forensic Accounting and Fraud Investigation For Atlanta And The Nation
Fraud can take many forms. For the average business owner, it can endanger the business. For the corporate or financial institution, it calls into question a brand or reputation. Yet, for everyone, fraud’s most devastating effect is its impact on trust. At FBIS, we understand the important role forensic accounting and fraud investigation plays for companies in Atlanta, the South, the nation, and the globe.
For the everyday person trying to build financial security for themselves or a family, when a financial institution commits or becomes a victim of fraud, the loss of trust can be frightening. Questions like, “Is my retirement safe?” or “What happens if the bank closes, how will I get back my savings?” come into play.
And when you consider that most earners are living paycheck to paycheck in the current unstable economy, fraud can be crippling. The thought of a financial institution as large as Silicon Valley Bank (SVB) failing can create panic and distrust in the financial and banking industry as a whole.
Accused of hiding large losses from bank regulators, investors, and depositors, Silicon Valley Bank made several poor, if not criminal, decisions leading to what many have termed “an old-fashioned run on the bank,” essentially leading to the collapse of SVB. On March 10, 2023, bank regulators shut down SVB, in light of which has become known as the second-largest bank failure in United States history.
While many may ask how such a large case of corporate fraud could go so far without notice, it is more alarming when you see the statistics for the nation. Recent studies from the Journal of Financial Economics and other institutions have magnified some disturbing statistics.
Did You Know…
- That an Estimated Average of 10% of Publicly Traded Companies Commit Securities Fraud Each Year.
- That Only About One-Third of Corporate Frauds Are Detected.
- That Smaller Businesses (less than 100 employees) Often Experience Higher Losses of around $150,000 Per Incident.
- An Estimated 5% of Revenue Is Lost Each Year To Fraud.
- Corporate Fraud Consumes An Estimated 1.6% of Equity Value Each Year.
Read More About Silicone Valley Bank Now…
Forensic Brothers Investigative Services, The Experienced Forensic Accounting and Fraud Investigation For Atlanta And The Nation
At Forensic Brothers Investigative Services, we understand the monumental repercussions fraud can have on any company of any size. As experts in all forms of fraud detection, we help clients to investigate and document fraud leading to better chances of conviction and restitution.
We are led by Tony Smith, the founder and principal agent at Forensic Brothers Investigative Services. Tony served as an FBI Special Agent for 25 years after working in a public accounting firm as a CPA. Leading a fierce team, we leave no stone unturned and are experienced in investigative services that the average accounting team is untrained and unqualified to detect.