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Investigations
Credit Union Investigations into suspected fraud are often necessary. In the current economic climate the number of cases of fraud is increasing. Unfortunately as a financial organisation, Credit Unions are often targeted. The UK Government’s Cyber Security Survey found over half of organisations which hold personal data had a cyber security breach in the previous 12 months. At times such as these Credit Unions require forensic accounting services from an organisation that understands Credit Unions.
We have assisted a number of Credit Unions and other organisations through this difficult time. We have seen how these events can occur for both internal and external frauds. With over 20 years experience of the sector we have developed a detailed understanding of Credit Unions. This is crucial when carrying out a forensic investigation. We are therefore well placed to track how these incidents have occurred. Our forensic investigation work helped identify how the frauds occurred and by whom. Even more importantly we also advised on the implementation of new controls to prevent such a situation from reoccurring in the future. This is vital for the Board and management to start regaining confidence in the Credit Union’s control systems.
For a confidential discussion over how we can assist your Credit Union please contact us.
Steven Cunningham
Partner
sc@alexandersloan.co.uk