Fraud Investigations

Fraud Investigations Services in Hampton Roads, Virginia Beach, Norfolk, Chesapeake, Portsmouth, Suffolk, Newport News, Yorktown, Richmond VA and more!

Beach Investigations also can assist you and your business in the education and training to prevent common fraud scams. Occupational fraud, a term covering internal fraud, employee fraud and theft, embezzlement, asset misappropriation, collusion, bribery and corruption, is a large problem for many companies and organizations. The Association of Certified Fraud Examiners estimates that organizations lose an average of 5% in revenue annually due to fraud schemes, equating to significant financial losses each year.


Companies and organizations must be proactive in their fight against fraud.  The implementation of internal controls is just one part of the preventative equation.


An effective fraud prevention program must include the following components:


  • Fraud education
  • Fraud investigation
  • Fraud prevention

Our professional staff combine years of experience investigating fraud, and developing effective fraud prevention programs in the U.S. and internationally.


Let our team assist you in investigating current loss and develop a comprehensive fraud prevention program to mitigate and prevent future financially devastating incidents.


These programs include but are not limited to:


Telemarketing fraud – When you send money to people you do not know personally or give personal or financial information to unknown callers, you increase your chances of becoming a victim of telemarketing fraud.


Nigerian letter fraud – Nigerian letter frauds combine the threat of impersonation fraud with a variation of an advance fee scheme in which a letter mailed from Nigeria offers the recipient the “opportunity” to share in a percentage of millions of dollars that the author of a self-proclaimed government official is trying to transfer illegally out of Nigeria.


Identity theft – Identity theft occurs when someone assumes your identity to perform a fraud or other criminal act. Criminals can get the information they need to assume your identity from a variety of sources, including stealing your wallet, rifling through your trash, or by compromising your credit or bank information.


Advance fee schemes – An advance fee scheme occurs when the victim pays money to someone in anticipation of receiving something of greater value, such as a loan, contract, investment, or gift,and then receives little or nothing in return.


Health care fraud/health insurance fraud – Durable medical equipment manufacturers often offer “free” products to individuals. Insurers are then charged for products that were not needed and/or may not have been delivered.


“Rolling Lab” Schemes: Unnecessary and sometimes fake tests are given to individuals at health clubs, retirement homes, or shopping malls and billed to insurance companies or Medicare.


Services Not Performed: Customers or providers bill insurers for services never rendered by changing bills or submitting fake ones.


Medicare fraud– can take the form of any of the health insurance frauds described above. Senior citizens are frequent targets of Medicare schemes, especially by medical equipment manufacturers who offer seniors free medical products in exchange for their Medicare numbers. Because a physician has to sign a form certifying that equipment or testing is needed before Medicare pays for it, con artists fake signatures or bribe corrupt doctors to sign the forms. Once a signature is in place, the durable medical equipment manufacturers bill Medicare for merchandise or service that was not needed, or was not ordered.


Letter of credit fraud – Legitimate letters of credit are never sold or offered as investments. They are issued by banks to ensure payment for goods shipped in connection with international trade. Payment on a letter of credit generally requires that the paying bank receive documentation certifying that the goods ordered have been shipped and are en route to their intended destination. Letters of credit frauds are often attempted against banks by providing false documentation to show that goods were shipped when, in fact, no goods or inferior goods were shipped.


Telemarketing fraud – If you are age 60 or older and especially if you are an older woman living alone you may be a special target of people who sell bogus products and services by telephone. Telemarketing scams often involve offers of free prizes, low-cost vitamins and health care products, and inexpensive vacations.


Ponzi schemes – Ponzi” schemes promise high financial returns or dividends not available through traditional investments.  Instead of investing the funds of victims, however, the con artist pays “dividends” to initial investors using the funds of subsequent investors. The scheme generally falls apart when the operator flees with all of the proceeds or when a sufficient number of new investors cannot be found to allow the continued payment of “dividends.”


Pyramid Schemes – As in Ponzi schemes, the money collected from newer victims of the fraud is paid to earlier victims to provide a veneer of legitimacy. In pyramid schemes, however, the victims themselves are induced to recruit further victims through the payment of recruitment commissions.


Counterfeit prescription – Be mindful of appearance. Closely examine the packaging and lot numbers of prescription drugs and be alert to any changes from one prescription to the next. Be aware that product promotions or cost reductions and other “special deals” may be associated with counterfeit product promotion.


Counterfeit goods – Counterfeit goods are goods infringing the rights of a trade mark holder by displaying a trade mark which is either identical to a protected trade mark or by using an identification mark which “cannot be distinguished in its essential aspects from such trade mark. Such items include designer purses, luxury watches, perfumes, and sports gear.


Funeral and cemetery fraud – Funeral homes are required to provide detailed general price lists over the telephone or in writing.  Be educated about caskets before you buy. You should know the difference between basic fees and professional services. Other areas you should be informed about cremations and embalming rules that are governed by the State of Virginia.  As a general rule govern all of your interactions as a consumer, do not allow yourself to be pressured into making purchases, signing contracts, or committing funds. These decisions are yours and yours alone.


Contact Beach Investigations

Fraud investigations are done by the professionals.

Our professional staff combine years of experience in fraud investigations within the U.S. and across the globe.

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