Economic Crime: 55% of Cases Are Detected

Social Media as Background Check? Not Always Helpful for Screening Job Applicants.

With the increasing digitalization and interconnection of personal data, it has become easier for large companies and prospective employers to partially carry out a classic task of the Aaden Economic Detective Agency Munich themselves: investigating the backgrounds of applicants beyond their resumes and interviews to safeguard against potential future problems (candidate screening).

 

A few years ago, before Facebook, Instagram, and similar platforms, this would have been almost unthinkable. Previously, companies relied primarily on resumes, personal judgment, and references from prior employers. Today, candidates can sometimes be excluded from the hiring process solely due to compromising online behavior. While online research can prevent hiring, for example, an accountant who frequently parties during sick leave or a secretary who posts disparaging comments about her boss, this preventive measure offers little protection in cases of industrial espionage or other forms of economic crime. Consequently, the workload for our detectives in Munich remains substantial.

56% of Economic Offenses Are Committed by Employees – Often Long-Term Staff

According to the PwC “Global Economic Crime Survey 2014,” conducted with 5,000 companies in 95 countries, more than half of all economic crimes are committed by employees, often long-serving ones; only 40% involve external perpetrators. Unsurprisingly, over half of the surveyed executives fear corruption and bribery within their own ranks the most – and rightly so, as these offenses account for about a quarter of all recorded economic crimes. Globally, the statistics show that in Africa, every second company is knowingly affected by economic crime or has been in the past; followed by North America at 41% (where Aaden Economic Detective Agency is occasionally active), Eastern Europe at 39%, and Western Europe at 35%. Thus, more than one-third of companies in Western Europe have experienced at least one instance of economic crime. The actual numbers are undoubtedly higher. About half of all offenses occur in the financial sector, followed closely by trade and consumer services – both crucial sectors in Bavaria and for our detectives in Munich.

 

The largest share, 69%, of these company-damaging offenses results from disloyalty and embezzlement of corporate property. Too often, these crimes are discovered too late to prevent them. Deploying Aaden Corporate Detective Agency Munich often enables damage control, as court-admissible evidence can lead to claims for compensation.

Up to $100 Million in Annual Damage per Company Due to Economic Crime

Economic offenses such as disloyalty and embezzlement, procurement fraud, bribery and corruption, cybercrime, and accounting fraud cause financial losses of $1 to $100 million for one in five companies. These crimes go far beyond the more frequent, often trivialized offenses like faked sick leave. Beyond financial losses from industrial espionage or other forms of economic crime, employee morale is also at risk: 31% of affected business owners fear a decline in workforce motivation, not to mention negative effects on business relationships and potential long-term damage to professional reputation.

 

Therefore, early deployment of Aaden Commercial Detectives Munich is always advisable—not only to limit damage after the fact but also to detect perpetrators in planning stages and prevent any harm to the company: +49 89 7007 4378-0.

Aaden Corporate Detective Agency Munich Uncovers Spies and Other Offenders

In cases of detected industrial espionage or embezzlement, the work of Aaden Economic Detective Agency Munich often begins simultaneously – or ideally even earlier, triggered by justified suspicion toward an employee. The agency’s detectives monitor the behavior of suspicious staff members and document it in a manner admissible in court. This may include, among other measures, examinations of office computers and desks (for example, in cases of suspected misuse of company resources) as well as surveillance of the individual concerned. These measures help determine whether the suspect is passing internal company information, sensitive data, or material assets to competitors, the press, or other unauthorized third parties.

 

Such was the case at a well-known Bavarian company, where detectives from Aaden Detective Agency Munich, after a week of surveillance, caught a long-trusted employee in flagrante while handing over a USB stick containing confidential company data and sensitive internal structures to a competitor’s employee. The meeting was documented, and the evidence gathered by our economic detectives was so compelling that the employee had no choice but to concede and seek an amicable settlement with his now former employer.

Cybercrime – A New Threat in the 21st Century

Companies can protect themselves not only from fraud, embezzlement, and espionage, but also from cybercrime by engaging Aaden Economic Detective Agency Munich, as approximately one quarter of economic crimes are committed online. Through a wide range of methods (email tracking, implementation of security systems to protect against hackers, viruses, and trojans, as well as IT forensic investigations), disloyal employees and criminal competitors have fewer opportunities to harm a company without consequences.

 

If you have questions regarding the prevention of computer-related crime, the IT specialists at Aaden Detective Agency Munich will be happy to advise you: info@aaden-detektive-muenchen.de.

Companies Are Not Defenseless – Prevention Is Better Than Remediation

If there is already an initial suspicion, it can be examined through a targeted deployment of our private detectives in Munich, which can play a crucial role in preventing damage to a business. Even disproving a suspicion through the work of our investigators has positive effects – particularly on workplace atmosphere and the internal trust between employer and employees.

 

Fortunately, the PwC study revealed not only the alarming percentages of affected companies mentioned above, but also that 55% of economically motivated crimes are detected and resolved through internal controls – compared to just 36% in 2005. An essential component of these controls is the work of security firms, IT specialists, and detectives such as Aaden Commercial Detective Agency Munich. If, in cases of suspicion, clear court-admissible evidence is lacking due to insufficient proof or compromising statements from third parties, Aaden Detective Agency Munich is always in a position to deploy its economic detectives to investigate the relevant employees or competitors and contribute to resolving the case.

Aaden Detective Agency Munich

Schellingstraße 109a

D-80798 München | Munich

Tel.: +49 89 7007 4378-0

Fax: +49 89 7007 4378-9

E-Mail: info@aaden-detektive-muenchen.de

Web: https://aaden-detektive-muenchen.de/en

 

CEO: Maya Grünschloß, PhD

Register Court: Amtsgericht Köln

Registration Number: HRB 83824