Forensic Investigation and Analysis Helps FAZ Client with Alleged Fraud and Business Controls

In this case, FAZ was engaged to investigate a matter related to alleged allegations of fraudulent disbursements being made out of a Unions pension funds. The FAZ team moved quickly on several fronts to safeguard the integrity of the Unions pension system as management expressed their desires to get to the bottom of the matter and address the allegations. FAZ personnel conducted a fraud investigation and performed a review of the Union’s financial business controls including but not limited to recommending options on ways to strengthen all internal controls. FAZ was authorized by the Union to contact the district attorney’s office concerning the alleged embezzlement committed by several employees and worked with the district attorney’s office on the ultimate successful prosecution of the individuals.

As part of the investigation FAZ was appointed to oversee the newly created position of Chief Information Security Officer and assist in its implementation and mandate. This newly created position provides the organization with tactical information security, governance, operational and financial control initiatives. FAZ personnel responsibilities included establishing policies, operating procedures and protocols in regard to the capture and processing of complex benefit and pension plan transactions, including shaping the funds internal audit department.

This matter combined both forensic accounting as well as establishing operational initiatives in order to rectify the breakdown of controls and establish a more cohesive and secure information reporting system.