EMPLOYEE MONITORING

Private Investigations for Businesses

Money laundering and corruption are not restricted to the CEO’s of large corporations or FIFA. It is something that costs billions to business every year and since the Criminal Finances Bill was introduced for discussion as a potential amendment to the Proceeds of Crime Act 2002, in November 2016, it would seem that politicians and the public are looking for companies to be held accountable. This is a potentially major legal development in terms of corporate liability and could cost guilty company’s a lot of money, easily offsetting the cost of hiring a private investigator.

What would companies be liable for?

The bill would expand corporate liability to include:

Making it a criminal offense for corporations who fail to prevent their staff from indulging in or assisting tax evasion.

Provide the National Crime Agency (NCA) with more investigatory powers, while also using the Suspicious Activity Reports (SARs) to focus on companies that are involved in money laundering.

Enhancing the ability of courts and law enforcement agencies to claim criminal assets, especially in cases of grand corruption.

What would this mean for businesses?

A company or business could for example be held accountable for tax evasion if there were not reasonable actions in place to prevent tax evasion by employees, subsidiaries or agents.

How can private investigation help?

Businesses will need to be sure that their employees are trustworthy, honest and reliable. A private investigator can be used at all stages of the employment cycle, from providing in depth and detailed background checks on potential new employees, to  providing the evidence your company needs to fire and prosecute those employees who are potentially breaking the law. Private investigators have access to a range of resources and techniques that are perfect for using within business situations, including surveillance, vehicle tracking and under-cover work.

In summary

If businesses are to take their role seriously in preventing financial crimes, hiring a private investigator is the most effective way to go about this, catching criminals in the act, providing legally usable evidence and protecting the companies reputation and finances.

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