In any recession the rate of fraud skyrockets. Grant Thornton’s Forensic and investigation services team has successfully dealt with dozens of fraud cases. Most financial fraud is computer fraud - most financial systems reside on computers. We have an integrated team of accounting and IT forensics experts which allows us to deal with frauds holistically – maximising the chances of catching the fraudster and recovering lost funds.
The problem
Our client, a major domestic financial services company, found that a number of key bank accounts had been emptied by persons unknown. In parallel to a Garda investigation we were asked to identify the means by which the accounts were compromised and the money stolen, and to identify any persons who may have been culpable in the matter.
The solution
We reverse-engineered the money transfer application used to commit the fraud, and found a number of fundamental defects that made the fraud easier to commit. Using the information gained from this analysis, we discreetly analysed a number of key individual’s computers, which allowed us to isolate a number of unauthorised and highly suspicious instances of computer system access in the days running up to the fraud. We further found that the data on one key computer had been “scrubbed” using counter forensics tools.
While the Gardai were unable to prosecute the fraud, our clients were given sufficient grounds to dismiss two individuals strongly suspected of involvement in the fraud. Our report allowed our clients to radically revamp their internal procedures, preventing any similar frauds in the future.