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Corporate Fraud Still on the Rise According to Many Executives

A recent survey from a national accounting firm shows many corporate executives believe fraud cases will continue to rise in coming years. Fraud expert Brian Mahany discusses the poll and ways to address this serious problem.
    MILWAUKEE, WI, September 18, 2009 /24-7PressRelease/ -- Fraud on the rise?  That's the opinion of nearly a third of corporate executives according to a recent poll commissioned by accounting firm KPMG.  Notwithstanding several high profile white collar prosecutions in recent years, many executives still fear corporate fraud will actually rise in the coming months. And most executives (71%) worry about the loss of public trust in their organization should fraud be discovered.

What worries businesses the most in this political climate? Improper financials, asset misappropriation and illegal acts.  In the latter category, illegal acts, a full two-thirds of executives surveyed thought such activities were "significant risks" in their industry.

What does this mean for American businesses? Everyone agrees that government and banking scrutiny will dramatically increase in the coming years. As government enforcement efforts and private litigation increase, so do the risks to businesses and their assets. 

Attorney Brian Mahany recommends all businesses engage in asset protection planning and have a complete internal forensic audit before problems surface. By utilizing a law firm to undertake the audit, the findings can in most cases can be protected by the attorney-client privilege.

MahanyLaw works with a team of highly skilled and credentialed forensic accountants and former law enforcement officers (U.S. Treasury, F.B.I. and criminal tax investigators) to prevent problems before they occur and stop problems before they become public.  Identifying problems early prevents clients and banking relations from losing confidence in the business.

In the event of a government audit or investigation, Mahany recommends immediately contacting an experienced criminal defense lawyer to protect the client's interests at every step of the process. "Too often we see cases where the business' corporate lawyer tried to manage the company's response to the audit or investigation," says Mahany. "The stakes are simply too high to risk mistakes, hire criminal counsel immediately."

Brian Mahany is the founder of MahanyLaw and a former assistant attorney general, state revenue commissioner and experienced trial attorney. Last year he was part of the trial team that secured felony acquittals for actor Wesley Snipes in Ocala, Florida.

Mahany believes his firm, MahanyLaw, is unique in its ability to both prevent problems through quality forensic audits and to respond to government audits and investigations when problems do occur. From their offices in Portland and Milwaukee (and satellite offices in California and Florida), MahanyLaw's tax, fraud prevention and asset protection team of lawyers is ready to assist clients anywhere in the nation.  Find out why at MahanyLaw they are truly "Trusted Advisors to the Highly Successful."

About MahanyLaw

MahanyLaw is a boutique law firm concentrarting in Asset Protection, Fraud Recovery, Tax Litigation and White Collar Criminal Defense. We represent businesses and individuals throughout the United States. For further information, please call us at (414) 704-6731

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Brian Mahany

Milwaukee, WI
Voice: 414-704-6731
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