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Financial Crime Investigation Tools

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Questions and Answers

What is the primary goal of a fraud investigation?

To identify the perpetrators of the fraud

To gather evidence to build a criminal case

To meet regulatory expectations

To determine the extent of the fraud and prevent future occurrences (correct)

What is the purpose of an internal investigation?

To determine the extent of the fraud

To meet regulatory expectations

To identify and address internal control weaknesses (correct)

To gather evidence for a criminal case

What is an independent investigation typically directed by?

An external auditing firm

A regulatory authority

A committee of the Board of Directors (correct)

Management and in-house counsel

What is the primary benefit of a well-executed fraud investigation?

It deters future fraudulent activities Signup and view all the answers

What is the first step in the fraud investigation process?

Determining the source of the allegation Signup and view all the answers

What type of evidence may be analyzed during a fraud investigation?

Both physical and electronic evidence Signup and view all the answers

What is the purpose of document reviews in a fraud investigation?

To understand the background of the fraud Signup and view all the answers

What is the role of stakeholders in a fraud investigation?

To gather evidence and provide relevant information Signup and view all the answers

Why is it important to preserve electronic data in a fraud investigation?

To prevent destruction of evidence Signup and view all the answers

What is the ultimate goal of a fraud investigation?

To prevent future fraudulent activities and uphold the rule of law Signup and view all the answers