Protecting your business from fraud
Corporate fraud can have a devastating effect on the individuals involved, on a business and its reputation. It could be one of the biggest dangers businesses face.
Fraud can be carried out by employees, customers, suppliers or others and can lead to:
- loss of reputation and customers
- withdrawal of funding
- personal liability for senior people in the organisation.
It can take lots of different forms, including:
- fraudulent misrepresentation
- breach of fiduciary duty
- secret profits
- unjust enrichment
- money laundering
While businesses can put mechanisms in place to minimise the likelihood of these things happening, if they do happen then it’s crucial that they act quickly. Assets can quickly become re-distributed overseas and, if businesses are too slow off the mark, asset tracing can prove fruitless.
Acting quickly can also help prevent regulatory or criminal sanctions as well as further damage to the business’ brand. We provide highly trained fraud solicitors that can help increase the likelihood of asset recovery.
Court applications for freezing orders (preventing the assets being disposed of or dealt with) or search and seize orders (to search the respondent’s premises) are common remedies. For businesses embroiled in an episode of fraud, there are quick decisions which need to be made early on.
The biggest is whether the value of their loss, and the potential future losses, justifies taking action including applications for interim remedies like court injunctions.
About our Asset Recovery and Fraud Solicitors
Our commercial disputes lawyers quickly get on board in any fraud case, seeing the intricacies of the case as well as the bigger commercial picture. They help clients decide on the best course of action and help protect their position and their assets through decisive action.
They also advise on worldwide tracing and recovery, teaming up with investigators and foreign lawyers to retrieve lost or stolen assets.
"Lawyers at Nelsons Solicitors Limited have ‘acute perception of the nuances of litigation’ and ‘fight hard without losing sight of the client’s best interests’."Legal 500