Our team of fraud specialists understand that once fraud is discovered it is essential for those affected and their professional advisers to react swiftly and effectively in order to minimise the losses and reputation impact they may have suffered. More importantly, our team recognise the cost of preventing fraud is far better than having to find a cure after the event.
"Health Shield have been impressed with the advice of DWF’s Fraud & Risk team in relation to improving our counter fraud strategy and approach to fraudulent claims. They remain an integral part of our counter fraud strategy due to the depth of their industry knowledge and expertise in advising on commercial fraud issues”– Melanie Price, Claims Manager at Health Shield Friendly Society
The true cost of fraud is not just a quantifiable number. It includes the loss identified to have been caused by the fraud as well as the other costs such as penalties from regulators, the cost of an investigation and disciplinary process, the loss of shareholder value as well as the unquantifiable loss in terms of reputational damage and loss of trade. Our Fraud & Risk team have now developed Fraud Response to help counter and react to the events of fraud and save our clients money.
CIFAS (the UK’s Fraud Prevention Service) reported in November 2013 that the average cost of investigating a fraud of under £25k was £22,564, under £100k was £28,631 and for between £100k and £1m it was £39,733. Fraud Response can help reduce the risk of this potential immediate loss of investigation costs.
DWF Fraud Response is priced at a highly competitive rate of £750 plus VAT per month.