Since March 2020, the media has written about a corruption case involving the construction industry. yourCompany has followed the case with interest. It was good that PFA in this case discovered the fraud and reported the matter to the police. A report that was apparently strong enough for the police to investigate the matter further and have now arrested a number of people in the case. Granted, they have not yet been convicted. However, our experience is that the police are busy and don't waste time on cases where they don't also consider there to be a criminal offense.
A lawyer and several directors have been arrested
It may come as a shock to some that 2 current and 1 former CEO and even a lawyer have been arrested in this case.
At yourCompany, we are unfortunately less surprised. In the first half of 2020 alone, we have assisted with two investigations, each involving a different director who has committed fraud against his own workplace in the millions. Over several years. We have also assisted in a non-compete agreement case, where a verdict has now been reached against the management of the company we investigated - discreetly.
Right now, we are working on a case where a manager just below the executive board is committing financial crime against his workplace, probably without his bosses being aware of it. That manager is about to have a bad experience this summer.
Unfortunately, we have also been asked for assistance that includes the suspicion against consulting engineers, where there are also bad apples. Therefore, we welcome the PFA case and await the further course of the case.
It's often for millions of dollars
As readers will understand, it is therefore not surprising for those of us working in the field to see such cases. Especially in cases involving construction and production, there is ample opportunity to deceive and cheat your employer. The higher up in the company you are - the greater the level of trust. The greater the trust, the greater the financial leeway you typically have, which means you also have the opportunity to sin for large sums. Often in the millions. It will probably shock many people to know how common this is
Kickbacks for contracts, trading goods for goods, over-invoicing leading to kickbacks, misuse of company funds and outright theft for personal gain are more common in Danish business than we would like to think. Denmark considers itself a country with very little corruption. It's part of our self-image. The studies this assumption is based on are studies of the public sector. The private sector, according to yourCompany's experience, is somewhat different. Unfortunately, it is.
Whether it's better or worse than in other countries we compare ourselves to, we don't know. But one thing is certain internal shrinkage costs the Danish business community several billion Danish kroner annually. Money that should be in the pockets of either companies or the tax authorities. Not with the thief or fraudster.
A case of mandate fraud, forgery and large sums of money
Some industries are hit harder than others. The article from DR points to the construction industry, which we unfortunately also consider to be hard hit. Unfortunately, only a fraction of the cases that are discovered are reported to the police. Maybe that's a good thing, because police resources don't stretch to much more. In a reported case from the spring, our customer has just contacted the police, who report back that they will hardly have time to look into the case in 2020. It is a case involving both mandate fraud, forgery and large amounts of money. Unfortunately, it is normal for the police to make such an announcement. However, this should not deter companies.
With pressure comes focus and with focus comes resources. In this case, to the police.
“Go for the man” if the police don't have time
Unfortunately, management in some companies still have an outdated mindset when it comes to investigating these matters. Unfortunately, only a small number of cases are reported to the police and lead to compensation claims and convictions. This allows the bad guys in the industry to continue their business with a new employer, so it's actually a slightly antisocial act to “pass the buck” and not deal with the corrupt employees. There is a culture in some people that could benefit from change and it is the responsibility of the boards and management teams to address that development. A small motivating factor may be that the standard of proof in a civil case is lower than in a criminal case. In some cases, it may be possible to “go after the man” even if the police don't have time.
yourCompany is ready to help
In the event of an accident, yourCompany can assist boards, management, lawyers and insurance companies with in-depth investigations. We are good at it and with an employee portfolio that exclusively includes former police officers, we do it thoroughly. Ethically sound and credible.
However, we would much rather be part of the prevention and help businesses prevent corruption and financial crime. This is where the good business case lies and it is best done through involvement, a smile and collaboration with the company's good employees. It doesn't have to be a divisive issue.
Good employees want the best for the company. They often know where the problems are or could be and can help prevent them from happening. So listen to employees should be a piece of advice from here. It's usually a certain small group of employees who “jump through hoops” and won't collaborate on the topic. But times change.
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