Business Intelligence can Prevent Fraud and Embezzlement Overseas


Released on: October 13, 2011, 3:51 pm
Author: Allen Smith
Industry: Law

New York, NY. October 13, 2011. It is all too easy for a company or entrepreneur that does business in foreign countries to get ripped off. Fraud, embezzlement, identity theft and other kinds of white color crime are all too common in many nations. To make matters in some countries the authorities will either be actively involved in such crimes or cover them up.

Governments cover up such crimes for many different reasons including encouraging investment and protecting the national reputation. In undemocratic countries it can be very hard for foreign businesspeople to tell if such crimes are going on. Authorities often go to great lengths to hide such shenanigans which can make it difficult to know whether it is safe to do business or not.

Fortunately there are profile services that can help individuals and companies know if it is safe to invest or do business in a country. These organizations are business intelligence companies, they gather intelligence for business much like intelligence agencies gather information for governments. Many business intelligence agencies employ former agents of the CIA and other intelligence services so they can gather a large amount of information that is not normally available.

Many of these agencies specialize in investigating business climates in specific nations. They actually employ specialists whose job it is to spot fraud and corruption. This can help a company avoid such pitfalls. These companies can prepare a comprehensive report about a particular nation and the risks a company can run by doing business there. They can also help investigate fraud after it occurs.

When attorney Howard Fensterman sued certain individuals in Abu Dhabi over alleged fraud he hired such a company to do an investigation. Fensterman's clients claim they lost $18 million in a business deal in the UAE. Had they hired such a company beforehand they could have avoided such losses.

The risk of being defrauded when you do business overseas is much greater than many entrepreneurs believe. Therefore it is always a good idea to hire professionals who can help you identify the dangers and show you how to avoid them. In addition to alerting a company to the dangers of fraud, a business intelligence firm can tell its management team what measures they can take to avoid to the danger. That can save a company tens of millions of dollars and help it do business in an honest and ethical manner even in a foreign nation.


Contact: Allen Smith
Address: 31st Rufino Bldg, New York, NY
Phn: 920-4233-987



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