Accounting Fraud in UAE. Edmonds Marshall McMahon are experts in conducting fraud prosecutions. We are a unique firm, staffed by attorneys and investigators, and have significant experience in ensuring that victims of fraud, in the UAE and elsewhere, are compensated and that defendants are denied the proceeds of their crime. We often advise on theft and dishonesty in relation to attorneys, accountants and other professionals who have abused their position. As you may know, accounting fraud happens when a company’s assets are overstated or its liabilities are understated – this manipulation of the accounts is designed to make a company appear financially stronger than it really is.
Accounting fraud is part of a wider crisis across the globe. By way of example, in January 2021, the Royal United Services Institute (“RUSI”), a defence and security think tank, published a paper explaining that fraud in the UK has reached epidemic levels. According to this paper, fraud is the “volume crime of our time”. There is certainly increased media attention around the issue – for example, shortly after the RUSI paper was published, the BBC reported that the UK’s fraud epidemic is now a “national security threat”. Notwithstanding greater awareness of this world-wide problem, the response of governments across the globe continues to fail individuals and businesses. Traditional law enforcement agencies are failing to prioritise fraud offences, even as reports continue to rise. This state of affairs is at the heart of Edmonds Marshall McMahon’s mission – as private prosecutors, we specialise in providing fraud victims with access to justice.
Edmonds Marshall McMahon understands that accounting fraud can often cause embarrassment, leading victims to batten down the hatches and ignore the crime. With this in mind, our firm works closely with clients to ensure that we understand a company’s culture and reputational concerns before commencing a prosecution. Our clients in the UAE benefit from our global reach and access to specialists, including investigators and forensic accountants, in various jurisdictions. Whatever the fraud, please talk to us (free of charge) so we may advise on what is possible in your circumstances.