Case Study: South American Mining Company strengthens fraud prevention with BDO

South American Mining Company uncovers $18 million vendor fraud with BDO

A South American mining company faced a significant financial loss after discovering vendor fraud schemes perpetrated by its own employees. The company engaged BDO to conduct an internal investigation to uncover the full extent of the fraud and identify all involved parties.

BDO implemented a multi-faceted investigative approach that included data analytics, computer forensics, and personnel interviews. As a result, BDO estimated the total loss at approximately $18 million. The investigation led to the termination of nearly 40 employees and 60 vendors. Furthermore, BDO helped the client significantly strengthen its internal controls and fraud prevention procedures.