January 17, 2011

Firm's Announcement Indicates Growing Fraud Levels

Expansion rumors were confirmed on Friday when Wymoo International sent out a press release announcing the private investigation company's plan to expand its international private investigation business in the U.K. and Malaysia. Private investigators and industry observers view this announcement not only a sign of Wymoo's success, but also as a reminder that fraud and scams levels are growing in the U.K. and Malaysia, despite efforts to shut down the criminal operations. Indeed, private investigators in London and Kuala Lumpur report that requests for international background checks, due diligence and private investigations are up in response to a higher risk for fraud. Individuals and businesses should be cautious when forming new relationships in these countries via the internet. Wymoo ranks these countries as 'moderate risk' nations for fraud and the report suggests demand for verification services will remain high.

Both international private investigators and law enforcement agencies now emphasize that developing countries are no longer the sole source for criminal operations conducting scams via the internet. Countries like Russia, Nigeria, Ghana, the Ukraine and the Philippines may be top on the list, but criminal operations are now working from all over the globe, including the U.S. and U.K. A Wymoo spokesperson confirmed that demand for Malaysia background checks and U.K. background checks was up significantly in 2010 and the trend is expected to continue. Experts say the rise in fraud and scam levels is primarily a by-product of globalization, as new relationships, both business and personal, are increasingly formed over the internet.

The expansion of a private investigation company's international operations clearly is not always an indicator of global fraud levels. However, analysts say that Wymoo's growth rate and track record in gaining global market share are proof the firm has already made accurate predictions regarding international fraud levels and criminal activity. (Read the Wymo press release.) For companies and individuals starting new relationships in these countries, it would be wise to consider the increased risk, and hire a professional private investigation firm or background check company to verify unknown companies or individuals.

All the Best,

S. Birch
© 2011 S. Birch
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