document management solutions examines white collar crime

Sure, headlines may call you the “most hated man in America,” but when Donald Trump is able to get away with calling you a “spoiled brat,” it may be time to re-evaluate your business plans. 

Well, not YOU.

Unless you’re Martin Shkreli, the “Pharma Bro” boy wonder who became infamous after his company’s well-publicized 5,000 percent increase of the HIV drug  Daraprim.  Shkreli was arrested by the FBI on Thursday December 17th, 2015.

The accusations facing him have nothing to do with price gouging, even with the consideration that the price of Daraprim went from $13.50 per pill to $750.00 under his watch.  Instead, the FBI is charging Skreli, head of Turing Pharmaceuticals and KaloBios Pharmaceuticals, of securities fraud.  And it’s not about his activity with Turing or KaloBios, either—this seven-count indictment is related to business activities at his prior position as CEO of biopharmaceutical company Retrophin, Inc.

The FBI’s definition of white collar crime is stark, yet refreshing:  lying, cheating, and stealing.  This is a big white collar crime, and one that has a lot of people who were critical of Shkreli happy.  The outcome is by no means assured, but safe to say, anytime the FBI comes knocking at your door, the odds are good you’ve done something very, very wrong.

Shkreli is also an aspiring rapper and hip-hop enthusiast, recently famous for paying $2 million for the new Wu-Tang Clan album, “Once Upon a Time in Shaolin.”  Before anyone wonders why anyone else might pay this amount for a single album, they should first know there was one copy—and only one copy—produced.  However, federal prosecutors have stated they are unaware from where the funds for this purchase came, and one can only imagine the big fun explaining that at a trial.

The charges leveled could wind up producing a 20 year prison term for the “bad boy of pharmaceuticals.”

So how does law enforcement look for the information to prosecute crimes like this?  Well, one tried and true way is via tips from the public, such as this FBI tip form here.   

But the rest is mostly driven by big data.  With new technologies like online banking, POS (Point-of-Sale) systems, contactless payments, and third party check cashing/funds companies, investigating financial crime is one of the most time-consuming endeavors of the FBI.  They have designated programs like the National Bank Fraud Working Group, and SAR, or ‘suspicious activity reports’ to flag potential fraud across the nation.  They look for trends and gaps over big groups of data transactions which may indicate criminal activity.

There’s a lot of high-tech involved to allow lots of data accumulation and sharing of  information, like:

It’s a tight ship, with built-in privacy protections, user authentication, and audit logs to preserve all search records.  All the more reason to be a law-abiding citizen:  with the best tools on-hand, the FBI has a reputation for being extremely effective.

But what about your business?

Are you and your employees able to be extremely effective as you conduct your affairs?  Are your employees able to find and share relevant data that may help them get through the door of the important prospects they need to reach in order to grow your business? 

5i Solutions Inc. has customized solutions to allow you to meet and exceed your goals.  Document management solutions with instant access to any piece of important data and sharing capability.  Document imaging and processing systems that convert ordinary data at its source into digital ‘smart data,” that can be searched.  And all held in a super-secure 5i “Cloud Vault.”

5i Solutions.  One single, secure point of intake, access, and storage.  One singular solution.

5i Solutions, Inc.

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