Global Economy and Investigations

[Jimmybob]

Morning all,

With the global economy once again looking a little shaky, I was wondering if any of the investigators who worked through the 2009 Global Financial Crisis (GFC), were able to shed any light as to the influence the economic outlook can have on the level of available investigative work that is available???

On the one hand I figure that when you have something like the GFC occur people are less likely to have the cash to throw around to hire investigators for personal reasons (i.e. infidelity cases), yet on the other hand a poor economy usually sees  a rise in fraud taking place etc, so (perhaps?) ensuring a steady availability of  insurance/fraud work?

I could be way off, and realise that there would be a number of impacting variables.. i.e. A poor economy might  mean less money around for checking out a cheating spouse , but on the flip side however,  economic stressors are often behind an increase in infidelity occurring!

Your thoughts would be most appreciated!

[wylie_ma@hotmail.com]

Hi Jimmy,

I cannot comment on surveillance however, during the GFC we [large insurer] instructed just as many claims, if not more, for factual investigation. Instances of fraud are likely to increase for insurers, where unemployment rises, people become more and more desperate, and vehicles are seen to be surplus to their requirements.

Hope this helps

[BigGeorge]

Jimmybob

I started in investigations in 1975 and over the ensuing 30 odd years there was this endless cry amongst investigators - things are getting worse, the economy is going down (or, up), clients are changing their priorities (increasing budgets, reducing budgets) and people no longer trust (or, need them more) private investigators. People were leaving the industry and people were coming into the industry.

Nothing changes, everything changes. Like the weather, we can't change the demand for investigation services, but there is no need. I always had work, work, work and more work... who cares about the economy LOL

If you are good at it, you will always be in demand.

 

BG

[Jimmybob]

Many thanks Wylie and George.... Again, your sharing of your experience is most appreciated.