KNEF Consults Connect
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K. Nyame Educational Foundation Consults Connect
KNEF is a registered not-for profit federal corporation in Canada, which beliefs in giving back to the community, through K. Nyame Educational Foundation.
KNEF Consults Connect (KCC) is a branch of KNEF. It seeks to solve the fraud issues associated with companies transacting businesses in African countries, including Ghana. KCC concerns itself with individuals or groups defrauding companies, and African companies duping international organizations, and vice versa. It is committed to coordinating all aspects of third-party risk management, including due diligence services. It also uses its expertise to manage regulatory, reputational, and other risks involving suppliers and customers, that organizations are exposed to, especially in this fast-paced global business environment, and streamline modalities to mitigate those threats. The approach of strict regulatory compliance and the enhanced due diligence ethos that KCC has been committed to, and carries out, have saved millions of dollars for African companies and their Western counterparts.
We consider it not only as a tragedy, but also an emergency, should a company, whether African or Western, scams its counterpart, be it a supplier or a customer, and individuals defraud companies as brokers or agents. KCC’s objective is to avert such occurrences and to reclaim monies or proceeds from such illegalities, through our private investigative mechanism, equipped with well-trained cybersecurity investigators. These experts can track and locate where illegal communications occur, for instance, for remedial actions.
As mentioned earlier, KNEF, the parent of KCC, is a multi-national corporation federally registered, not-for-profit organization dedicated to dealing with scammers in the West, and those hiding behind expertise in IT to scam potential investors. Accordingly, KNEF is willing to invest its untapped resources into enhancing compliance standards at all levels. Aside from corporation and corporation scams, KNEF also deals with individuals who seek to bankrupt the few entrepreneurs who desire to change the African business image from that of a rudimentary to a sophisticated one. It has come to our attention, for example, that our partners in education, farming and mining businesses in Africa are getting hoodwinked by fundraisers and online scammers from Western countries. Hence, the KNEF team of paralegals and lawyers are dedicated to assisting, through enhanced conduct of due diligence for our partners back in Africa to escape the risk of losing processing fees before scammers’ promised funding is granted.
Our hard-working entrepreneurs in Africa are connecting to the West for business partnerships. Unfortunately, however, Africans are getting conned by the so-called financial groups. This not an allegation to all; those who have experienced this scam are too many to count. If you have ever looked for funding and ended up being hoodwinked, or have not heard of the investor, then we are talking to you. “Expansion needs funding” said Mr. Godwin, an economist at York University. We cannot impede considering funding in conditions where we want to expand. Recently, several companies back in Africa were defrauded by foreign investors. They charged them for services, and after getting paid, they cut off all ties with them.
African entrepreneurs tell horrific stories about how they constantly lose money to investors abroad. I recently investigated an Ontario-based corporation with a Bay Street address, only to find out that it does not exist. It is a ‘dummy’ corporation. It only exists online, and as expected, the scammers refuse to meet in person. To further hide their identity, those behind the scam, are unwilling to have virtual meetings with clients with transactions involving over a 10,000,000-dollar business deal! While the scammers, representing the dummy corporation declined to have virtual meetings with me about the potential deal, they expected my client to pay approximately USD 30,000 for their investment and fundraising service. This is only one of the many non-existent companies we investigated over the past few years. We are prepared to offer our services to any individual and/or corporation that is willing to support industries in Ghana with our team of experienced investigators, lawyers, and paralegals in Canada.
Online fraud is becoming rampant and is affecting our partners in Ghana and must stop! Many investors do not trust our partners in Africa either, because of records of corruption or potential scammers. The KNEF investment team will use acceptable strategies to secure funding for an organization that has business plans that make sense.
KNEF believes that it is easy to secure funding if projects make sense. We connect investors to entrepreneurs after a careful and thorough investigation of lending corporations and benefactors.
We do not want to publish all the fraud companies that we have dealt with now, as our legal team has an ongoing investigation that will soon come to an end. The KNEF fundraising team is furious with individuals and corporations that defraud people who are already suffering economic hardship.
It has a working knowledge of the system works in the West that makes it difficult to default on loan payments and it will utilize this expertise to shield potential fraud victims.
Canadian companies are equally loathed to scams and are discouraged by the debauched strategies of fraudsters who victimize entrepreneurs who look up to international investors and are willing to pay fees to secure funding contacts from credible sources. Team KNEF shares this sentiment and considers security and mitigation of the impugned risk, a shared responsibility. Those companies that consult KNEF can obtain valuable pieces of information to guide themselves, and in turn, advise their partners of the current treacherous trends of funding-related fraud. With this knowledge, they can avoid predators who are seeking to defraud unsuspecting companies. We are available to guide companies that are considering expansion into African or international markets, and vice versa, to manage the risk of deception and fraud, and to safely navigate the predatory global business environment. For we are aware that African entrepreneurs are looking for honest foreign investors to partner with. The same applies to international or Western-based companies.
Media campaigns against fraud seemed remote to our team initially, until a good friend and client, a CEO of a private university in Africa, got scammed of about USD 50,000 by international fraudsters, with the promise of investment/funding. Since then, KNEF which has been dedicated to supporting education enterprises, through its due diligence services, has been helping entrepreneur clients to raise funds for investment purposes. This ties in perfectly with our non-for-profit mandate of improving the living standards of people in diverse economies and levels of development around the globe.
This CC branch of KNEF is equipped with people from various areas of expertise. They include cybercrime analysts, practicing and non-practicing lawyers, paralegals, and chartered accountants. Together, we fight fraud through enhanced due diligence services.
Our team of dedicated professionals, combines forensic accounting skills, financial experience, fraud investigation, and practical expertise, informed by great care, attention, and expediency to help our clients. We do this by identifying, investigating, preventing, and recovering ‘loss to fraud’ for them.
Driven by our due diligence commitment, for example, we have been able to identify such websites as RefundLTD.com, Recovery-Agency.com, ILFCA.com & paybackltd.co, as SCAM sites that are using the name "PayBack".
How do we help you? We do this by:
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Reviewing your claims.
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Gathering material evidence.
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Confronting the scammers hiding behind computers; and finally.
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Get your money back.
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We perform preliminary checks to ascertain that there is a case to answer and whether the case is worth the attention.
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We run in-depth checks of relevant pieces of information to aid in bringing the case forward.
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We use the evidence acquired to force scammers, and the banks that hold the stolen funds, to release the money to their victims.
WHY SHOULD YOU WORK with KNEF?
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The short answer is that we have been there. We worked on our corporation when we become a victim of a fake company. That is why we are wholly blatant in our evaluation of each situation. We’ll never take a case that we can’t win; if it can’t be fixed, we’ll tell you so. But if we feel there is a case, we get to work right away!!
To recover losses, fraud victims, often, must pay hefty legal fees. However, it is more costly to the victim if no recovery is made. Even with recovery, the victim may still have lost a significant amount which may affect business operations. Therefore, victims should first consider what they hope to achieve before entering expensive retainer agreements with lawyers to recover monies lost to fraud. That is where KNEF comes in.
KNEF has the expertise to tackle the recovery process effectively. We do not encourage companies to engage in recovery agreements without a premium on due diligence. Recovery of assets is KNEF’s first and foremost important objective. While fees paid by fraud victims for recovery purposes should not be greater than the recovered amount itself, discovery may be equally tough to achieve. For instance, it may be difficult to estimate legal fees associated with litigating a fraud case, as the fraudsters response is unknown. For this reason, KNEF considers three possible scenarios while dealing with fraud issues.
These considerations are:
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If the fraudster chooses to fight, getting to trial and obtaining a judgment often comes at an extremely high cost to the victim.
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If the fraudster chooses to leave the jurisdiction, obtaining a judgment may not be very expensive, however, recovery may cost more than the amount of the judgment.
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If the fraudster chooses to surrender, this often leads to a settlement process and the legal fees should not be an obstacle to recovery.
All these uncertainties could be avoided by consulting our team to assist you in dealing with foreign investors, especially investments among African and Canadian companies. On a cautionary note, KNEF encourages its partners and everyone reading this to exercise due diligence in dealing with foreign investors. We are here to mitigate the risk of financial loss to clients in both Africa and Canada, through the exercise of due diligence.
If it becomes necessary to go to court for recovery, upon consultation, will.
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Find the right fraud recovery lawyer for you
Like most areas of law, fraud recovery law is an area of expertise that should be engaged in by lawyers with requisite skills and experience In Canada, for instance, we have access to many firms that employ fraud experts. Also, we work with boutique law firms that specialize solely in fraud recovery.
For KNEF, finding the right lawyer or law firm for you is important. In doing this, we consider:
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The expertise and experience of the lawyer,
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If you feel comfortable with their advice and their plan for your case,
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The rate the lawyer charges, and
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The type of retainer (the way they will be paid) the lawyer is willing to agree to.
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Lawyer’s fees – types of retainers
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The type of retainer a lawyer agrees to often reflects how willing the lawyer is to share in the risk of recovery. A retainer may be in the form of:
Traditional fee-for-service retainers
Provide no guarantee of recovery. The fraud victim is charged fees, often on a monthly, or task or event basis, and the victim carries all the risk of the litigation and recovery.
Blended fee-for-service retainers
Both the fraud victim and the lawyer share the risk of litigation and recovery in blended fee-for-service retainers. A lawyer will work for a percentage of their hourly rate, such as 50%, plus payment of his or her disbursements. In this situation, the other half of their fees are either paid or negotiated, from the money recovered.
Deferred fee-for-service retainers
The lawyer carries all the risk of recovery because they are only paid from funds that are recovered, with the victim getting any excess amounts from recovery.
These types of retainers usually carry conditions, such as:
· the client pays for disbursements,
· the client pays any adverse cost awards, and/or
· the lawyer alone decides the settlement and litigation strategy, and the client must cooperate with the litigation process.
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Deferred fee-for-service retainers are common in cases where the fraud victim cannot afford to litigate.
Contingency retainers
They are more often used in personal injury cases rather than fraud recovery cases. In a personal injury case, lawyers can recover assets from an insurance company or other debtor who is obligated to pay if the defendant is found liable. Recovery amounts in fraud recovery cases are often not sufficient to satisfy a contingency retainer.
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But this could be avoided. As a client, KNEF connects you with investors without a third party. We deal directly with investors in various areas of business. KNEF is more interested in recovery that favors avoidance of litigious processes. Hence, we urge victims of fraud to contact us. We are ready to help you.
But what is fraud?
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Oxford dictionary simply defines fraud as “Wrongful or criminal deception intended to result in financial or personal gain.” The same dictionary defines a fraudster as a person who pretends to have qualities, abilities, etc. that they do not have, to cheat other people.
The Canadian government has been educating its citizens on fraud prevention, yet scammer finds different ways to dupe seniors and non-seniors alike.
According to the Canadian government, “Scammers are sneaky and sly. They can target anyone, from youngsters to retirees. They can also target businesses. No one is immune to fraud. But our group of superheroes has found a way to see through scams. Their secret is simple: knowledge is power!
For education on identifying fraud, and to become a fraud-fighting superhero, we recommend
The Little Black Book of Scams (2nd edition), published online, by the Government of Canada on March 1, 2018.
We share in the Canadian government’s vision of combating scammers and encourage you to become a real-life superhero by arming yourself with the information you need to fight fraud and keep yourself, your family, and your money safe.
You work hard for your money. You want to spend it on things that matter to you whether it's your children's education, an exciting trip, or a new smartphone.
Fraudsters are real. They are out there every day looking for victims. They will target you online, over the phone, by mail, or in person. We have been in this line and will not experience that anymore.
You're a target. Thousands of Canadians and people around the world lose millions of dollars to fraudsters every year. The impact of fraud on families and businesses can be devastating. Team KNEF will go on to fight against any act that brings underdevelopment and pain to society or an individual. Most especially, we combat any entity that goes against education by defrauding universities and colleges. Fraudulent activities deprive our future and should not be encouraged in our communities. For this reason, KNEF has been fighting fraud for the past 14 years as a not-for-profit corporation.
Furthermore, we recommend the “Fraud Prevention Forum” for all assist in fraud prevention.
Since 2004, the Forum has been organizing nationwide Fraud Prevention Month campaigns to raise fraud awareness and promote confidence in the marketplace.
The Forum works towards fighting fraud by providing information to help Canadian consumers and businesses to:
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Recognize fraud
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Reject fraud
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Report fraud
Members collaborate on activities such as:
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Social media campaigns
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Disseminating information to Canadian news outlets
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Hosting or participating in public events
The Forum is chaired by the Competition Bureau and currently consists of a group of approximately 60 organizations this tells how the Canadian government is dedicated to fighting fraud. It cannot be done by only the government, our efforts or contribution, plus those of:
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Consumer and volunteer groups
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Government agencies
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Law enforcement organizations
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Private sector
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If becoming a partner in the fight against fraud is of interest to your organization, please contact us for further information.
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MONEY BACK!
If you lost money to scammers, contact us now and we’ll work with you to get your money back!
To anyone who has been scammed, contact us now and we’ll work with you to get your money back!
Would you help us with this initiative?
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As a part of our corporate social responsibility, If you find this project useful to both Africa, America, and Canada. You can help us by Donating to KCC here.
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