Fraud examiners, financial crime specialists and counter fraud specialists are in the business of private internal investigations for their clients. Four problematic issues related to their roles are discussed in this article: privatization of law enforcement, disclosure of investigation reports, competence of private investigators, and limits by investigation mandate. A sample of thirty-two investigation reports is presented to illustrate these key issues. In addition, the issue of regulation of the investigation business is discussed. The focus and message of this article on financial crime specialists is an intriguing one, and it is a topic that is ripe for more sustained scrutiny.