The phrase "substantial financial losses" refers to a significant amount of money that has been lost or misplaced. This can occur due to various reasons such as poor investment decisions, fraudulent activities, unforeseen events like natural disasters, theft or embezzlement, among others. The magnitude of financial losses may vary from a small amount to millions of dollars and can have severe consequences for individuals, businesses, organizations, or governments that experience them. In such cases, it is essential to conduct an investigation to determine the cause of the loss and take appropriate measures to prevent future occurrences.