Financial investigations are an integral tool to combat money laundering, terrorist financing and other serious crimes. By tracing criminal property, investigators are able to deprive criminals of the funds used to finance their illicit activities.
An asset and financial investigation involves searching for the value 흥신소 of private and commercial properties, vehicles, boats, art, jewellery, unclaimed assets and GLB compliant bank and brokerage account searches.
Hidden Assets
If you believe a person or company is hiding assets, it may be time to bring in a team of experts. Hidden assets can be found in real estate, cash, securities, investments and other valuable property. Hidden assets are often discovered in divorce cases, but they also occur when someone receives a judgment from an insurance company and wants to avoid paying that debt back.
People commonly conceal assets by transferring ownership of the asset to friends or family members, using shell companies or offshore accounts to hold purchases, and failing to disclose those assets on financial documents. However, a well-trained investigator can find these hidden assets through diligent search methods, and digital forensics. In many instances, evidence of fraudulent gains can be found in the files on a suspect’s computer or mobile device—including discarded versions of files, indications of wiping programs and private or remote web-browsing sessions.
Our expert investigators are skilled in locating assets and undisclosed bank and brokerage accounts, as well as discovering non-financial assets, such as vehicles, real property, boats, aircraft, equipment, unclaimed property and more. We use our experience to perform Asset Tracing and Financial Investigations on individuals and companies nationwide. Our clients range from spousal partners, parents and employers seeking to locate assets for custody, divorce or separation, victims who have received judgments in lawsuits but struggle to collect, and insurance companies looking to prevent fraud.
Money Owed to You
If someone owes you money and they claim to have no financial means to pay back what they owe, a full investigation into their assets can help you recover your debt. Whether it’s for business debt, or a family law matter like divorce settlement, an asset investigation can be the difference between a successful legal outcome and being left out of pocket.
Our financial investigations are able to determine where money comes from, how it is moved and where it is spent. The results of this work can be used to disrupt the flow of illicit funds, map criminal networks and engage powerful legislative tools that target the proceeds of crime.
A full financial investigation includes an examination of private and commercial property, investments, trusts, bank accounts, pensions and shares, and all overseas assets. It also encompasses other physical items such as cars, boats, art and jewellery. In many cases, this work can reveal the existence of assets that were previously hidden beneath the surface.
A crucial component of this type of investigation is to trace the beneficial owners of companies, real estate and other corporate holdings. This is often a difficult task as the beneficial owner may be hiding behind layers of shell companies and nominee directorships. This work is vital to the success of a full financial investigation and can uncover new leads that can be exploited to bring criminals to justice.
Asset Verification
When it comes to assets that aren’t readily converted to cash, such as land or real estate property, antique furniture, art, jewelry and other valuables, lenders typically require the borrower to provide documentation to prove that they exist. This documentation might include appraisal reports for land or property, purchase documents, insurance policies and other similar items.
The physical verification process is a crucial component of any fixed asset management system. It involves physically counting and inspecting assets, documenting the results of the inspections and reconciling any discrepancies between the physical counts and the existing records.
There are several benefits to conducting regular physical asset verification, including meeting regulatory requirements, maintaining accurate financial reporting, and reducing the risk of theft, fraud or misappropriation. In addition, a comprehensive physical audit is an opportunity to identify and eliminate ghost assets, which can reduce insurance costs and maintenance expenditures.
To conduct a thorough physical verification, the team must be well-trained and equipped with the right tools. In addition to a standard checklist, the team should have access to specialized asset verification software that supports barcode scanning and RFID technology. This will allow them to verify assets and record asset attributes, such as manufacturer, model, serial number, location, specifications, inspection date and other critical information. This will help the team to determine hidden assets and improve operational efficiency.
Fraud
Fraud is a major problem costing businesses and individuals serious financial losses each year. It happens when someone commits a crime and conceals the proceeds of their criminal activity to avoid detection. It can take the form of embezzlement, money laundering, tax evasion, bribery, and other crimes. Conducting an asset and financial investigation can help you discover these activities by looking for suspicious accounting practices within your company’s record-keeping system.
A good financial investigator should have a strong background in accounting and forensic analysis as well as an excellent understanding of financial regulations and anti-money laundering laws. They should also have a broad range of investigative skills that include interviewing witnesses and suspects, conducting field searches, obtaining search warrants, preparing case files, and providing expert testimony.
Occupational fraud is an important issue in state government, and financial investigations can be used to identify current and former employees of a public agency who are using their position for personal enrichment or illegal activities. A thorough financial investigation can uncover these issues by searching for clues in open-source data, analyzing transaction patterns, reviewing business documents, and conducting walkthroughs or forensic audits.
The goal of a financial investigation is to confiscate criminal proceeds and deprive the perpetrators of their illicit earnings. It is considered an integral part of a financial crimes investigation, and leading experts recommend that it should be incorporated into every phase of an anti-corruption or anti-money laundering initiative.