Asset tracing: to recover the loss and present the evidence

Asset tracing is a part of the financial investigation that involves tracing and identifying the assets of a particular entity or individual. Why would an entity or individual need asset tracing?

Let us say a company is facing a situation in which one of its employees is suspected as a potential fraudster of embezzlement. While the suspect might say that he has zero money and asset, the company could not just believe it. In order to get the evidence and to recover the loss, the company decides to trace and identify if there are assets linked to the stolen money.

Other than to get circumstantial evidence in cases of embezzlement (and other types of frauds and financial crimes), asset tracing brings benefits which are in a situation of loan or credit default, in company valuations and assessments in cases of partnerships, mergers, and acquisitions.

Then, what kind of asset that can be traced? The assets include real estate, undeclared bank accounts, inventory, vehicles, stocks, intellectual property rights, company shareholdings, and other business interests, and others.

As asset tracing is a daunting task that takes time, energy, and particular skills, it is not a suggestion that the company runs the tracing by itself. However, should the company runs the ‘DIY’ tracing itself, there are risks that should be taken into consideration:

– The company could accidentally tip the people who were involved with the case when asking around and they will put more effort into covering their traces.

– It might put the company in a disadvantageous position to win the case and regain the asset or recover the loss for not presenting enough evidence or not presenting the evidence in a legally compliant way.

Therefore, hiring a third party with proven competency and experience in asset tracing is prudent. Integrity has extensive experience in tracing assets particularly of individuals or companies who might be evading their creditors. With competent investigators and thorough methodology, Integrity delivers reliable results. Contact us for further information about asset tracing and other compliance services.