Investigating & Recovering Hidden Money & Other Assets
An asset search covering a number of countries is sometimes necessary if monies the subject of a divorce, bankruptcy, or debt collection proceeding are hidden in a money laundering circuit. This can be true because “[l]arge-scale money laundering schemes invariably contain cross-border elements,” as mentioned by the Financial Action Task Force’s webpage.
Domestic…
Money laundering circuits sometimes operate in the U.S. through domestic bank accounts used as “laundering links”. It is also true that money laundering circuits washing vast sums of money, will typically do so through offshore bank accounts located in tax havens like Switzerland, Luxembourg, the Cayman Islands, etc. Such was the case of one divorcing…
The Financial Intelligence Units of the Egmont Group, exchange information worldwide to track terrorist financing and fight crimes like money laundering. Their exchange of information occurs pursuant to the Egmont Group’s Principles for Information Exchange (June 2001) and Best Practices for the Exchange of Information (updated June 2004). Sometimes Financial Intelligence Units (“FIU’s”) share information…