Below is a list of red flags. Recognizing the red flags can help you detect assets your adversary has hidden from you. I first published the list in 2007 at my article “Asset Search Indicia For Divorce, Debt Collection & Bankruptcy.” The list consists of common asset concealment methods:
- Asset Protection Via Nevada, Wyoming or Delaware.
- Large Amounts Of Portable Valuable Commodities (Gold, Diamonds, etc.).
- False Invoicing In A Trade Or Business (Trade-Based Money Laundering).
- Offshore Asset Protection Services.
- Foreign / Offshore Bank Accounts.
- Multiple Jurisdictions.
- Fraudulent Asset Transfers / Conveyances.
- Shell Companies.
- Sham Trusts.
- Nominees (i.e. Intermediaries).
- High-Risk Geographical Locations.
- Bearer Shares.
- Informal Banking Systems, (Hawala, Hui Kuan, etc.).
- Bulk-Cash Smuggling.
- Internet Or Other Gambling Activities.
- Structuring Bank Deposits, (a.k.a. “Smurfing”).
- Offshore Credit Cards.
- Misuse Of Businesses (i.e. Commingling Personal With Business Assets).
Image: Davi Sales Batista/Shutterstock.com
Copyright 2007- 2016 Fred L. Abrams