A Financial Intelligence Unit (“FIU”) tracks hidden assets by “following the money.” There is always a money trail when assets are hidden and money is laundered. One way FIUs follow a money trail is by collecting suspicious activity reports from banks about bank customers. FIUs can follow a bank customer’s money trail by collaborating with other FIUs across the globe.
During your asset search you might also have to follow your adversary’s money trail. You may be able to follow your adversary’s money trail 3 ways:
- Human Intelligence: You might possibly detect a money trail by gathering information from a tipster. Tips can come from a disgruntled: employee; paramour; ex-wife; business partner; family member; bookkeeper; etc. Your lawyer or your lawyer’s private investigator, might try to interview the tipster for you.
- Computer-based research: Private investigators and some lawyers access databases of public records. Research at the databases sometimes leads to a money trail. These databases are LexisNexis SmartLinx, TranUnion TLOxp, IRBsearch, Red Violet’s IDI, etc. The databases especially help identify assets titled directly in your adversary’s name.
- Legal Remedies: If you litigate against your adversary, you may have legal remedies available to you. These legal remedies can range from deposing your adversary to seeking letters rogatory to gather evidence from offshore bank witnesses.
Video: Courtesy of The Egmont Group of FIUs
Copyright 2020 Fred L. Abrams