Tracing and Recovering Fraud Losses

Introduction to Tracing and Recovering Fraud Losses 

This opening session will introduce you to asset recovery. The topics covered in this session will include defining assets, why people hide assets, hidden versus known assets, hiding versus money laundering, ways assets are hidden, and the steps you must take to expose and identify the methods of uncovering hidden controls over, and interest in, property.

Sources of Information 

This session explores some common sources of information that can help identify assets. It examines ways to search public and non-public records and discusses how different types of information can lead to a person or entity’s property.

Using the Internet and Social Media to Locate People and Assets 

Learn how to use Internet services and websites, such as social networking sites and other information resources, to obtain information about assets, people, businesses and fraud in general. Also, you will learn how to determine the location of a website’s server and a five-step approach to conducting an Internet investigation.

Using Financial Records to Locate Hidden Assets 

Financial records are not only used as evidence for fraud, but also can be used to identify witnesses, criminal assets, localities where assets are stored, and more. This session will examine common types of financial records valuable to a fraud examination, ways to obtain and review financial records, and how to use financial records to locate assets.

Using Data Analytics to Locate Hidden Assets 

The use of data analytics to identify trends, patterns, anomalies and exceptions within data is an effective approach to combat fraud and such tactics are especially useful when fraud is hidden in large data volumes and manual checks are insufficient. This session will introduce you to the basics of using data analysis techniques to find hidden assets.

Legal Aspects and Considerations 

When conducting investigations involving asset searches, you must be prepared to address various legal issues that occur in this complex work. This session discusses some key legal issues fraud examiners may encounter in such investigations such as, laws governing access to information, the legal avenues of recovery, and more.

Non-traditional Recovery Options 

Fraud examiners should be aware of alternative recovery options to recognize potential sources of recovery when conducting an examination. Learn non-traditional sources of recovery including: recovery from third parties, the theft loss tax deduction, receivership claims, fair funds, and recovery under insurance policies.

Enforcing a Judgment 

A judgment is a decision by a court of law that resolves a controversy and determines the rights and obligations of the parties. This session will examine common enforcement issues and discuss procedures for enforcing money and non-money judgments, as well as some practical issues and questions that can arise in fraud recovery efforts.

Finding and Seizing Assets Held Abroad 

Locating and recovering assets sited abroad is a slow, arduous process that may take months or years due to the dependence on foreign assistance, which can be hindered by legal and cultural differences. This session will provide guidelines for fraud examiners seeking to find and recover assets stored abroad.

Case Studies 

Observe and analyze two case studies designed to help you apply the course material to more real-world investigations and to expose you to some of the practical implications of the course material.