Asset Recovery in Fraud Cases
In an article for Financier Worldwide, FTI Consulting’s Andrew Durant and Phil Allister discuss how fraudsters are adapting their techniques to conceal assets and the most effective asset tracing investigation strategies.
"A lot changed in 2020. The global pandemic has affected us all – how we work, how we shop, even how we communicate. We have adapted our lives in response to ‘the new normal’, so we should not be surprised that corporate fraud too is on the rise as fraudsters adapt their techniques. As technology makes the world smaller, it increases the opportunities for perpetrators to commit fraud and successfully conceal the proceeds. Fortunately, asset tracing techniques are also becoming more sophisticated, meaning that with the right team of experts, a successful recovery is an increasingly common result for victims.
Asset tracing can take many different forms. However, it has one ultimate central purpose: to recover misappropriated assets from those who have committed wrongdoing. As no two frauds are the same, it stands to reason that no two investigations should follow the same blueprint. While the exact approach will be determined by several factors, at its core there are two main streams of asset tracing available: internal and external."