Asset Tracing – What And Why?

Asset tracing requires a lot of expertise and a reliable network of contacts to be done properly. You’ve probably seen variations of asset tracing in films where private investigators, law enforcers, or lawyers will follow a person’s paper trail or money trail to convict them of criminal activity. Asset tracing is a process where a team of various investigators follow that trail by launching financial investigations that can link an individual to a crime that they may be being accused of. It’s a popular practice in white collar crime (financially motivated, nonviolent crimes) cases because it’s one of the quickest ways to catch the crook. It’s nearly impossible to cover up a paper trail, and even paying in cash for everything doesn’t ensure that someone won’t remember you passing through – or that you won’t be caught on CCTV somewhere.

What Is Asset Tracing Used For?

These investigations help to prove the crime committed by the person in question by providing valuable evidence that may not have been highlighted before the investigation was launched. This evidence can validate the information gathered from informants and undercover officers, as well as helping to identify new witnesses for the trial, and verifying any testimonies that have been given.

A financial investigation should be one of the first actions taken during a criminal case. It can take a long time to gather the necessary documents and approval needed from a judge, so the longer investigators and lawyers wait, the less likely they are to gain the evidence they need.

What Assets Can Be Traced?

Assets are defined as everything that is owned by a company or a single individual. Everything from real estate, stocks and shares, a person’s possessions, company assets, and even just money counts as an asset. The easiest way to think about assets is to ask yourself if the subject in question has any cash value; if the answer is yes, it’s an asset to that person. When someone “liquidates” an asset, they are just selling a particular asset to gain physical money from it which they can use.

Some assets can be hidden overseas, which makes the job of an investigators a fair bit more difficult. This is why it’s so important to launch a financial investigation as soon as possible when someone is being convicted. The faster a team can be given the go-ahead to start digging, the sooner the evidence will come to light.

To put it simply, asset tracing is the act of identifying a person’s valuable property.

What Is Involved In Asset Tracing?

First, a subject profile of the person in question is drawn. This is a list of documents, business records, personal records and details, and friends and family who may know about the person. Not everyone who is charged with a white collar crime is guilty, so it’s vital that a defendant’s process is started as quickly as possible if there is any indication of innocence. Next, there would be witness interviews, and interviews with close friends, family, and associates. The process from there is a lot of leg work and paperwork, but it all comes down to finding the evidence needed.

At Debtcol, we work closely with business owners who need to track down and locate assets that have been stolen or gone missing. If you suspect an employee of asset theft, asset tracing can help you prove, or disprove your theory, and provide evidence if needed. For more information, please just get in touch today.