Forensic Accounting: Searching for Hidden Assets

Learning Objectives

• To explain why people, hide assets.
• To review various methods for finding hidden assets.
• To review the methods for confiscating assets.
• To identify methods for finding hidden income.

Course Description

Cases of financial fraud often focus on the core issue of where the money went. Successfully carrying out a fraud scheme involves not only taking the money but covering up the fraud and hiding the money trail.  But skilled financial investigators know there is always a trail, and while the money may or may not be recovered, it can be located.

Cases involving allegations of security fraud, money laundering, misappropriation of assets, income tax fraud, and Foreign Corrupt Practices Act (FCPA) violations require investigators to follow a money trail. However, sometimes it is difficult to know where to start, or where to continue when you’ve come to an apparent dead end.

Persons engaged in fraud and illegal activity have long used several methods to hide ill-gotten assets. Today, forensic investigators have powerful new technological tools to track and uncover these assets. Some specialized techniques may require digital forensic specialists; however, more basic options are also effective. Whether the suspected fraudster is a business partner, an employee, or some other related party, the process for uncovering hidden accounts tends to follow a similar path.

If you are working in the forensic accounting field at some time in your career it may be necessary to search for hidden assets.

The purpose of this CPE webinar is to explain how forensic accountants look at the big picture, both financially and by understanding past behaviors, to uncover items that may help you or your client.

This Auditing CPE course is designed to review the process to find hidden assets and covers the following major topics:

• Why people hide assets and how they commonly hide them
• Methods for searching for hidden assets as part of forensic accounting engagement
• How to confiscate the assets once they are located
• Legal issues involved with searching and seizing assets

Overview

• Why people hide assets?

  2 mins
• What is virtual currency?

  12 mins
• Back trace information

  28 mins
• Company information

  34 mins
• Looking for stolen assets

  49 mins
• Archived public records

  70 mins
• Interviewing suspects

  82 mins