Fraud & asset tracing
If your business becomes the victim of fraud, you need to act immediately to protect it and to give yourself the best chance of recovering lost assets.The steps you take in the first minutes and hours from the suspicion being raised are crucial to the outcome. Download our Fraud Checklist here.
Recovering your money or other property lost to fraudulent activity requires specialist expertise with the skills and a speedy response. We can help you to identify areas of risk and to design ways to minimise them. We can also help you to implement reporting and investigation policies designed to give you the best start if a fraud arises.
If the worst does happen…
- It is vital to gather evidence as quickly and quietly as possible. This is probably the most vital step of all and there are many pitfalls. Clients waste tens of thousands of pounds in fees downstream and risk losing an otherwise strong case by getting this wrong. We would advise that investing a pound in good advice at this stage will save significantly more down the track.
- Once you have built an evidential case, you need to set clear commercial objectives on what you want to achieve, be it recovery of loss, deterrence, criminal charges or just keeping the fraud out of the public domain.
- You then need to implement a strategy to achieve those objectives. Not every case will involve taking legal proceedings through solicitors in the UK, but where it does, we will act immediately and decisively on your behalf.
If you require assistance in tracing and recovering assets, then this can be particularly challenging, especially where assets or funds have already been laundered, moved on to a third party, or moved abroad.
We are highly experienced in advising on fraud and suspected fraud. We've managed a large number of fraud cases, successfully obtaining freezing injunctions and executing search orders, often across several jurisdictions. We have a track record of recovering losses, and, where that is unlikely to be possible, in advising you on alternative strategies at an early stage.
We manage the investigation process for you and, where necessary, employ the help of other specialist advisers including forensic accountants and IT specialists, and private investigators. We help you to set clear and realistic commercial objectives, remembering the balance of cost and inconvenience of proceedings against likelihood of recovery.
And, once the case is over, we offer incisive, practical advice and training on fraud investigation and prevention to help you avoid the same thing happening again.
Identity fraud has attracted particular attention in recent years, with new and increasingly intelligent means of attack, such as phishing, hitting the headlines on a regular basis.
Much of the focus has been on the personal risk of ID fraud, but it also presents a serious problem for organisations.
We have deep-rooted knowledge of ID fraud and have contributed to two fact sheets for the Fraud Advisory Panel:
For more information on fraud & asset tracing and to start a conversation on how we can help you please contact Andrew Frake, Associate, Dispute Resolution.