Fraud

'One-off' asset recovery across borders – Forcing third parties, facilitators and fronts to pay when the fraudster has fled

The collapse of a financial crime or fraud scheme is merely the beginning of a long road the victims must travel to recover their stolen funds. In most cases, the fraudster or other financial criminal has fled and the stolen assets are well-hidden or have been dissipated. A growing body of tools and legal precepts has arisen in recent years to help victims recover assets from third parties. This is a process that IAAR calls “one-off” recovery.

Digital sleuth shares top strategies for the computer age

Author: 
Steve Rambam
President and CEO, Pallorium Inc.
Date: 
02/22/2012

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This was recorded on September 26, 2011.  Expert digital investigator Steve Rambam of Pallorium Inc. spoke with IAAR editor David Quinones about the modern world of virtual investigations, mobile devices, the death of privacy and what it means for asset recovery* professionals.

Follow the money, find the fraud

By: 
Tracy L. Coenen, CPA, CFF
Date: 
09/19/2011
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Forensic accounting has been around for decades, but only in the last 10 years have people become aware of the profession on a wide scale. In this article, originally appearing in the Wisconsin Law Journal, IAAR expert speaker Tracy L. Coenen gives her best practices to tracing frauds. Download now...

Recovering the Stolen National Treasures Taken by Dictators in the Middle East and North Africa

From the 2011 Cross-Border Asset Tracing and Recovery Conference, a panel of experts teaches you how to hunt the proceeds of corruption in the Middle East and North Africa region. This video, like all Asset Recovery* Watch TV videos, is usually for IAAR Premium Members only. But we have unlocked this video so that you can preview some Premium Member Benefits. IAAR has hours of video, audio and multimedia training like this, as well as resources and reference materials to help you be the best asset recovery* specialist you can be.

SEC needs more clout, not less

By: 
IAAR Staff
Date: 
08/05/2011
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At least one lawmaker seems to want the Securities and Exchange Commission to become irrelevant. The regulator has had its problems. But a Republican bid to reshape it seems meant to hinder, not help. There’s room for improvement, but with its duties growing, the watchdog needs more staff, more money and a buffer against Congress. The New York Times, Thursday, August 4, 2011

SEC Freezes Assets of 3 Firms Accused of Insider Trading

By: 
IAAR Staff
Date: 
07/19/2011
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A Manhattan federal judge has frozen the assets of three Swiss asset managers accused of illegally profiting from trades made ahead of the $1.2 billion sale of Arch Chemicals to the Lonza Group, the Securities and Exchange Commission announced on Monday. The S.E.C.

Apartheid asset recovery challenge illustrates retaliation is the norm for corruption-fighters in South Africa

By: 
David Quinones
Date: 
07/18/2011

What does a declassified British security service's report have to do with the South African government's utter lack of political will to pursue corruption proceeds? Many onlookers are saying it is indicative of an endemic problem experienced by those who try to recover assets on behalf of the country. Meanwhile, billions of dollars in potential restitution hang in the balance.

Investigating corruption? Get ready to be investigated yourself.

Swiss block Syrian assets worth $32 million

By: 
IAAR Staff
Date: 
07/05/2011
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Switzerland has blocked Syrian assets worth 27 million Swiss francs ($32 million), Swiss news agency SDA reported on Sunday, citing a Swiss newspaper report that the Swiss Secretariat for Economics (SECO) confirmed. The news agency said SECO declined to comment on whether the assets of President Bashar al-Assad had been frozen. Reuters, Sunday, July 3, 2011

UK Bribery Act, Day 1: Podcast with a key architect of the Act

Author: 
Charles Monteith
Counsel, White & Case
Date: 
07/01/2011

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After months of debate, acrimony and delay the UK Bribery Act was finally put into force today, and while the business system as we know it in London has not collapsed, there is still anxiety in the air. IAAR Editor David Quinones caught up with White & Case's Charles Monteith, former Head of Legal and Operational Assurance at the UK Serious Fraud Office and the only individual to contribute to the drafting of every section of the Act, to discuss the potential impact of the legislation. How will it affect you? What do you need to know?

HSBC seeks dismissal of Madoff trustee's lawsuit

By: 
IAAR Staff
Date: 
06/24/2011
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HSBC asked a judge to dismiss a $9 billion lawsuit by the trustee liquidating Bernard Madoff’s firm, saying he isn’t allowed by law to bring such cases on behalf of the confidence man’s former customers. Irving Picard, the trustee, sued HSBC and a dozen so-called feeder funds for $9 billion in December, accusing them of aiding Madoff’s fraud. Bloomberg, Friday, June 24, 2011

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