Domestic asset tracing: Identifying, locating and freezing stolen and hidden assets.

ABSTRACT:  The rate of recovery of stolen and hidden assets from fraud and other schemes is low. This paper explores two steps of the investigative sequence in pursuing domestic (onshore) asset recovery when the objective is to recover specific assets (or their equivalent value) lost to fraud or hidden for some other purpose: asset identification and location (tracing) and asset freezing. Before pursuing asset tracing and freezing, an attorney, a forensic accountant, and a client must consider various factors, including the cost and likelihood of recovery, as well as whether there are third parties (e.g., banks, lawyers, and accountants) from whom recovery may be sought. It is necessary to obtain certain basic identifying information for any suspect or target, as well as their associates, relatives, and friends. This information can be gleaned from electronic databases, surveillance, covert operations, interviews, and other sources. This article also covers the places where assets can be hidden, as well a...