Gathering Information Flashcards
What are common techniques for hiding assets?
transferring assets into foreign trusts,
overpaying taxes
prepaying on a home mortgage
obtaining a life insurance policy
and transferring assets into someone else’s name.
What is a letter rogatory?
A formal request by the courts of one country seeking judicial assistance from the courts of another country
also permit formal communication between the judiciary, a prosecutor, or a law enforcement official of one country and their counterpart in another country.
Asset hiders generally prefer the financial vehicles they use to have what characteristics ?
want products that are difficult to trace or untraceable
want products that are secure and accessible
want products that are liquid.
What are the exceptions for allowing the processing and dissemination of credit and personal data?
The individual has given consent.
It is necessary for the extension of credit or to enter into a contract with the subject.
It is necessary to protect the subject’s vital interest.
It is necessary to comply with other legal requirements.
An employer is conducting a background check for hiring or other employment purposes (consent is still required in many jurisdictions).
It is necessary to serve the public interest.
what is The net-worth method?
(or comparative net-worth analysis)
used to prove illicit income circumstantially by showing that a person’s assets or expenditures for a given period exceed that which can be accounted for from known or admitted legitimate sources of income
What situations have covert operations traditionally worked well
There is reliable information about criminal activity or asset losses, but there is insufficient detail for prevention or apprehension.
Losses are known to be occurring in an area, but there is no information as to how they are occurring or who is responsible.
It is desirable to gather information concerning personal relationships or to identify the contacts made with or by certain people.
It is desirable to compare actual practices with supposed or required practices.
It is important to obtain information in an indirect manner from people believed to possess it.
Methods to trace assets?
The expenditures method
The bank deposits method
The asset method
The asset method
allows the fraud examiner to prove income circumstantially by showing that the subject’s assets for a given period exceed those that can be accounted for from known or admitted sources of income
use the asset method when it is suspected that the subject has accumulated wealth and acquired assets with illicit proceeds
The expenditures method
(also known as the sources and application of funds method)
compares the suspect’s known expenditures and known sources of funds during a given period of time.
this analysis seeks to quantify the cost of the subject’s lifestyle and determine whether the subject’s reported income is sufficient to support his lifestyle.
best used when the subject spends illicit income on consumables (e.g., travel and entertainment)
The bank deposits method
primary method of proof when most of the subject’s income is deposited and the subject’s books and records are unavailable, withheld, incomplete, or maintained on a cash basis.
What is the DEEP WEB?
(also known as the invisible Web)
Web content that is not indexed by standard search engines.
Why does the DEEP WEB EXIST?
These deep Web resources include:
- websites without any links pointing to them
- certain file formats that search engines cannot handle
- websites that have been blocked from Web crawler access
- password-protected websites
- information stored in databases.
What is the WAYBACK MACHINE?
allows users to see archived versions of Web pages throughout time.
can use to find historical information, such as:
- A photo posted on a website that has been removed
- Content, views, writing, and opinions rescinded by an author
- A company’s old job ads, statements, affiliations, or product lines
actual investigation to trace transactions should involve what elements
Collect information.
Profile the subject (i.e., assemble the personal—financial and behavioral—profile).
Review information for leads and prioritize leads.
Trace the illicit transactions.
What to consider when computing subjects net worth?
All assets should be valued at cost, not fair market value.
Subsequent appreciation or depreciation of assets should be ignored.
The amount of funds available to the subject from legitimate sources should be estimated or computed generously.
The subject should be interviewed to identify all alleged sources of funds and to negate defenses that he might raise later.
