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30 Cards in this Set
- Front
- Back
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Financial Investigation is |
information
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Questions facing an investigator:
(2) |
1. Where to look
2. What to look for |
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Sources of information
(7) |
1. Subject of Investigation
2. Friends & Business Associates 3. Public Records 4. Business Records 5. Government Records 6. Financial Institution Records 7. Informants |
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Public records
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Laws and regulations require that records of certain financial transactoins be disclosed and subject to review by anyone who wishes to inquire. These records are pubic records
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Examples of public records
(8) |
1. Real Estate
2. Corporate 3. Partnerships 4. Trusts 5. Assumed Name Indexes 6. Court Records 7. Uniform Commercial Code Filing (UCC) 8. Better Business Bureau / Chamber of Commerce |
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Real estate records
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Normally maintained in the couty where the real estate itself is located
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Corporate records
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Usually the articles of incorporation, annual reports on franchise taxes, sometimes bylaws, and financial statements (if publicly traded) are available
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Partnerships
(2) |
1. general partnerships: usually no filings
2. limited partnership: filings may be available |
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Trust
(df) |
A legal entity in which a certain person or entity, known as the trustee, holds and administers property on behalf of others (the beneficiaries)
*registration of trust is required by some states |
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Court records
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Transcripts of hearings and legal decisions in criminal and civil lawsuits are maintained at the Clerk of Courts office
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Assumed or fictitious name indexes
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If a business operates in a different name than the one shown on their incorportion docs, they must register their "assumed" or ficticious name.
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Better Business Bureau
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Maintains information concerning businesses
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Chamber of commerce
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Maintains info on commercial and industrial establishments within its cicinity as well as info on trade and travel
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Uniform Commercial Code (UCC) filings
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Filings under the UCC are made at the state and county level and contain info regarding chattel (non real estate) mortgages
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Business records:
(3) |
1 Escrow Companies: Real Estate Purchase
2. Car Dealers: Vehicle Purchase 3. Retail Stores: Jewelry, Electronic Equipment, etc. |
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Currency transaction reports (CTRs)
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Must be filed by financial instittutions for all transactions involving cash in excess of $10,000
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Suspicious activity reports (SARs)
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Must be filed by financial institutions on transactions of at least $5,000 that have no appararent business purpose or case them to suspect money laundering or structuring
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Currency and monetary instrument reports (CMIRs)
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Required to be filed by individuals who transport monetary instruments of more than $10,000 into or out of the US
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Foreign bank account reports (FBARs)
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Required to be filed by individuals who have a financial interest in, signature authority on, or other authority over financial accounts in foreign countries
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Report of cash payments over $10,000 received in a trade or business
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Required to be fiiled by businesses that receive cash in excess of $10,000 in one or more related transactions as part of their business
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Financial crimes enforcement network (FinCEN)
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1. establihsed by the US dept of treasury
2. collects, analyzes, and disseminates info to fed, state, and local law enforcement in an effort to detect and prevent financial crimes |
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national crime information center (NCIC)
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A repository of data relating to crime and criminals gathered by local, state and federal law enforcement agencies
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National law enforcement telecommunications system (NLETS)
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A computerized communication network linking all law enforcement and criminal justice agencies in the US, Puerto Rico, and Canada
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El paso intelligence center (EPIC)
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A multi-agency enterprise that collects, processes, and disseminates intelligence information on illicit drug and currency movement, alien smuggling, weapons trafficking, and related activity in support of ongoing fiend investigations
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International criminal police org (INTERPOL)
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An international police agency with bureaus set up in member countries
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IRS national computer center
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Maintains tax records on all known taxpayers
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Treasurery enforcement communications system (TECS)
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A dept of treasury system managed by Customs that is designed to provide access to a large database of info about suspects and to interface with other law enforcement systems
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Government records: local agencies
(2) |
1. police
2. business license |
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Government records: state agencies
(5) |
1. Secretary of State
2. Attorney General 3. Taxing Agencies 4. DMV 5. Employment |
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Government records: federal agencies
(2) |
1. IRS
2. Social Security |
