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30 Cards in this Set

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Financial Investigation
is
information
Questions facing an investigator:
(2)
1. Where to look
2. What to look for
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
Public records
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
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
Real estate records
Normally maintained in the couty where the real estate itself is located
Corporate records
Usually the articles of incorporation, annual reports on franchise taxes, sometimes bylaws, and financial statements (if publicly traded) are available
Partnerships
(2)
1. general partnerships: usually no filings
2. limited partnership: filings may be available
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
Court records
Transcripts of hearings and legal decisions in criminal and civil lawsuits are maintained at the Clerk of Courts office
Assumed or fictitious name indexes
If a business operates in a different name than the one shown on their incorportion docs, they must register their "assumed" or ficticious name.
Better Business Bureau
Maintains information concerning businesses
Chamber of commerce
Maintains info on commercial and industrial establishments within its cicinity as well as info on trade and travel
Uniform Commercial Code (UCC) filings
Filings under the UCC are made at the state and county level and contain info regarding chattel (non real estate) mortgages
Business records:
(3)
1 Escrow Companies: Real Estate Purchase
2. Car Dealers: Vehicle Purchase
3. Retail Stores: Jewelry, Electronic Equipment, etc.
Currency transaction reports (CTRs)
Must be filed by financial instittutions for all transactions involving cash in excess of $10,000
Suspicious activity reports (SARs)
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
Currency and monetary instrument reports (CMIRs)
Required to be filed by individuals who transport monetary instruments of more than $10,000 into or out of the US
Foreign bank account reports (FBARs)
Required to be filed by individuals who have a financial interest in, signature authority on, or other authority over financial accounts in foreign countries
Report of cash payments over $10,000 received in a trade or business
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
Financial crimes enforcement network (FinCEN)
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
national crime information center (NCIC)
A repository of data relating to crime and criminals gathered by local, state and federal law enforcement agencies
National law enforcement telecommunications system (NLETS)
A computerized communication network linking all law enforcement and criminal justice agencies in the US, Puerto Rico, and Canada
El paso intelligence center (EPIC)
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
International criminal police org (INTERPOL)
An international police agency with bureaus set up in member countries
IRS national computer center
Maintains tax records on all known taxpayers
Treasurery enforcement communications system (TECS)
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
Government records: local agencies
(2)
1. police
2. business license
Government records: state agencies
(5)
1. Secretary of State
2. Attorney General
3. Taxing Agencies
4. DMV
5. Employment
Government records: federal agencies
(2)
1. IRS
2. Social Security