Asset Tracing

The Tenet Forensic team assists in collecting information on individuals and legal entities’ assets in various countries, as well as in tracing movements of assets and transfers of title.

Our efforts go beyond just a formal review of official registers for the individual or entity in question. The Tenet team carries out an in-depth analysis of the lifestyle habits of the debtor (or other inspectee) and their immediate circle to identify ‘hidden’ assets controlled through non-transparent ownership structures and/or nominees. Where necessary, we engage an extensive network of professionals from various countries to refine the search strategy and collect data on assets that are not publicly available.

What we do

Ascertain the jurisdictions of presence of the inspectee and prepare a list of individuals and legal entities that may own assets for their benefit.
Perform a thorough search for assets using the developed source base and methodology.
Send enquiries to official registers in various countries to obtain excerpts and other documents confirming the rights to assets.
Analyse the prospects of recovering assets based on their country of location, structure, length of ownership, and some other factors.
Provide other information and analytical support services for asset search and recovery, including:
- analysing information on any change of ownership of the asset to further determine the prospects for challenging the transaction
- identifying any veiled beneficiaries of companies
- analysing available information on legal entities’ transactions to identify signs of asset withdrawal or deliberate bankruptcy
- monitoring changes to the title to assets to substantiate the imposition of a freezing order

Typical Cases

Clients most frequently request asset tracing services in the following cases:

Elaboration of a strategy for third-party debt or damage recovery prior to court proceedings / Recovery of assets as part of enforcement or bankruptcy procedures

Case description: A bank needs to identify assets of its debtor, and / or analyze the debtor’s current and historical liabilities and creditors to assess prospects of debt / loss recovery and form a recovery strategy, whether pre-trial or for judicial purposes.

Our response: Our team conducts complex analysis, which includes both in-depth research of publicly available sources and consultations with expert sources, in order to:

identifies the most relevant ESG requirements (stock ex, regulatory, ESG- ratings, peers). Prepares a list of ESG main requirements
study in details the debtor’s profile, collection of information on the debtor’s business, its geography, lifestyle.
cestablish individuals and legal entities associated with the debtor that may hold assets in the debtor’s interests;
establish a list of jurisdictions where the debtor or its associated persons may hold the assets;
search for the debtor’s assets (real estate, vehicles, shares in companies, etc.), as well as for the assets of the person related to the debtor in the relevant jurisdictions
consult with local experts in order to verify data obtained through public sources and collect additional information regarding the debtor’s assets, which was not disclosed publicly;
analyze the debtor’s largest creditors, including detailed review of active credit agreements;
analyze the debtor’s loans and assets under pledge through analysis of court databases, available corporate filings and other public sources, as well as consultations with experts in order to determine the priority of its creditors’ claims.

Benefits to the client:

Based on the results of our analysis, the client makes informed decisions on the possibility and necessity of the debtor’s assets recovery.
The client obtains information on assets to be included in ongoing recovery proceedings.

Information support for fraud investigations to help identify asset withdrawal routes

Case description: A client requests help in an investigation into the historical operations of its subsidiary company, and identification of cases of fraudulent activities and asset withdrawal by its former beneficiaries.

Our response: Our team uses the data provided by the client, publicly available sources and pay-for-access databases to:

Analyze the company’s largest debtors, including through the detailed review of the loan documentation; through the detailed review of the loan documentation;
Analyze transfers of credit funds provided to the company to the debtors under review;
conduct background checks on the debtors under review, identify their ultimate beneficial owners (UBOs) and verify their actual business activity;
check if the client’s former beneficiaries are affiliated with the debtors under review;
cooperate with the client’s lawyers in preparation of deliverables based on our analysis to form an adequate recovery strategy, and initiate the recovery proceedings.

Benefits to the client:

Based on the results of our analysis, the client makes informed decisions on the possibility and necessity of the debtor’s assets recovery.
The client obtains information on assets to be included in ongoing recovery proceedings.

Analysis of the lifestyle habits of an employee suspected of fraud (matching income against spendings)

Case description: A company needs to check whether the living standards of its employees suspected of fraudulent activities or corruption corresponds to their legal income.

Our response: Our team uses a wide range of public and non-public sources to:

Thoroughly study the profiles of targeted individuals identifying relevant personal information, including on their living standards and daily expenses;
Identify information on their assets, including real estate, vehicles, shares in companies, etc.
Estimate the approximate total value of the identified assets;
Collect information on the sources of wealth of the targeted individuals, other than employment at the client;
Compare information on the total value of identified assets and the standard of living of targeted individuals against information on their sources of wealth to determine if there are any discrepancies.

Benefits to the client:

Based on our findings, the company identifies red flags of corruption or fraud in the activities of its employees, conducts internal investigations, and make informed personnel decisions aimed at ensuring integrity of its business across.