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FraudNet’s Civil Action Recovery Team Approach
FraudNet was designed around the concept that international fraud and corruption require concerted, multi-jurisdictional, private expertise and action over and above traditional law enforcement. The challenge with relying on law enforcement is not their lack of preparation, but rather, that the authorities’ focus is on punishment of the criminal and occasionally forfeiture of crime proceeds, not on reparation for the victim. Furthermore, law enforcement’s international reach is constrained by the formalities of international law. Finally, although well prepared, most law enforcement agencies lack the resources to react quickly enough to freeze assets before they are transferred beyond the authorities’ jurisdiction.
Therefore, even though fraud and corruption are criminal acts, merely relying on the actions of the authorities is not enough to obtain full or significant compensation for victims.Fortunately, this is the singular and specialized focus of FraudNet teams that not only locate and recover fraud proceeds, but also pursue replacement assets by obtaining compensation from financial institutions and other professionals who may be held liable for breach of fiduciary and other duties under the law. FraudNet teams utilize all available and appropriate legal remedies at their disposal, which, depending on the jurisdiction, may be exclusively civil remedies, or include suing for damages in criminal proceedings or, in many cases, an international blend of civil and criminal remedies.
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