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WHAT IS FRAUDNET? Global network of lawyers Created at the initiative of the ICC

WHAT IS FRAUDNET? Global network of lawyers Created at the initiative of the ICC Representing victims of fraud, corruption and commercial crime To trace and recover money, assets and proceeds of crime. International Chamber of Commerce “the world business organization” headquarters in Paris

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WHAT IS FRAUDNET? Global network of lawyers Created at the initiative of the ICC

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  1. WHAT IS FRAUDNET? • Global network of lawyers • Created at the initiative of the ICC • Representing victims of fraud, corruption and commercial crime • To trace and recover money, assets and proceeds of crime

  2. International Chamber of Commerce • “the world business organization” • headquarters in Paris • offices in more than 70 countries throughout the world • Commercial Crime Secretariat in London

  3. The Need: • Fraud and corruption are pervasive, complicated and invariably cross national boundaries • This makes redress and recovery harder • Money moves faster than victims can without sophisticated assistance • Victims do not know what to do, or who they can turn to for help • Fraud is a low priority for law enforcement Why Was FraudNet Created?

  4. The Plan: create an international network of lawyers that specialize in fraud, asset recovery and grand corruption Why Was FraudNet Created?

  5. Why was FraudNet created? The Result: a 24/7 international rapid deployment force for transnational asset recovery

  6. Who is FraudNet? • 56 members from 49 countries • All leading practitioners in fraud recovery and asset tracing • All immersed in fraud and recovery jurisprudence and legislation

  7. FraudNet’s Reach Europe Austria Ireland Finland Belgium Isle of Man Norway United Kingdom Italy Ukraine FranceJersey Cyprus Germany Liechtenstein Gibraltar Luxembourg Netherlands Spain Greece Switzerland Guernsey Poland

  8. FraudNet’s Reach The Middle East,Asia and Africa United Arab Emirates Hong Kong Israel Thailand India Mauritius Nigeria Pakistan Singapore

  9. FraudNet’s Reach Western Hemisphere Argentina Peru Bahamas St Kitts and Nevis Bermuda Mexico Brazil Uruguay British Virgin Islands USA Canada Cayman Islands Chile Costa Rica Guatemala Panama

  10. FraudNet’s Reach Pacific Australia New Zealand

  11. FraudNet Membership Criteria • Strict criteria set by members • Administered by Standards & Procedures Committee • Only experts with a clear track record are invited to join • Exceptional timely service • Highest ethical standards

  12. FraudNet Track Record • FraudNet members have been retained around the world in corruption and fraud cases • Recoveries in the hundreds of millions of dollars for victims

  13. Representative Cases for Governments • United Kingdom • Trinidad & Tobago • Antigua & Barbuda • Guatemala • Nigeria • Brazil

  14. FraudNet Approach The Team Approach • Legal Counsel • Investigator • Forensic Professionals

  15. FraudNet Approach • Stealth with Speed • Move diligently • Gags & Seals • Investigative Orders

  16. FraudNet Approach • Strategy • Managing multi-jurisdictional cases • Where to bring proceedings • Accountability

  17. FraudNet Approach • Specialized Tools • 28 USC 1782 • Other Disclosure Orders • Anton Piller/Banker’s Trust Orders

  18. Towards Justice Without Borders • Accountants in Cyprus and India have been charged by the SEC with failing to employ proper procedures which would have detected fraud • Increasing rights of investigation and disclosure • Extradition / Arrest Warrants

  19. FraudNet’s Value • 24/7 responsiveness • Local-point-of-contact service for victims • The resource of a global network of partners to investigate and take action against fraudsters in foreign jurisdictions • Increased odds of recovery • In appropriate cases, access to financial assistance in effecting recovery

  20. Training and technical assistance • Sharing experiences and identifying best practices Additional Value

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