Financial Investigations

Kroll’s Financial Investigations practice provides additional expert resources to corporate clients who are looking to enhance their fraud and corruption prevention and detection capabilities, and to stay current with evolving strategies in corporate compliance.

We provide litigation support to lawyers and their clients through expert forensic accounting, data analytics, and asset tracing and recovery services, often in support of highly complex, cross-border frauds and regulatory investigations.

We frequently work with financial institutions, regulators and law enforcement authorities in frontier and emerging markets, providing independent expertise in conducting fraud and money laundering investigations and helping to implement best practices to detect fraud and financial crime before it occurs.

Because of our investigative expertise and independence, we are frequently hired to conduct high-profile, on-site forensic audits of government institutions worldwide—often at the request of the international donor community and multilateral organizations such as the International Monetary Fund (IMF) and the World Bank.  

Case Study – Multi-Jurisdictional Fraud Investigation

A criminal group successfully induced a senior employee of a multinational corporation’s foreign subsidiary to transfer hundreds of millions of dollars in multiple transactions to fake beneficiaries globally. Kroll worked alongside the multinational’s external legal counsel to provide a full range of forensic investigative support. Our work, which spanned 20 jurisdictions, included forensic accounting and data analytics of huge volumes of transactional data; social media mining and analysis to establish connections; forensic analysis of computers and mobile phones; navigating the dark web for criminal network activity tied to the fraud; surveillance of involved parties; and detailed external research of public source material. The insights we gathered allowed us to trace the proceeds of the fraud across hundreds of counterparties and multiple layers of shell companies and beneficiaries, supporting actions for further disclosure in the relevant jurisdictions.

Case Study – Financial Investigation on Behalf of a European Bank

A European-based bank received a formal notice from the Dutch Central Bank raising concerns that the bank had facilitated transactions connected to bribery and corruption. 

To comply with the notice, the bank engaged Kroll to investigate the transactions and identify weaknesses in the bank’s bribery and corruption compliance and risk management infrastructure. Our on-site investigation, which included a detailed document review and fact-finding interviews, culminated in an evidence-based report presented to the Central Bank.

As a result of our findings, the local bank initiated several steps to improve its policies and procedures, its internal training program and its ability to proactively investigate suspicious activity.

Case Study – Investigating Allegations of Money Laundering at a Cypriot Bank

After the U.S. Treasury Department made allegations of money laundering against a Cypriot bank, the Central Bank of Cyprus (CBC) engaged Kroll to investigate. Kroll worked alongside the CBC team, sharing findings and combining capabilities to both resolve the matter in question and to enhance the ability of the CBC’s Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) team.We presented a forensic report of our interim findings to the Governor of the CBC as well as the office of the Attorney General of Cyprus and its money-laundering unit. Broadly, we also advised the CBC on data analytics and risk-based review techniques to assess the fraud risk in claims made under its deposit protection program.