Asset Recovery
Civil fraud is a serious issue that can have devastating financial consequences for individuals and businesses alike. In the UK, there are robust legal frameworks in place to address such matters, including specific measures for asset recovery.
Civil fraud differs from criminal fraud in that the burden of proof is lower. Instead of “beyond reasonable doubt,” it’s “on the balance of probabilities.” While this may seem less stringent, proving fraud can still be complex and requires substantial evidence.
Common types of civil fraud include:
Once fraud has been established, the next step is often to recover the lost assets. This is where asset recovery comes into play. It involves tracing, freezing, and ultimately recovering assets that have been fraudulently obtained.
Key steps in asset recovery include:
Complex fraud cases often require the expertise of professionals, such as:
Recovering assets from fraudsters can be challenging. Assets may be hidden, transferred to offshore jurisdictions, or dissipated before they can be recovered. Additionally, the legal process can be lengthy and expensive.
It’s crucial to seek legal advice early on to protect your interests and increase the chances of a successful recovery.
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