Philippines Financial Investigations: A Vital Tool in Uncovering Criminal Activity
Financial investigations play a crucial role in determining and documenting the movement of money, ultimately providing proof of criminal activity. By linking the source of funds to the recipient and pinpointing the time and place of deposit, financial investigators can uncover evidence of illegal activities.
Types of Criminal Activity
There are two primary categories of criminal activity: crimes against people, motivated by passion, and crimes against property, driven by greed. The latter requires specialized expertise and knowledge, making it essential to have a skilled investigator on board.
Crimes Against Property
Crimes against property involve illegal activities aimed at financial gain, such as:
- Fraud: falsely representing information to deceive another person
- Tax Evasion: falsifying information or failing to pay taxes
- Bribery: offering valuable items to influence decisions or actions
- Embezzlement: using entrusted funds for personal gain
- Larceny: unlawfully taking someone else’s money or property
- Forgery: creating fake documents or checks to deceive others
The Purpose of Financial Investigations
The purpose of financial investigations is to reconstruct the events surrounding the movement of funds during the commission of a crime. For instance, if an employer suspects that their accountant is embezzling funds, they can hire a financial investigator to:
- Identify which accounts are being targeted
- Determine when the theft occurred
- Pinpoint where the stolen money has been deposited
By piecing together this information, the investigator provides concrete evidence of the crime.
The Importance of Financial Investigations in the Philippines
Financial crimes remain a significant problem in the Philippines due to its reputation as one of the most corrupt countries in the world, according to Transparency International. The country’s involvement in international drug trafficking and high volume of overseas remittances from Overseas Filipino Workers also create an environment conducive to money laundering.
Given these circumstances, financial investigations have become a vital weapon against organized crime in the Philippines. Investigations can be conducted into public corruption, tax evasion, and other illicit activities.
Contact Orion Support Incorporated for Expert Assistance
If you suspect any of these crimes affecting your organization, do not hesitate to contact Orion Support Incorporated for expert assistance.