Fulcrum Insights

This will very much depend on the jurisdictions where you believe assets may be hidden. Information accessibility differs significantly from country to country, so what might be publicly available in one jurisdiction, won’t necessarily be accessible in another. Jurisdictional research will also impact project cost and timescales. In order to properly manage client expectations you need to know from the outset what can be achieved.

‘’It is important to understand what information might be available’’

Some jurisdictions do not store records electronically which means remote access to information such as land and property registers is not always a possibility. Having a physical presence to provide local intelligence is a major benefit, particularly when tracing assets in emerging countries where hard data  

might be vague and misleading. Field intelligence can also be used as a means to provide visible evidence of current lifestyle and movable assets such as vehicles.

Asset concealment is often attempted by forming corporate entities in tax-friendly locations in an effort to mask ultimate beneficial ownership (UBO). Commonly used offshore tax havens include the Cayman Islands and British Virgin Islands (BVI), and nearshore Channel Islands. The U.S State of Delaware is also frequently utilised for this purpose. 

Such structures are generally incorporated by a nominee agent acting on behalf of the UBO, often only recording the nominee’s details on official documents. Offshore doesn’t necessarily mean that corporate data is completely beyond reach, it just means that limited or minimal information is usually recorded on company documentation. 

In securing all records available there is no guarantee that they will reveal links to UBO. However in some instances corporate shareholdings might be listed which can enable research to be expanded. It is often a ‘look see’ exercise to determine what is available, but nevertheless an important part of the investigation process which should not be overlooked.

Many information records can be accessed globally without leaving a search footprint. This is a common request when clients such as financial institutions are in ongoing debt workout negotiations and would prefer a covert assessment of an individual’s asset portfolio. However, it is not always possible to secure records in certain countries without providing written proof of debt or evidence of ongoing legal proceedings. 

Using land registers as an example; property ownership details are publicly available in the UK once an address has been identified. However, in countries such as Germany and Cyprus for instance, an official request for release of title/deeds records must be made to the local registry outlining a legitimate legal reason why the data is required. This clearly creates a search footprint.

A key component to achieving positive results in a global asset profiling exercise is knowing in advance what types of primary information is legally accessible in the jurisdictions of interest.

Non-performing loans (NPLs) present a significant challenge for banks and other financial institutions. 

When a borrower stops making payments, the problem is not always simply one of financial difficulty. In some cases, the borrower may have moved assets, transferred property, changed trading arrangements, concealed beneficial ownership, provided misleading information, or otherwise made recovery more difficult. 

For banks, investigating a non-performing loan can therefore require considerably more than conventional debt collection. Fulcrum Global Advisory can provide specialist intelligence, research and investigative support that helps a bank understand the borrower's current circumstances, identify assets and establish facts relevant to recovery. 

A bank will normally have substantial information about a borrower at the time a loan is granted. However, circumstances can change considerably between origination and default.

A business may have changed directors, ownership or trading premises. Property may have been sold or transferred. Companies may have been incorporated or dissolved. A borrower who was previously easy to locate may have changed address or moved operations.

This is where Fulcrum Global Advisory can add value.

Rather than simply asking whether a borrower has failed to pay, we can seek to establish:

• Where the borrower is currently located.
• What businesses or companies they are connected with.
• What assets or interests may be associated with the borrower.
• Whether assets have been transferred or disposed of.
• Who ultimately controls relevant companies or assets.
• Whether there are related parties or connected businesses.
• Whether information supplied to the bank remains accurate.
• What information may be relevant to potential civil recovery proceedings.

The objective is not to replace the bank's legal or recovery teams, but to provide them with better factual intelligence on which to base their decisions.

When a loan becomes seriously delinquent, the bank may need to establish what assets remain available to satisfy the debt. Depending on the circumstances, investigators may conduct lawful research into property ownership, corporate interests, directorships, business activities and other publicly or legitimately accessible information.

This can be particularly valuable where the apparent financial position of the borrower does not fully explain their circumstances.

For example, an investigation might identify:

1. A previously undisclosed connection to another company.
2. Property associated with the borrower or a related entity.
3. Changes in corporate ownership or directorships.
4. A business operating under a different trading name.
5. Evidence suggesting that an asset has been transferred to another party.
6. Connections between apparently independent companies or individuals.

The resulting intelligence can help a bank and its lawyers determine what further enquiries or legal remedies may be appropriate.

Borrower tracing is another important function.

Individuals and businesses can become difficult to locate following a default. A company may cease trading from its registered premises, while directors or guarantors may move elsewhere.

Fulcrum Global Advisory can conduct lawful tracing using specialist data platforms, analysing public records and corporate information and other legitimate sources.

This is particularly relevant where a bank needs to establish contact with a borrower, guarantor or other relevant individual before considering further recovery action.

International lending can create additional challenges. Borrowers, assets and related companies may be located in different countries, each with its own legal and regulatory framework.

Cross-border investigations may involve corporate research, asset verification, in-country human intelligence and jurisdiction specific public records analysis.

Fulcrum Global Advisory can help coordinate information gathering across jurisdictions, while working with local partners and trusted resources. Particular care is required because investigative methods that are lawful in one jurisdiction may be restricted or prohibited in another.

The real value of an NPL investigation lies not simply in the volume of information collected, but in its ability to answer practical questions.

A well-designed investigation can help a bank understand:

1. Who is involved?
   Identifying borrowers, directors, shareholders, associated businesses and other relevant parties.
2. What assets may be available?
   Establishing potential property, corporate interests and other assets that may warrant further investigation.
3. What happened?
   Building a factual timeline around the loan, borrower and relevant transactions.
4. Where are the information gaps?
   Identifying questions that require further financial, legal or investigative examination.
5. What should happen next?
   Providing intelligence that allows the bank and its professional advisers to evaluate appropriate recovery options.

Non-performing loans can involve far more than missed repayments. In complex cases, banks may need to understand a borrower’s current circumstances, investigate corporate relationships, identify potential assets and establish whether information provided to the lender remains accurate.

Fulcrum Global Advisory can provide valuable support by gathering and analysing lawful, independently verifiable intelligence. 

Our research can complement the expertise of banks internal teams, lawyers, and insolvency professionals, helping transform fragmented information into a clearer factual picture.

When carefully scoped and conducted within appropriate legal and ethical boundaries, private sector intelligence can therefore form an important part of a bank’s broader NPL investigation and recovery process.