Fraudsters can be anyone, even people you least suspect; in our agency, we’ve seen significant growth in one particular area of fraud: family law fraud. In the last 12 to 18 months, this type of fraud has skyrocketed, causing significant financial losses for unsuspecting victims. This blog post will shed light on the different forms of family law fraud, particularly divorce and probate fraud, and discuss how you can protect yourself and your loved ones from falling victim to these deceitful schemes with an asset search.

Divorce Fraud – A Battle for Assets:

Divorce can be a messy and acrimonious process, especially when it comes to dividing assets. Both parties involved often resort to desperate measures to secure a more substantial share of the pie than the other. They may attempt to conceal or divert assets through various tactics, such as hiding bank accounts, transferring assets under someone else’s name, or even overpaying taxes to claim a cash refund later on. Shockingly, in most cases, both parties are guilty of trying to divert money improperly. To safeguard what’s rightfully yours, it is crucial to conduct a thorough asset search before and during divorce proceedings.

Probate Fraud – A Betrayal of Trust:

The passing of a loved one should be a time of mourning and healing, but unfortunately, some individuals see it as an opportunity to commit probate fraud. When an individual dies, their assets, such as real estate, bank accounts, and insurance, are inherited by their descendants or beneficiaries. However, some unscrupulous family members or outsiders may attempt to conceal these assets for personal gain. Even worse, these are people who are supposed to love, care for and respect each other. To combat probate fraud, ensure you conduct a proper asset search and tracing to protect the rightful inheritance of your family members.

Protecting Newborns from Synthetic Identity Fraud:

A new addition to the family brings joy but can also open doors for scammers to commit synthetic identity fraud. Fraudsters may use the identity of a newborn to open credit accounts or obtain social security numbers, remaining undetected until years later. Protecting your child’s identity is of utmost importance; freezing and monitoring credit reports from an early age can prevent severe consequences down the road.

As family law fraud continues to rise, it is crucial to remain vigilant and informed. By understanding the tactics employed by fraudsters during divorces, probate cases, and newborn births, you can take the necessary steps to protect your assets and your loved ones. Engaging in asset searches and tracing, locking credit reports, and monitoring financial activities are proactive measures that can save you from falling victim to these deceitful schemes. Stay aware, stay informed, and protect what is rightfully yours.

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