The most commonly requested type of asset search is a hidden bank account search. While there are many types of assets, the first one that usually comes to mind is bank accounts. There are a variety of reasons why you may be searching for a hidden bank account such as divorce, judgment, litigation, or other legal reasons. With today’s technology and the ability to disguise your online footprint, it can be easy for debtors or individuals to hide financial assets in a variety of ways including hidden bank accounts. If you’re going through the divorce process, or a court process where you’re acquiring assets from another person, it’s important to check for not only hidden bank accounts but for other secret assets as well.
There’s no “bank account database” available to the public. Under U.S. privacy laws, bank account information is not a public record and is considered protected information. This doesn’t necessarily mean you can’t conduct the search, it just means it’s not easily accessible. Before searching for a hidden bank account, make sure the methods you’re using are compliant with the Gramm Leach Bliley Act of 1999. This act prohibits “pretexting” which occurs when someone contacts a financial institution in an attempt to obtain protected information on an individual while falsely claiming to be that individual.
To search for a hidden bank account, there are a few methods you can use:
- Locate private sector sources where bank accounts may be available
- Utilize swift codes
- Utilize check verification
- Vetting
- Third-party access
There are many ways to legally search for bank accounts, before searching make sure your methods are compliant with all applicable laws. We are not attorneys or giving legal advice.
Hidden bank accounts can be a huge win for a creditor, but not if the account holds a low or negative balance. When conducting an asset search, it’s imperative to consider all types of secret assets in addition to hidden bank accounts. Oftentimes if a subject feels like their assets may be taken, they may begin to disperse their money and assets. Check for additional assets such as Venmo accounts, stored cashier’s checks, cryptocurrency investments, real estate assets, vehicles and corporate assets. While a hidden bank account can be valuable, $500,000 worth of real estate will go much further than a $500 hidden bank account.
ActiveIntel investigators are experts at conducting asset searches. Looking for help from a private investigator? Click here to learn more about how to hire a private investigator to conduct an asset search. Looking to do it yourself? Order a DIY Asset Search from ActiveIntel to conduct your own professional asset search from the comfort of your home.
