Field Investigation
We have dedicated resources at field to evaluate the facts and gather more information to provide a conclusive remark.
The scope of work for a field investigation in the banking and finance sector will vary depending on the specific purpose of the investigation. However, here are some common areas that may be covered in a field investigation for banking and finance
- Creditworthiness assessment: Verify the financial stability of the borrower, including their income, assets, and liabilities. This may involve visiting the borrower's workplace, interviewing their employer or co-workers, and verifying their income through pay stubs or bank statements.
- Asset verification: Verify the ownership and value of assets that are being used as collateral for a loan. This may involve visiting the property, inspecting it, and verifying ownership through property records.
- Fraud investigation: Investigate suspected fraud or financial irregularities, such as embezzlement, money laundering, or identity theft. This may involve interviewing employees, reviewing financial records, and analyzing transactions.
- Insurance claims investigation: Investigate insurance claims to verify the validity of the claim and assess the extent of the damage or loss. This may involve visiting the property, interviewing the claimant and witnesses, and reviewing police reports or medical records.
- Risk assessment: Assess the risks associated with a particular loan or investment. This may involve analyzing market trends, evaluating the financial health of the borrower or investment, and considering external factors that could impact the success of the investment.
- Compliance assessment: Assess compliance with regulatory requirements, such as anti-money laundering laws, consumer protection laws, or banking regulations. This may involve reviewing policies and procedures, interviewing employees, and analyzing transactions.
- Due diligence: Conduct due diligence on potential borrowers or investment opportunities to verify their suitability for a loan or investment. This may involve researching the borrower or investment online, reviewing financial statements, and conducting interviews with key stakeholders.