How Asset Tracing Works – A Step-by-Step Guide

October 1, 2023 - Reading time: 5 minutes
Updated on: April 6, 2025

Asset tracing is the process of identifying, tracking, and recovering assets that may have been hidden, moved, or misappropriated. At Private Investigators UK, our team is frequently instructed to trace assets in complex situations such as divorce, fraud investigations, bankruptcy cases, and debt recovery.

Whether someone is trying to hide money offshore or transfer property to avoid creditors, tracing these assets requires a combination of financial insight, investigative skill, and legal support. Here's how it works — step by step.

Step 1: Identifying the Assets

The first stage in any asset tracing case is establishing what you're looking for. This involves gathering intelligence about the subject’s financial footprint — bank accounts, business holdings, property ownership, luxury items, vehicles, investments, and even cryptocurrency wallets.

Investigators use a variety of sources, including credit reports, land registries, court records, leaked databases, company filings, and interviews with relevant parties. Open-source intelligence (OSINT) can also reveal unexpected leads.

The goal at this stage is to map out a complete picture of the target’s financial situation, flag inconsistencies, and identify patterns that may suggest hidden or transferred assets.

Step 2: Securing the Assets

Once assets are identified, the next step is to secure them — before they vanish. This could involve obtaining a freezing injunction from the court (commonly called a ‘freezing order’), which stops the subject from selling or moving their assets while investigations are ongoing.

In high-value cases, especially where assets may be overseas, legal teams may need to act quickly to enforce freezing orders across jurisdictions. This stage requires both speed and accuracy — any delay could give the subject time to cover their tracks.

Our role is to gather robust, court-admissible evidence to support these orders, and to liaise with legal teams throughout the process.

Step 3: Tracing Asset Movements (Conversion)

Once the assets are located and secured, we move into the forensic stage — understanding how those assets moved and where they are now. This is often referred to as the “conversion” stage, and it may involve following a money trail through shell companies, foreign banks, or third-party nominees.

We use advanced analytics, digital forensics, and manual cross-referencing to unravel complex transfers. The aim is to simplify the asset structure so that enforcement can happen efficiently — and lawfully.

Sometimes this phase reveals hidden wealth that had previously gone unnoticed. It’s not uncommon for high-net-worth individuals to use trusts or informal agreements to obscure ownership.

Step 4: Recovery

The final step is getting the assets back — either through negotiation, court enforcement, or asset seizure. Depending on the jurisdiction, this might involve:

• Seizing bank funds via garnishee orders
• Forcing the sale of property
• Claiming shares or business assets
• Enforcing a judgement across borders

Sometimes, a settlement can be reached where the subject agrees to repay a debt or distribute assets voluntarily. In other cases, enforcement may require further litigation, international coordination, or even cooperation with law enforcement agencies.

When Is Asset Tracing Used?

Asset tracing is commonly used in:

• Divorce proceedings – where one partner is suspected of hiding wealth
• Corporate disputes – between business partners or shareholders
• Fraud investigations – particularly where funds have been embezzled
• Insolvency or bankruptcy – where assets may have been transferred prior to filing

We also assist solicitors and clients in preparing legal action by gathering evidence required to apply for injunctions or build cases for recovery.

International Asset Tracing

Hidden assets aren’t always local. In many cases, money or property has been transferred abroad to avoid detection. At PI-UK, we work with international contacts and databases to trace offshore bank accounts, real estate in other countries, shell corporations, and cross-border wire transfers.

This often requires working with local experts, interpreting foreign records, and liaising with financial institutions under strict confidentiality protocols.

Need Help Tracing Assets?

If you're struggling to locate assets that you believe you’re owed, get in touch with us. Our expert team can assess your case confidentially and advise on the best approach — whether that’s gathering early intelligence, assisting your solicitor, or pursuing the full recovery process.

We offer free, no-pressure quotes and can work nationwide or internationally depending on the scope of your case.