Cargo scams in Lithuania are mostly performed by well-organized criminal groups. Often the victims of the cargo thefts in Lithuania are international logistics companies that are located outside Lithuania. Assets recovery in the cargo scams is an effective tool and should be used where appropriate.
Sample case: During the Winter Holidays hustle, during the loading in the Northern Denmark of the freshly frozen trout an intermediary suddenly started to rush the logistics. Complaining about the busy season and bad road conditions. As always the fraudster was very polite, very responsive, and very friendly. When the delivery was executed to the warehouse at the outskirts of Vilnius, Lithuania the client suddenly disappeared with the cargo. When we started to investigate the situation and interviewed the driver, administrator, expeditor it was apparent that a smart fraud was executed by the fraudster that already made the company insolvent.
Summary: Professional risk assessment | company due diligence of the logistics intermediary would have saved the client time and money.
Corporate Fraud investigations in Latvia | Lithuania | Estonia usually requested by the headquarters of the companies that have branches or daughter companies in one of the Baltic countries. Whether the head office suspects or already have signs of corporate fraud, we may advise the most optimal solution and develop and implement the appropriate measures.
Sample case: International company with the daughter enterprise in the timber-related industry requested a due diligence investigation in Latvia. The reason: ambiguous understanding of the management in financial | procurement | administrative resources in the company’s activity. We have executed the background check of the key individuals and applied Risk Analysis. The findings surprised the client since they were not aware that the major turnover was executed between the principles relatives other than the company directly. The client’s company due to the international recognition was used to attract the clients, but all the lucrative contracts went directly to the brother in law enterprise.
Summary: Background Check of the key individuals and Internal Advisory helped the client to get a better understanding on the situation.