“How do I find hidden assets during a divorce?” This is a very common request made of Private Investigators during a divorce proceeding, often with parties specifically looking for hidden bank accounts. While “real property” like real estate and cars are easy to locate, banking information can be much more difficult.
In most cases, a private investigator doesn’t have the legal authority to access information for banking or investment accounts belonging to 3rd parties, and contrary to what you will read on many websites, there is no database of bank account information in the United States that you can quickly search. Not only does a comprehensive database not exist but obtaining financial records without specific authority violates several federal and state statutes. This means that aside from possibly committing a crime, any information you find may not be admissible in court anyway. Remember, just because somebody “can” find it, doesn’t mean you are allowed to have it, and the legal ramifications for obtaining such information fraudulently can be severe, for both the investigator, and the person who hires them to collect the information.
The Gramm-Leach-Bliley Act, also known as the Financial Services Modernization Act of 1999 protects financial information and makes the use of deceit or pretexting to obtain financial information a Federal crime. (Public Law 106-102, 113 Stat. 1338, enacted 12 November 1999).
While protections of this act cover accessing information through false pretense (social engineering, claiming to be the account holder, etc) there are very specific exemptions. U.S. Code Title 15, Chapter 94, Subchapter II paragraph “g” has specific language related to child support collection, which allows State-licensed private investor to obtain customer information from a financial institution to the extent “reasonably necessary” to collect delinquent child support when said investigator has been authorized by court order. While the investigator may be able to find bank names or in some instances, account numbers, remember that because they are not the account holder, this information is often very limited. It can be used in some cases however, to demonstrate to the court the existence of accounts, which the Judge can then order the details of which be released.
Disclaimer: The information above is for general information purposes only. Nothing included should be taken as legal advice for any individual case or individual situation. Should you have a need for legal advice relative to a specific area of the law, we strongly recommend you contact a qualified attorney.