Bojan Ilic – Chairman & Global Director at Swiss Security Solutions, recognized Expert in Global Security, Investigations & Risk Management.
While technology continues to reshape how we gather and interpret information, one thing remains unchanged: truth, discretion and trust are still the pillars of effective investigations.
If anything, as global markets evolve and digital threats accelerate, professional investigations have become an even more strategic necessity for investors and firms looking to protect their assets and reputations.
For more than three decades, I’ve worked behind the scenes in law enforcement, intelligence and private investigations, helping individuals and businesses navigate some of the world’s most complex risks. Based on my experience, here is some advice on how leaders can respond in this new environment.
Why Traditional Due Diligence Isn’t Enough
In an ideal world, we could rely on financial audits, corporate registration records and face-to-face meetings to determine the legitimacy of an opportunity. But in reality, the landscape has changed.
Cross-border fraud, identity theft, deepfake-enabled impersonation and hidden liabilities are all on the rise. According to Europol’s report “The Other Side of the Coin,” sophisticated actors are now using legitimate-looking corporate shells to commit high-level financial crime, sometimes exploiting companies that have been quietly dormant for decades.
This isn’t just about compliance; it’s about decisionm making with integrity. Missing a single red flag in an acquisition or partnership could cost millions—or worse, damage long-standing reputations. Interpol has reacted with new financial initiatives regarding investment fraud and cyber-enabled financial scams.
Investigative Intelligence In Investment Strategy
The best investigations today are not just about uncovering wrongdoing; they are also about preventing it from ever happening.
In my experience, bad actors don’t typically go after easy targets. They target gaps in perception, complex international structures, fast-moving capital or assumptions made in haste. Family offices, equity firms and individual investors are especially vulnerable when they operate across borders or when decisions rely heavily on referrals or reputation alone.
Enhanced investigations, those that go beyond routine database checks, can help illuminate what isn’t being said. This might include identifying undisclosed relationships or conflicts of interest, uncovering past fraud attempts masked through shell entities or detecting behavioral red flags in leadership teams that algorithms miss.
A New Dimension Of Due Diligence
One of the most significant shifts in the last five years is the convergence of cybersecurity and financial investigations.
Today, threats don’t just come from inside a boardroom; they originate on the dark web, through social engineering or via manipulated AI-generated identities. C-level executives, public-facing founders and even their families are increasingly targets of impersonation, extortion and surveillance.
It’s not uncommon now for social media investigations, adverse media monitoring and cyber forensics to be part of an M&A due diligence process. However, I’ve discovered that solely depending on automated tools can result in the loss of crucial intelligence. The most effective digital investigations require human expertise analysts who can spot anomalies, interpret behaviour and apply context.
Asset Tracing Before And After Litigation
Another underappreciated area is asset tracing, especially in situations involving litigation, high-stakes negotiations or partnership disputes.
Many investors don’t consider tracing assets until things go wrong. By then, valuable time may be lost. From offshore companies and art collections to crypto wallets and non-traditional asset classes, the process of identifying, locating and documenting hidden wealth is both a science and an art.
Professionals in this space must work within court-admissible standards and maintain strict legal compliance, especially when operating internationally. In my work, I’ve seen how a well-timed tracing effort, not just reactive recovery, can reshape the trajectory of a case or deal.
A Holistic Approach To Risk
Complex risks require thorough investigation solutions and a layered approach that uses all available tools, methods and information sources.
No single technique is sufficient on its own. Effective investigations today must blend traditional methods with cutting-edge capabilities. This includes field investigations, social media and open-source intelligence (OSINT and SOCMINT), cyber intelligence gathering (CYBINT), blockchain forensics, adverse media monitoring, insider threat analysis and even covert operations (HUMINT) where appropriate and legal.
For example, identifying a shell company requires more than reviewing corporate records; it may involve tracking digital footprints, tracing cryptocurrency transactions, analyzing behavioral patterns and conducting undercover verifications of people, assets or operations.
Similarly, reputational risk can originate from a single social post, a deepfake video or a compromised executive profile on the dark web. This kind of integrated strategy not only enhances accuracy but helps decision-makers see around corners, identifying red flags before they become financial, legal or reputational disasters.
By viewing investigation as a 360-degree intelligence function, not a single service line, investors and firms can move beyond reactive risk management and toward proactive, confident decision making in even the most complex environments.
Building An Internal Culture Of Risk Awareness
Even if you don’t outsource investigations, your organization can benefit from adopting an investigative mindset. Encourage internal teams to think critically about red flags. This includes not just financial anomalies, but inconsistencies in communication, legal structures or personal conduct. It’s important to equip your decision makers with more than checklists; give them frameworks to assess truth beyond appearances.
When it comes to complex investments, the main fact to understand is that background checks aren’t enough. Understanding the motivations, vulnerabilities and networks behind key players can often provide more insight than a clean financial report.
Intelligence As A Competitive Advantage
We’re living in a time when digital transformation, global mobility and financial complexity are reshaping how risk manifests. But with the right intelligence, investors can move forward with clarity and control.
Whether you’re navigating a high-value acquisition, protecting your legacy or building trust in a volatile environment, professional intelligence can be your most valuable asset. The ability to uncover hidden truths, anticipate threats and validate assumptions is what separates reactive organizations from resilient ones, helping provide clarity in an increasingly opaque world.
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