One of Sqope’s most unique and premier offerings is our dormant account tracing service, through which we’ve supported hundreds of clients in finding owners of inactive accounts or their next of kin. For the last twelve years, we’ve used our expertise and global network of investigators to assist with hundreds of cases, boasting a success rate of 87%.
Miriam Goldman Epstein
In one such case for a private bank in Switzerland, we discovered that a dormant account was owned by a well-known Russian billionaire. Another time, the owner was a fugitive in Germany and we ultimately found that he fled to Hungary. And sometimes our investigations take us on an even more international trip: in one case, our investigators traced an account holder from Belgium to Germany to the Philippines, where it was discovered that he had passed away. His next of kin was then ultimately found to be residing on a remote island accessible only by boat.
While regulations related to dormant account tracing are global, in Luxembourg this requirement was formalized even further with the Law of 30 March 2022 on inactive accounts, inactive safe-deposit boxes and unclaimed insurance contracts. Among others, it requires that regular contact be maintained to avoid reaching inactive status, while defining the timeline and steps that need to be taken should this status nevertheless occur.
Click here to learn more about our Sqope’s dormant account tracing.