Product
dTrace
Automated asset and transaction tracing solution
Unlock more accurate investigative insights faster
Overview
When it comes to asset and transaction tracing, clients and their legal counsel often face significant challenges. The challenges can stem from various factors, including the sheer volume, complexity or format of transactional data, as well as technological obstacles like legacy systems or resource-intensive manual processes. Manual review processes, which are commonly used, can be time-consuming, expensive and prone to errors.
To address these challenges and applying decades of tracing experience with a commitment to continuous technology based advancements,
Deloitte Forensic developed and now proudly offers a solution called dTrace.
dTrace is equipped with a range of analytical tools and capabilities, supported by artificial intelligence. It can be deployed on any investigative project where accurate, scalable and fast asset and transaction tracing is crucial.
dTrace allows analysis that used to take weeks to be completed in days. Some of our clients have seen more than a 50% reduction in conversion and processing costs.
dTrace is a user-friendly and efficient tool that captures transactional data and maps the flow of funds between accounts or to end point destinations such as recoverable assets.
Benefits
Accelerated Insights and Action
Applying dTrace, clients can gain valuable insights faster, enabling swift action to shut down or initiate recovery from suspected frauds. This can reduce losses and increase asset recoveries.
Scalability
dTrace is designed to handle large transactional datasets efficiently. It is scalable for projects of all sizes, from hundreds of transactions to millions, without compromising performance.
Efficiency
dTrace automates the data analysis process, significantly reducing the time required to process and map large volumes of transactional data. This leads to quicker turnaround times for financial analysis and investigations, as well as increased cost-effectiveness.
Reduction of Manual Work and Human Error
Leveraging dTrace’s analytical tools and capabilities, clients can significantly reduce the amount of manual transaction matching and analysis work, saving time and reducing the risk of human error.
Rapid Deployment and Data Security
dTrace is a rapidly deployable solution that comes with robust controls to ensure the safety and security of client data.
Transparent and Simple Costing
dTrace offers a transparent and straightforward costing structure based on the volume of transactions.
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How it works
Using a five-step process, dTrace enables Deloitte forensic accountants and investigators to use various analytical tools to unravel complexity to deliver rapid insights on where money has gone and how it has moved.
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Source Data Preparation
Bank statement or transactional information is captured, cleansed, validated and ingested into dTrace. The solution offers options for easy conversion and ingestion, including automated conversion from PDF to CSV or direct ingestion of Excel transaction listings. This reduces the need for manual processing of statements.dTrace is supported by a third party, cloud-based platform called Valid8. For more information: https://www.valid8financial.com/
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Banking Data Ingestion
dTrace provides built-in tools for validating and reconciling ingested data. It can identify missing periods of statements for various accounts, aiding in information requests or subpoenas. The ingestion process is flexible and scalable, accommodating any transaction volume.
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Matching and Funds Flow Mapping
Once ingested, dTrace maps the flow of funds between different bank accounts using a fast and accurate matching engine. This analysis can be updated in real time as new bank statements or information is provided. dTrace facilitates the review of high volumes of transactions, categorising them by various attributes to expedite insights on fund sources and destinations.
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Initial Analysis and Visualisations
dTrace enables the display of the flow of funds through pre-set or customisable visualisations. These visualisations enable targeted data-driven insights and are designed to communicate findings to stakeholders with ease.
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Advanced Analysis and Tracing
dTrace incorporates advanced funds tracing algorithms that can apply court accepted methodologies, including but not limited to lowest intermediate balance and last-in first-out, to identify and evidence the application of funds to specific assets or accounts, even in cases of commingling. The solution also supports more advanced visualisations or custom analyses, such as identifying the size and frequency of transfers between all accounts and entities.
Features
dTrace offers several additional features to enhance the investigative
process:
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AI Categorisation of Banking Transactions
dTrace deploys AI technology to automatically categorise banking transactions, streamlining the analysis process.
Investigator Tools
dTrace provides investigators with helpful tools, such as the ability to import and export results and analysis to facilitate collaboration and sharing of findings. Additionally, investigators can annotate and add statuses to transactions, ensuring clear and organised documentation throughout the investigation process.
Accounting Data Import
dTrace allows for the import of accounting data (e.g. cash, receivables and payables ledgers) from popular platforms such as Xero and MYOB to provide additional details on bank statement transactions.
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What we solve for
dTrace can be deployed on any project or engagement where accurate, scalable, and fast transaction tracing or investigation is crucial such as:
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Fraud Investigations
Whether internal or external fraud, dTrace can assist in uncovering fraudulent activities and gathering evidence for investigations.
Regulatory Investigations
dTrace is particularly useful in complex fraud cases, such as the investigation of failed investment funds or Ponzi schemes.
Investigative Intelligence and Lead Generation
Leveraging banking data, dTrace can provide valuable insights for investigative intelligence and lead generation purposes.
Funds Tracing for Legal Proceedings
dTrace enables the tracing of funds to assets, supporting freezing orders or recovery remedies sought by liquidators or administrators.
Proceeds of Crime Investigations
dTrace aids in investigations related to the proceeds of crime by identifying beneficiaries of funds.
General Funds Tracing for Investigations and Litigation
dTrace facilitates tracing the source, application, and use of funds, providing valuable support for investigations and litigation processes, including expert evidence.
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Client Stories
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