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Due diligence internet 19 oct 2012

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WRCC Program 2012 Due Diligence

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Due diligence internet 19 oct 2012

  1. 1. Due diligence(Fraud and skip tracing) Brenda Terreault, JD, CBA NACM Oregon October 19, 2012 1
  2. 2. Internet sources Official Unofficial but Reliable News Unofficial and probably Unreliable Search engines (www.blackbookonline.info) 2
  3. 3. Search Engines 3
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  11. 11. Important Spydialer says “sneaky but legal”, but……. Call “comes” out of Reno NV Can’t Spydial the Spydialer phone number Says it goes to voice mail – but could be answered Once answered, can’t dial again BETA Only on U.S. cell phones 11
  12. 12. Other search engines www.yahoo.com www.Webcrawler.com www.mamma.com www.dogpile.com www.twingine.com www.bing.com 12
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  14. 14. Official Websites 14
  15. 15. Official sources Secretary of State Department of Licensing Department of Revenue State UCC filings Real property search sites Other sites depending on industry 15
  16. 16. State filings Most businesses register with the some state office, usually providing  The legal name  Assumed business name (s), if any  The principals or corporate officers  The agent of record  The date of filing 16
  17. 17. State filings Search engines providing multi-state links  www.llrx.com/columns/roundup29.htm for a national listing of Secretaries of State offices  www.blackbookonline.info 17
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  19. 19. State filings Some states require filing of trade names and corporations/LLCs at Secretary of State’s OfficeColoradohttp://www.sos.state.co.us/biz/BusinessEntityCriteriaExt.doNevada http://nvsos.gov/sosentitysearch/Oregonhttp://egov.sos.state.or.us/br/pkg_web_name_srch_inq.loginIdahohttp://www.accessidaho.org/public/sos/corp/search.html?ScriptForm.startstep=viewentity&ScriptForm.startScriptForm.start.ScriptStepView.viewentityFILEvalue=C137507Utah https://secure.utah.gov/bes/action/index 19
  20. 20. State filings Some states have filings of trade names and corporations/LLCs at different state officesWashington – file trade names and corporations/LLCs indifferent officeshttp://www.sos.wa.gov/corps/corps_search.aspxhttps://fortress.wa.gov/dol/dolprod/bpdLicenseQuery/ Some states have filings of trade names at county office and corporations/LLCs at state officeCaliforniahttp://kepler.sos.ca.gov/http://www.coordinatedlegal.com/fbn.html 20
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  22. 22. Taxes Washington - http://dor.wa.gov/content/doingbusiness/re gistermybusiness/BRD/Results.aspx?Req uestType=1&Criteria=clark+systems&City =#brdResults California - http://www.boe.ca.gov/cgi- bin/deliq.cgi 22
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  24. 24. UCC filings Oregon – http://www.filinginoregon.com/ucc/index.htm Washington - https://fortress.wa.gov/dol/ucc/ Idaho - http://www.sos.idaho.gov/ucc/uccindex.htm California - http://www.sos.ca.gov/business/ucc/ 24
  25. 25. Licensing and other necessities Different industries may require different things for a business to operate  Construction  Transportation  Restaurants 25
  26. 26. Construction Oregon - http://www.ccb.state.or.us/ Washington - http://www.dol.wa.gov/business/UCC/index.html California - https://www2.cslb.ca.gov/OnlineServices/Check LicenseII/CheckLicense.aspx Idaho - http://dbs.idaho.gov/publicworks/ 26
  27. 27. Restaurants Health inspectors tend to be on the city or county level Example: Portland/Multnomah Countyhttp://www3.multco.us/MCHealthInspect/List Search.aspx#search 27
  28. 28. Transportation Department of Motor Vehicles  Cost involved  Privacy Concerns  Accuracy 28
  29. 29. Miscellaneous licensing Most towns require a local business license.  Check the municipality’s website for on-line license information  For example, http://www.portlandonline.com/licenses/lookup/ 29
  30. 30. Real Property Tends to be a county by county decision Every search site is different A great site in New Jerseyhttp://www.njactb.org/http://php.app.com/mod4_10/search.phphttp://www.app.com/apps/pbcs.dll/section?Categor y=DATA 30
  31. 31. Real Property Oregon - County tax assessor  Portland maps - http://www.portlandmaps.com/  Deschutes - http://www.deschutes.org/index.cfm?objectId=836F545 E-BDBD-57C1-91EC7EC87DBBD7EA  Douglas - http://www.co.douglas.or.us/puboaa/puboaa_search.as p#results Washington - http://info.kingcounty.gov/Assessor/eRealProperty/default. aspx California - http://assessor.lacounty.gov/extranet/Outsidesales/saleintr .aspx 31
  32. 32. Unofficial (butprobably reliable)Websites 32
  33. 33. Individual business websites Google the business name  Sort through multiples  May need to include additional info: city and state where located? Google the street address  Could find multiple businesses  Could find virtual office 33
  34. 34. Individual business websites Might not find a company website Might find company website has been taken down 34
  35. 35. Reference checks The ones on the application The other ones  Landlord  Utilities  UCC filings  Visual “references” 35
  36. 36. Listed reference Try their website  Compare the phone number and address Google Try the phone number search sites 36
  37. 37. Investigation: Business Information Directory searches for contact information:  www.switchboard.com  www.dexknows.com  www.411.com  www.lead411.com  www.jigsaw.com  www.blackboardonline.info 37
  38. 38. Miscellaneous People www.pipl.com www.123people.com www.linkedin.com www.facebook.com www.myspace.com 38
  39. 39. Getting a different reference Consider what language you have in your terms and conditions  Who and when Potential places to locate those “references”  UCC filings  Industry Groups  Other resources you may have 39
  40. 40. Investigation: Public Records www.llrx.com/columns/roundup29.htm - An especially helpful site that attempts to cover all public (state) records. www.blackbookonline.info – A site used by skip-tracers and others trying to find additional information. http://publicrecords.onlinesearches.com/ 40
  41. 41. Miscellaneous Real property  www.zillow.com In General  Better Business Bureau - http://www.bbb.org/us/Find-Business- Reviews/ 41
  42. 42. Arrest records http://convicted.me/inmates 42
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  44. 44. News Sites 44
  45. 45. News Local papers Wall Street Journal Business Journals Trade rags 45
  46. 46. Monitoring Accounts or Topics Use a website to track information on specific accounts; e.g. Google Alerts - http://www.google.com/alerts?hl=en  Set up alerts  As found, daily, monthly, etc.  Receive by email 46
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  50. 50. Unofficial (andprobably unreliable)Websites 50
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  53. 53. Pay Sites 53
  54. 54. Public records can cost you Pacer  http://www.pacer.gov/psco/cgi-bin/links.pl  Must set up an account with the court and place a credit card on the account  Card is charged once a quarter. You get an email telling you to print off invoice for your records. Rules of thumb  Don’t print unless you HAVE to (even then it’s only 10 cents a page)  Use Mozilla Firefox 54
  55. 55. Other skip tracing and asset searching Credit reports  Read between the lines  Look for mortgages  Car loans or leases  Look for bank info  Equity lines  Credit card information  Look for names of financing companies that stores use for same as cash programs.  FTL Finance  Credit inquiries 55
  56. 56. Other skip tracing and asset searching NACM Report NACM Groups Signs Post office Landlords Neighbors 56
  57. 57. References The Cybersleuth’s Guide to the Internet; Carole A. Levitt, JD, MLS and Mark E. Rosch The web itself  Don’t be afraid to play 57
  58. 58. Questions?bterreault@nacmoregon.org971-230-1196 58

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