Print
ABOUT
The financial services industry
The financial services industry not only plays a pivotal role in the world economy but it constitutes the largest group of companies in the world in terms of earnings and equity market capitalization. It encompasses a broad range of businesses that deal with money; including banks, credit card companies, investment funds, foreign exchange services, insurance companies, and accounting firms. With financial market conditions playing a huge factor in damage assessments, there is often a need to hire a qualified forensic accountant.
HIRE US
With more than 40 offices, MDD has resources in all the major banking centres around the world such as London, New York, Singapore, Hong Kong and Tokyo.
We have worked on thousands of financial services related engagements, involving some of the largest banks and financial institutions in the world – down to small community banks with a few local branches.
For decades, we have analysed and quantified damages, extra expenses and business interruption claims for the financial services industry. Following Hurricane Sandy, we quantified damages for a bank with almost 1,000 locations affected and we were hired to calculate damages following Hurricane Katrina and the hurricanes of 2004. After the terrorist attacks of 9/11, we were retained to calculate the significant losses to investment banks and retail banks. These engagements included quantifying losses due to the closure of financial markets, losses incurred due to the firm’s operation being suspended or relocated, and loss of rents for financial institutions with real estate properties.
MDD provides a wide range of services for the financial services industry including:-
- Quantifying property damage and business loss, including loss of rents analysis
- Analyzing industry data, including market conditions and fluctuations, to determine the potential impact on the institution’s profits
- Investigations into allegations of fraud and embezzlement committed by bank employees and officers
- Regulatory related investigations including Foreign Corrupt Practices Act and UK Bribery Act and Whistle-blower investigations
- Acting as consulting experts to the carriers that insure the financial services industry
- Providing expert witness testimony
Finally, we provide clients with regular updates and accurate, objective reports that are not only comprehensive but easy to understand.
Experience
Experience
Contact one of our experts below or filter experience based on region.
ARTICLES
RELEVANT ARTICLES
Our experts are extremely knowledgeable about thier subject areas and often write educational material and commentary on topical issues they come across.
Ghosts, Ghouls and Cyber Claims
We usually think of Hallowe’en when October rolls around; however, did you know that October is also cyber security awareness month? NetDiligence recently released the 12th iteration of their Cyber Claims Study. They analyzed approximately 7,500 cyber claims from period...
The ABCs of Cryptocurrency and Non-Fungible Tokens (“NFTs”)
Bitcoin. Ethereum. Litecoin. Dogecoin. NFTs. While they may seem like buzzwords or fads, cryptocurrencies or digital assets are experiencing a similar adoption pattern to the internet in the 1990s. In 1995, 14% of U.S. adults had internet access; by 2000,...
Quantifying Damages in Negligence Cases Involving Banks, Lenders
Banks rely on various professionals to help them assess the financial health of their borrowers. But sometimes these professionals make mistakes. As experts in quantifying economic damage, we at MDD are often asked to quantify the losses sustained by lenders...
Foreign Exchange Issues in Damage Quantification: Part II – Applying the Concepts
In the previous post, we presented a basic framework for analyzing the impact of foreign exchange fluctuations on quantifying financial remedies. We argued that the treatment of foreign exchange should be consistent with the principal underlying the financial remedy being awarded;...
Foreign Exchange Issues in Damage Quantification: Part I – Basic Concepts
International trade is an increasingly important part of the Canadian economy, as this picture clearly shows: As a result, it is not uncommon for litigation to involve the quantification of financial remedies across multiple political and monetary boundaries. How does...
Services
RELATED SERVICES
The following forensic accounting services may also be of interest to you.
Fraud and Investigations
Fraud can occur at any company, having a significant financial...
