Financial Lines

Financial institutions and large corporations are exposed to a wide range of dishonest and fraudulent actions by both external unconnected parties and employees and other linked persons. Ever since our operations began in 1989, the adjustment of financial and banking losses has been one of our areas of specialisation, making us leaders in this sector in Spain.

Our experience

  • We are experts in the adjustment of BBB losses and other financial claims in Europe, Latin America and Asia.
  • Our offices in Madrid, Miami, and Bogotá employ highly qualified teams, which collaborate with local teams in other countries where we are present. Our teams comprise economists, auditors, lawyers and IT specialists with accumulated professional experience in this sector or in the financial world before joining the adjustment sector.
  • In addition to our own offices in Spain, Latin America and Portugal, we have the offices forming part of VRS Adjusters, the global adjustment network we founded (with more than 450 offices in 140 countries worldwide) thanks to which, we can operate according to local needs in compliance with regional requirements.
  • Our clients are Reinsurers, Direct Insurers, and Lloyd’s Syndicates exclusively.
  • Our specialists combine local knowledge and international experience to offer an agile and quick service.
  • We can prepare our reports in the local language or in English.

Types of losses

  • Employee Infidelity
  • Fraud and Forgery
  • Hold-ups, Robbery, and Theft
  • Safes
  • Carriage of Valuables
  • Computer Crime
  • Cyber Risks
  • Financial risks for non-financial institutions (Commercial Crime)
  • Professional Liability (Financial institutions)
  • Professional Liability (Non-financial institutions)

Some of the losses we have intervened in:

  • Bank employees, in different branch offices, registered online banking services and processed debit cards without their customers’ knowledge, to make illicit charges against their accounts.
  • Robberies from ATMs violently forced open using blowtorches, gas, etc.
  • Intrusion in a Bank’s systems through cyberattack enabling cash withdrawals of large sums of money from numerous ATMs.
  • Detection of a large amount of missing cash belonging to a Bank, held at the installations of an external provider responsible for its custody and transportation.
  • Delinquents impersonated a company supplier, deceiving the Treasury area into changing the bank account for payment of services, thereby diverting significant sums of money via transfers.
  • Branch office director exceeding their powers by approving numerous credit transactions without customers’ knowledge and appropriating the funds.
  • Forgery of cheques, fraudulently collected from customer accounts through the clearing house process.
  • Criminals who kidnapped the branch office manager and their family, obliging them to handover the money kept in the vault of the branch office in question.
  • A customer of the Bank in collaboration with an employee diverted funds from another customer’s accounts using the online banking app.
  • Employees of the affected company inflated the costs of the department in which they worked, keeping the difference.

Specialty Management  >

Jesús Bernaldo de Quirós

David Herranz