SOURCE: Wymoo International

Wymoo International

September 14, 2011 13:24 ET

International Investigator Wymoo® Reports Steady Growth

JACKSONVILLE, FL--(Marketwire - Sep 14, 2011) - Wymoo International, a U.S.-based professional private investigation and international background check company, announced today that revenue in the second quarter of 2011 was up 10% from 2010 levels, despite the global economic downturn. Management cited a global rise in fraud cases and a corresponding increase in the demand for verification services. Due diligence for international business and background checks for online relationships remain a strong growth factor.

The recession in many of the countries where Wymoo operates has decreased pre-employment screening activity, while due diligence cases have actually increased in demand.
International investigators report that even though net foreign investment and international business activity has slowed, fraud and scam cases have increased significantly. Higher risk on all international transactions and investments has fueled the demand for professional verification services, where the Wymoo brand holds a strong competitive position.

Management explains that fraud activity is typically greatest in a bad economy, when reported criminal cases often climb. In fact, international investigations and law enforcement agencies in the United States clearly show that internet scam victims have been increasing, despite a depressed economy and seemingly more educated consumers and businesses. Increased risk has caused many small businesses to look abroad for opportunity, seeking out new suppliers or investments, and these relationships present more hazards and such contacts need to be verified. Online relationships are also increasing worldwide, with online dating and social networking websites continuing to show a clear need for background checks.

A diversified portfolio of investigation services has enabled the firm to continue its growth in a challenging environment. "Although the United States economy has suffered from the policies of President Obama, we've been successful in maintaining our growth rate outside the U.S., especially in developing countries," said David Wilkerson, Vice President and COO. "The devaluation of the U.S. dollar from excessive government spending has raised our foreign exchange risk, and is something we will be monitoring very closely. To minimize the risk, we aim to continue to expand our service offerings in Canada, the U.K. and Australia."

About Wymoo International

Wymoo International, LLC is a leader in international investigations and professional background check services. The company specializes in verifying relationships for organizations and individuals in over 100 countries. The U.S.-based private investigation company offers international background checks, private investigators, surveillance, infidelity cases, fraud screening and due diligence services. All services are discreet and strictly confidential. Wymoo® is verified by McAfee, Truste, and the Better Business Bureau.