more "secret'' agent to sleuth in the shady underworld of money-laundering and fraud.

Bermuda Provident Co. Ltd., a company which advertises its real estate and insurance agencies, has placed a newspaper ad announcing the creation of a new security division.

And because of the need to ferret out corporate and other financial secrets, they require a manager for the division "to carry out the operation's objectives.'' When telephoned this week, a company spokesman who identified himself as chief financial officer, Stephen Pearce, said he wished to make no comment for publication.

But the advertisement indicated that while debt collection, fraud investigations and reinsurance recovery work would be the focus, the successful applicant for the job of manager would be expected to "direct the company toward other related areas.'' Expected qualifications include forensic investigating in areas such as money laundering, white-collar crime, loss prevention, and recovery of assets in an international environment. Applicants must also have experience in forensic computing, forensic accounting and personal protection security and security research.

The advertisement indicates preference will be given to an individual with a law enforcement background. It added: "The ability to conduct complex negotiations in a multi-lingual environment (particularly Spanish and French) is essential as the main thrust of the reinsurance recovery work will be aimed at South America and Western Europe.''