International due diligence is critical to companies with complex business and supply chains spanning multiple countries and legal jurisdictions. The globalisation of business increasingly demands stringent attention to the potential for corrupt practices and money laundering.
What is international due diligence?
International due diligence, as the term suggests, is a process of identifying local information that is not publicly available in another country. The local information can consist of:
- Verification of a foreign partner or a client
- Local political impact
- Local economic landscape
- Potential risks pertaining to local illegal activity or corruption
What our process covers
- International company checks
- Director background checks
- Financial investigations
- Local Compliance Investigations
- Hidden Corporate Structures
- Undisclosed Liabilities
- Histories of potentially corrupt business dealings
- Financial profile and analysis
- On and offshore investigations
- Local and international links and activities between companies, their principles and associates
Once our team has completed our international due diligence activities, the next step is to analyse the data and compile a due diligence report that will enable you to make well-informed business decisions concerning potential new business dealings or renewing existing ones.
Know your customer or KYC
The term “know your customer”, often abbreviated to KYC, is a practice used by global and local banks and financial institutions to verify the identity of their customers, assess their suitability, and determine potential risks particularly in the areas of fraud, money laundering, or even terrorist finance..
Although KYC remains very much a practice used by banks and financial institutions to comply with anti-money laundering regulations, companies of all sizes can utilise and benefit from it too, given the world is now a connected place and international trades are unavoidable. Failing to vet your international partners or foreign customers can unknowingly get your company involved with fraudsters or criminals who do not possess healthy regard to your business interests, resulting in serious legal trouble.