Due diligence Investigations Dossier
Protection from reputational and financial damage
The research covers individuals or entities included in all lists of groups subject to sanctions, watchlists, and lists of supervisory authorities and law enforcement agencies regarding matters of financial crimes, terrorism and organised crime in general.
Cases often arise of people already involved in criminal proceedings but not yet convicted, and the reputational damage that may result can be even more harmful than any financial sanctions imposed on them as a result of breach of compliance obligations.
The research activities also meet the due diligence requirements of the KYC (Know Your Customer), AML (Anti Money Laundering), CFT (Countering the Financing of Terrorism) and PEP (Politically Exposed Persons) procedures.
The information collected and contained in the dossier, which is continuously updated and subject to quality control, is of public origin:
- global media (over 100,000 sources);
- data from local and international public records;
- specific sources for each country and industry;
- data sources in foreign languages;
- data stored in our databases;
- global compliance information sources;
- information that is publicly available but difficult to find;
- negative reports from international media;
- around 400 lists of groups and individuals subject to sanctions, watchlists and lists compiled by supervisory authorities and law enforcement agencies (INSIDE investigations often identify persons at high risk even before they appear in the official lists).
The data is analysed in detail, separated and matched together (often a huge amount of data has to be processed) through advanced screening procedures and accurate search processes, and subjected to strict quality controls. This allows compliance processes to be simplified, saving costs in terms of time spent resolving difficulties, and thereby accelerating the pace of operations.
Some functions are provided that allow specific information to be obtained for AML and CFT screening activities:
- penalties in real time: this is a solution for compliance with payment procedures; it allows bodies that carry out checks on time-sensitive cash transfers to obtain updated information on penalties;
- Iran Economic Interest (IEI): this allows companies to track customers, employees and business partners in general, in order to detect the risk of breaches of trade sanctions against Iran;
- Country-check intelligence: this provides global information on economic, political and criminal aspects in support of AML due diligence activities;
- IHS maritime vessel data: reveals the identity, ownership structure (current and historical) and location of vessels and details on all sea-going, self-propelled merchant ships of 100 GT and above;
- US SAM (System for Award Management): provides information on organisations that are either restricted or prohibited from doing business with the US government.
The dossier provides a complete risk overview: information on organisations, their properties, directors, links with politics and organised crime, and conflicts of interest.
It is drafted in English within a short time period (10 to 15 days) and at a limited cost (since INSIDE is personally involved in its preparation).
The service is provided in tabular format: the tables facilitate understanding of the information and assessment of the risks involved; the links through which the data was collected are also given to allow verification.
As a conclusion, a summary sheet and business intelligence section can be provided.
The methods used are geared towards total discretion: the individuals covered by the research are not aware of the ongoing investigations.
The more specific reports include:
- anti-money laundering (AML) compliance;
- verification of statements by administrators;
- anti-corruption checks and verification of compliance with the anti-corruption laws in the USA (FCPA) and the UK (UKBA);
- sanctions against Iran;
- International and American due diligence.
