To carry out an Integrity and Reputation Due Diligence process, it is important to follow these 4 steps:
Establish the scope that will be used to carry out the investigation, considering the risk that the party to be investigated may have. A quick due diligence platform singapore of sanctions and watch lists may be recommended in cases where the risk is judged to be low, while the collection of detailed information on the third party may be required in higher risk cases.
Gathering information from official sources, searching public databases, with a specific focus on public record databases such as court records, compliance databases, Internet and media searches, negative media coverage, lists liens, among others.
Review of the information collected, elimination of false positives, identification of alert indicators and classification of the findings identified in different categories, such as: findings on bribery/corruption, relations with the Government, regulatory breaches, tax violations, among others.
Issuance of the final integrity and reputation due diligence report with the findings identified on the third party.
The success of relationships between companies and their third parties depends on the honesty of all parties. Third party integrity and reputation due diligence must be robust, comprehensive, impeccably documented, preserved, and monitored.
Integrity and reputation due diligence investigations examine the background of entities and the professionals who manage them; Thorough due diligence can help companies uncover financial problems, criminal activity, and legal action from third parties.
Failure to conduct a thorough background check of a third party can cause great harm to organizations, since in some cases unethical people would be allowed access to the company’s infrastructure, databases, employees and other information.