Due Diligence Services
As part of any financial transaction, due diligence on counter-parties is an essential element and the basis of any new relationship. We understand the importance to vet fraudulent or ‘unworthy’ applicants and to ensure that they do not filter into the day to day operations of the business.
In many industry sectors, including of course the financial sector – the undertaking of professional Due Diligence is now mandatory and forms part of the Anti-Money Laundering laws and the requirements to ‘know your client’ (KYC).
Nowadays, undertaking due diligence is a complicated exercise. Some make the mistake of undertaking what they believe is ‘due diligence’ by typing names and phrases into Google or Yahoo search engines. This produces results that cannot be relied upon and can be manipulated by almost anyone and therefore should not be seen as real “due diligence”.
Real Due Diligence comprises of certain key elements. Those being;
- (1) To establish compliance to Anti-Money Laundering regulations.
- (2) To establish the real identities of individuals (all natural persons) involved in the transaction and to ascertain that the individuals possess the right authorities and qualities to carry out the duties expected of them. To check international fraud registers and criminal record bureaus.
- (3) To establish the Ultimate Beneficial Owners (UBO) of the company or companies.
- (4) To ascertain companies are correctly incorporated and their incorporation is current and not hindered by any legal action or pending actions.
- (5) Financial Due Diligence: To ascertain that the people and the business involved have the financial capability to deliver what is required of them.
- (6) Source & History: To obtain a full understanding on the source and history of their investment funds. This will comply with anti-fraud and anti-money laundering regulations currently in force.
Locating this information (particularly in difficult jurisdictions) is often not an easy task and can take many months to complete. At IntaCapital, we have direct access to international agencies including Reuters, Dun and Bradstreet and other subscription services that can undertake this work and offer full due diligence reporting in compliance with international AML acts and the PATRIOT Act.
For more information on IntaCapital Swiss ‘Anti-fraud and AML Compliance services’, please visit our Main Web Site or Contact Us for assistance.