Newsflash
Client On-boarding
Client On-Boarding: What should you consider when you win a new client?
Your sales team approach you and tell you that they have just won a new client after weeks/months/years of engagement, understanding their needs, meeting the decision makers and putting together a successful pitch.
What should your reaction be? Go down to the pub and celebrate? Ring your lawyers to start drawing up contracts? Contact your “suppliers” to ensure you can meet the new order?
Read more...Ultimate Beneficial Owner
What is an Ultimate Beneficial Owner and how do I find them?
By Nigel Goddard
In the context of the Money Laundering Regulations and indeed much anti-corruption legislation and guidance it is a pre-requisite to understand the ultimate beneficial owner.
Read more...
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A report designed in line with the guidance issued by the UK Ministry of Justice to provide background information on associated persons and their related economic environment risk. |
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A report focused on business partner and country risk in line with the key points emphasised by the US Department of Justice, namely; business history and reputation, connection to public officials, banned or sanctioned individuals or organisations and compliance with anti-corruption legislation. |
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Designed for clients who have a high number of new customers that need to be checked as part of the on boarding process in a quick, efficient and cost effective manner, Garancie carries out a LightTouch due diligence process that meets the needs of the regulators by independently:
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Enhanced KYC due diligence (“EDD”) is carried out where there is a higher risk associated with a particular customer or, for example, where there is a Red Flag or positive name match in the compliance database searches. The purpose of the Enhanced Due Diligence is to both obtain further details in relation to any name match issues as well as broaden the investigation sources. |
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Using a combination of difference sources, a higher level, more in-depth review of a potential investment target, JV or business partner. Typically the Garancie team would thoroughly research an investment opportunity and its associated management. This often involves multiple jurisdictions but can be tailored to the specific associated risks or issues raised by the banking and investment teams. |
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An in-depth review of a senior executive’s or management team’s background. If authorisation is available this can include criminal record, credit and other checks which are only possible with consent. |
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A two stage, cost effective screening of a single or multiple vendors with a focus on identity, sanctions and reputation which can be further enhanced to look at issues such as credit worthiness, litigation issues as well as taking up trade references. |
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Review and verification of information provided by a subject who has been proposed as a director of a listed company. In addition, further research can be carried out to independently report on issues of public profile, bankruptcy and litigation. |
