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...
News
Cartels, a new way of doing business in Hungary?
This year the HCA has already initiated investigations against entities active in the stationery market, the concrete production market and even on the taxi market. The names of companies involved in the cartels are well known to the Hungarian public, but it seems that there is a general ignorance regarding the investigations.
“It is, after all, still difficult for entities due to the 2009 economic crisis and many companies do what they can to survive. They push boundaries and yes, they often step over the line. It’s probably worth the risk but once caught the consequences could be serious.” – said one member of the public.
It will be interesting to see how the HCA investigation will end and whether organisations will be fined or what other penalties may be used.
Garancie keeps a close eye on matters of fraud and corruption across the globe, as these issues highlight the importance of conducting due diligence on affiliations or possible business partners.
