Due Diligence Check
What is a due diligence check?
It’s more important than ever to know who you’re dealing with when you’re considering or entering into a new business relationship. This spans everything from hiring employees or contemplating a new partnership to expanding into a new market or choosing a third-party vendor. A due diligence check is a comprehensive investigation into the individuals and entities with whom you do business.
These investigations involve identifying the available information about these people and organizations and then collecting the most relevant research (often beyond what you can find on the open web) so you can validate what you know. Robust due diligence tools can comb through a multitude of sources, such as watchlists, domestic and international sanctions lists, politically exposed person (PEP) lists and news content to provide this information. They can also access public records and legal data, including out-of-court settlements, judgments, liens and bankruptcies.
Armed with the information from your research, you can:
- gain a better understanding of your employees, customers and third-party relationships
- assess potential risks to your organization, such as financial, regulatory compliance or reputational risks
- mitigate and protect your business from such risks
- inform and improve your decision-making
Ultimately, due diligence checks provide you with timely and accurate business intelligence and insights that empower you to confidently move forward in your business dealings.
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