Due Diligence
Fraud is the most prevalent risk associated with third parties hence it is very critical for companies to adopt a proactive approach to protect themselves from serious compliance concerns. ITGS Diligence is capable of conducting specialized Due Diligence depending on the risk profile of your third parties and ensuring that your company remains compliant with key risk areas like Anti-Money Laundering, Anti-Corruption & Bribery, Conflict of Interests, and Political Exposed Persons. To spot the risks, it makes good business sense to make sure you know who you’re dealing with. The due diligence process offered by ITGS Diligence ensures that your company has:
A consistent & reasonable approach to vetting its third-party relationships- Conducting diligence throughout the relationship especially with your critical vendors
- Avoid being blindsided by fake data
- Avoid you from potential risks
Just because your relationships with stakeholders begin with the best intentions does not mean that they cannot become risky over time.
Our Due Diligence reports cover all the risks identified using Open-Source Intelligence (OSINT) and Human Intelligence (HUMINT).
Open-Source Intelligence (OSINT)
Open-Source Intelligence (OSINT) is a multi-factor methodology for collecting, analyzing, and making decisions about data accessible in publicly available sources to be used in an intelligence context. In the intelligence community, the term "open" refers to overt, publicly available sources.
- Delivery of enriched, exploitable intelligence results;
- Outsourcing your organization’s Open-Source Intelligence (OSINT)requirements entirely;
- Accessing Open-Source Intelligence (OSINT) burst capacity if you have limited internal resources
- Efficient, cost-effective, flexible, and scale-able OSINT resources; Removing or reducing internal Open-Source Intelligence (OSINT) resource, training, and technology costs.
- Accessing acknowledged Open-Source Intelligence (OSINT) and intelligence analysis experts.
Human Intelligence (HUMINT)
Official records and online sources only provide a partial picture of a due diligence target. That picture is in many cases sufficient, but a third investigative dimension like Human Intelligence is often necessary to answer specific or sensitive questions or to gather intelligence where there is a shortage of information in the public domain.
Through discreet source inquiries, ITGS provides deeper color and context to Individual(s) or business(s) industry reputation, past performance, and any risk issues associated with them. Human Intelligence (HUMINT) adds significant value when Individual(s) or business(s) operates in a jurisdiction or industry with a high risk of corruption or other risk issues, such as modern slavery, environmental violations, and opaque public records. The core features of ITGS’s Human Intelligence (HUMINT) includes:
- Assessing industry reputation, past performance, and uncovering unforeseen risks.
- Gaining greater detail, color, and context into risk issues identified in the public record, such as litigation or negative media coverage.
- Assessing an individual's political exposure and untoward use.
- Assistance in searching the database for document production.
- Accessing acknowledged Open-Source Intelligence (OSINT) and intelligence analysis experts.
- Identifying an individual's source of wealth and a company’s ultimate beneficial ownership.
KYC & KYE
In this era, where the boundaries of the globe are shattering down, businesses around the world have a great opportunity to grow and tap into the international market. Businesses are now not just domestic; this connectivity has increased the growth potential for everyone. When everyone is your potential customer or employee, KYC (Know your customer) and KYE (Know your employees) are becoming more vital to run your business safely.
ITGS Group helps you to identify and verify your client's identity so you know who you’re dealing with, to prevent yourself from getting used by criminals or any other illegal activity. Knowing about your customers also helps you to gain insights about them and serve them in the same manner they want.
ITGS Group promises you to build a safe and secure future and by using our KYC and KYE services you can know the individuals you’re dealing with and so you can be safe from the implicit activities which can be done under your umbrella or you can secure the future of your business by serving your clients according to their demands.
Customers must meet certain standards before being registered, according to a KYC policy. It should also include a description of the potential threats that the customer is bringing in. Identification documents that are difficult to forge should be checked. The work is not done here yet- monitoring them while they are your customer is equally important.
Conflict of Interest (COI) Due Diligence
A conflict of interest arises when an individual in an organization has to compete for professional obligations or personal or financial interests which can potentially influence the exercise of his or her duties. Private or personal interests include, among others, family and other relatives, personal friends, the clubs and societies to which an individual belongs, private business interests, investments and shareholdings, and any person to whom the favor is owed.
At ITGS, we monitor our client’s business and operations with a particular individual or entity to identify activities that may cause an actual or perceived conflict of interest. In addition, we are also responsible for identifying, reporting, and escalating potential conflicts of interest. Such identification is intended to ensure prevention, management, and mitigation of conflicts of interest to protect the integrity and independence of our clients and customers.