As the world is constantly changing and the acceptability of certain practices are evolving, the need to ensure that you are working with companies and individuals who are not engaged in illicit activity becomes of paramount importance. The OECD Working Group on Bribery in International Business Transactions and other Anti Corruption initiatives like the UK Bribery Act 2010 and the Foreign Corrupt Practices Act means that Companies are increasingly responsible for undertaking steps to ensure that their partners are not involved in any corrupt activities.
To this end our involvement in the Verification and Due Diligence process will ensure that our clients have taken appropriate steps to make sure that all of their partner companies and individuals associated to each of these companies are who they say they are from a KYC perspective and we have been able to confirm to the highest standard that these partners have not and are not engaged in corrupt activities.
We are currently involved in assisting the compliance departments of a number of large multinational organisations and setting them up with an in house capability providing them with the intelligence to do these checks internally.