Due Diligence checks in more than 165 countries: Garancie

due diligence check by garancie

Due Diligence check

With governments and auditors cracking down across the globe, now seems the perfect time to highlight Credence’s sister company, Garancie, who provide corporate due diligence checks in over 165 countries. Garancie specialises in helping their clients risk-check individuals and companies in any jurisdiction – whether it’s off-shore, emerging or mature markets, Garancie has you covered.

A market leader, Garancie was one of the first companies to create efficient, accurate methodology that has been helping companies to carry out scalable due diligence checks since 2009. Garancie’s model focuses on providing legal, reliable, cost effective, and above all – transparency, to clients of all business sizes. We’ve completed more than 10,000 due diligence checks and investigative assignments, across a vast array of countries.

This international approach allows Garancie to help clients tackle complex issues such as enterprise-wide compliance screening, remediation, pre-deal-due diligence or an in-depth investigations in a manner where language or country is no matter.

Every client has different due diligence needs. This is core to Garancie’s approach, tailoring services to the individual requirements of your company. There are three major categories, Light Touch Due Diligence, Enhanced Due Diligence and Custom Research. You can find more detail on these and custom offerings here.

A Sample of Due Diligence Capabilities

Consensual Checks:

Since 2018, GDPR law has ushered in a new age regarding the obtainment, processing and holding of personal data. Consequently, companies must handle Consensual checks such as credit, educational, criminal information and employment much more sensitively than before. Garancie’s years of experience in providing Consensual checks for clients means we are able to continue to meet clients’ needs whilst ensuring respect for the subject’s privacy.

Sanctions and Serious Crime Checks:

As we’ve seen, financial sanctions have becoming increasingly common. This is not just among the “big players” – the EU, the US, the UN – but in smaller economies as well. Therefore, the art of complying with all the different regulations has become a global challenge – and the risk of noncompliance has grown accordingly.

Whilst Sanctions database searches remain a staple of compliance work, Garancie’s approach to Sanctions checks always includes lists local to a country or territory, typically managed by the Financial Regulator or the Ministry of Justice. Indeed, it is lists of countries with the least developed regulatory climates, which, in our experience, are most likely to be excluded from global databases, leaving clients vulnerable. And because we go the extra mile, we additionally check lists involving “Most Wanted” organised and violent criminals, and terrorist organisations, which are made public by in-country police bodies and Ministries of Interior.

Political Exposure:

The risk of the exposure to financial crime is not limited to sanctions violations. Corruption among Politically Exposed Persons (“PEPs”) can create some of the most severe financial compliance risks for the organisations that connect with them. Whilst many organisations use simple database checks, these do not always reveal the full picture. Garancie takes a broader approach: finding affiliations with PEPs not shown on database checks, using electoral commission candidate lists, or obtaining data from disclosures made by PEPs holding public office.

Media and Internet Searches

When performing a due diligence check, we can find some of the best data through open media and internet searches. Nonetheless, at a time where “fake news” has firmly entered the lexicon, it can also have the opposite effect, posing a huge challenge for risk evaluation:

The absence of barriers to publication in many media outlets, and the growth of agenda-biased media sources can generate “Red Flags” on a company or an individual that may have little basis in reality. All levels of Garancie’s Due Diligence process cover both open source and subscription media sources, with “Red Flag” filters applied for Light Touch Due Diligence. In addition to English language, research is also conducted in the local languages or dialects by a specialist in that jurisdiction. Our local analysts are extremely knowledgeable in the sources they access most often, and in many cases can help to put a context to the source from which a negative news report originates. In addition, insights from Garancie’s Country Risk reports can further contextualise “Red Flags” based on factors relating to media independence, giving you better tools to interpret risk.

Litigation, Bankruptcy and Regulatory Checks

Where available, Garancie can perform Bankruptcy and Company Insolvency checks, as well as director disqualifications, tax debt status or any other negative actions from the authorities who regulate the financial/professional status of the client’s subject.

Checks for Individuals

When conducting checks for individuals, Garancie works within the legal and technical framework of the respective country. Whilst this can sometimes limit scope, Garancie can reliably perform Regulatory, Litigation and Bankruptcy checks. Moreover, Shareholder and Directorship checks are almost always possible. Depending on the country, more details may be disclosed publicly. These can include political affiliations, civil penalties, military service, participation in elections and more. Garancie therefore takes these on a case-by-case basis, finding all disclosures that are public to highlight risk and give a good perspective on the person’s background. Furthermore, where relevant, Garancie can confirm the personal licensing, or check for disbarment. Finally, research is enhanced via Media and Internet searches in both the local language and English.

Company Checks

There’s simply no shortcuts when doing this kind of corporate due diligence. Garancie may engage a lawyer/registering agent to obtain company details, ensuring that we always have the most accurate and current information. At other times, Garancie obtains details from agencies different to the one that registers the company. Sometimes, it may be necessary to apply to a court with jurisdiction over company registration. This global art of manging the intricacies of corporate due diligence simply cannot be replicated by a database.

Additional Research Capabilities

Clients sometimes have needs outside of a due diligence check. Garancie can assist with fraud and counterfeit investigations. For example, by making test purchases or site visits to address any client concerns. Garancie also has a track record of being able to trace assets for a client. Whether it’s boats, planes, artwork or a discreet source enquiry, Garancie can help you search.

For further information, please feel free to contact the team directly.