Why a multifaceted due diligence is an important part of a compliance programme

Initially, the Client only provided us with the name of an individual, her address and basic details of a related entity registered in the Marshall Islands. According to the Client, the individual was acting as an agent for Chinese shipping companies that liaises with ports in Argentina and Brazil.

As the individual and the related entity did not have any media presence in the Chinese press, our Southeast Asia specialist, Benny Chew conducted numerous enhanced data searches and found that the individual’s address closely matched the address of a shipping company in Shanghai, China, although he could not establish any exact connections between the individual and the shipping company through media-only research.

Benny then discreetly contacted his vast network of shipping industry sources, who confirmed that the individual is an agent of the shipping company in Shanghai, and is mainly in charge of developing shipping markets in South American countries, Spain, Portugal and China. Benny’s sources also revealed that the individual spends considerable time abroad and is rarely in contact with local industry peers, hence her low media profile and exposure in the local market.

Benny’s effort highlighted how our Professional Services Team uses a combination of research methodologies and techniques to help Clients make better decisions by providing them with quality and reliable information on different targets.

Find out more about The Red Flag Group® here. Our Compliance experts have been rigorously trained and specialise in particular regions, countries, and industries making them subject matter experts in their fields.  They are what makes this Firm, not a piece of technology. Order your due diligence report here

 

 

 

 

 

 

 

 

 

Benny Chew, Asia Pacific Professional Services Team (Penang).

Benny has expert knowledge in the AML/CFT, Fraud, KYC and anti-financial crime domains. He leads due diligence projects in the Southeast Asia and the Greater China region.

Previous Article
Political connections can expose you to risk
Political connections can expose you to risk

Our team demonstrated to the Client how business executives in the post-Soviet Union are interconnected, an...

Next Article
Interjurisdictional data research and analysis
Interjurisdictional data research and analysis

Mary Chicklet Millo was able to identify the target individual by cross-referencing records in Lebanon, sou...