Due Diligence is an ongoing process. The identification and validation of your customers, verification of the identity of beneficial owners, understanding the purpose of each transaction and the relationship with their counterpart, conducting periodic updates of customer profiles and up keeping their information are collective elements to create policies and procedures based on the risk that they represent.
Due Diligence and Enhanced Due Diligence
Evaluates a business opportunity with your client or another company involving relevant aspects of the past, present, and predictable future of the prospect. How well is the due diligence conducted by any team translates to the fewer or higher risks for any company.
Client, Correspondent (Foreign and National), Franchisee, Foreign Representative visitation programs
Nothing bonds and seals relationships (and lowers business risk) better that visiting your domestic and international clients, agents and/or correspondents, especially those representing a higher risk or importance to your company.
Know Your Customer (KYC)
Knowing your customer is knowing that through your own proper due diligence and enhanced due diligence practices you know your well. You can also serve them better while also ensuring that your company relies on a well-rounded customer base.