“Know your customer” might sound like empty talk, yet in today’s business environment these words are of crucial importance. For transactions that cross national borders it is often difficult to maintain transparency. Many companies ask questions such as: “Is our client entangled in criminal machinations? Is he on a sanction list? Do we have to take measures against country-specific risks?”
In most cases, these companies do not possess the capacities to answer such complex questions themselves. This is where Schmidt & Schmidt takes over. Our specialists collect all information required quickly and reliably, structure them and give an assessment.
We are able to examine the following things for you:
- Key figures: Analyzing key figures, we can accurately evaluate the credibility and general economic situation of your target company. We protect you against business with partners that are not creditworthy!
- Sanction and watch lists: Multiple companies and individuals involved in them are to be found on sanction and watch lists of different institutions. The reasons therefore are diverse: entanglement in criminal or terrorist activities, money laundering or relations with unjust regimes. Looking at the wanted lists of different police departments can also be worthwile.
- PEP lists: Thanks to their closeness to politics, certain persons underlie stricter money laundering regulations. A person involved in your target company might also be among them. As doing business with such companies is riskier, it is worth checking it before.
- Bad press: Did your target company hit the headlines in the past? Did it file for insolvency or was it entangled in a corruption scandal? We will compile all relevant information for you.
- Country risk: Very often, huge risks are originating from the target country. This includes corruption, a lack of rule of law, currency fluctuations and conflicts. We will assess for you, how risky transactions with the country in question are.
Depending on your wishes and requirements, we can also examine partial aspects for you. For potential business partners with a particularly high risk or high-value transactions we will perform an Enhanced Due Diligence (EDD). This includes all information relevant to guarantee a comprehensive background check. We will assess the risk accurately on our own rating scale:
A - low risk:
You can carry out transactions with the target company without great concerns. We advise you however, to let your business partner be examined regularly.
B - medium risk:
You should take certain measures before carrying out transactions with the target company. We can advise you how to do it.
C - high risk:
We do not recommend to do business with the target company.
Investigative journalism – we assist you with your research!
You are a journalist and are searching for background information on a company at home or abroad for an article? We provide you the opportunity to obtain extracts from the commercial register and further information for free. Call us to discuss the details!