Enhanced Due Diligence (EDD) Explained: When and Why You Need It

Today’s financial and business landscape is more complex than ever, characterised by continuous developments in technology, policy and regulation in a globalised world. The financial crime landscape is no less intricate; criminals continually seek to exploit weaknesses that inevitably emerge in ever-changing networks that bring together different actors, jurisdictions, and motivations. 

When illicit actors succeed in exploiting these systems, businesses, individuals and societies suffer the moral and economic losses associated with money laundering, fraud, trafficking, terrorist financing and many other financial crimes.  

Why EDD Matters Today?

As a risk-oriented business, Themis provides you with the tools to delve beyond standard tick-box background checks. We offer bespoke, in-depth intelligence on which to base decision-making, protecting your business while supporting global efforts to prevent and deter financial crime. These goals are increasingly relevant as our shared understanding of the importance of compliance grows, and legal and financial repercussions for non-compliance become more substantive and commonplace. 

Enhanced Due Diligence (EDD) is one of the most powerful tools at your disposal to address the financial crime-related risks faced by you and your business. Through Themis’ EDD reports, our team of analysts mobilise multi-lingual and jurisdictional expertise to conduct deep-dive investigations into subjects, ascertaining financial crime and reputational risk exposure posed to our clients. We always tailor our research to your specific needs, tracing identity and ownership information, mapping political exposure, establishing source of wealth, and performing in-depth adverse media, litigation and sanctions checks necessary to make informed decisions to protect your business interests. 

• Have your basic KYC/Due Diligence checks turned up some amber or red flags you want to investigate further?
• Are you engaging in high-value business transactions requiring a higher level of corporate intelligence?
• Are your partners, clients or suppliers operating in high-risk sectors or jurisdictions demanding of increased care?
  

Our team has extensive experience conducting investigations with a global scope and in a wide variety of sectors, from banking and finance to real estate, manufacturing, energy, mining and more. We draw on our corporate and financial crime database, powered by multiple sources and proprietary data, and combine this with comprehensive open-source searches as well as human intelligence inquiries that contribute first-hand knowledge of a subject. We not only screen the primary individual or entity but also their network of relatives and associates. Our analysts’ creative approach to investigations allows us to retrieve information from diverse and unconventional sources, capturing nuanced risk profiles often overlooked at first glance. 

How to Commission a Report?

To commission a report, visit www.tathabbat.ai/en/intelligence and submit your request. Whether you’re onboarding a new client, assessing the risk posed by a business partner, or reviewing potential financial crime exposure in your company’s network, Themis’ team will work with you to address your unique requirements and ensure you are taking the necessary steps to protect yourself from liability, losses and reputational damage while saving your business time and money down the line and building trusted relationships in the process.