Showing posts with label international due diligence. Show all posts
Showing posts with label international due diligence. Show all posts
Monday, September 30, 2013
How Private Investigators Can Help Reduce Business Risk
















There is a trendy topic in today's business world that is considered one of new and best management practices, and that business owners and executives not always understand very well. It is risk management. Risk management is certainly nothing new, but it's emphasis in the business climate has never been stronger. These days, no corporation or medium sized business can live without it for long. It is the process in which companies identify their risks, assess them, take action to minimize and monitor and control the chances of having an unfortunate event occurring. It may seem simple, but the reality is that it is quite complicated because all the process depends on accurate and quality information. Obtaining the right information is not so easy.

Considering that countries like Russia, China, Malaysia, Ghana, Nigeria and Philippines have been listed as high fraud risk countries, some extra precaution won´t hurt. Professional private investigators do not limit their jobs to following unfaithful spouses. These days, an international investigation company can help business clients obtain the information and evidence they need to make an informed decision, and uncover pertinent information that will point out if there is any unknown risk in your operations, partner or investment that you're considering.

Consider the following situations where investigators can add significant value:

1. Hiring. Recruiting new people is always a risk regardless of the level. Discreet investigations can minimize the risk of a negligent-hiring lawsuit when hiring internationally. A pre-employment screening will help your business minimize the risk of hiring someone that is unqualified, unethical or not who they claim to be. Making sure you have an honest candidate is the first step and one of the most important in risk management.

2. Assessing your value chain. Providers have a great weight when it comes to your business sustainability because they are part of your reputation. Your company is at risk when your providers decide to ignore anti-corruption and trade control laws, or international treaties on fair commerce. In a globalized world, where emerging economies like the Philippines, China and India are providing a great portion of manufactured goods and services to developed countries and clients, verifying your foreign business contacts is essential.

3. Investment opportunities. Reducing risk when investing overseas starts by obtaining reliable, accurate and hard to obtain information. In most cases, getting the facts you need and verifying a reputation of a person or company in a foreign country, or checking to see if a factory or office really exists, requires the support of a private investigator in that country with access to local information, who speaks the language and can verify the facts.

4. Company verifications. A company verification will provide information on stock ownership, legal registration, operations, reputation, verification of the management, court and litigation history, assets, and screening the case for fraud. If you're planning to put your money in South East Asia, Africa, China, Latin America or India, or even Eastern Europe, you had better be sure the company and contact you are dealing with are legitimate.

5. Mergers and acquisitions. These might be the only situations in which companies are really aware of financial risk and really do their homework, but due diligence is often done in house and does not adequately identify risk and verify foreign contacts at the same level that experienced private investigators do. Think of an investigator on the ground where you need him as your eyes and ears, and a wise form of insurance to have. They can obtain independent references, photographs offices and facilities, conduct asset searches, and verify all business and legal filings, and properly screen the case for fraud.

Risk management starts with being able to obtain useful and precise information at the right time. Be safe. When considering a new investment or new partnership, contact a professional.

A. Hathaway
© 2013 A. Hathaway

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Thursday, July 18, 2013
Why Companies Need International Due Diligence



International due diligence is a common and leading practice for companies that operate in the international world.  Globalization is now the reality, and global business requires global due diligence to avoid fraud and scams and costly business mistakes.  In fact, it is a practice supported by the U.S. Foreign Corrupt Practices, Act (FCPA), U.K. Bribery Act, and multinational agreements urge companies to know their potential international partners before engaging in business.

Why do companies need the service?  The grass is always greener on the other side, as the saying goes.  Once you enter into the other's world, however, things are not always as they seem.  To screen a company prior to a merger or prior to making payment is a wise move. According to international investigators around the globe, due diligence can prevent companies from falling into major and costly traps involving foreign partners.  John Wallace at Wymoo International says the damage done is far too common.  "If you're in the U.S. or Canada, and you're thinking of doing business with a new company or person in Malaysia, France, Ghana, Hong Kong, Russia or any place on the map, you need a local and trained investigator who speaks the same language to verify facilities, reputation, business filings, check references, and screen for fraud."

Developing countries such as India and China and the Philippines can offer great returns on investment, but the risk is high and should not be ignored.  Too many managers keep their fingers crossed and hope the deal will go through, rather than having the insurance they need.

The most common practice these days from fake foreign companies is to approach corporations or medium to small businesses online.  The Internet has benefited all the bad guys with the gift of anonymity and a fake company can look quite professional and reliable online, but there's almost no way to know for sure if you haven't been there or verified all the known information.

International due diligence performed prior any important move is a first and responsible step.  Professional investigation companies with investigators on the ground where you need them can provide clear evidence, so you can make an informed business decision based on solid evidence.  In a world with rising fraud and scam cases, it pays to do your homework and be safe.

A. Hathaway 
© 2013 A. Hathaway


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Saturday, June 15, 2013
Russia Investigators Helping Clients Avoid Internet Scams
















Many years have passed by since Russia PI™, a U.S.-based professional private investigation firm, began conducting investigations in Russia and the Ukraine.  Like many private investigators in the region, the company reports a steady and rising demand from global clients concerned about internet scams and fraud, and how to lower the risk.  Whether it's a corporate or individual client based in New York, Hong Kong or London, people around the world are looking to do business or have personal relationships with those in Russia, but they need to do so safely.  For this reason, the international background check business has been booming.

Services by most private investigators in Moscow, Kiev and St. Petersburg include due diligence, dating background checks, surveillance, asset searches and complete background check investigations.  Criminals in Russia tend to be internet savvy, and many of the world's best hackers come from Russia.  Russia is also known for beautiful women, and this combination has proven to be a dangerous one.  When internet savvy criminals join forces with beautiful women, expert dating scammer and romance scams flourish. Russia investigators work hard to make sure their clients can carry on relationships in the region, but avoid the pitfall of such online crime.

Russia and the Ukraine are high risk countries for internet fraud. Romance scams from the region remain high despite all the awareness and efforts made by law enforcement.   As internet users and people become more aware of the risk, scammers change their tactics and evolve their strategy.  In short, online scams from Russia can be highly complex and even the most skeptical can be a victim.  That's why experts agree a dating background check is more important than ever.

Private investigators with the proper training and agents on the ground locally provide an invaluable service.  They speak the language, and they are your eyes and ears on the ground.  They have access to public and government records, and can verify identity, passports, documentation, education and employment, travel records, and screen your case for fraud.

As the world becomes more connected through the internet and mobile devices, scams are starting to occur in new ways.  For companies looking to invest in Russia, business fraud and investment scams are a serious barrier to entry, and international due diligence is strongly advised.

Best of luck,

A Hathaway
© 2013 A Hathaway 
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Wednesday, April 10, 2013
International Bank Records: How to Search and Uncover Assets














In international due diligence, the search of bank records of a company or individual is often a key piece of evidence.  It can be invaluable information for clients seeking information on a potential business partner, investor or buyer.  Lawyers often seek the service as well as part of a divorce case or when trying to determine if a legal case is worth pursuing.  After all, in many cases there is no need to do business with or sue someone who has no assets or bank accounts.  In countries like the U.S. and Switzerland, uncovering assets is not always easy, and each country is different.  Lawyers and private investigators access bank records and assets on a routine basis.  With the right investigator, asset searches and bank record searches are highly accurate.

For international businesses it is crucial to contact the right international investigators to avoid getting involved in unethical or illegal practices.  Or just as bad, to pay for a search that is not complete, thorough or accurate.  In some cases, unethical investigators or those with no experience or knowledge on how to conduct an asset search will take a client’s money and not even conduct the search.  Reputable and professional firm’s like Wymoo® International and Kroll can help clients know their options for both due diligence and international asset and bank searches. When considering an international bank account search on a company or individual, keep in mind you’re seeking hard to get information, so you should expect to pay a realistic price.

In the business world, bank records searches of a third party and without a court order are hard to understand.  Private investigators and lawyers with the right contacts understand and know very well that there are legal methods to obtain bank records and asset information on nearly any company or individual.  A court order is not required unless you’re seeking physical and actual statements from the bank, such as official paper statements from a bank.  If you just need to know where an individual has accounts, and how much money he or she has, then you would do well with an international bank account search by a reputable private investigation firm.

For companies considering a buyout, sale, merger, or new partnership, it can be essential to find out if you’re new contact has the assets and financial backing as claimed.  The international due diligence  process, in most cases, is not complete with a bank account search.

Bank account searches are the most effective and accurate asset searches available, and they are a legitimate process for companies to minimize risk. In this ever changing world where the economy is in constant turmoil, it is perhaps the only way a business can really see where a new contact, company or customer is positioned financially.  Be safe and verify.  Uncovering assets is knowledge, and knowledge and information is the key to success in today’s world.

Bank records search services are available and valuable tools in international asset search.

Best of luck,

A Hathaway
© 2013 A Hathaway
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Saturday, March 2, 2013
10 Major Risks of Social Media and Networks














 We hear a lot about social media and social networks these days.  The benefits are well known.  They make meeting and connecting with new people easy, and they facilitate easy communication between groups of friends and professional contacts.  But, what about the risk?  Many users aren’t even aware of there being any risk.  In fact, this seems to be precisely what makes social media and networks the hunting ground of criminals. International investigators  say it’s important for subscribers to know the risk, and to take appropriate precaution.

Many users share their lives and daily activity and even personal data on sites like Facebook, Twitter, MySpace and others.  We post photographs, emotional states, work promotions, vacations,  weekend trips, relationship status, and even some post dates of birth (birthdays), and addresses.  Users sometimes broadcast to the world who they are, where they live and where they work, and even what they look like, how they feel, and their current relationship status.   Never before has so much been at stake in the world of privacy protection, and the issue is growing. This article will take a look at just some of the major risks of sharing too much information online.

1. Identify Theft
By sharing too much information on social media, you open the doors to criminals who are actively seeking your information.  Criminals love to get their hands on personal data such as full name, address, date of birth, employer, SS#, photographs, etc.  Keep the info offline.

2. Loss of Privacy
By posting photos and information on Facebook or Twitter or other sites, users may not always know or understand that the information can easily be spread across the internet.  By posting personal information on the internet, it may soon make your life an open book.  While it may not be important to you now, it could come back to haunt you.  People have a right to privacy, and a right to know who is using, selling, distributing, buying and stealing their information.  While companies like Google, Facebook and MyLife continue to profit from tracking your internet usage and selling your information, it’s important to fight back, and keep your internet profile small.

3. Romance Scams
Whether you’re looking for love or not, romance scams and experienced internet criminals can target you online.  Even if you’re on Facebook and not looking to meet someone, a trained scammer can open up some conversation, trust and eventually your pocketbook.  Keep your circle of friends and sharing to a trusted minimum, and be skeptical of new contacts.

4. False Profiles
So you’ve found the perfect contact online, and want to share more or get to know the person better? International background check professionals estimate that as many as 50% of all profiles on the internet are false or fraudulent.  Be safe, and verify with a professional private investigation firm if needed.  The internet is like a box of chocolates, you never know what you’ll get.

5. Employment Risk
More employers and companies around the world are joining the trend of violating your privacy and your rights.  Many managers and human resource representatives are now searching Facebook, Twitter and Linkedin for information on you prior to, during and after your employment!  This means the crazy incident that happened over the weekend, that you shared online with “friends” could end up costing you your job!  Think before you share, and remember people are watching.

6. Serious Crime
It’s not all about spam and identity theft.  Many cases of harassment, stalking, burglary, rape and even murder start online.  Criminals use the internet to learn more about you before they make their move.  It’s not uncommon for criminals to find your house on Google, find an image of your house on Google Maps, and then find out even more about you and your family on MyLife or similar site that collect, sell and distribute your personal data without your consent! 

7. Hacking Risk
Connecting with strangers and unknown people from around the world on social networks opens you up to hacking risk, whether through email or links and attachments.  A harmless communication with a new contact could give a criminal access to your computer and passwords. 

8. Viruses and Spam
Once a spammer or internet criminal has your confirmed contact information, he is likely to send you a virus or spam, and even sell your email address to other online criminals.  Keep communication on the social network, and be cautious about revealing your email.

9. Investment Scams
Looking for investment or business opportunities on Linkedin or other social networks?  Be safe and verify.  Contact a professional to verify the company or representative with an international due diligence  or background check investigation to minimize your risk for fraud.

10. Fake Job Offers
Think you’ve found the perfect job opportunity?  Many scammers target users of social networks pretending to be employers with great opportunities.  Their goal is to get your personal data, resume and even a payment from you.  Be skeptical and verify the company.

Best of luck,

A Hathaway
© 2013 A Hathaway

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Tuesday, September 25, 2012
Company Verification Used to Prevent Internet Fraud















Internet fraud is a growing problem and a growing portion of that fraud is taking place with false or fictitious companies using professional looking websites.  Scam victims believe that the website is a real company, and proceed to submit their credit card information to the website or company, or even initiate a business relationship with the company, and even send funds to their new partner’s bank.  False websites can assume the identity of a real company, or simply be false.

Fraud experts say it’s important to use websites with Trust seals like Trust, the Better Business Bureau and McAfee, so you know you’re dealing with a real company and that the website or company has at least been verified at a basic level.  You won’t find a false website with any of these logos with an active link to the verification page.  Also, investigators say to search the internet to see what others are saying about the company, and be very skeptical if you find no or too little information.  Any real company should have a good amount of information online.

Companies in India, China, Latin America and Africa, as well as Southeast Asia can offer attractive investment opportunities to foreign investors.  The question remains, how do you know you are dealing with a real company or a legitimate investment opportunity?  International business deals run a high risk for fraud and scams, especially if the contact is made via the internet.

Company verification and international due diligence services are more important than ever.  International investigators with offices or agents on the ground can verify business registration, offices and facilities, reputations, ownership and more.  Screening the company or website for fraud is becoming more and more important, as the losses from internet fraud and identity theft can be staggering.  It’s important to verify first, before agreeing to any terms or business deal.

Millions of dollars are lost each year in the U.S. and even companies are trying to find better ways to keep their businesses and employees safe.  International opportunities and reaching out to new suppliers and businesses overseas can be profitable and lucrative, as long as the company or representative is legit, and who they claim to be.  That is where due diligence comes in.

International investigators advise caution when dealing with a new company, and to verify unknown businesses and contacts with foreign companies prior to sending detailed information about your business or financial situation.  If such sensitive information lands in the wrong hands, you could be a victim of internet fraud, identity theft and other financial losses and headache.

Best of luck,

A Hathaway
© 2012 A Hathaway


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