New technology has revolutionized corporate investigations and changed the way we go about them. There’s greater efficiency, new insights, and broader reach. However, the downside is that this technology can lull both investigators and clients into a false sense of security.
Computers can provide us with information, but people are still better at evaluating data within context, such as identifying how useful the information is and what it is relevant to. In short, technology can’t yet replicate human analysis – and yet we continue to see a growing dependence upon it for exactly that.
The Value of Professional Investigators in Corporate Due Diligence
In countries where there are robust public records, this dependence on automated scanning and investigative tech is particularly evident. Although investors and corporations still recognize the value of actual investigators in challenging regions across the globe where the public records may not be so accessible or accurate, when it comes to investing in due diligence insidethe US and Canada for example, companies are increasingly drawn by the promise of these low-level automated scans.
However, it’s important to consider that these types of surface level scans will not and cannot encompass a breadth of understanding of an investigated subject. Software driven data harvests conducted without the analytical power of the human mind could expose businesses to risks they may be unaware of, including things like reputational risk, fraud, money laundering, and more.
Most of these automated scans lack coverage on the target in media, whether that’s on social platforms or journalistic content. This surface level research cannot hope to provide a clear and accurate picture of a subject, and it certainly would not appease judicial officials if something were to go wrong.
For example, single-location local records checks cannot account for whether a person has moved cities. It would also not pick up any information about whether or not the subject faced allegations of criminal activity, which is something that can be identified through doing a media assessment. Furthermore, media research can also illustrate any extreme political views or subjects that an investor or company might not want to be associated with.
The professional experience of a professional who has done hundreds, if not thousands of due diligence investigations is something that is highly valuable. They are more likely to be able to provide context around findings that may initially seem adverse, such as whether or not a particular practice is typical for a particular industry or they might pick up contextual clues that could uncover a previously overlooked detail.
Companies seeking to save a dime by purchasing an automated scan with no human inference could be unknowingly setting themselves up for a huge risk in the future.
Our Answer: Investigator Driven Quick Checks for Individuals and Companies
Propelled by increased regulatory concerns among corporate entities and a more competitive environment amid the offers of automated checks, Centry Global has formulated an answer to the question of how to marry meaningful analysis to efficiency in due diligence investigations with our Quick Check (QC) program.
What to Expect from a Centry QC
The QC program combines an identity review, sanctions screening, compliance check, and media research into a single, well-organized background check package on either individuals or companies with a turnaround time of 5-7 business days.
Quick Check of a Company
- Identity
Review
- Key financial figures
- Risk Level
- Beneficial Owners and Senior Management
- Compliance
Review
- Sanctions and Watchlists Screening
- Social/Adverse Media Review
- Analysis and/or Recommendations
Quick Check of an Individual
- Identity
Review
- Shareholdings and Directorships
- Compliance
Review
- Sanctions and Watchlists Screening
- Politically Exposed Persons Screening
- Litigations Check
- Social/Adverse Media Review
- Analysis and/or Recommendations
For more information on these Quick Checks, please feel free to contact us at info@centry.global or on our LinkedIn, Facebook and Twitter pages!
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