Category: Due Diligence

‘Credit Suisse Papers’ Leak Shows How Lender Banked Criminals and Tyrants with Little Due Diligence

Due Diligence, Money Laundering
TROUBLED Switzerland banking giant Credit Suisse was thrown into further crisis today as a massive data leak revealed a client list involved in money laundering, torture, drug trafficking and corruption. The data dump shows up massive failures of due diligence by Credit Suisse despite repeated promises by the bank that it would end relationships with dodgy clients and illicit funds. The Suisse Papers also shed light on one of the world’s largest and most secretive financial centres, based out of Geneva and Zurich, and grown used to operating in the shadows. Swiss financial institutions manage about 7.9tn CHF (€7.56tn) in…

The Increasing Regulatory Requirement of Supply Chain Due Diligence Compliance

Due Diligence
The requirement for businesses to do supply chain due diligence in order to comply with modern slavery and other environmental, social and corporate governance (ESG) rules has steadily increased in the past few years. The pace of change has increased with individual countries introducing their own homemade rules, EU legislation is on its way, and potential litigation is looming in at least one European country. The fact that many of these local rules have extra-territorial effect provides for a complex and fragmented compliance framework where international businesses operating across a number of jurisdictions will need to adhere to a range…