13 February 2019 at 8:45 am Written by

I’ve had some great meetings in recent weeks with people from a variety of industries here on the Isle of Man and elsewhere. A couple of things have become abundantly clear though. When explaining the services I offer not everyone gets what Customer Due Diligence (CDD) is and why it is a vital business process.

For the most part CDD is associated specifically with Anti Money Laundering (AML) procedures and is required to comply with legislation and regulations. It involves collecting, evaluating, collating, analysing and disseminating information. In another life I knew that as the process by which intelligence is developed. CDD, however, is not just confined to AML.

A CDD enquiry is essentially an investigation, much of which nowadays, is conducted using online resources. It has applicability to a wide range of business and personal issues. Here are just some ‘CDD’ investigations I have conducted for clients recently;

  • Investing
  • Initial Coin Offerings (ICOs)
  • Business takeovers
  • Company reputational issues
  • Insurance fraud
  • Romance fraud
  • Reviews of previous investigations
  • Arson
  • Online Security Assessments (pre-vetting as an example)

CDD is probably best described as a process of ‘risk assessment’. Post investigation you are presented with findings and you decide whether you wish to be further involved with the subject of your enquiry. Think of it as a form of insurance policy or a security blanket.

Of course you have the option of conducting your own CDD and some organisations do that extremely well. But, let’s assume this relates to a business relationship, which if successful, would benefit your organisation financially. In the event that something goes wrong, have you been completely objective in your enquiry? Worse case scenario, ask yourself what would the regulator think?

I’ve been involved in the risk assessment business for more years than I care to remember. I don’t like to use the term expert, but I offer expertise in that minefield known as the Internet and will help give you comfort and security. Enquiries are confidential and your information is handled securely. I use my Intellect to provide you with a quality product.

My fees? I don’t do ‘bargain basement’ reports, but neither do I charge the earth. Like any industry you get what you pay for. But I love what I do, and I love to be able to help businesses avoid scams, thieves, fraudsters and cyber criminals.

Contact me here for a confidential discussion

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