THIRD PARTY DUE DILIGENCE
THIRD PARTY DUE DILIGENCE
Third Party Due Diligence
It can be a complex balancing act to manage risk at your own organization, let alone account for the actions of third parties beyond your day-to-day management. With Prescient’s specialized due diligence reports, we take the guesswork out of screening new and existing service providers. By equipping you with key information, targeted analysis, and captures of raw data, we help limit your company’s exposure to external risks.
- Foreign Corrupt Practices Act (FCPA) Compliance
- U.K. Anti-Bribery Act Compliance
- Third Party Risk Management (TPRM) Program Support
- U.S. and International Site Surveys
When potential vendors, suppliers, or distributors need to be vetted, our analysts uncover operational inconsistencies, unlawful business activities, or reputational warning signs. Our services form the backbone of a robust risk-based anti-corruption program, clarifying who you’re partnering with and helping your company comply with the Foreign Corrupt Practices Act (FCPA).
Prescient welcomes inquiries across all industries regarding our Third Party Due Diligence service. We support a variety of clients that require deeper insights to clarify risks and opportunities, including the following:
- Multinational Pharmaceutical Companies
- Manufacturing Firms
- Engineering Firms
- Air, Rail, & Freight Transportation
- Industrial Products & Construction
How It Works
When potential vendors, suppliers, or distributors need to be vetted, our analysts use intelligence-based analytic techniques to uncover operational inconsistencies, unlawful business activities, and other third party risk factors. By leveraging our extensive overseas expertise and in-house foreign language skills, we ensure that you stay compliant no matter how high-risk the jurisdiction.
The client was interested in vetting a potential supplier, a Russian oil and gas company claiming to be able to export large shipments through multiple countries.
Prescient’s in-house Russian language analysts used a combination of database and open source research to identify the subject entity. According to official records, the company was not registered as an exporter or producer of oil and gas, and did not maintain the necessary licenses to do so.
Further research through the subject entity’s website revealed large amounts of information stolen from the websites of legitimate companies, as well as Board of Directors made up of fake individuals.
Due to the information Prescient uncovered, the client gained crucial knowledge about the potential supplier’s true capabilities and was able to make an informed decision about next steps. Explore the full case study.