Third party due diligence system
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How EY can help?

EY’s third party due diligence system enables clients to screen a large number of third parties quickly and efficiently. EY can help its clients objectively analyze risk associated with third parties by using its network of global teams and through its access to a variety of sources of information including public records, press and media archives, court records, etc. The system can also be used to screen high-risk customers from an anti-money-laundering (AML) perspective and identify politically exposed persons (PEPs) or links to state-owned entities.

For further information please contact:
India
Arpinder Singh
Partner and National Director
Fraud Investigation and Dispute Services
+91 22 6192 0160
Dinesh Moudgil
Executive Director
Fraud Investigation and Dispute Services
+91 22 6192 0584
EY's third party due diligence system

In today’s business environment, the risks faced by global companies in relation to the third parties associated with them, including customers, vendors and outsourced business relationships, have never been greater. Inadequate due diligence conducted by organizations on associated third parties can result in financial and reputational loss and also lead to regulatory enforcement actions.

Rising governmental enforcement activity, especially relating to anti-corruption and bribery laws such as the Foreign Corrupt Practices Act and the UK Bribery Act and the increased focus on enterprise risk, has resulted in global corporations taking a closer look at how they manage their third party due diligence programs.

Coverage

Reviewing business partners against a number of parameters through a comprehensive press and media review, uncovering areas including derogatory publicity, involvement in bribery and corruption, financial irregularities, intellectual property violations, counterfeiting etc.,

Assessing whether business partners (companies and individuals) appear in any of the sanctions, and embargo and watch lists released by government and multilateral agencies

Identifying the relations of the entity or PEPs with the Government

Identifying allegations relating to financing of terrorism, money laundering and/or other illegal activities

Identifying regulatory non-compliance issues

Identifying any significant litigations


Offerings/Services

EY’s third party due diligence services are driven by the research methodology considered most suitable for the various types of third parties. A quick sanction and watch list search may be recommended in cases where the perceived risk is considered to be low, while detailed on-ground information collection may be required in cases with higher risk. The various offerings are detailed below: