A Detailed Due Diligence Review, Analysis and Approval Process
This process is based on internationally recognized due diligence procedures that have evolved over the course of the last decade as a result of TRACE’s experience conducting anti-bribery due diligence and continually benchmarking the best practices of hundreds of multinational corporations.
community with an invaluable service by setting
a global standard for third party due diligence
that is based on the highest benchmarks.”
General Counsel – Head Legal & Integrity IMA,
In addition to an annual renewal requirement, TRACEcertification candidates undergo mandatory online anti-bribery training in their native language. TRACEcertification also provides ongoing monitoring of third party relationships with constant screening of names against international sanctions and enforcement lists that are updated every 24 hours.
TRACEcertification reports can also be purchased by third party intermediaries, eliminating screening costs for multinational companies while providing the assurance that third parties have completed a thorough review.
What’s Included in the Report?
- Detailed company information, including information on subsidiaries and affiliated entities
- Business registrations, as applicable
- Corporate literature or a company description
- Beneficial ownership (except for shareholders owning less than 5% of publicly-traded companies)
- Identification of directors and key employees
- Curriculum vitae for owners, directors and key employees
- Additional ownerships, directorships and employment of all owners, directors and key employees
- Current government employment of owners, directors and key employees
- Previous government employment of owners, directors and key employees
- Contact information for three business references
- One financial reference or audited financial statement
- Media search dating back ten years in a comprehensive international database
- Denied party screening and two negative media searches
- Intermediary code of conduct
As an exclusive member benefit, TRACE Corporate Members may sponsor their third parties to receive this comprehensive due diligence review, analysis and approval process at a discounted rate.
TRACEcertification is not a guarantee against past or potential wrongdoing by the certified entity or a guarantee against potential liability. A summary of any “red flags” identified during the TRACEcertification review will be included in the report, but not all red flags preclude TRACEcertification. Companies doing business with the TRACE Certified entity should always request a full copy of the underlying report.
With the lowest levels of foreign corruption enforcement in 9 years, the Department of Justice is rethinking its approach to corporate crime by targeting the worst offenders and individuals. Top officials have reaffirmed the agency’s dedication to fighting foreign corruption, stating that ...
“Earlier this week, sources close to a federal investigation into bribery allegations relating to some of Walmart’s foreign operations informed the Wall Street Journal that the three-year probe found “few signs of major misconduct” in Mexico. The same sources implied ...
Alexandra Wrage, TRACE President and Founder, sat down with Womanthology for a Q&A to discuss why women are less likely to pay bribes and how that could change in the future as greater gender balance in leadership positions is achieved. ...
TRACE Representative Martha Mallory spoke at the “Let’s Talk About Corruption” (“Hablemos de Corrupción“) conference on October 12, 2015 in Mexico City. Martha was part of a panel of industry experts discussing the topic “Legal Compliance is Good Business” (“La legalidad es un ...
The Institute of Internal Auditors in Spain (IIAS) invited David Ireland, TRACE Business Development Consultant in Europe, to talk about anti-bribery legislation during their monthly event “Mondays at the Institute” (“Lunes del Instituto”). In his presentation, Ireland highlighted the differences between the FCPA and the UK Bribery ...
Alexandra Wrage, spoke at a training workshop in Seychelles organized by the Citizens Democracy Watch Seychelles (CDWS) in collaboration with the U.S. embassy. The workshop brought together representatives from all the political parties of Seychelles, policy-makers and practitioners from the government, private sector, ...
“It started with executive salaries. Once thought to be a matter of great privacy, many countries now require disclosure of corporate salaries for executives at publicly-traded companies. Today no one, except perhaps the anachronistic leaders at soccer’s ruling body, FIFA, ...
“A series of anti-bribery conventions sponsored by international and multinational organizations have been ratified by almost every country in the world. As a result, these countries have enacted laws that prohibit the payment of bribes to their own government officials, ...
“President Obama has begun to pry Cuba open to the US business community. For Americans, Cuba offers a combination of the unknown and formerly forbidden, paired with proximity and cultural familiarity. For others, changes will bring renewed competition in a ...
TRACE International, the globally recognized anti-bribery association committed to advancing commercial transparency, has announced the 2015-2016 participants of the TRACE Scholar Program. Ms. Salma Begum of Pakistan and Mr. Orest Stasyuk of Ukraine will begin their studies this month in ...