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.
“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 ...
“In light of the recent allegations regarding the corrupt behaviour of international football association FIFA, anti-corruption measures have again been thrust into the limelight. Alexandra Wrage, who once held a position on FIFA’s Independent Governance Committee before stepping down due to frustration over the organisation’s inability to reform itself, ...
“An anticorruption campaign sweeping China since 2013 has taken down scores of executives at state-run companies and government agencies across the country. Outside China, the Beijing government’s ongoing campaign has helped focus international attention on the pervasiveness of illegal gift-giving and bribery in the business world, including the project cargo ...
Jake Storey, vice chairman of the Maritime Anti-Corruption Network (MACN), a leading industry anti-corruption collective action organization and the winner of this year’s Innovation in Anti-Bribery Compliance Award, outlines a plan for addressing bribery and corruption in the shipping industry. ...
After donating to the Walk the Walk Foundation in Fall 2014, TRACE employees volunteered last month to stuff backpacks for local schoolchildren in Annapolis, MD. For more information on this project, read “Help Walk the Walk Fill Backpacks This Summer” on Eye ...
Ford Motor Company recently launched a smartphone application to provide compliance guidance to the company’s 187,000 employees. Alexandra Wrage, TRACE President and Founder, weighs in on her experience testing the app and the innovative tools compliance teams are using to reach ...
“Employees should know more than just “why” compliance is important. They should know who presents risks of improper payments (like government officials), what kinds of requests are inappropriate, where the company faces the most risk, when to involve others in ...