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Medium-High Risk

TRACEcertification due diligence for medium to high risk third parties


A Detailed Due Diligence Review, Analysis and Approval Process
For medium to high risk third parties, TRACE offers both members and non-members a comprehensive due diligence review, analysis and approval process establishing that an individual or organization has been thoroughly vetted, trained and certified by TRACE.

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.

“TRACEcertification provides the compliance
community with an invaluable service by setting
a global standard for third party due diligence
that is based on the highest benchmarks.”

Bapsy Dastur,
General Counsel – Head Legal & Integrity IMA,
ABB (UAE)

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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

memberAs 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.

 


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