Third Party Background Checks

Do You REALLY Know the Company or Principals?

  

aVeriFact, LLC provides private investigation options to performThird Party (ie:  Supplier/Vendor/Subcontractor/Partner/Investor/etc) background checks for due diligence purposes on potential Third Parties to ensure that the potential Third Party is financially stable, ethically sound and has a strong corporate culture. Our investigations are non-biased and provide the facts necessary to mitigate potential risk on contracts.


Third Party due diligence reviews are not only critical when bringing on a new vendor, but to also periodically check and ensure that the Third Party has been vetted for any changes from prior reviews. The goal is to validate that they continue to meet standards needed to provide their service or product without causing risk to your company, investors or customers.


Initial due diligence reviews should be introduced to Third Parties during the Request for Proposal (RFP) process or On-Boarding process. 


Periodic audit reviews should be conducted periodically (1-3 years) to identify changes in: ownership/management, bankruptcy filings, UCC filings, Tax liens, Civil/Criminal filings and credit. Such changes have potential impact on their ability to perform as agreed and could result in negative exposure to your organization. Relying on self-reported information may be tempting; however, it could prove costly.


A few points of interest:


· A Preliminary Findings report is provided via e-mail within 24-48 hours of placement outlining the initial credit and database findings. These findings are then researched further during the course of the investigation for any updates, corrections as determined by the investigator.


· Pricing is a flat rate, based upon the type of search and scope (single or multi-jurisdiction and 10/20 years).


· Copy of the consumer credit report is included at no additional charge, provided a signed consent is provided at the time the order is placed.


· We search aliases and name variations at no additional charge, 


· Turnaround time is 10-15 business days, unless ordered as a Rush order (7-10 business days). Rush orders incur an additional cost of $100.00 per subject.
 

aVeriFact, LLC opted to add the following to our Supplier/Vendor Pre-Qualification Background Investigations in 2017-2018, at no additional cost to our clients:


PROFESSIONAL SANCTIONS

1. FINRA (Brokers Check)

2. Department of Justice

3. SEC (Security Exchange Commission)

4. SAM EXCLUSIONS LIST – US FEDERAL CONTRACTOR REGISTRATION

5. OFAC LIST

6. OCC – OFFICE OF CURRENCY CONTROL

7. OIG – OFFICE OF INSPECTOR GENERAL

8. PEP (Politically Exposed Persons)


STATE ATTORNEY GENERAL (Searched by State)


FTC INVESTIGATIONS

- FEDERAL TRADE COMMISSION 

o  Enforcements

o - News & Events

o - Cases and Proceedings


NFA RECORDS AND COMPLAINTS

-  NATIONAL FUTURES ASSOCIATION

o Background Affiliation Status Information Center


ICIJ OFFSHORE LEAKS DATABASE (aka “Panama Papers”) by International Consortium of International Journalists


These enhancements are designed to address BSA/AML compliance and new Beneficial Ownership Customer Due Diligence Rule that took effect May 11, 2018. It is recommended that applications include the percent of beneficial ownership of Legal Entity Customers. Information provided will be utilized during the course of the investigation; particularly if such ownership is 25%+ direct/indirect ownership of the equity interests of a legal entity.

  

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