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There are instances where even Enhanced Due Diligence is insufficient. especially where Source of Funds, or absolute identification of Beneficial Ownership is a mandatory component of your investigation. Some instances where this is the case:
- Immigrant Investor Programs. where government agencies require strict verification of Source of Funds information.
- Taking on a new business partner, mergers & acquisitions, and other complex transactions.
- Investing in the developing world, where a Western investor is taking a minority share in a local company. You do not want to be associated with someone who is a liability
There simply is no commercially available source of what I can only designate as Enhanced Due Diligence Plus, and it is sorely needed. Where would one go for such business intelligence ? Probably the larger private investigative firms, but they do not always have asset in the specific area you need.
There is a real gap here; I wonder when someone will devise a solution?
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