New requirements for counterparties check in 2022

вестник 13.01.2022

The Information and Analytical System Globas provides services, the request for which has existed for more than 25 years: checking companies, analytical functionality and tools for the right decision concerning counterparties choice.

Globas offers solutions that will help to meet legal requirements, manage risks, and gain a competitive advantage due to prompt information and tools for quick and deep analysis.

GLOBAS FUNCTIONALITY MEETS NEW CHECKING REQUIREMENTS:

  • AML / CFT and Compliance Reports;
  • integration using Globas.API;
  • automation of the process of selection and check of counterparties;
  • monitoring;
  • check against sanctions lists;
  • analysis of affiliation and influence of beneficiaries;
  • checking persons to identify conflicts of interest.

The high probability of restrictions, unpredictable bankruptcies, non-fulfillment of obligations by partners, as well as resolutions of regulatory bodies and legislative changes have formed in 2021 new requirements for the procedure for ensuring economic security, which will be relevant throughout 2022.

5 CURRENT TRENDS IN BUSINESS RISKS AND DUE DILLIGENCE

1. Implementation of a compliance system in response to legal requirements.

Facts:  
  According to the General Prosecutor's Office, 30 thousand corruption crimes were recorded in 2021, 12% more than in 2020.
Over 200 thousand organizations are included in the list of tax debtors for December 2021. In 15 thousand organizations, the CEOs are disqualified persons. Identifying and knowing the counterparty is an important legal requirement, which AML / CFT and Compliance Reports in Globas will help to fulfill.

2. Demand for massive checks of counterparties caused by deferred demand after a strict lockdown.

Case:  
  The industrial enterprise has been capturing the list of suppliers in Excel for several years. Having discovered an increase in accounts receivable and the counterparties ignored payment reminders, the company's employees used the Analysis of the list in Globas and found 22% of liquidated and bankrupt companies in the list of their long-term partners.

3. Monitoring of factors that indirectly indicate an unstable financial position.

Facts:  
  According to Globas, about 10% of companies were declared bankrupt or liquidated within 12 months if they have records on false CEO, shareholders or address, pledged authorized capital, tax debts and other negative non-financial factors.

4. Search for new partners and customers due to the formation of new supply chains and reorientation to domestic suppliers.

Case:  
  Due to the pandemic and lockdowns, the volume of production and cargo transportation around the world has decreased. Russian enterprises experienced a shortage, in particular, of electronic components, feed additives for animals and other goods traditionally imported from abroad. The "Filters" section in Globas contains over 100 settings, which will provide an accurate search for reliable suppliers.

5. Countering the growing cybercrimes and fraudulent activities of individuals and shell companies.

Facts:  
  According to the General Prosecutor's Office, in 2021, 4,2% more economic crimes (107,115) were recorded, and 6,2% more people who committed economic crimes were detected (43,023).
Globas will help to gather and analyze information about a company or person, identify factors requiring attention, as well as verification of passport and tax number (INN), check for debts, bankruptcy, ban on business activities and much more.