Services Case Studies

Business Relation: Customer

Background

• The Client appointed us to identify and verify the Beneficial ownership identification and verification of the target potential Corporate Customer who applied for the loan and majorly deals in the scrap business.
• The central idea of the activity is to assess the creditworthiness of the potential Customer and about the reputation of the Customer

Key Actions Taken

• Establishment of identity of the Customer
• Identification and information gathering of Target Customer
• Media and internet searches to identify any unfavorable or adverse information.
• Political Exposed Person Check
• Onsite Assessment at the location(s) of Customer to identify any related adversarial information.

Underlined Results

• The Statutory Auditors of the Customer were found to be a relative of the Director of the Customer
• The Promoter of the Target Customer was found to be in close proximity to a national-level political personality.
• One Director who was also found to be the director in the other 4 companies found as a willful defaulter in 1 Company.

IDD Insights

• The family relationship with Statutory Auditor indicates potentially compromised financial numbers.
• Influential political relationship indicates the potential loss of the loan amount.
• Willful defaulting indicates non-payment of the loan back despite the ability to repay it which ultimately indicates the future non-payment of the new loan amount also.