Enhanced Due Diligence

Enhanced Due Diligence (“EDD“) is a more comprehensive and rigorous process of gathering information and assessing risks associated with a customer, particularly in the context of financial transactions, business partnerships, or client relationships. EDD is typically applied when dealing with higher-risk customers, such as politically exposed persons (“PEPs“), clients from high-risk jurisdictions, or those involved in complex or large transactions.

The need for Enhanced Due Diligence arises from several factors:

1. Regulatory Requirements: Financial institutions and businesses are often required by law to conduct due diligence measures to prevent money laundering, terrorist financing, and other financial crimes. Regulators impose EDD as part of compliance obligations.
2. Risk Mitigation: EDD helps mitigate the risks of engaging with high-risk customers or transactions. By conducting more thorough investigations, businesses can better understand potential risks and take appropriate actions to reduce them.
3. Protection of Reputation and Integrity: Engaging with individuals or entities involved in illegal activities can tarnish a business’s reputation and integrity. EDD helps companies to avoid association with such entities and protect their reputation.
4. Prevention of Financial Crimes: Enhanced Due Diligence measures are critical in preventing financial crimes such as money laundering, fraud, and terrorist financing. Businesses can identify suspicious activities and take preventive measures by conducting thorough checks.
5. Comprehensive Risk Assessment: EDD allows for a more comprehensive assessment of the risks associated with a customer or transaction. This includes assessing factors such as the customer’s source of wealth, business relationships, and potential exposure to politically exposed persons (PEPs).

Overall, Enhanced Due Diligence is essential for businesses to comply with regulations, mitigate risks, protect their reputation, and prevent financial crimes. It provides a more robust framework for assessing and managing high-risk customers or transaction risks.

Why use Vigilant Enhanced Due Diligence Reports

• We only use Ethical and Non-intrusive methods.  The subject will never be aware that due diligence research has been undertaken.

• Our reports are compiled using open-source Intelligence (OSINT), including national and international databases.

• Our workflows are designed with you in mind. We aim to turn around the report for a VEDD within 5 days.

• All reports are developed and prepared with OSINT data and Vigilant screening in-house by highly trained consultants.

• Integrity is critical to our business. We understand the importance of your data and use the latest technology to protect it.

• VEDD Report

  Report Includes
  Valid ID Check
  Sanctions Check
  PEP Check
  Adverse Media
  Social Media Scrape
  Credit Check

• VIDD Advanced Report

  Report Includes
  Sanctions Check
  PEP Check
  Social Media Scrape
  Adverse Media
  Credit Check
  Basic Criminal Record Check
  Dark Web Check
  ID Validation
  Employment History
  Companies House Search
  I2 Charts detailing connected entities or persons
  Risk factor linkage for customer consideration

• Bespoke VCDD Report

  This is a bespoke service delivered by our in-house Risk and Compliance experts. The engagement will be scoped from site meetings with the client to establish the exact requirements and risk exposure. Once the scope and customer expectations have been established, we will provide you with a detailed proposal and quotation. Once engagement has been established the report will normally take 10+ days to complete depending on the complexity.