Creating a due diligence process is an important component in today’s global business market, and vital for your firm to safeguard its regulatory reputation and comply with requirements under Bermuda’s AML/ATF and sanctions regimes. Certain clients are more complex and may create a higher risk for money laundering. Creating and implementing an enhanced due diligence program for these clients is key to mitigating this risk and implementing a successful Know Your Client and Sanctions Program, while supporting the firm’s business.
Oyster Enhanced Due Diligence allows firms to make more informed decisions about a business or individual, and affords additional assurances when dealing with potential high-risk customers, such as politically exposed persons.
After a review of existing policies, procedures and practices, Oyster can support and help refine your due diligence programs by:
- Educating staff on regulatory expectations and industry trends
- Implementing or changing existing practices to achieve industry best practices
- Creating reports to identify risk
- Acting as an outsource partner to conduct enhanced due diligence on high risk accounts
- Remediating historical gaps in due diligence files
The Oyster Difference
Oyster’s consultants have law enforcement and intelligence experience and are trained in proven due diligence and techniques to gather the right information from open sources, subscription-based services and public records and documents, while adhering to strict due diligence research guidelines. Oyster offers practical solutions to industry challenges. We do not offer cookie-cutter solutions; our recommendations are based on your firm’s business model and risk tolerances.