Tips on Avoiding Toxicity in the modern business environment
Pavlo Verkhniatsky, Managing Partner at COSA
Pavlo is an expert in sophisticated integrity due diligence with an international component. He also leads research on country and political risks, conducts cross-border investigations and asset tracing for the benefit of global corporate players. Having experience of on-the-ground work with a focus on the FSU Pavlo provides COSA’s clients with in-depth understanding of behind-the-scenes particularities of business relations and country specifics.
Avoiding toxicity is crucial in today’s economic and geopolitical environment in case you want to build healthy long-term business relationships.
'You never know how toxic your counterparty can be until you make a thorough compliance check. To make due diligence a real trouble-prevention tool rather than a set of procedures follows such tips:
- No matter how good automated analytical tools you use are, apply manual search and analysis techniques too;
- Issues causing the strongest toxic effect are: sanctions-related transactions, corruption involvement, money laundering and terrorism financing indicators, modern slavery involvement, PEP ties and criminal connections;
- Consider country specifics of your counterparty’s location to avoid 'unpredictable' troubles;
- In case of high-risk counterparties conduct HUMINT [human intelligence] to either confirm or refute existing information, as well as to find out information that usually remains in the backstage;
- Stay ethical while conducting compliance checks.'
See more at Compliance Periscope