Business Partner Screenings – also known as Third Party or Integrity Due Diligence (IDD) – is the careful examination of one’s own business partners.
The necessity to conduct business partner screenings arises primarily from the due diligence and supervisory duties of the company management as well as legal provisions such as the Money Laundering Act or the Supply Chain Act.
International legislations such as the Foreign Corrupt Practices Act (FCPA) or the UK Bribery Act are more specific and explicitly suggest performing business partner screenings as preventive measures to comply with such laws.
Incidentally, both the FCPA and the Bribery Act are extraterritorial laws, resulting in the necessity for business partner screenings for internationally operating companies.
SIGNUM Consulting recommends a risk-based approach for business partner screenings. Therefore, we offer various screening levels.
For more information, please contact us through this Link or download our product sheet.