Case Study: Horse Stable
Local Check, Business Partner Check
Risk & Compliance Management
This story almost sounds too funny to be true. But this is exactly what we experience sometimes, when we check out our customers’ business partners on their behalf.
A German real estate company wanted to invest in an energy company in Serbia that builds hydroelectric power plants.
The total investment was 5 million Euros.
A business partner check revealed that the energy company was a dummy company. During the so-called “local check” on site we did not find any production site. What we found instead:
A horse stable!
Do you really know your business partners as well as you think?