In the dynamic global landscape, especially companies operating internationally, face growing challenges from stringent official regulations, such as embargo lists.
Engaging in trade with companies and individuals on the embargo list is prohibited or severely restricted. If a company knowingly or unknowingly violates the provisions of the sanctions list by doing business with entities on the list, the financial consequences can be significant. In the worst case, companies found in violation may be placed on a sanction list, compelling other businesses to cease their transactions with the implicated company.
Companies should invest in a risk management process that enables the background check of partners to be conducted with certainty and reliability.
We can assist with this challenge by building a background check process suitable for your needs for the selection of partners. In this process, the most important matters to be investigated and the different levels for conducting inspections are defined for you. In this way, the requirements from different parties (KYC, know your customer; KYE, know your employees; KYS, know your suppliers) regarding knowing your partners can be met. We always tailor our solutions according to your needs.
Why PwC?
We have extensive experience in risk management related to the selection of partners, and with the help of our international network, we ensure comprehensive consideration in selecting partners, both within local and global markets. We also utilise the same practices and operating models in the selection of our own business partners.
