Third-Party Due Diligence: Uncovering Hidden Risks in Potential Partnerships
Overview
In the complex world of business partnerships, ensuring your potential partners don’t harbour hidden risks is crucial. Our case study showcases how Neotas used advanced Open-Source Intelligence (OSINT) to uncover vital information about a potential business partner, helping our client avoid a high-risk association that could have jeopardised their reputation and finances.
The Challenge
A client approached Neotas with a pressing concern: they needed to evaluate a potential business partner integral to their supply chain. With only basic contact details—an email address and telephone number—they sought our expertise to uncover any hidden risks that could pose a threat to their operations.
Our Approach
Using our cutting-edge OSINT techniques, we conducted an in-depth investigation that revealed:
- Detailed Profile: Comprehensive identification of the subject’s addresses, date of birth, social profiles, and employment history.
- Adverse Media: We discovered that the subject had been linked to negative media as a former CEO involved in a scandal related to hazardous waste disposal disguised as recycling.
The Outcome
Our investigation exposed critical risks that traditional due diligence methods failed to detect. Armed with these insights, our client made an informed decision, avoiding a partnership that could have resulted in significant reputational and financial damage. The implicated company later went into administration, highlighting the importance of ethical standards in business.
Discover the Full Story
To see how our advanced OSINT techniques can protect your business, download the full case study. Gain insights into our methodology, the risks uncovered, and how we safeguarded our client’s interests.
Download the case study
How can Neotas TPRM solutions help?
Neotas offers an innovative solution to businesses grappling with Third-Party Risk Management (TPRM). In an era of increasing outsourcing, TPRM has become pivotal, and Neotas recognises this need. Through our enhanced due diligence platform, businesses can efficiently track and evaluate vendors and contractors, ensuring adherence to security protocols in a cost-effective manner.
The Neotas platform automates the vendor onboarding process, streamlining the addition of new vendors with remarkable ease and speed.
Moreover, Neotas provides a customisable dashboard, enabling businesses to proactively identify and address emerging risks. By consolidating vital vendor information, Neotas facilitates the seamless integration of risk management into existing Customer Relationship Management (CRM) and Supply Chain Management (SCM) systems, ultimately helping businesses maximise profits while minimising risk exposure.
If you’re curious about whether our third-party risk management solutions and services align with your organisation, don’t hesitate to schedule a call. We’re here to help you make informed decisions tailored to your needs.
Ensure your business decisions are informed and risk-free with Neotas.
Third Party Risk Management (TPRM) Solutions:
- Enhanced Due Diligence
- Management Due Diligence
- Customer Due Diligence
- Simplified Due Diligence
- Third Party Risk Management
- Vendor Due Diligence
- Open Source Intelligence (OSINT)
- Introducing the Neotas Enhanced Due Diligence Platform
Third Party Risk Management (TPRM) Case Studies:
- Third Party Risk Management (TPRM) Using OSINT
- Open-source Intelligence For Supply Chain – OSINT
- ESG Risk Management Framework with Neotas’ OSINT Integration
- Open Source Intelligence In AML Compliance | Case Study
- Identifying Difficult And Dangerous Senior Managers
- ESG Risk Investigation Uncovers Supply Chain Risks
- Financial Crime Compliance & Risk Management Trends
- Network Analysis Reveals International Links In Credit Risk Case
- Network Analysis and Due Diligence – Terrorist Financing
- Using OSINT For Sources Of Wealth Checks
- ESG Risks Uncovered In Investigation For Global Private …
- PEP Screening: Undisclosed Political Links Uncovered For European Organisation
- Risk-Based Approach (RBA) to AML & KYC risk management
- Anti-Money Laundering (AML)
- Supply Chain Risk Management
- Due Diligence Explained: Types, Checklist, Process, Reports
