Integrity due diligence on a bank in a CIS country
An international financial institution intended to enter into a business relationship with a bank in the Ukraine.
Indications of involvement in corrupt practices created cause for concern. CRW undertook a systematic analysis and enquiries with an extensive network of sources in the country and the broader region. The work uncovered that the bank had improved its governance in recent timets, but confirmed the existence of past episodes of involvement in money laundering and fraud, links to sanctioned subjects and opaque relations with PEPs.
Based on our risk assessment the client was able to take a risk-based decision and mitigate the risks identified.