MCaaS CORE's Enhanced Due Diligence Plus subscription offers a comprehensive overview of risk, further enabling MCaaS customers to assess the upward and downward risk exposure between organizations and their associations.
Let’s take a closer look at Associated Companies and their screening!
The Associated Companies section has been designed to identify entities directly owned by the main entity and displays all affiliated organizations based on ownership relationships. This encompasses entities downstream from the subject of due diligence, where the due diligence subject holds a partial or full ownership stake.
The aim of mapping Associated Companies is to provide customers with a snapshot of the larger company structure, enabling the identification and evaluation of potential risks related to regulatory compliance. This proactive risk-based approach empowers MCaaS customers to seek protections over their business relationships.
You will find results pertaining to these organizations on the following sections of MCaaS CORE:
Risk Indicator Section: Associated Companies
Risk information related to Associated Companies can be found within “Associated Companies Screening” under the Risk Indicator Section.
This section displays True Match or No Positive Hits Found screening results. If the indicator shows Under Review, please note that the Associated Companies linked to the organization are currently undergoing review by MCaaS.
Enhanced Due Diligence Plus Sidebar: Associated Companies
All affiliated organizations undergo the MCaaS due diligence process before publishing, making their screening results accessible directly within the Associated Ownership section.
By assessing Associated Companies, customers can establish a systematic approach to due diligence on main entities and their downward associations. Within the Associated Companies section, Country Risk, Location Screening, and Organization Screening results are prominently displayed. Users can access more detailed information on each Associated Company by clicking 'View Report' and subscribing to their preferred due diligence level (SDD/BDD, EDD, or EDD+). This systematic approach facilitates regular monitoring of counterparties and helps identify changes within associations that may pose risks to the business.
We encourage all customers to conduct Continuous Monitoring on all screened entities. This allows for adaptability to evolving circumstances and informed decision-making. Subscribing your counterparties to Periodic Review mandates MCaaS to conduct a comprehensive review of the entity and all its associations, contributing to the long-term sustainability of business relationships.