Simplifying ‘Six Degrees of Separation’ for Third-Party Compliance Risk

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Presented by

Paul Westcott, Neil Isherwood

About this talk

As organisations engage with an increasing number of third parties, global business networks have become more complex and interconnected. Nowadays, a third party may simultaneously be a customer, supplier, alliance partner, and even competitor. Given that people within (or outside of) companies commit fraud, organisations need to be able to see the network effect and the interrelationships between people and companies. Despite this increase in complexity, Compliance and Risk leaders may find that it’s now easier to identify the “six degrees of separation” and connect the dots between their organisation’s third-party entities. Join the Dun & Bradstreet Third-Party Risk & Compliance practice’s Senior Product Director, Paul Westcott, and SME, Neil Isherwood, as they discuss how: •Identifying corporate linkage from a financial crime and compliance risk perspective has improved as a result of increasingly connected and robust data sets as well as enhanced processing power. •The ability to identify relationships and beneficial ownership now goes beyond identifying corporate linkage as entity resolution and identification of connections can go down to the level of individual people within a company and a view of their network of relationships. •Using entity network resolution for third parties, which includes companies and people, can help reduce false positives, resolve conflicts of interest, and increase efficiency and accuracy in the enhanced due diligence process. Understanding who you do business with isn't just a regulatory requirement, it's an essential part of good corporate governance. Join us to learn how you can enhance your ability to resolve corporate and people entities and identify networks. Learn how to protect your brand while minimising potential regulatory fines, fraud, and supply chain disruption.
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