Supplier Vetting

It's no secret to managers and executives of modern companies that some of the highest single losses of companies occur in cases of organized fraud involving employees and suppliers. It is thus very important to monitor procurement activities within the company and to conduct supplier vetting. You need to know who your suppliers are in order to reduce your risks and prevent fraud to the maximum possible extent. Company fraud incidents create bad reputation. Due diligence and a strict policy on corporate responsibility are very important issues. Management is responsible and will be held accountable when losses occur and their business practise will be scrutinized. Fraud prevention, fraud and financial investigations must take place in order to counter these losses.

It's a sad fact that in many companies criminal and unethical activities do occur regularly which consequently lead to substantial company losses. This may even be part of a sabotage strategy of competitors. Management needs to take pro-active steps against fraud, which included suppliers vetting. The Brillstein investigators are international experts on this field and will 

•  check the  background and the  associates of potential or current suppliers
• assess incorporation status, nature of business and size of the supplier, and any discrepancies with information supplied
• find out if the supplier is regulated by an appropriate authority
• find out who are the main individuals involved 
• check on possible conflicts of interest
• assess and interview other clients
• verify the success of previous contracts
• assess the financial performance of the supplier and his ability to fulfil the contract
• check upon any possible prior  or ongoing litigation or bankruptcy proceedings
• check upon any adverse publicity involving the company or its main individuals
• assess if there are any illegal or unethical activities or have been in the past

We will customize the investigation according to individual client requirements, e.g.

• size is the contract concerned
• full nature of supplier's business
• possible ties between supplier and the client's employees
• should the  suppliers be made aware of the vetting

Supplier vetting is an integral part of any crime prevention and corporate security concept.

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