Diligence

Wealth-X Diligence provides in-depth intelligence on ultra high net worth (UHNW) individuals for organisations looking to meet their regulatory requirements and mitigate reputational and commercial risk.

Wealth-X helps you close the gaps in your compliance approach by providing a comprehensive assessment of the sources of your client’s wealth. Our expert research team will help you gain a full view on their asset holdings, from where they made their first million dollars up to the total value of their assets today.

Due diligence is a necessity for those who take the future of their business seriously. With Wealth-X, we got the complete compliance picture: a detailed background on each UHNW individual including sources of wealth and any reputation risk. This allows us to make sound business decisions when it comes to protecting our brand reputation.

Head of Wealth Management Compliance, Top 10 Private Bank

Enhance Your Compliance Assessment

With increasing regulation and trends toward greater transparency, understanding source of wealth is a cornerstone of due diligence. Even where it is not required by regulation, it is often carried out as good business practice. Companies should not only be concerned with non-compliance and regulatory penalties, but by the costs of reputational damage. The Wealth-X Diligence dossier combines wealth intelligence from Wealth-X’s bespoke intelligence dossier and Know Your Customer (KYC) solutions to provide you with enhanced and comprehensive reports on UHNW individuals. Each Wealth-X due diligence dossier is meticulously crafted by our global team of researchers. Key features of each report include:

  • A single view of UHNW individuals by combining wealth analysis with essential KYC checks.
  • An individual’s source of wealth, underpinned by Wealth-X’s proprietary valuation methodology.
  • Detailed information on PEP status, sanctions, significant litigation, and other adverse information such as any financial impropriety.
  • Known business and social relationships of PEPs

 

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Proactively Address Compliance Reputation and Business Risk

As a solution designed for KYC compliance, the Wealth-X Diligence dossier incorporates the elements of anti-money laundering (AML) and anti-bribery and corruption (ABC) checks to ensure that you meet your regulatory responsibilities and understand any risks that may present themselves when dealing with a given UHNW individual or their known associates.

At Genting Casinos UK I have been very impressed with the quality of the Due Diligence reports Wealth-X produces. The Wealth-X reports provide us with the insight we need to better understand and mitigate the AML risks presented by our customers and potential customers.  We have built a requirement for Wealth-X reports into our risk based approach and that assists Genting Casino UK with making the right decision in the ever increasing demands of the AML Compliance regulations.

Jon Duffy Director of Corporate Assurance & Regulatory Affairs Genting UK
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