September 20th, 2017
Due diligence might have been a little weak; $500 million is missingA group of global banks is being criticized for allegedly failing to do adequate due diligence into Mozambican maritime projects for which the banks helped arrange $2 billion in loans, and from which $500 million is now allegedly missing. Those are conclusions of an independent audit prepared for the nation’s chief prosecutor, a parliamentary report, […]
September 7th, 2017
More companies do post-hire “continuous screening” of employeesWhile 99% of businesses perform background checks on prospective employees before hiring them, just under 25% continue to screen them once they’re in the job. That is the finding of a recent survey of executives from 278 companies with at least 100 employees, which was conducted by a “risk-monitoring” firm called Endera. Yet human-resource experts […]
August 30th, 2017
How high in an organization should deals be vetted?Even Goldman Sachs, which is known for buttoned-up due diligence procedures, can fail to put senior-enough eyes on a risky deal. That possibility arose in the firm’s dealings with the especially corrupt Nicolas Maduro regime in Venezuela, which recently floated bonds to finance its state oil company. Goldman purchased $2.8 billion worth, paying 31 cents […]
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