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Conducting adequate due diligence is imperative to the future success - and longevity - of an acquiring company. Therefore, potential buyers need to take their time to be as thorough as possible in ensuring a sweeping and competent investigation.There are numerous books of extreme length about how to conduct a proper due diligence inspection. Since you’re asking for a list, I’m concerned about your risk exposure, because a competent examination requires much more than simply running through a list. Therefore, I think it’s going to be most helpful by beginning with a brief explanation of the investigation’s purpose, as well as the risks you run with an incomplete due diligence inspection. For more focused help, try connecting with experienced M&A attorneys at LawTrades.PurposeThe central purpose of due diligence in connection with an acquisition is valuation and risk assessment. The three primary areas that are assessed for risk and valuation are legal, financial and operational.Risks of Inadequate Due DiligenceAcquiring companies often find out too late that their investigation left a lot of rocks unturned. In my experience, the results of a weak investigation generally fall into the following categories: (1) unanticipated costly integration, and (2) inheriting considerable legal liabilities that weren’t uncovered. The result is paying too much for the target, which doesn’t quite have the value you believed it had.Components of Adequate Due DiligenceThe two primary components of a sound due diligence investigation are (1) document review, and (2) field work.You certainly want to ensure that you retrieve all the documents you need in order to accurately assess the target’s value. However, it’s going to take much more than possessing boxes of seemingly endless files in order to be able to sufficiently assess the real value and risk exposure of the target business. You need to have superior organization and a robust team - including an experienced legal roster. It’s really impossible to overstate this last point.Field WorkI’d recommend that you begin your investigation by probing the backgrounds and reputations of key management, as well as the target’s general reputation in the industry with vendors, creditors and customers, and among staff.Document Review and AnalysisThis entails making certain that you have all the documents you need for a thorough assessment of risk and valuation; and further, that the files are scrutinized for errors, omissions, and any other impairments. A meticulous examination of the records should also generate many questions that you follow up on both in writing and as part of the interviewing process.Key Constituents of a Strong Due Diligence TeamA robust list of questions is as important as a comprehensive list of documents. Again, make sure you assemble a robust due diligence team and take your time to thoroughly complete the investigation. You can find a reliable, though basic, list of questions here. Your legal team will be able to provide you with a more substantial list of items and questions, but this will give you a sense of what’s partially entailed.Your team should consist of the following experts:Business and Industry ProfessionalsMarketing ProfessionalsHuman ResourcesFinance & AccountingCompliance/Risk Management/InsuranceTax ProfessionalsLegalHere’s a pretty decent infographic from Bain & Co. that will help you visualize the overall process.The following graph from the Harvard Business Review is an excellent depiction of how to incorporate best practices into your due diligence process:Sample ListSince it’s ill-advised to contemplate a due diligence investigation as a do-it-yourself (DIY) project, I’m offering this list just as a small sampling of the types of records that are commonly requested in this effort. Please do not use this or any other information presented here as a substitute for legal advice; it’s not. Again, I urge you to seek an experienced attorney for the legal guidance you’ll need. You can also take a look at LawTrades for any additional information about acquisitions and due diligence you require.Here’s the menu sample:Organizational Records (e.g., incorporation documents, structural/governance documents, jurisdictional qualifications/standing & status)Financial (e.g., liens/encumbrances, loans, notes, investments/holdings, real estate records such as deeds, leases, zoning variances/compliance, etc.)Regulatory Compliance Records (everything including anti-money laundering, foreign account tax compliance, privacy, supply chain, labor, OSHA, SEC, anti-corruption and bribery-notably the FCPA (Foreign Corrupt Practices Act))Employment Records (e.g., EEO and health & safety compliance, benefits, subcontractor agreements, confidentiality agreements, non competes, I-9 compliance)Insurance Policies (e.g., D&O, E&O policies)Legal (including past, existing and potential litigation - both by and against the company)Business (e.g., marketing strategies and procedures, customer lists, sales & distribution, purchase & sales orders, product & vendor contracts, production processes, R&D, operational controls/best practices, market position & SWOT assessment (strengths/weaknesses/opportunities/threats) as part of the market analysis)Intellectual Property (e.g., licenses, copyrights, registrations, filings - past, pending or contemplated)Management (e.g., compensation packages, employment contracts, benefits, management/shareholder agreements, stock options)The core elements of your due diligence data trail will include legal opinions, memoranda and other written records. In order to competently execute the examination, your team will use manuals, checklists, notes, questionnaires and guidelines. At the risk of repeating myself, this work is usually spearheaded by a qualified legal team who will have available all the tools of the trade to assist you and your company through the investigation.Final ThoughtsDue diligence can be disruptive to both the buyer and target company. It’s certainly time consuming, often costly, and always a monumental pain. At the same time, it’s about one of the most important things you can and really need to do properly.Assembling the best team you can and an abundance of self-discipline are priorities. It’s both an exhaustive and exhausting process that demands complete attention and laser focus on the ultimate goal: to ensure that you’re truly getting what you paid for.One other note I’d make is that part of your list should include a separate process devoted to cultural integration. I’ve found that the tendency during active acquisition is to give much lip service to those sensitivities, but the follow up often misses the mark. There’s a lot you can do to promote an easier transition for the collective staffs of both companies - requiring other lists and deeper discussion. Just want to make sure that this part isn’t overlooked since it’s probably one of the best things you can do to facilitate integration - and ultimately gain an even sharper competitive advantage (or at least not lose ground).I hope this helps! Feel free to check out LawTrades for answers to any additional questions you have about due diligence and acquisitions.

Some of the best ideas and products come from strong business partnerships. Partnering with a company your size (or bigger) can also supercharge your growth efforts.But as with all relationships, it’s important to do more than scratch the surface when vetting potential partners—and putting systems in place to guide the relationship as it develops is important too.Size up the competitionWho else is doing what you're planning to do? How well do they do it? By studying the competitionyou can learn from others' mistakes - or even what their customers appreciate..Define your target audienceAppealing to everyone appeals to no one. You need to focus on your target audience and style everything from your website to your marketing campaigns around them. Make sure you are targeting the right people by sending out questionnaires, speaking to your customers through social media and holding focus groups.Your web presenceDid you know that 50% of small business don't have a website? Most want one, but they either think they can't afford one or don't have the skills to put it together themselves.FundingIn an ideal world you would have enough money to self-fund the launch of your new business. But, for the majority, that's not an option. Instead you can ask friends or family if they may be willing to help or you can look into getting a bank loan or seek out an investor.Examine Personal GoalsIn a business partnership, you have to be aligned on your vision of the company and/or come to an alignment. Likely the latter. Your business partner’s personal goals also have to match (or at the very least not contradict) yours.While starting the business, an entrepreneur has many options on the choice of business entity that he should start with and larger the number of options larger the chances of confusion. In India, you can register Company, Limited Liability Partnership, One Person Company, or Partnership firm for purpose of carrying your business. This decision of selecting the right entity is very crucial and depends upon certain factors like liability, nature of business, number of owners, scale of business, taxation, estimated tenure of the business, future plans, closing etc.A brief of entities as mentioned aforesaid is given below:Company1. Company is the oldest & renowned business Structure in India.2. There are 2 types of companyPrivate Limited Company: It is a closely held company with minimum requirement of at least 2 shareholders and maximum 200 shareholders, 2 Directors, and minimum paid up share capital of Rs 1,00,000.Public Limited Company: A which is not a Private Limited Company in known as Public company. There should be at least 3 Directors and 7 shareholders with a minimum paid-up capital of Rs 5,00,000 . There is no limitation on the maximum number of shares and therefore such company can offer its shares to the public at large.3. The entire capital of the company is divided into small units known as shares. Each member hold shares in the company are called as shareholders and the ownership is defined by number of shares in the total capital held by any shareholder4. A company is run by Board of Directors, consisting of directors, which are appointed by the shareholders. Shareholders can themselves become director or they can also appoint any other individual as shareholder. Directors take all the decision related to company5. Company is treated as an artificial person so that all assets and liabilities are owned by it and not its shareholders.6. The liability of the shareholders is only limited to the capital to be paid on their shares7. Registrationa. Registering authority is Registrar of Companiesb. Minimum registration cost for private company is Rs 5200 and for public , it is Rs 24600c. Time to Register : 15-20 working dayOne Person Company1. The concept of One Person Company (OPC) has been introduced in India in 2014. A company which has only one shareholder is called as One Person Company.2. This is a new concept which has come up by the enactment of Companies Act, 2013.3. This form of business entity is a Private Limited (OPC) in nature.4. The shareholder must be the Citizen of India and resident in India.5. OPC shall have one shareholder, director and minimum paid capital of Rs 1,00,0006. The shareholder of the OPC has to nominate a nominee who will the shareholder in case of death of the main shareholder or he is unable to enter into any contract.7. As compared to normal company , OPC have lesser compliances8. The remaining features of a OPC are similar to the company9. Registrationa. Registering authority is Registrar of Companiesb. Minimum registration cost is Rs 4800c. Time to Register : 15-20 working dayLimited Liability Partnership (LLP)1. After company, the world's most recognized form of business i.e. Limited Liability Partnership.2. A Limited Liability Partnership, popularly known as LLP is a hybrid form of company and partnership. It takes in the advantages of both but leaves disadvantages out.3. A LLP should have minimum 2 partners and there is no minimum requirement of capital. So you can start with Rs 100 also.4. In a LLP one partner is not responsible or liable for another partner's misconduct or negligence, this is an important difference from that of an unlimited partnership.5. Registrationa. Registering authority is Registrar of LLP​b. Minimum registration cost is Rs 1750c. Time to Register : 10-15 working daysPartnership Firm1. The most popular form of business structure is in India is Partnership firm. It is governed by Partnership Act, 1932. Partnership is not treated as a legal entity in comparison to company or LLP.2. A partnership should have minimum 2 partners and there is no prescribed requirement for minimum capital. Maximum number of partners can be 50.3. It can be formed easily in one day by just executing Partnership Deed either orally or written. But it is always advisable for Partnership deed to be written and that too on Stamp Paper.Registration of Partnership though not mandatory but it is always advisable since non-registration brings some disadvantages4. No compliances are prescribed for Partnership5. Registration (not mandatory)​a. Registering authority is Registrar of Firm b. Registration cost differs from state to state c. Time to register- 2-3 working daysProprietor1. The easiest way to do business.2. Need only per person to start3. No need of any registration but in some states , you need to procure a trade licence4. It is not treated as legal entity so all assets and liabilities rest on the owner5. The owner is the boss, he manages and decides everything.6. The day owner dies, the firm also dies with him.Although every form of business offers has its own pros and cons but any decision should be made in the light of not only current plan but also keeping in view the future. Please also take note starting from partnership, you always have the option to convert into a higher form.-Information given by -ANKIT SINGH (Ankit Singhi is Partner, Corporate Professionals, Advisors & Advocates)

1. ELIGIBILITY CRITERIA FOR EMPANELMENT OF COLLECTION/ RECOVERY AGENTS (CRA)• Management Consulting Firms, Accounting Firms, Firms offering Asset Collection Management Services and NBFCs having expertise in Asset Collection Management services would be eligible. The firms working as Collection Agency with Public Sector Banks would be given preference.• CRA employees shall be graduates from any reputed university in India / Abroad.Preference will be given to the firms having Accounting / Engineering / Law Professionals. Besides, Collection Agency shall have “DIRECT RECOVERY AGENT CERTIFICATE” issued by the concerned agency (IIBF --INDIAN INSTITUTE OF BANKING & FINANCE) as per the guidelines of RBI (IIBF).• CRA should be registered with State’s Shops and establishment Act 1948 or other mandatory registrations which are statutory in nature as per law.• The registration of the CRA shall be at least three years old.• CRA shall have experience of at least three years of experience in handling the Collection/ resolution of NPA accounts with Public Sector Bank(s).• CRA shall have completed at least five assignments successfully with Public Sector Bank(s) earlier.• The firm of CRA shall have PAN number.• CRA shall have a thorough knowledge of the extant RBI guidelines and also instructions/ circulars issued by RBI/ IIBF/ IBA time to time on Collection Agency.• CRA having complaints before Police and also involved in court cases especially in the matters, which are in deviation to the extant RBI guidelines on “Collection Agency” and scope of work indicated by the Bank need not apply.• CRA blacklisted by any Bank need not apply for empanelment.• The Statutory and regulatory guidelines and changes in them issued by agencies concerned on Collection/ Recovery Agency from time to time should be adhered.__________________________________2. ELIGIBILITY CRITERIA FOR EMPANELMENT OF PRIVATE DETECTIVE AGENCY (PDA) AND SKIP TRACING AGENCY (STA)• Management Consulting Firms, Firms offering Private Detective Agency (PDA), Skip Tracing Agency Services and NBFCs having expertise in PDA and STA services would be eligible. The firms working as PDA and STA with Public Sector Banks would be given preference.• PDA and STA would be required to ascertain details of net worth, occupation, source of income, details of properties of the customers in their name/ guarantors and other assets as on date along with their current value, which may inter alia include- Immovable property in their names, residential house/ other buildings, if any, in their names, details of bank balances, deposits, investments etc. in their names and any other assets held in their name.• PDA and STA should be registered with Maharashtra Shops and establishment Act 1948 or other mandatory registrations which are statutory in nature as per law.• PDA and STA having complaints before Police and also involved in court cases especially in the matters, which are in deviation to the extant RBI guidelines on and scope of work indicated by the Bank need not apply.• PDA and STA blacklisted by any Bank need not apply for empanelment.• The registration of the PDA and STA shall be at least three years old.• PDA and STA shall have experience of at least three years of experience in handling the assignments with Public Sector Bank(s).• PDA and STA shall have completed at least five assignments successfully with Public Sector Bank(s) earlier.• The firms of PDA and STA shall have a PAN number.• Employees of PDA and STA shall be graduates from any reputed university in India/ Abroad.• PDA and STA shall have a thorough knowledge of the extant RBI guidelines and also instructions/ circulars issued by RBI/ IIBF/ IBA.• The Statutory and regulatory guidelines issued by agencies concerned on PDA and STA from time to time should be adhered.__________________________________3. ELIGIBILITY CRITERIA FOR EMPANELMENT OF RCU/ FI/ DVA (Vendors)• Partnership Firm or a Limited Company, Management Consulting Firms, Firms offering RCU/ FI/ DVA and NBFCs having expertise in RCU/ FI/ DVA, owned by predominantly persons who are Indian Residents, would be eligible.• Vendors should be registered with Maharashtra Shops and establishment Act 1948 or other mandatory registrations with statutory authority as per law.• Vendors working as RCU/ FI/ DVA with Public Sector Banks/ Other Banks.• The Vendors should not been found guilty of misconduct in a professional capacity. The Vendors blacklisted by any Bank need not apply for empanelment.• The vendors having complaints before Police and also involved in court cases especially in the matters, which are in deviation to the extant RBI guidelines on “RCU/ FI/ DVA” and scope of work indicated by the Bank need not apply.• The employees working with Vendors should be HSC or Graduate in any discipline, experience of two years with reasonable analytical ability.• The Vendors should have at least two years of experience in handling RCU/ FI/ DVA. The registration of the Vendors shall be at least two years old.• The Vendors need to submit at least two reference letters and the Bank needs to verify the quality of services provided by the vendor with the referees before empanelling them. The referees shall be from Branch managers of banks/ NBFCs where previously the Vendor had done Verifications. The reference letter shall be on the letterhead of the bank or NBFC which providing the reference.• The Vendors should have infrastructure such as fax, computers, mail connection, scanner, etc.• The Office should be well connected to Railway Station, Bus Station and City Centre.• The firm of RCU/ FI/ DVA shall have PAN number.• The Statutory and regulatory guidelines issued by agencies concerned on RCU/FI/DVA from time to time should be adhered.FIELD INVESTIGATION AGENCIES (FI), RISK CONTAINMENT UNIT (RCU), DOCUMENT VERIFICATION AGENCY (DVA), COLLECTION/ RECOVERY AGENCY (RCA), PRIVATE DETECTIVE AGENCY (PDA), SKIP TRACING AGENCY (STA) who fulfill the above eligibility criteria only shall submit the application)_________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________SKIP TRACING JOBS AND TRAININGSkip tracing is an industry term used to describe the process of locating a fugitive or a missing person that can’t be found at their place of residence or usual hangouts. “Skip” refers to the person being searched for (derived from the term “to skip town”) and “tracing” meaning the act of locating the skip.The act of skip tracing is most often used by bail bondsmen, bounty hunters, repossession agents, private investigators, debt collectors, and even journalists. Skip tracing, however, may be performed by a professional — called a skip tracer — who is an expert in this process.HOW IS SKIP TRACING PERFORMED?Skip tracing is performed by collecting information on the individual in question. All information recovered by the skip tracer is analyzed, verified, and used to determine the location of the individual. Skip tracing may involve gathering and analyzing a great deal of information or very little information, both of which have their own set of advantages and disadvantages.Although most skip tracers now head to the Internet to gather information on the whereabouts of individuals, many also employ social engineering, the art of calling on individuals who may have information about the subject.It is the job of the skip tracer to use any number of resources and databases to collect the required information. As such, skip tracing often involves accessing the following:o Phone number databaseso Credit reportso Credit card applicationso Job applicationso Criminal background checkso Loan applicationso Utility billso Public tax informationo Public records databaseso Courthouse recordso Department store loyalty cardso Air travel recordso Driver’s license/vehicle registration departmentsSKIP TRACING AND BOUNTY HUNTINGThe term skip tracing is most often used in the field of bail bonds and bounty hunting, and many bounty hunters and bail bondsmen use the services of skip tracers to help locate individuals who have failed to meet the conditions of their bond. Because of this, skip tracing and bounty hunting are often mistakenly used synonymously.Skip tracing is a unique process, however, and, although it is often a function of bounty hunting, the two actions are distinctly different. In short, bounty hunters can act as skip tracers but skip tracers cannot serve as bounty hunters.Both bail bondsmen and bounty hunters use skip tracing to locate an individual who has skipped bail. Because the defendant who skips bail does not want to be found for fear of being sent to prison (referred to as an intentional skip, versus an unintentional skip, which involves a person who isn’t trying to avoid detection), the job of skip tracing in the bail bonds field can be quite challenging.Skip tracing in bounty hunting involves assessing information on the subject and uncovering facts to help in the apprehension of the fugitive. Using both traditional records and online tools and databases, all the while abiding by federal, state and local laws, such as trespass laws and privacy laws, skip tracers collect evidence and compose reports that are then used by bounty hunters when attempting an apprehension of the fugitive.Skip tracing is not unlike detective work, as it involves scouring databases, understanding where and how to search for information, and following up on leads. Skip tracing professionals conduct interviews, engage in surveillance activities, and assess information about their subject.HOW TO BECOME A SKIP TRACER: JOBS AND TRAININGAlthough there are no formal training requirements for performing skip tracing, professionals who want to learn how to become a skip tracer should make it a priority to learn about state and federal laws regarding everything from surveillance laws to privacy laws. Individuals interested in jobs in skip tracing may also achieve more career opportunities by specializing in a specific area of skip tracing, such as bounty hunting or debt collecting.Many skip tracers receive their training on the job, working for bail bond agencies, private investigation firms, debt collection agencies, etc. A good working knowledge of computer systems and databases is required to achieve success in this profession, as is the ability to communicate well with people.Formal training for skip tracer jobs can be attained through seminars and workshops, which are often offered through professional associations, such as the National Association of Fugitive Recovery Agents and the American Recovery Association Inc. Online seminars in skip tracing are also a popular option for skip tracers and other professionals, such as bounty hunters, debt collectors, and private investigators, who want to learn about the latest online search tools and databases.OPPORTUNITIES FOR SKIP TRACERSA number of industries hire skip tracers as employees, including debt collection agencies, investigative firms, and even law enforcement agencies. However, perhaps just as many skip tracers work as independent contractors, with bounty hunters, bail bondsmen and private investigators using their services as needed.__________________FRAUD PREVENTION AND CONTROLo PROCESS OF FRAUD SAMPLING: ----APPLICATION FRAUD: - An Application for a credit card or loan using details intended to mislead the issuer, or a card or loan obtained by using false information, fake identity over application form can be said to be an application fraud.o To check the credibility of a person, contact point verification, income document verifications & KYC document verifications are the basic methods used.o An applicant may use an altered data in his income documents so as to improve the chances of approval of his application. Consequently, after the approval, the member generally fails to make payments.o The documents that are presented by the applicant at the time of applying for the card or loan may be any of the following: -INCOME DOCS.1. Income Tax Return (ITR) and Financial2. Form 163. Salary Slip / Salary Certificate / Appointment letter4. Credit card Statement of any other Bank he is a card member of Other than these documents.5. LIC policy documentBANK STATEMENTo KYC Docso ID Proof (Passport, DL, Voter ID, PAN, Ration Card etc.)o Address Proof (Passport, DL, Voter ID, PAN, Ration Card, Electricity Bill, Telephone Bill, Water Bill, Rent Agreement, Lease Deed, GPA, Partnership Deed etc.o It is an easily understood fact that alterations into the data of any of these documents or production of fake documents hence improving the profile of the applicant is not a very difficult task to be performed by intentional frauds.o A Fraud can make one or multiple applications to one or several card-issuing banks using false data and variations between applications in order to make some of them pass the bank’s screening process.o Almost all Card or Loan issuing Companies / Banks have contracts with vendors for sourcing their card applications. Since this is an outsourced activity, the types of frauds that we stated earlier / above are often committed by the employees of the vendors as well in order to improve their total number of applications sourced and consequently to meet their targets and get good commissions. Hence Issuers (Banks) often come across cases of application pumping, applications of non-existing persons or addresses.o We hence make attempts in several ways to help strengthen the banks improve the detection of fraudulent applications. Our first and foremost step towards this is to detect fraudulent/ suspicious applications and minimize fraud application losses to the Card Issuer banks / Companies. We use our personal skills/ experience and broad-based approaches to achieve effectiveness in fraud Checks. We pick samples from several applications of the same type of information/ documents and through our discreet /Non-discreet methods of verifications and investigations called fraud samplings to try to detect the fraud applications/ individuals / Sourcing agentso This Process is known as Fraud Sampling.SAMPLE PICK UP: -Executives of RCU or FCU on a daily basis check 100% of the applications received for any products from the banks and select some percentage of the lot, depending over the type of document received for sampling. All the applications that are checked are stamped “F C U Checked” and the ones that are selected for sampling are stamped as “Fraud Sample Picked”. No application without a “fraud sample checked” stamp over it can be sent for further processing in the mailroom of the bank. Besides the executives who review the applications put a chit over the application mentioning the reason sample picked.This chit helps the case to be verified and an action plan to be prepared over it once it is sent to Agency. The premise(s) from where the applications are selected/checked is defined by the bank.__________________Mystery Shopping is a process in which a person visits a retail store, restaurant, bank branch or any such location with the objective of measuring the quality of customer experience.Many companies define detailed processes and parameters to ensure that customers will have a good experience in their sales locations. Some examples are:How customers will be greetedo What is the maximum acceptable waiting timeo What should be the temperature of the facilityo How many products should be on display etc.To ensure that these processes are followed, these companies hire Mystery Shopping Companies to conduct regular audits on their locations.The mystery shopping companies (also called Mystery Shopping Agencies) find people who match the target customer profile, provide them a questionnaire for recording their experience, and provide some training on how to measure various parameters. This person is called a Mystery Shopper. These mystery shoppers then visit the location pretending to be a customer and make careful note of things they have been asked to measure. The data is reported to the mystery shopping company, who compiles and analyzes data gathered from different locations to help their clients measure and improve their customer experience.Mystery shoppers are usually freelancers or people who do this on the side and are paid a fee to conduct each mystery audit. If the audit involves purchasing or consuming anything - the mystery shoppers are usually provided a full or partial reimbursement of the money they spend as well._______________________- Initiating Seeding and Mystery Shopping activities.- Conducting various Agency audits including Collection Agency, FI Agency, RCU Agency, etc.- Monitoring the operations of the staff and recommending corrections for improvement.- Valuation of the fraud and assisting in the recovery.- The audit process includes Merchant Visits.- Receipt verification and data analysis from the MIS received.- Report preparation and retail client visits.___________________VERIFICATION OF APPLICATIONS SUBMITTED FOR CONSUMER BANK –ASSETS FOR IDENTIFYING AND MITIGATING FRAUDS PRIOR TO DISBURSEMENT.o Coordination and Monitoring of Verification agency for sampling activities done by the Agencyo Co-ordination with Credit Managers of various products for running daily operations smoothly.o Audit of the collection agencyo Any other activity assigned pertaining to RCU of Consumer Bank - Assetso MIS preparation and co-ordination with Head Officeo Supervising Ahmedabad and Rajkot RCU-RA activitiesTHE MEASURABLE WILL BE –o Control application Frauds by ensuring sampling efficiency at defined sampling percentageso Ensure optimum fraud hit rates with a sharp focus on document and profile related frauds.o Frauds prevented by sampling/screening processo Recovery cross-checks and agency controlso Quality of investigation and root cause analysiso Maintenance of TAT__________________________THE ROLE OF RISK CONTAINMENT UNIT (RCU) –CONSUMER BANKING AS A DEPARTMENT IS BROADLY CATEGORIZED INTO THE FOLLOWING:o Data Intelligence Team also known as Control team send alerts/ reports related to breach of bank defined limits/ suspicious trxn/ regulatory violations etco Pre A/C Opening Check / Verification on a sample basiso Onsite Process Support Visits for ensuring adherence to process.o Analytics for monitoring suspect transactionso Offsite monitoring via Compliance Certificate to confirm compliance to Regulatory items/ Processes/ Systems/ Controls by RL Branches.o Loss Data Management – Unusual Evento Case Management for Incidentso Investigation & Root Cause Analysis of fraud/dispute caseso Third-Party Product Analytics to ensure that the process of sale and product sold are right and suit the customer’s profile.o Analysis of Direct Banking Fraud Trends & Investigation/Action to be taken for limiting the risks.o Collection Receipt / Settlement Cases Calling on a random sampling basis to customers in order to confirm the genuineness of the receipts provided in records.o Agency Audit is conducted to check process adherence._____________________o Develop and sustain a system for Fraud identification, monitoring, investigating, reporting in order to minimize fraud losses and ensure timely recovery of fraud-related claims.o 100% screening & Sampling of Mortgage application based on scientific triggers.o Conducting end to end fraud document & profile investigation to reach out to fraud perpetratoro Weeding out negative elements (application /DSEs/companies) from the systemo Handling a team samplers for various risk control activitieso Cross-checking of FI reports & sharingo Cross-checking the authenticity & quality of RCU agency reports and vendor managemento DMA & DME pre empanelment market checks.o Continuous feedback to the policy team for updating the policy.o Audit & training of all the associated agencies viz., Direct Marketing Associates, Connectors, Collection agencies, Courier agencies, etc and report sharing with Business teams to align the process & system at our outsourced channels_____________________________BANK STATEMENT VALIDATION AND VERIFICATION WITH CONCERNED BANKo Criminal Records Checko Financial Competency Checko Financial Documents Checko Stability Checko Background Verification Checko Passport Checko All other Documents Authentication_________________________JOB ROLEo Verification of applications submitted for Home Loan / LAP Loan for identifying and mitigating frauds prior to disbursemento Coordination and Monitoring of Verification agency for sampling activities done by the Agencyo Co-ordination with Credit Managers of various products for running daily operations smoothlyo Audit of the collection agencyo Any other activity assigned pertaining to RCUo MIS preparation and co-ordination with Head Officeo Supervising RCU-RA activitiesTHE MEASURABLE WILL BEo Control application Frauds by ensuring sampling efficiency at defined sampling percentageso Ensure optimum fraud hit rates with a sharp focus on document and profile related fraudso Frauds prevented by sampling/screening processo Recovery cross-checks and agency controlso Quality of investigation and root cause analysiso Maintenance of TA__________________________BUSINESS VERTICALS: FRAUD & RISK CONTROLFRAUD & RISK CONTROL UNIT (FRC)ACTIVITIES CONDUCTED UNDER PFRC UNIT ARE AS BELOWEMPLOYEE BACKGROUND CHECKI. ADDRESS CHECKWe visit the stated address and verify whether the candidate is staying there. Details are confirmed through the neighbors and contacted person of the stated addressII. EDUCATION CHECKWe verify the same through direct contact with the authorized person/s in the student records department of the relevant educational institutionsIII. EMPLOYMENT CHECKWe check the duration of work, Designation, Salary, Reason of Exit, and any breach of contract been done by the candidate. We verify this information form HR unit/ reporting authority of the particular Company where candidate was employed previouslyIV. REFERENCE CHECKWe contact with the references provided and check the genuinely/ Integrity/ social background of the candidateV. CRIMINAL BACKGROUND CHECKWe verify the presence or absence of any criminal records through the police station whose jurisdiction the stated address of the candidate comes underVI. GLOBAL DATABASE CHECKWe identify any sanctions, debarments, disciplinary records and compliance violations (India / Global) through Data-BaseVII. DRUG TESTWe visit client premises to collect the required samples and check for the presence of the specified drugs. The findings are corroborated with a report from the laboratory________________________________RCU (RISK CONTAINMENT UNIT - RCU) ServicesI. SCREENING & SAMPLING PROCESSThis is Pre – Sanction activity done for Various Retail loan products and in this we do screening of 100% files logged in, and look for any subspecies documents/ profile. We collect the samples of those documents up to the prescribed percentage of logged-in files for Verification and detailed report with findings is submitted in agreed Turnaround timeII. DOCUMENT VERIFICATIONWe verify the authenticity of KYC/ Income and other documents with the issuing authorities which could be the registrar, the hospital, Passport office, and other concerned authorities and highlight any mismatch or discrepancy detected (during verification) between the details mentioned on the document and that found in the authority_________________________SEEDING & MYSTERY SHOPPINGSEEDING & MYSTERY SHOPPING IS AN ACTIVITY CONDUCTED TO CHECKo Customer identification process followed by respective Units / Associateso Apparatus, equipment, and infrastructure employed for conducting Activitieso Sacrosanctity of services and approach, the process being conducted by Units / AssociatesDEALER STOCKYARD AUDITDEALER STOCKYARD AUDIT IS AN ACTIVITY CONDUCTED TO CHECKo To identify or Analyze the Utilization of Funding done by Bank’s / Financial Institute to Dealer’s for their working Capitalo Analysis & Tracking of physical stock available at the stockyard, stock in transit and sold Stocko Re-finance for new additional stockINVESTIGATIONINVESTIGATION IS A DESK CHECK & FIELD CHECK CONDUCTED TO FIND OUTo The correctness of Documents or Information Provided by any Applicanto Checking of his background & Involvement in political/ illegal activityo Cross-checking his criminal backgroundo Checking of relationship with business associates of Customero Checking of his Lifestyle with connection to his monthly earningo Previous Employer Feedback checking on his integrity