THE BENEFITS OF IMPLEMENTING INVESTIGATIVE DUE DILIGENCE RESEARCH

Most organizations that will be making strategic and critical business decisions, it is imperative to undertake an extensive due diligence investigation.  Due Diligence is defined as, “the care a reasonable person exercises to avoid harm to other persons or their property.” Investigative Due Diligence refers to the research and analysis of an individual or organization done … Read more

FINANCIAL SERVICES FIRMS AND BANKS FACE CHALLENGES AGAINST CRYPTO MONEY LAUNDERERS

Virtual currencies such as Bitcoin are becoming mainstream and many traditional banking customers are regularly transacting with cryptocurrency exchanges.  The senior compliance management teams at the institutions must implement robust anti-money laundering (AML) and other customer and vendor risk management solutions in this area to avoid severe fines and potential jail time for executives. Banking … Read more

FINCEN LAUNCHES REGULATORY PROCESS FOR NEW BENEFICIAL OWNERSHIP REPORTING REQUIREMENT

WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today issued an Advance Notice of Proposed Rulemaking (ANPRM) to solicit public comment on a wide range of questions related to the implementation of the beneficial ownership information reporting provisions of the Corporate Transparency Act (CTA). This ANPRM is the first in a series of regulatory actions that FinCEN will undertake … Read more

MODEVITY EXPANDS VENDOR RISK MANAGEMENT AS A SERVICE

West Chester, PA – Monday, March 22, 2021 Modevity, LLC, a leading Commercial Intelligence company established in 2004 specializing in Investigative Due Diligence Research Services, announced today that the company has expanded its Vendor Risk Assessment System to offer complete “Vendor Risk Management as a Service.” The Modevity Vendor Risk Management Platform provided as an outsourced service will provide clients … Read more

PRESIDENT BIDEN ORDERS COMPREHENSIVE SUPPLY CHAIN REVIEW

President Biden will sign an executive order that will require the government to produce unclassified assessments of key industries and their supply chains, including semiconductor manufacturing, electric car batteries, medical supplies, and rare earth elements such as the ones used in iPhones and military systems. The executive order, mentioned by White House press secretary Jen … Read more

MODEVITY INVESTIGATIVE DUE DILIGENCE SERVICES SUPPORTS STANFORD UNIVERSITY IN THEIR KNOW YOUR DONOR PROGRAM

Modevity, LLC, a leading Commercial Intelligence company established in 2004 specializing in Investigative Due Diligence Research Services, announced that the company supports Stanford University for their ‘Know Your Donor’ international due diligence. Modevity continues to expand our Investigative Due Diligence Research Reporting support to Universities in their ‘Know Your Donor’ program initiatives. “University Compliance and Legal professionals recognize … Read more

CURRENT STATE OF ANTI-MONEY LAUNDERING INTERNATIONAL INITIATIVES

It is surprising to consider that roughly 2% of global GDP is laundered annually, amounting to between $800B – $2T. Banks spend around $8B annually combating Money Laundering activities but affect only 0.1% of criminal finance. KYC 360 wrote about this AML problem recently and this blog highlights their findings and commentary. In their findings … Read more

STUDY HIGHLIGHTS HOW SUPPLY CHAINS EMERGE FROM GLOBAL CRISIS

Research also showed that the global pandemic crisis has dramatically changed attitudes to risk. Interesting to see recent research from Orange Business Services uncovered that the supply chains in 40% of multinational corporations were unable to cope with the crisis created by the pandemic. Also, tech providers of Big Data Analytics, Artificial Intelligence (AI), Cloud, … Read more

FINCEN ANNOUNCES $390,000,000 ENFORCEMENT ACTION AGAINST CAPITAL ONE, NATIONAL ASSOCIATION FOR VIOLATIONS OF THE BANK SECRECY ACT

Immediate Release January 15, 2021 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today announced that Capital One, National Association (Capital One) has been assessed a $390,000,000 civil money penalty for engaging in both willful and negligent violations of the Bank Secrecy Act (BSA) and its implementing regulations. Specifically, FinCEN determined and Capital One admitted to willfully failing to … Read more

MODEVITY SIGNS ON WITH THOMSON-REUTERS TO BROADEN VENDOR RISK MANAGEMENT SERVICES

With CLEAR’s third-party risk management software, the Modevity team can help our clients mitigate their corporate and reputational risk through billions of data points and a scalable consistent process and powerful reports. West Chester, PA USA – Tuesday, January 5, 2021 Modevity, LLC, a leading Commercial Intelligence company established in 2004 specializing in Investigative Due Diligence Research Services, announced … Read more

MODEVITY ANNOUNCES OUR GENERAL SERVICES ADMINISTRATION – GSA MULTIPLE AWARD SCHEDULE (MAS) CONTRACT

Modevity, LLC, a leading Commercial Intelligence company established in 2004 specializing in Investigative Due Diligence Research Services, announced today that the company received approval by General Services Administration for GSA Multiple Award Schedule (MAS) MAS Contract. Modevity professional Investigative Due Diligence services under the GSA Multiple Award Schedule (MAS) MAS Contract is for NAICS Code 561611 … Read more

HOW WELL DO YOU KNOW YOUR SUPPLIERS AND CHANNEL PARTNERS?

By: Tom J. Canova, Co-Founder, CMO, Modevity  In Today’s complex business ecosystem, companies rely more and more on third-party supplier relationships and a growing supply chain to meet organizational objectives. It is vital for any company to manage these relationships and apply due diligence to onboard new vendors and apply third-party risk analysis and continuous … Read more