Borrower verification services
Verification of individuals: identification of connections, property status, participation in enterprises, controllability, vulnerable parties (tax evasion, fraud and other illegal activities).
Checking legal entities: defining areas of core business, identifying trustworthiness / legality / fictitiousness, assessing an enterprise, partners and competitors, ways of doing business, vulnerabilities (tax evasion, fraud, theft and other illegal activities), assessing the reality of carrying out the undertaken obligations.
The Bank asked to study the Company, which is applying for a loan, to determine its reliability, identify credit risks.
A financial and economic study of the Company was carried out, after which it was found that despite the formal compliance with the Bank’s criteria for obtaining a loan, the real beneficiaries of this Company, using similar legal entities, are involved in fraudulent schemes of seizing money from banking institutions and the property of their counterparties.
The enterprises of this beneficiary operate as follows:
1. Create a beautiful “showcase” of a potential borrower (untwist financial indicators to the level necessary to obtain a loan, drive illiquid assets).
2. Non-liquid or swollen assets of legally unrelated but actually controlled companies shall be left as collateral.
3. The guarantor is a legally unrelated, but in fact controlled company, also with a beautiful “window”.
4. The borrower receives loans from banks.
5. Money is withdrawn from the company of the borrower.
6. Artificially create accounts payable (non-payment for the delivery of goods) of the borrower and guarantors with controlled enterprises.
7. Lenders (controlled companies) file for bankruptcy of the borrower and guarantors.
8. Borrowers and guarantors go bankrupt, collateral is sold for a “penny”, the bank remains without a repaid loan.
As a result of the work performed, the Bank was warned of the corresponding risks that could arise as a result of fraudulent actions by a group of companies and avoided possible financial losses.