A privately held company, Edward Myers & Associates, Inc., was founded by Edward Myers, a leading private investigator with more than 25 years of public and private sector experience. Edward Myers & Associates, Inc., has been providing security, private investigation, background verification, and due diligence consulting for more than 18 years.
Both personal and business related due diligence requirements have become increasingly complex in recent years. Some of the key terms related to due diligence include:
1. USA Patriot Act. Under the Patriot Act, financial institutions that maintain a bank account for a nonresident are required to have due diligence procedures in place to identify and report possible money laundering activities.
2. Foreign Corrupt Practices Act (FCPA). The FCPA applies to publicly traded companies and, in general, prohibits the payment of bribes to foreign officials for the purpose of getting or keeping business.
3. Office of Foreign Assets Control (OFAC). The OFAC is responsible for the administration and enforcement of US economic and trade sanctions against foreign countries and other entities.
4. Specially Designated Nationals. A list of countries, companies, and individuals that US citizens and companies are prohibited from doing business with.
5. Customer Identification Program. This program requires companies to verify the identity of its customers.
Both personal and business related due diligence requirements have become increasingly complex in recent years. Some of the key terms related to due diligence include:
1. USA Patriot Act. Under the Patriot Act, financial institutions that maintain a bank account for a nonresident are required to have due diligence procedures in place to identify and report possible money laundering activities.
2. Foreign Corrupt Practices Act (FCPA). The FCPA applies to publicly traded companies and, in general, prohibits the payment of bribes to foreign officials for the purpose of getting or keeping business.
3. Office of Foreign Assets Control (OFAC). The OFAC is responsible for the administration and enforcement of US economic and trade sanctions against foreign countries and other entities.
4. Specially Designated Nationals. A list of countries, companies, and individuals that US citizens and companies are prohibited from doing business with.
5. Customer Identification Program. This program requires companies to verify the identity of its customers.