Due Diligence for Membership
Methodology
March 2023
The Secure Identity Alliance welcomes any company
– providing it meets the conditions for membership
- willing to contribute to achieve the goal of the Alliance.
All applications for membership are subject to a standardized due diligence process overseen by Forward Global, an economic intelligence firm specialising in regulatory compliance as well as third party integrity and reputational due diligence. The due diligence conducted by Avisa Partners on the Alliance’s behalf is carried out on the basis of a clearly defined and objective set of criteria to ensure all members are in good standing with relation to applicable legal and ethical standards and that they are aligned with the Alliance’s guiding principles. These criteria cover, among other factors, the public reputation and any past legal, financial, regulatory, or ESG issues involving the applicant.
Due Diligence Methodology
for Applicants to the SIA
(Members and affiliated members)
Due diligence is carried out along three pillars:
corruption, governance/human rights and IP breach identified issues taking the following geographical references based on country of incorporation of company.
Due Diligence for Membership
| Corruption Reference | Governance / Human Rights Reference https://fragilestatesindex.org | IP Breach Reference media coverage | |
|---|---|---|---|
| Level 1. Check TAT: 2 business days Budget: 200 euros (excl. VAT) |
Non-flagged countries | Non-flagged countries | |
| Level 2. Due Diligence TAT: 10-12 business days Budget: 1,800 euros (excl. VAT) |
Flagged countries Or if issue identified in Level 1 and no satisfactory answers are given Cost to be paid by Applicant if candidacy maintained (Industry only) |
Flagged countries Or if issue identified in Level 1 and no satisfactory answers are given Cost to be paid by Applicant if candidacy maintained (Industry only) |
Included in Levels 2 & 3 Due Diligence |
| Level 3. Enhanced Due Diligence TAT: 15-17 business days Budget: 5,800 euros (excl. VAT) |
If issue identified in Level 2 and no satisfactory answers are given Cost to be paid by Applicant if candidacy maintained |
If issue identified in Level 2 and no satisfactory answers are given Cost to be paid by Applicant if candidacy maintained |
Included in Levels 2 & 3 Due Diligence |
If results are green, candidacy can be considered further.
If results are orange, explanations are required. If no satisfactory answer is given, next level of due diligence is required for candidacy to be considered further.
If results are red*, candidacy cannot be considered further.
*Results are red when serious risk factors have been identified (relationship with sanctioned entities, espionage, terrorist financing, corruption, governance/human rights issues, money laundering, tax evasion, etc).
