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News 4 December 2023

Express Analysis: Identifying Russian and Belarusian Ties

Express Analysis: Identifying Russian and Belarusian Ties

YouControl's Express Analysis now offers a quick way for businesses to evaluate the trustworthiness of partners. This update introduces five new factors for promptly identifying links with Russia and Belarus in business dealings.

Express Analysis primarily highlights critical factors that require in-depth verification. It streamlines the process, covering over 530 risk factors, and provides a comprehensive yet swift analysis of companies or individual entrepreneurs.

In response to Russia's invasion of Ukraine, we've enhanced Express Analysis to detect connections with Russia and Belarus, aiding in averting the risks of engaging with potentially adversarial businesses.

New Additions to Express Analysis

The latest updates focus on key risk areas:

  1. If the counterparty's ultimate beneficial owner or participant is based in Russia or is a Russian citizen.
  2. If the counterparty's ultimate beneficial owner or participant is based in Belarus or is a Belarusian citizen.
  3. References to the aggressor country in the counterparty's name.
  4. Affiliation with a joint holding company operating under Russian jurisdiction.
  5. Ukrainian company membership in entities under Russian law.

Risks of Engaging with Russian Partners

Engaging with these counterparts can attract law enforcement scrutiny, trigger investigations, and harm reputations due to public disapproval. Ukraine, the EU, and the US may impose sanctions on businesses and their key figures for cooperating with Russia. Such partnerships might also be viewed as supporting military aggression against Ukraine.

The enhancements to Express Analysis bolster its effectiveness. It's particularly useful for regular Anti-Money Laundering (AML) and Know Your Customer (KYC) activities, aiding compliance and risk managers in their duties. In today's climate, it's crucial for businesses of all sizes, including start-ups and individual entrepreneurs, to avoid associations with entities linked to a "Russian trace."


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News 9 April 2021

Data on Fines from the Antimonopoly Committee of Ukraine Are Now in the Express Analysis

The Express Analysis from YouControl now shows fines from the Antimonopoly Committee of Ukraine (AMCU) for violating the rules of economic competition. Previously such information had to be sought in the official public announcements of the AMCU, now it can be checked in YouControl in 30 seconds.   The tool will be useful to automate the process of checking a counterparty during tenders.

Blog 25 March 2021

Risks of Cooperation with Counterparties from Countries with a High Level of Corruption

The location of participants or beneficiaries of a company in the so-called risky jurisdictions attracts special attention of the National Bank of Ukraine (NBU) within financial monitoring. We devoted a separate article to this factor. You will find the whole series of articles on risk factors and the provisions of the Law on Financial Monitoring at the end of this article.   The Corruption Perceptions Index is a global ranking of countries concerning their corrupt practices.

Blog 19 March 2021

Risks of Cooperation with Tax Evaders

Debts to the Tax Service are one of the risk factors according to the National Bank of Ukraine (NBU). The Express Analysis from YouControl draws your attention to this factor while checking a counterparty and works out if a company has a tax debt for the last available period. We are explaining what this means and why you need to be especially careful while working with such a counterparty.   A tax debt is the amount of monetary obligation not paid by a taxpayer in a timely manner.

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