Does Your Investor Know Who They’re Dealing With? Do You?

In the wake of the recent high-profile fraud cases every savvy investor will insist on knowing that all representatives of Regional Centers, NCEs and JCEs along with associated developers and contractors have been vetted.  It is often said that the best indicator of future performance is past performance and we have proven ways to determine an individual’s past performance.  Each project should have full background checks and keep them updated annually to ensure the integrity of the entire team. 

As the world continues to become “smaller” and more complex, the need for quality information verification, delivered on-time and on-budget has become a business necessity.  What would happen if the person or company you do business with turns out to be something other than what they have portrayed themselves to be?  A minor inconvenience at best and an unmitigated disaster in terms of potential economic loss and the corresponding reputational risk in the event of a worst case scenario, even worse if it should prove out that a little bit of diligence would have otherwise prevented the harm in the first place! 

Until recently, oversite for EB-5 transactions has been limited and largely left open to interpretation by individual actors within the wider EB-5 context, but now that several high profile fraud cases have put the program into the crosshairs of regulators, commercial grade background checks have become a much anticipated and talked about development.  The ability to track and report on these background verifications can easily be documented within the Global Verification Network software interface.  Given the possibility that regulators could “drop in” for a look at your diligence documentation, operators should be ready with written documentation that proper diligence has been conducted on those with whom you do business, and those who act on your behalf!  

Global Verification Network is a recognized Consumer Reporting Agency (CRA) located in the United States.  They have the ability to complete both foreign and domestic civil, criminal, and financial vetting searches along with a variety of additional examinations.  Unlike some other CRA’s, Global Verification Network does not off-shore the work they do.  In addition, all of their in-house team of investigators have the requisite training and education to properly investigate and protect your most sensitive, and critical, business information.    

Global Verification Network is an important part of the toolset ISCoA arms our clients with to help provide compliant investment options for investors.  Providing annually updated background checks will likely become the standard in the industry but in the short-term those who offer them will distinguish themselves through the gesture.  Let Global Verification Network provide services that have been customized for Regional Centers.  

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