Idea and Background

The Idea

GCRD is a tool that helps to conduct compliance-based research across jurisdictions complete, consistent and compliant

    All too often, identifying what relevant public records or open sources are available in a particular jurisdiction is a challenge, yet alone gauging their reliability or understanding their access conditions. This is not surprising given the the  vast political, social, economic and legal disparities among countries, even those of the same political system or within the same regional grouping. In some jurisdictions, public records are sparse or their reliability is questionable. In others, there is an enormous wealth of information available to those who know where to find it. 
    The Global Compliance and Counterparty Records Directory (GCRD) is the first database of relevant sources for compliance research.
    It helps clients to conduct documented compliance research - or to check if performed research measures were sufficient. Our aim is to provide information that is correct and up to date, consistent in its methodology, comparable across countries - and compliant with existing laws of the particular jurisdiction. Please find details about coverage, contents and production process on the following pages.

The Background

    The business environment for global companies is characterized by increasingly strict compliance regulations in order to reduce levels of corruption, fight money laundering, and combat the spread and financing of international terrorism.
    Regulatory standards such as the Foreign Corrupt Practices Act (FCPA), the Sarbanes Oxley Act (SOX), the UK Bribery Act and relevant national regulations often necessitate that companies conduct due diligence and background research on business partners prior to entering any formal agreement or transaction, with high and painful penalties for non-compliance. However, such research is also in the interests of the company itself, enabling it to identify and mitigate any possible red flags or issues of concern in advance.
Information is therefore key for risk management - but what is exactly needed and where can it be found? Imagine the following scenario: A company wants to do business with a potential new partner. In order to fulfill its compliance obligations, the company needs to conduct research on issues such as:
  • Reliable information on the profile of the partner company
  • All further related parties (affiliated companies, shareholders, directors) and beneficial ownership
  • Information about the financial status and potential insolvencies or bankruptcies
  • Information on potential criminal or civil litigation
  • Information on any other potential criminal or reputational risks
    To answer these questions, information from official and publicly available records is necessary, such as corporate registers, registration records, criminal records, property records etc.
    But their availability, accessibility and quality varies by country, given the different legal conditions and filing requirements. While the information situation in many western economies is already scarce, it is even more difficult in many emerging countries, where most transactions take place.
    The Global Compliance and Counterparty Records Directory (GCRD) is the first database of relevant sources for this particular kind of research, with a planned coverage of more than 100 countries. It delivers a country-by-country overview on where to find relevant information in the local public records or other open sources. Containing categories from corporate register information to bankruptcy information and publicly available court records, GCRD includes structured information on the existence, contents and access conditions of these sources.
      GCRD is a directory that helps clients to conduct documented research - or to check if performed research measures were sufficient. Making sure that the information is correct and up to date, consistent in its methodology, comparable across countries and compliant with existing laws of the particular country.

      GCRD transforms unstructured and complex data about country registers into structured information. And it helps to ensure that customers use the full spectrum of available information to fulfill their compliance requirements.

The Founder

GCRD international was founded by Dr. Pascal Ditté and works with a network of external experts (contributors).

Years of experience in international consulting, research and security/intellligence.
Before starting GCRD, Pascal Ditté was a Senior Manager at Deloitte, responsible for the Business Intelligence practice within its Forensic & Dispute Services group in Germany. Prior to that, he worked with the Consulting Division of Global Insight (now IHS Globalinsight), a US-based leading provider of industry analysis and global country information. Pascal Ditté also worked with Droege & Comp. Singapore as a part of an International Management Program and has long experience as an intelligence analyst in the area of political, economic and security risk analysis in the Federal German Armed Forces.

 

 

(c) GCRD international Dr. Pascal Ditté