RISK MANAGEMENT

Data-Driven Due Diligence 

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As in-house counsel experience a global shift towards the "guardian model" with a focus on managing increasingly complex risks, so to their Australian law firms are continuing to invest in their Risk Advisory Services capabilities. 

Law firms aiming to capitalise on this segment must understand both the complexities and capabilities involved. Whereas employment, tax, and contractual risks might have typically been managed using existing in-house expertise, challenges can arise when dealing with more complex areas such as M&A, IPO, AML, and foreign ownership and investment. This is compounded with an environment of increasing focus and regulatory obligations around on modern slavery, partner due diligence, supply chains, and risks associated with third parties, particularly those located offshore.

Providing effective advice on these risks necessitates access to extensive risk-related data and expert analysis.

How Thomson Reuters can help

  • Access to accurate and up-to-date data is paramount; relying on mere Google searches is inadequate for assessing risk. The realm of risk data is a growing industry; numerous data vendors offer risk information, however, only Thomson Reuters has access to a global data set encompassing multiple risk areas including: 

    • Global and corporate business data 
    • UBO (Ultimate Beneficial Ownership) information 
    • Economic and financial data 
    • Supply chain security research 
    • Comprehensive, global open-source risk data covering areas such as sanctions lists, law enforcement lists, regulatory enforcement lists, political exposures 
    • Global news data for monitoring adverse media 

  • Thomson Reuters can deliver a managed risk service to law firms, offering a broad range of services designed to cater to various risk-related research requirements, encompassing corporate M&A risk assessment, risk management support and third-party risk and research projects. Our global presence enables us to collaborate with a diverse client base on an extensive array of projects.

  • We cover a diverse range of Risk projects.  

    Examples of due diligence and KYC performed by Thomson Reuters include:

    Insider threat and third-party risk analyses for a US defence supplier

    • Rare earth mineral research for a prominent car manufacturer
    • Identifying Global Risk Insights, Travel Security and Deep Research for a global law firm 
    • KYC, EDD and performing vetting on high-net-worth players for large casinos 

    Thomson Reuters Risk Managed Service combines global risk data and subject matter expertise to help cost-effectively grow your law firm's established risk practise or to accelerate the ) development of a new Risk revenue stream.     

Key areas of coverage

Adverse Media

Privileged access to global, market-leading media and news data, including Reuters.

PEPs & Sanctions

Unfiltered access to data on PEPs, SOEs, sanctions, and foreign affiliations, among others.

Beneficial Ownership

Corporate records data on global entities and analyst expertise on complex/opaque structures.

Regulatory & Legal

Unique access to public records and global risk data, including criminal and financial health indicators.

Spreadsheets and cobbled tech solutions don’t work for today’s compliance requirements
Manually moving and adjusting data isn’t a solution. It’s a risk. Choose the technology solution that helps, not hinders. Make sure you’re getting an integrated solution that covers your business needs. 

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