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Going deep on customer due diligence with Infotrack searches

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Why use InfoTrack’s additional searches and services?

CreditorWatch’s integration with the award-winning InfoTrack search portal gives our customers access to several additional searches and services. InfoTrack is the leading legal tech innovator in Australia, offering more than 4,500 different products. Our seamless integration lets you quickly and easily access all of InfoTrack’s services and resources within your CreditorWatch account.

 

Level up on your due diligence and stay ahead of your competitors  

Perform more searches to better understand your trading partners and comply with legislation and reporting obligations. Get the full picture of your customers, suppliers, debtors and guarantors to improve due diligence and accurately assess creditworthiness.

Searches are available on a pay-per-click basis – only purchase and pay for what you need. These include land titles and property valuations; Know Your Customer (KYC), Anti-Money Laundering (AML), Politically Exposed Persons (PEP) and sanctions lists; international searches; police checks; civil litigation searches; person locator; and many more.

 

How can these additional searches and services help you?

Property and Land Title Searches

Gain a full picture of your customers’ assets

Property and land title searches help businesses investigate the assets owned by an individual or company. Access a comprehensive range of property searches and source information about people, companies and property directly from your CreditorWatch dashboard. Allow you to uncover all the information about your customers’ properties to understand the value and details of their assets. An effective implementation of those standards service provider helps you better assess creditworthiness and personal guarantees to make more informed credit decisions. It also increases transparency to assist debt recovery. Whether you search regularly or just require a one-off, you can quickly access property and land title information for all states.

 

Land Title Search

A land title search provides the complete picture of a property, its limitations and potential red flags. This includes information such as the legal description, property identifier number (PIN), property owner(s), mortgages, easements, covenants, caveats and leases associated with the property. This search can inform your decision on whether a property can be used as security to obtain or refinance a loan. When taking personal guarantees or director guarantees, this provides a better understanding of the type of assets an individual has to their name and how much equity and control they have in it.

 

Property Valuation Search

A property valuation report provides a professional assessment of the market value of a property by a certified valuer. The report is based on the general condition of the home, recent and relevant sales history and other pertinent market data. It also covers property information such as rates, size of the land and building, construction and condition of the dwelling, details about immediate issues and more. This reveals insights into the value of assets owned by potential or existing debtors and mitigate any high risk scenario.

 

National Ownership Search

A national property ownership search reveals all the properties owned by an individual or company in Australia. Simply provide the entity’s name and receive the results of a national search of all Australian Land Registries within a couple of hours. This comprehensive and time-saving search helps with assessing creditworthiness, addressing bankruptcy matters and assisting debt recovery.

 

KYC and AML/CTF

Know your customer and comply with AML/CTF legislation

CreditorWatch’s Know Your Customer (KYC) process verifies the identities of your clients and assesses potential risks of doing business with them. It also helps you comply with AUSTRAC’s Anti-Money Laundering/Counter-Terrorism Financing (AML/CTF) Act, which requires businesses to identify and verify their customers and understand their financial activities. These AML/CTF laws are in place to detect, disrupt and prevent crimes like corruption, bribery, tax evasion and theft.

CreditorWatch offers two types of Anti-Money Laundering reports that help businesses conduct due diligence, comply with KYC and AML legislation and meet reporting obligations:

  • AML Screening Report: This report also includes Politically Exposed Person (PEP) checks, sanction checks and adverse media checks on individuals.
  • AML Screening and Ultimate Beneficial Owners (UBO) report: This report combines AML screening with a UBO report. A UBO report reveals the beneficial owners of an entity with a single click, helping you avoid the complicated process of digging through ASIC reports and manually calculating ownership percentages of entities with complex structures.

 

Streamline your entire KYC process with additional services like Verification of Identity (VOI), Document Verification Service (DVS) and entity and individual verification.

KYC is not just for legislated industries. It helps any business perform advanced due diligence to protect themselves. By increasing transparency, you’re better able to mitigate potential exposure to fraud, criminal activity and financial risk.

 

International Company Search

Perform due diligence on companies worldwide

If you’re working with foreign companies or companies with international links, you should know that international transactions increase your exposure to risk. Conduct international company searches to perform due diligence and evaluate their risks, no matter where they are in the world.

Leverage InfoTrack’s comprehensive global search platform which provides real-time credit report information from databases covering over 250 million companies worldwide, in a single PDF.

These reports give you a competitive advantage as it contains information such as company identification, their principals, payment history and other valuable information, allowing you to make informed credit decisions when dealing with international companies.

 

Police Checks

Receive a National Police Certificate on your trading partners

national police check reviews an entity’s police history and issues an official police clearance certificate. It involves identifying and releasing any relevant Australian Federal Police (AFP) information on the entity, subject to spent convictions, non-disclosure legislation and/or information release polices. It will release a summary of findings of guilt of an individual in any Australian state or territory.

This helps businesses to understand if their trading partners have been involved in any illegal activity. National Police Checks are also an ASIC requirement for ASX-listed entities and when applying for Australian Credit or Financial Services Licences.

InfoTrack is accredited by the Australian Criminal Intelligence Commission’s (ACIC) National Police Checking Service (NPCS) to submit police checks online. These checks require the informed consent of the person being checked. Simply complete an online form, upload identification documents and wait for the police clearance certificate to be emailed to you. Once lodged with ACIC, most police checks are returned within an average of 10 business days.

 

Civil Litigation Search

Find out if your trading partners have a history of civil litigation

A civil litigation search checks if an entity has a record of civil litigation actions across multiple Australian tribunals and courts.

Instead of researching procedures and contacting various registries yourself, just provide the entity’s name and select the courts or tribunals you would like searched. Litigation searches can be conducted across all Australian states and territories, and multiple name searches can be done in a single order.

This is helpful when entering a new business venture, taking on new clients or assessing creditworthiness.

 

Person Locator Search

Track down non-paying debtors

A person locator search tracks individuals or couples down and reveals their last known address, phone number, any default judgements against them, as well as other valuable information.

Simply enter the person’s name and any information you have on them. InfoTrack has access to more than 130 million public Australian records that are regularly updated and cross-indexed to ensure the most accurate and current results.

This is particularly useful for assessing creditworthiness, getting in contact with customers, locating bad debtors and assisting debt recovery.

InfoTrack’s reports provide powerful information to strengthen due diligence, credit management and debt recovery. To find out more about using these additional searches and services for your business, get in touch with us today.