Due Diligence and Ongoing Monitoring

This message was posted by a user wishing to remain anonymous

QUESTION:  What is best practice for vetting landlords (owners and agents) of branch locations?  Do you treat them any differently than other vendors?  These 'vendors' vary from large corporate entities to properties owned by individuals. Do you do OFAC, etc. checks on all related individuals and companies?

Thank you.

Yes, definitely do OFAC and PEP checks on the ownership and all leadership. Also, please look into their hiring and background checks.
Original Message:
Sent: 06-10-2020 03:42 PM
From: Anonymous Member
Subject: Branch location landlords and agents

This message was posted by a user wishing to remain anonymous

QUESTION:  What is best practice for vetting landlords (owners and agents) of branch locations?  Do you treat them any differently than other vendors?  These 'vendors' vary from large corporate entities to properties owned by individuals. Do you do OFAC, etc. checks on all related individuals and companies?

Thank you.