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Saturday, May 29, 2010

Due Diligence Background Checklist

by Joe Hoover

This checklist provides guidance for anyone wishing to accomplish a thorough and complete Due Diligence Background Check. Before proceeding, you might want to check your state’s requirements concerning legal matters and, “Due Diligence.”

Personal Information & Identity Verification

The goal here is to positively identify your subject. Database data derived are from credit reports, utility bills and magazine subscriptions. Results will vary depending on the information you provide. When comparing data derived from these initial searches, discrepancies will stand out like a red flag!: A different DOB or SSN; one or more AKA’s – these disclosures may indicate an area of concern. One will question: “Why . . . ?”

Important: Before proceeding with anything else, run these additional searches to complete a thorough Personal Information and Identity Verification:

Social Security Number Check
DOB validation
Preliminary Name and Address History
Second Name Search
Credit Header Search
National Death Index Check
Driver's License Information
Driving Record History

Once you have accomplished the Identity Searches listed above, run these important searches:

National Background Trace Detail Report
Phone Summary
Verified Addresses
Previous & Non-Verified Addresses
Possible Properties Owned by Subject
Possible Associates
Possible Relatives
Possible Neighbors

Business Relationships & Professional Information


An individual's assets are often discovered in the name of a business or partnership. Personal and business collateral is often provided for business loans. Uniform Commercial Code (UCC) filings may include the name(s) of bank(s) that provided the business loan(s). A Business Credit Report will provide meaningful, invaluable information, like the names of owners and top management, as well as giving credit ratings within the particular industry of interest.

Business Search
Business relationships and Corporate Affiliations
Company Name Search
UCC Filings
Legal Actions
FEIN Search
Professional License Searches
FAA Registrations
Vessel Registrations

Professional Verification


These searches verify employment, professional licensing, and educational achievement. This is very important information required when conducting a comprehensive Due Diligence Background Check.

Education Verification
Employment Verification

Financial Information

If you hold a judgment or are considering a lawsuit to collect money you are owed, real property (with the exception of exempted real property), vehicles, aircraft, and boats, are easiest to attach.

Nationwide Property Ownership
Deed Transfers
Motor Vehicles Registration
Boats
Aircraft

Civil Court Records


Check Civil Court Records for lawsuits, judgments and liens: These records will reveal a great deal about a person's financial situation, and reliability. Some filings, like liens, lawsuits and judgments, often appear as a "derogatory" dis-closer on a credit report.

Evictions, Lawsuits, Judgments & Liens National Bankruptcy Records Search
Federal Civil Court Search

Criminal Records


To conduct a through and complete criminal records database search, first
confirm your subject's previous addresses, including the counties of residence. All states do not operate a statewide criminal courts database. All states do not contribute or report to a national database. Therefore, there is no national database of all criminal records. Always check four levels of criminal records: National Department of Corrections (DOC), for current and past felons; Federal Criminal, for crimes that fall into the federal jurisdiction; Statewide Criminal, for those states that have such a reporting system; and, of course, County Criminal Courts records, the most concise and up-to-date records available to all.


Arrests Warrants
Federal Criminal Records
Nationwide Criminal Record
State Criminal Record
County Criminal Record
Sexual Offender Search
OFAC

Print the "Due Diligence Check-List"

Investigative Professionals performs complete and thorough Background Checks. Order a Due Diligence Background Check.