A financial institution retained the KeyNorth Group to review the background of an account applicant. The applicant identified that their business was a legitimate retail store, but that information turned out to be false.
Our research of publicly available information identified that the individual who signed the application on behalf of the business was facing criminal charges relating to proceeds of crime and money laundering; and that the business he said he was operating was vastly different than the one he was actually operating. It was a criminal enterprise.
We conducted a site visit and determined definitively that the business activity was totally unrelated to the information provided by the applicant to our client. Our client was thrilled to know the information.