Enhanced Due Diligence Reports / Detailed KYC Background Checks in Iran

We have been providing our clients with high quality and cost effective enhanced due diligence (EDD) reports on individuals and companies in Iran for a number of years.

If you are contemplating entering into a professional relationship with a potential partner in Iran, it is imperative to conduct enhanced due diligence checks.

A Proximal Consulting enhanced due diligence report will confirm whether a customer or partner (prospective or existing) is providing you with complete and accurate information. Our detailed research will also uncover any existence of criminal activity such as money laundering, corruption, terrorist financing or fraud.

Through a combination of extensive and proven investigative tools, together with reliable associates providing in-country intelligence, we can determine the legitimacy of an individual or legal entity in Iran. It should be noted that investigations into private individuals in Iran are severely restricted. However, over the years we have gained considerable expertise in successfully conducting investigations in Iran.

In terms of our investigations, we seek to confirm the following information during the course of our enquiries:

  • Confirmation of identity
  • Current and/or previous residential addresses
  • Past and/or present passports issued to the subject of our report
  • Information regarding the subject’s family members and civil status
  • The subject’s career history and professional background, including corporate positions and shareholdings
  • Any negative or detrimental material regarding the subject and the subject’s business interests
  • Whether the subject should be viewed as a PEP (politically exposed person) and/or a close family member or associate of a PEP
  • Any links between the subject and organised crime, money laundering, corruption, business crime and/or any other type of criminal activity
  • Sanctions risks

Client confidentiality is of the utmost importance to us, and all of our enhanced due diligence checks in Iran are conducted in a totally discreet manner.

Risk Factors

FATF Classification

FATF (Financial Action Task Force) classifies Iran as being subject to a “call on its members and other jurisdictions to apply enhanced due diligence measures proportionate to the risks arising from the jurisdiction”. FATF has previously called on its members to apply counter-measures to protect the international financial system from the on-going and substantial money laundering and terrorist financing (ML/FT) risks emanating from Iran. 

Sanctions

We also draw attention to the fact that there are various trade and financial sanctions in place against Iran from the European Union, United Nations, the United States and individual countries. Despite some sanctions being lifted, this still remains a risk factor when conducting business in Iran.

How We Can Help

There remain serious legal, political, financial, and reputational risks associated with doing business in Iran. Our enhanced due diligence reports on Iranian individuals and corporate entities will not only ensure that the legal and regulatory obligations of our clients have been met, but they are also designed to safeguard our clients from any of these potential risks. 

Our resources section features client case examples, frequently asked questions and fact sheets of key AML topics alongside our archived white paper collection.

Also see our section on providing enhanced KYC reporting in the Middle East.