Refinitiv offers free due diligence checks to tackle supply chain problems in health sector

Refinitiv, one of the world’s largest providers of data, is announcing today it will offer hospital groups and governments free due diligence reports to help tackle problems with their supply chains resulting from Covid-19.

In the search for important PPE, the reports will help with sourcing and on-boarding new suppliers by assisting in un-earthing opportunistic fraud schemes targeting the healthcare industry, as they scramble to acquire medical supplies.

Warnings issued to the medical community from law enforcement agencies and regulators have urged heightened vigilance and to exercise appropriate due diligence and caution when dealing with new vendors and when relying on unidentified third parties in the supply chain.

In March, the FBI warned healthcare professionals of the increased fraudulent sales of Covid-19-related medical equipment. In the UK, the Medicines and Healthcare products Regulatory Agency warned of a disturbing trend of criminals who are taking advantage of the Covid-19 outbreak by exploiting the high market demand for personal protection and hygiene products.

With the global supply chain experiencing significant disruption and medical needs crucial, it is imperative that healthcare providers can continue to deliver necessary patient care.

“Refinitiv is providing a free enhanced due diligence service to help healthcare providers identify key risks when dealing with new suppliers and third parties in the face of unprecedented demand for medicines and equipment to help contain the coronavirus, said Phil Cotter, Managing Director of the Risk business at Refinitiv. “Governments and the healthcare industry have struggled to source and secure legitimate supplies such as Covid-19 testing kits as well as personal protective equipment. Our offer of help is intended to help speed up the onboarding of suppliers while avoiding the fraudsters that are targeting the industry with fraudulent equipment and scams.”

The offer of free enhanced due diligence reports is available to hospital groups and government agencies who are sourcing critical personal protective equipment to battle the global COVID-19 pandemic. For more information, please visit the Refinitiv website here.

The Enhanced Due Diligence reports from Refinitiv provide detailed background checks on individuals and entities, helping compliance teams comply with anti-money laundering, anti-bribery and corruption regulations, optimize the due diligence process, and protect company reputation.

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Author: Laimis Bilys

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