EFFECTIVE DUE DILIGENCE REQUIRES MUCH MORE THAN SIMPLY ACCESSING GOOGLE MAPS

The recent article directing readers to the use of Google Maps, to verify addresses, confirm physical locations of new account holders and their listed businesses, misses the mark. Compliance officers should, wherever possible, stock to official county, state and local information resources, as the Google information you intend to rely upon is most most likely stale, and therefore could be unreliable. Local government records, which are used for tax assessment and collection purposes are far more reliable, especially when double-checked by accessing public records databases of recorded documents. For example, Government real property records, used for tax purposes, are not only a rich source of very detailed, information, they may also give you historical data you cannot find without painstaking trolling of other resources. Become familiar with, and know precisely where all your government information online and hard copy sources are, and depend upon them first. They may be the only suspicious activity indicators you will find.

Remember, not all Google resources tell the inquirer how many months, or years, it has been since the information was posted. Money launderers often create credible cover stories about front companies by piggybacking upon formerly existing but no longer active legitimate businesses, addresses or locations, thinking that your perfunctory due diligence checks won't uncover the inconsistencies that a thorough examination, with dual confirmation of data might reveal. Ignore unofficial resources whenever possible, as those may just have settled upon republishing dated data, and are neither current nor accurate.