BQ USE CASES IN KYB, FRAUD & COMPLIANCE
VISIT DOCS.BRIGHTQUERY.COM FOR DETAILED FIELDS & COVERAGE
BUSINESS & EIN CHECK
• Organization name & address check against IRS & other registration agencies
• Includes DBA, current & prior legal names, and all locations (offices, shops, etc.) in operation
• EIN check against BQ database; also available real-time check against IRS database
LEGAL ENTITY CHECK
• Legal entity name & address check against Secretary of State, including history
• Legal status check (Active / Inactive, Good Standing)
• Legal entity hierarchy check, to identify controlling entities
OPERATIONAL & FINANCIAL CHECK
• Economic status check: is the company active & operational
• Financial check: is the company financially healthy & stable
• Company type check: Employer (with W-2 employees), Holding Company, Sole Proprieto
OWNER & HISTORY CHECK
• Principals check against directors & officers of current & prior entities
• Address check of principals
• Related entities check to detect unusual activity over time & across entities
ADDRESS CHECK
• Verification of address for each location / establishment operated by the business
• Residential / commercial & vacancy check
• Check for multiple entities having the same address
COMPLIANCE CHECK
• OFAC check of legal entities, including ultimate parent & child entities
• OFAC check of principals
• Tax liens check of companies
U.S. COMPLETE COVERAGE
4,319 tickers with monthly employment and payroll
67,093 subsidiaries of public companies
193,388 CIKs
188,134 LEIs
9,091,279 private firms with quarterly financials and monthly employment and payroll
Challenges & Solutions
| CHALLENGES WITH EXISTING SOLUTIONS | BQ SOLUTION |
|---|---|
| Inactive records | Active companies |
| Shut-downs are hard to detect | Inferred from IRS & DOL filings |
| Duplicate records | Unique companies |
| From ownership and location issues | From EIN and DOL records |
| Inaccurate industry | Accurate industry |
| Derived from statistical models & surveys | Self-reported in IRS and DOL filings |
| Inaccurate employment | Precise employment |
| Derived from statistical models & surveys | Self-reported in IRS and DOL filings |
| Inaccurate financials | IRS financials |
| Derived from statistical models & surveys | Financials based on IRS audit procedures |
