Last Saturday, my kids finally finished watching the live action Aladdin movie. While there are a decent number of compliance messages in the movie, the one that sticks out to me is that some fairly basic due diligence would have revealed that “Prince Ali” was not who he presented himself to be. While Jafar was a rather crazy villain, he seems to be the only character in the movie who grasps the importance of conducting due diligence and background checks. People and risks can hide behind entities, and conducting due diligence and background checks on third parties can help ensure you know who you are actually dealing with and doing business with.
Does a third party appear to be overly impressive, makes outlandish claimed and boast an incredible background that cannot be verified? Chances are you are not dealing with who they say they are, and you can confirm that with some basic due diligence.