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The Growing Interest in Self Diligence

Dear Friends,

The recent embarrassment visited upon Yahoo!’s board of directors—and
its former CEO Scott Thompson—reminds me of an important trend that I
would like to bring to your attention.

Thompson, you will remember, padded his resume. Not satisfied with his
college degree in accounting, the tech company CEO added a computer
science degree to his CV, something a normal background check would not
have picked up.

Only when an activist investor started really digging was it discovered
that Thompson’s alma mater didn’t even have a Computer Science
department in the 1970s when he attended. The story has received so
much attention for the way it cast doubt upon the new CEO’s personal
ethics and his fitness to run a large corporation.

But I draw a different conclusion: in today’s high-pressure
communications environment, discovery is inevitable. There are too many
interested parties with too much access and too many reasons to ferret
out any detail about a prominent figure. The same applies to
companies—only more so.
Self Diligence

Smart players in the global business world have begun to ask us for
something we call Self Diligence. These background checks are designed
to give the subject an understanding of how others will perceive their
backgrounds, their actions or the corporate entities they own or
operate through. Our clients know that they're getting a window on what
others see during a cursory search for information before an important
meeting or what information might come to light in the heat of a deal.

A staple of modern corporate strategy is having the ability to uncover
damaging information about one’s opponents. This practice, which began
as opposition research in politics, has now become widespread in
business. It is to our clients' benefit to know ahead of time what
their opponents might seize upon, what regulators might flag and what
they can begin to ameliorate before engaging in significant venture.

Self Diligence can take two forms: a check of public records or an
in-depth reputational review covering a subject’s entire career, his or
her ownership interests and any political connections that have played
a role in his or her business.

Deep Diligence
Our background research goes beyond due diligence to something we call
“deep” diligence. That includes determining as best we can the truth of
various allegations, understanding the subject’s social and media
footprint and gauging sentiment about the subject and his or her
actions.

We do our research using proprietary technology and in-depth
interviews. Our in-house analysts research extensively and collaborate
with knowledgable sources and investigators in cities around the world
where the subject has had dealings. We consult experts in the relevant
fields, do property searches and talk to legal and law enforcement
contacts to best determine reality and risks.

At the end, we produce an independent report that allows the subject to
see himself or herself through the eyes of the rest of the world. Armed
with this knowledge, our clients can explain, dispel or capitalize upon
the impressions we’ve uncovered. Our work is confidential, frank and
authoritative, an invaluable tool for anyone who wants to ensure they
don’t get blind-sided.

June, A Busy Month

June has a been a big month for us. I want to take a moment to share
with you all that has happened. K2 Global Consultants became K2
Intelligence; we moved offices a few blocks in Manhattan to accommodate
our growing staff; including:
* Louis Vetter who joined us as a forensic accountant. He as served
as the expert to the trustee in a highly publicized Ponzi scheme
and testified in numerous adversary proceedings.
* Dana Irvis who comes to us from the New York County District
Attorney’s Office, where she most recently worked in the Major
Economic Crimes Bureau investigating complex white-collar crimes
including money laundering, commodities trading fraud and mortgage
fraud.
* Mitch Silber will lead our new K2 Analytics division as it develops
and deploys new products and services. He will be building upon his
experience as the Director of the NYPD Intelligence Division’s
Analytic and Cyber Units where he used some of the most
sophisticated technologies available to the government. With K2
Intelligence, Mitch will be able to adapt those same tools to
private sector uses.

One area of our work that Mitch will be helping to support is our
Anti-Money Laundering compliance and Fraud Detection and Prevention for
financial institutions. We’re [1]hosting a breakfast at our offices on
July 31st where we’ll explain more how AML and Anti-Fraud measures are
converging. If you’d like to attend, there’s more information here or
feel free to get in touch.
Links:
1. http://www.eventbrite.com/event/3748495852?ref=elink

Best,

Jeremy Kroll
CEO and Co-Founder
[2]K2 Global Consulting N.A., LLC
[3]www.k2global.net
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