Comprehensive Conflicts-of-Interest
Checks Made Possible in Singapore
Many take a sampling approach to detecting conflicts of interest (COI), thinking comprehensive checks are impractical. Tap on our COI expertise, and you’ll see that it’s not just possible, but faster and more cost-effective.
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What is a conflict-of-interest check?
By no means the only definition, we refer to a conflict-of-interest check as an organisation’s effort to minimise risks of collusions and frauds – which can arise if connections between employees and external vendors go undetected.
3 common challenges
Your data has too many gaps
Your vendor list is missing registration names and numbers, and your employee declaration forms are difficult to compile.
It costs too much time & labour
Manually cross validating employee declaration forms with company data is labour-intensive and error-prone.
It’s not that straightforward
Some relationships aren’t direct and take time to uncover – and that’s assuming you have the right data and analytics tools to attain the insights you require.
Leverage Our Conflict Check Software
As experts in conflict of interest checks in Asia, Handshakes COI software guides our clients towards effective and efficient risk detection by deep diving into connections and highlighting potential issues.
Pricing
Detect potential conflict of interest with Handshakes
Understanding Conflicts of Interest
A conflict of interest occurs when an individual or organisation has competing interests that may interfere with their ability to fulfil their professional or ethical obligations. Such conflicts can arise in various contexts, such as business and politics, among others. The consequences of conflicts of interest can be significant, including legal and reputational issues.
As one of the leading background screening companies in Singapore, Handshakes leverages both our access to official company registry data and proprietary mapping technology to run checks to highlight any potential issues to you. With deep investigations to uncover hidden direct and indirect connections, our software and solutions will be able to identify various forms of COI, including actual, potential, and perceived conflicts of interest, as well as conflicts of duty.
Detect Potential Conflict of Interest With Handshakes Conflict of Interest Check Software
Enhance risk management, empower safe and informed business decisions, streamline your conflict of interest checks, and achieve a competitive advantage with Handshakes’ conflict check software and solutions. From our Handshakes APP that provides quicker insights on your clients, vendors, employees, and partners to the done-for-you service, Handshakes XPERT, where our expert team will take over your COI checks, attain a 360-degree view of all types of conflicts.
- Effective search
Identifying conflicts of interest can be a complex and resource-intensive process for organisations, potentially consuming more time and resources. As an authorised ACRA data reseller with advanced graph analytics tools, our conflict-of-interest check software enables you to perform background checks efficiently and more accurately. Uncover and visualise deeper connections between entities and persons of interest more quickly. - Reliable data
Our corporate data, including information on official private company registries and capital markets, comes directly from trusted partners – ensuring the reliability of our data. - User-friendly interface
With multiple official datasets available– your employees’ key connections and vendors’ business information – our software will interactively map out relationship networks between individuals or companies to uncover potential conflicts of interest instantly. Insights will be delivered in a format that best suits your needs with easy-to-read profiles and reports – the choice is yours to make.
Our clients
Frequently asked questions
Conflicts of interest can arise from connections between employees and vendors. For example, an employee may have a personal relationship with a vendor that could compromise their objectivity in awarding contracts or making purchasing decisions. Similarly, an employee may have financial interests in a vendor, such as owning stock or receiving kickbacks, that could influence their actions. Detecting and managing such conflicts of interest is essential to maintaining trust and avoiding legal and reputational risks in Singapore and beyond. Our conflict of interest software helps identify such situations.
The four types of conflict of interest are financial, personal, institutional, and professional. Financial conflicts arise when an individual or organisation’s financial interests interfere with their professional judgement. Personal conflicts stem from personal relationships or interests that could compromise objectivity, while institutional conflicts arise from an organisation’s interests. Professional conflicts can arise when an individual in Singapore has multiple professional obligations that may conflict with each other.
Conflict of interest occurs for an employee when their personal interests or relationships interfere with their professional duties. This can include breaching their employment contract, starting or engaging in a competing business, or having financial or personal connections with vendors, clients, or competitors in Singapore that may impact their objectivity. Identifying these situations is crucial, and our conflict of interest software provides the tools to do so effectively.
Conflict of interest checks are crucial across various fields to maintain integrity and trust. These include finance (especially in investment banking, asset management, and financial advisory), law (to avoid representing conflicting parties), healthcare (in research, patient referrals, and pharmaceutical relationships), government and public service (in procurement and policy decisions), education (in grading and research), and non-profit organisations (in board member interests and donor relations). Any sector where decisions need to be impartial and free from undue influence benefits from conflict of interest checks, often facilitated by conflict of interest software from a business intelligence agency.
The responsibility for conducting conflict of interest checks within a company can vary depending on the size and structure of the organisation. Typically, it involves several stakeholders. Human Resources departments often play a key role in initial employee onboarding and ongoing compliance. Legal and compliance teams are usually responsible for establishing policies, providing guidance, and overseeing more complex investigations. Internal audit functions may also conduct periodic reviews to ensure adherence to COI policies. In some cases, especially for senior management and board members, the responsibility may lie with a dedicated ethics committee or the board of directors itself. Implementing a robust conflict of interest software solution can significantly streamline this process and aid all responsible parties in effectively identifying and managing potential conflicts.
We hope you have found the FAQ useful. If your questions are not addressed here, please do not hesitate to reach us at enquiries@handshakes.ai and our consultants will be glad to assist you further.
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