Standards and Policy Recommendations for FOCI Screening

This document is a guide that outlines standards and policy recommendations for screening Foreign Ownership, Control, or Influence (FOCI) risks, particularly in the context of the US Defense Industrial Base (DIB). It presents actionable recommendations based on discussions held during a Convergence event hosted by Quantifind and Deloitte, which involved various stakeholders from sectors such as banking, government, and technology. The guide emphasizes the necessity for clear definitions of FOCI to support objective screening processes, the automation of detection workflows to manage the complexity of threats, and the establishment of incentives and regulations to ensure compliance and active participation in national security initiatives. The document details the threats posed by FOCI, including espionage and supply chain vulnerabilities, and identifies the responsibilities of various stakeholders involved in oversight and screening. It also proposes a relationship-based risk framework and a tiered approach to risk assessment, aiming to enhance collaboration between different sectors in addressing adversarial capital.