Arbitration cases and due diligence can have different connections, with criminal law implications on the background. Sometimes arbitral tribunals determine whether an investor has exercised due diligence in light of certain circumstances, that may have criminal relevance. Sometimes it is the other way round: before performing a transaction, the companies involved carry out a due diligence, which leads to the discovery of warning signs from a criminal law perspective and, consequently, to a claim to be managed through an arbitration. Time is often a key factor: red flags in terms of prevention or prosecution of potential frauds shall be taken into account within proper timeframes for both criminal and arbitration cases. How all these tricky situations can be properly faced from both an arbitration and a criminal law perspective?