Managing Risk in E-commerce with Routing Verification
Bank or ABA routing numbers are important in e-commerce risk management. Verifying routing numbers helps ensure that the right information is used for the right account in addition to helping make sure you get paid the first time you run the account numbers.
KYC Strategies to Prevent Fraud
For financial institutions, KYC compliance is a must. Failure to comply can have dire consequences, such as hefty fines, sanctions and negative publicity. Here are a few things you can do to safeguard your business from potential fraud and financial loss.
How FinTech Anti-Money Laundering (AML) is Helpful to These Emerging Markets
Ensuring adherence to AML is essential in allowing financial technology companies to continue innovating. Fortunately, there are services that can help new financial innovations meet Fintech compliance obligations.
OFAC Compliance for Banks: What You Need to Know
The Office of Foreign Assets Control, or OFAC, is a financial intelligence and enforcement agency within the U.S. Department of Treasury. It administers trade and economic sanctions against hostile foreign governments, terrorists, international drug traffickers, those that proliferate weapons of mass destruction, and other organizations and individuals duly identified as a threat to the national […]
Using Technology to Stop Funding of Terrorist Organizations
Technology is a key tool combatting terrorist financing. Here’s what businesses should know about the prevalence of terrorist funding, types of common terrorist funding ploys, and how tech is helping fight terrorism.
5 Rules You May Not Know for Doing Business in Canada
In recent years, Canada has developed an increasingly strong reputation as one of the best places in the world to do business. Here are five Canadian business regulations to be aware of.
What Financial Services Processors Need to Know About Account Verification
With the increased speed of the electronic payments clearing house system, banks have to work quickly to prevent fraud and maintain the integrity of the network. Fortunately, NACHA compliant account verification services can help them process consumer and business payments in high volumes.
OFAC Compliance: A Primer For Financial Professionals
OFAC is an arm of the U.S. government designed to promote U.S. policy abroad. For companies doing business in U.S. jurisdictions, failing to comply with OFAC can result in hefty penalties and public rebuke that is harmful to the company’s reputation. Fortunately, partnering with a commercial data company focused specifically on OFAC compliance can prevent violations.
5 Tips for Implementing Sanctions Screening
OFAC sanction screening is required by U.S. law. Doing so efficiently and accurately helps your business by allowing you to grow your customer base without worry. Here are some easy-to-implement strategies that improve OFAC screening procedures to reduce risk for companies.
Why You Need Integrated Account Verification for New Customer On-boarding
Integrated account verification systems can help you make sure that your customers are pleased and that employees are doing their best to serve the needs of your business. These integrated systems also make it easy to compare solutions, collect feedback and update systems with new technologies as they become available.