Money laundering is a serious crime, and it can have devastating effects on both businesses and society as a whole. As such, it’s important for financial institutions and Fintech companies to have solid anti-money laundering (AML) best practices in place.…
In the business world, ‘Know Your Client’ (KYC) is a term used to describe the process of verifying a customer’s identity and understanding their financial dealings. KYC requirements have become more important in recent years as businesses work to protect…
For any business, customer identification is a critical process. It’s essential to ensure that you are engaging with legitimate customers who are trying to purchase your products or services while at the same time protecting yourself from fraudsters. In this…
Money laundering is a serious crime that can have devastating consequences. It involves taking illegally-sourced money and making it appear as if it were obtained from legitimate sources. Business owners need to take the necessary steps to ensure their company…
Sanctions screening is a vital control typically used by financial institutions to recognize, stop, manage and reduce financial crime risk. Businesses must undertake thorough and efficient screening in the financial crime prevention strategies to help identify those groups and organizations…
Anti-money laundering (AML) is an important part of any business framework. It involves the detection and prevention of money generated from criminal activities such as fraud, bribery, and terrorism. AML is essential for protecting your business from these types of…
Have you ever heard of OFAC screening? OFAC stands for Office of Foreign Assets Control, and it is a process used to protect companies from doing business with individuals who are potentially involved in money laundering, terrorist financing, or other…
Anti-Money Laundering (AML) name screening is a critical process for companies who must comply with government regulations to prevent money laundering and other illegal financial activities. This process helps protect businesses from the risk of fraud, identity theft, and other…
In today’s globalized world, terrorism financing is a common occurrence. Terrorism financing is the system by which terrorist organizations are able to acquire resources and move them around, allowing terrorists to carry out attacks. It is important for organizations to…
Sanction screening is a critical process for any organization that works with clients or customers. It is intended to help identify potential financial crime risk, and allows businesses to remain compliant with government regulations and other laws. But what happens…