In today’s digital world, financial institutions face growing challenges in safeguarding their operations and customer data. Two critical frameworks that help mitigate risks are KYC and AML. These processes work hand-in-hand to ensure businesses operate legally and that bad actors are kept at …
Preventing Fraud Articles and Interviews (tag)
Benefits of Proactive Measures in Wire Transfer Fraud Recovery
With fraud becoming an ever-looming threat in the world of financial transactions, the best thing for businesses is to apply caution. Being cautious puts you in a safe position, which is better than mitigating the effects of fraud. It is 'better safe than sorry.’ So, it's essential to understand the …
Why Should Fraud Prevention Be of High Importance for a Small Business?
There are many different types of fraud schemes that can take place in the workplace environment. As this article will present, most types of fraud schemes are designed to obtain some sort of financial gain from another party. Small businesses are particularly vulnerable to fraud. Fraud …
The State of Worldwide Fraud: What to Expect in the Coming Years
As fraud continues to be a major problem around the world, businesses and organizations are under increasing pressure to combat it. In the coming years, we can expect to see technological advancements in tools that provide functional services associated with dark web monitoring, to help identify …
4 Benefits Of OFAC Screening And ID Verification Tools
The Office of Foreign Assets Control (OFAC) is an agency in the US that specializes in financial intelligence and enforcement. It’s a part of the US Treasury Department and is known for the administration of trade and economic sanctions. They do these things in support of US objectives of foreign …
3 Ways To Find Business Scams Online
It’s essential to ensure the security of a business to avoid falling for scams and dealing with the subsequent damage to your finances and reputation. Remember, as technology continues to progress, the methods of scams have evolved as well. Your business can be a target of scam tactics if you don’t …
