Balancing Customer Service & KYC Authentication Requirements
KYC, or “Know Your Customer,” refers to the due diligence processes used to verify customers’ identities. KYC is completed not only when a company is first introduced to a customer, but also during various times throughout the customer/company relationship. Financial institutions use various KYC strategies as part of their required effort to ensure that none […]
How to Stay OFAC Compliant
The Office of Foreign Assets Control, or OFAC, is a financial intelligence and enforcement agency within the U.S. Department of Treasury’s Terrorism and Financial Intelligence division (TFI). It administers trade and economic sanctions against organizations and individuals identified as a threat to the national security, economy, and foreign policy of the United States. In conjunction […]
Lyons Commercial Data to Host Complimentary Webinar on Best Practices for ACH Compliance
JACKSONVILLE, FL – October 1, 2018 – Lyons Commercial Data, a leading provider of U.S. financial institution data and risk management solutions, will host a complimentary webinar covering best practices for achieving and maintaining ACH compliance. Laurie Nelson, General Counsel & Chief Compliance Officer, and Trevor Ward, General Manager, at Lyons Commercial Data, will walk […]
Lyons Commercial Data to Host Complimentary Webinar on Same Day ACH
JACKSONVILLE, FL – July 23, 2018 – Lyons Commercial Data, a leading provider of U.S. financial institution data and risk management solutions, will host a complimentary webinar on same day ACH compliance. Laurie Nelson, General Counsel & Chief Compliance Officer at Lyons Commercial Data, will walk participants through defining and understanding same day ACH, steps […]
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.