When you conduct business online, you never get to see your end customer and that can make identity verification difficult. Bank routing numbers or ABA routing numbers are an important part of e-commerce risk management. Verifying routing numbers helps ensure that the right information is used for the right account — and the service helps make sure you get paid the first time you run the account numbers. (more…)
-
-
Jun 2018
21
> Continue Reading
KYC, or “Know Your Customer,” is a process in which financial institutions verify that their customers are who they say they are, that they’re not on any sanctions lists and that their funding sources are legitimate. (more…) -
Jun 2018
08
> Continue Reading
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 security, economy, and foreign policy of the United States. (more…) -
> Continue Reading
In recent years, Canada has developed an increasingly strong reputation as one of the best places in the world to do business. The World Economic Forum’s Global Competitive Index 2017-2018 ranks Canada as having the second-most “sound” banking system in the world, a step up from the number three position it held the previous year. U.S. News & World Report ranks Canada number seven in the world for entrepreneurship, citing well-developed infrastructure and transparent business practices as assets. High ethics and rule abidance are a top priority for Canada-based businesses and those they work with. (more…)
