Posts by Laurie Nelson

  1. Managing Risk ECommerce Routing Verification thumbnailWhen 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…)

    > Continue Reading
  2. KYC Strategies Prevent Fraud thumbnailKYC, 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…)

    > Continue Reading
  3. OFAC Compliance for Banks: What You Need to KnowThe 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
  4. 5 Rules You May Not Know for Doing Business in CanadaIn 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…)

    > Continue Reading

Ready to start reducing your returns and ensure compliance?