Financial technology has made immense strides in the past decade, bringing new levels of convenience to the consumer and corporate markets. App developers are disrupting the financial industry while also supporting the anti-money laundering regulations of federal and international bodies. (more…)
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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…) -
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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
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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…)