Sanctions: How to Mitigate the Risk of Non-Compliance
Sanctions are restrictions imposed by countries or governments on others to achieve specific goals without using force. Implementing an effective sanctions compliance program is crucial as the consequences for non-compliance can result in severe penalties and reputational damage. The Office of Foreign Assets Control (OFAC) suggests five key elements for such a program: 1. Senior […]
Mitigating the Risks in the Payments Industry
Risks in the Payment Industry The payment industry is facing various types of risks, including: Card skimming: This is a type of fraud where criminals attach a device to a card reader, such as an ATM or a point-of-sale terminal, to capture card information. They can then use this information to make fraudulent transactions […]
