Since the beginning of the financial services industry, unethical organizations have discovered ways to take advantage of vulnerabilities for their benefit. Although business fraud is nothing new, internet thieves are becoming more skilled at exploiting security measures as the financial system grows more decentralized. Business Fraud Types Despite its numerous variations, asset misappropriation, corruption, and […]

Running a compliance program requires conducting due diligence on your third parties. It enables you to identify hazards that could go unnoticed if third parties were expected to respond to surveys merely or self-disclose information. Due diligence reports must be compiled in such a way that every party can understand them with ease. What Exactly […]

A cryptocurrency broker is a firm that can stand as a mediator between cryptocurrency markets to facilitate the trading of these currencies. Some of the best crypto firms include coin base, binance, Kraken, etc. New crypto regulations in south Korea have really limited the operations of internal and external firms. Blocking Crypto Exchanges That Lack Permit. […]

GRC trends refer to a company's approach to managing the relationships between corporate governance policies, enterprise risk management programs, adherence to laws, and company policies. The pace of change in the commercial world is mind-boggling. Every day, new business risks emerge, including those related to supply chains, third-party suppliers, privacy concerns, operational difficulties, cyberattacks, financial instability, […]

Sanctions are the punishments given to a country due to its inability to comply with its laws, orders, and rules. They enhance behavior change in irresponsible individuals who commit these conflicts and help fulfill comprehensive peace and security. Some countries that practice this act include; North Korea, Syria, and Russia-Belarus. Russia, the most common country, […]

By confirming their clients' identities, businesses can ensure they are doing business with the right people in a regulatory environment that is always evolving. In light of this, financial regulators mandate that companies identify the ultimate beneficial owner (UBO) in transactions with customer entities. The UBO (Ultimate Beneficial Owner), who may be a natural person […]

Third-party due diligence vendors are an essential aspect of minimizing third-party vulnerability. Your firm should be sure that it deals with a respectable company with a strong reputation. Furthermore, when the risks arise, you should ensure that your third party has the procedures to reduce the underlying hazards of supplying the services or products. Failure […]

Russia's invasion of Ukraine evoked unified reactions from NATO and its allies, with member countries imposing sanctions on Russia as retaliation. Given that Russia has been linked to some of the most severe third-party cyber-attacks, including those on SolarWinds, Colonial Pipeline, and JBS Foods, the U.S. Such minor issues indicate that your third-party is exposed […]

As a company or corporation grows, it frequently finds itself in the position of requiring additional connectivity to perform its operations. At this stage, businesses must determine how to proceed, which necessitates the acquisition of third parties to assist with corporate expansion. Having third parties with business in sanctioned nations has both negative and positive […]

Human trafficking is the instance of bartering human beings for sexual slavery, forced labor, or sexual exploitation to gain money. It is the transfer of persons through threat, force, or even abduction. The whole purpose of human trafficking is to take advantage of other human beings for profit, whether material or financial. Examples of human […]