The effortless way to ensure OFAC SDN sanctions compliance There are dire consequences for organizations that do business with bad actors. Paying a supplier, person or party that is on the sanctions list of the Office of Foreign Assets Control (OFAC) of the U.S.Treasury Department could result in millions of dollars in monetary fines. Office … Automated OFAC Screening
There’s a lot at stake when it comes to vendor onboarding. One slip-up can result in major fraud and compliance issues or strained vendor relationships. But many organizations are putting themselves and their vendor relationships at risk by relying on manual processes for onboarding suppliers. Finance and procurement teams waste lots of time … Secure Vendor Onboarding
Validating bank account ownership is a critical part of the vendor onboarding process. After all, every organization wants to be sure that it is paying the right supplier or individual. But most organizations still rely on manual processes for authenticating bank account ownership. Many organizations collect bank account details from suppliers through unsecure emails. Some … Automated Bank Account Verification
