Audit, Cost of Compliance, and Risk of Non-Compliance

How do I weigh compliance costs, such as conducting comprehensive KYB vetting with UBO identification, against the risks of non-compliance? You should weigh the costs of compliance against the risks of non-compliance. While being compliant with regulations may require you to carry out a complete “Know Your Business” vetting with ultimate beneficial owner identification, the […]

Difference between reputation risks and adverse media

What are “reputation risks”?  Reputation risks are any potentially harmful effects a company’s actions, behaviors, or relationships may have on its reputation. The risks come from various sources, including negative media coverage, customer complaints, and unethical business practices. What type of impact do reputation risks have on a company? Reputation risks have the ability to […]