The Importance of ESG: A Path to Sustainable Business Practices

ESG stands for the three sustainability criteria—environment, social, and governance—and refers to the sustainability criteria that companies should take into account in their business activities. The “E” stands for “environment,” which means protecting the environment and the climate and making the best use of resources. The “S” stands for “social,” and it refers to things […]

Why are business ethics and a code of conduct so essential? How can a company avoid empty promises and uphold its code of conduct?

What is business ethics? Business ethics refers to the principles and standards that guide the behaviour of individuals and organizations in the business world. These principles and standards can include values such as honesty, integrity, fairness, and respect for the law. What does business ethics do? Consider business ethics as a company’s “moral compass” or […]

Who should be liable if you are prosecuted for non-compliance? Your technology provider, or yourself? What about the importance of data quality in view of vetting?

When I’m using technology for KYB vetting, am I free from liability? Can I hold the technology provider responsible if I’m penalised or prosecuted? You shouldn’t rely on the technology provider to be responsible for your actions.  When you use technology for Know Your Business vetting, you are still liable.  Technology is there solely to […]

What do you need to know if you’ve screened your business partners, employees, or job applicants and found a match? How do you evaluate a match’s risk?

I’ve already screened my business partners. Why do I also need to screen employees and job applicants? Business partners are vital to your success, but they aren’t the only element. Employees at any level can have complicated backgrounds that expose your business to risk. Screening reveals liabilities like sanctions, reputation risks, and politically exposed persons […]

How can identifying and screening UBO protect your company?

What is a UBO? UBO stands for “ultimate beneficial owner.” This is the person who ultimately controls the company and benefits from the company’s activities. What kind of information can I learn from identifying a company’s UBO? Knowing a company’s UBO can tell you a lot about its ownership structure, management, and business operations. It […]

The EU AML Directive regulations, and distinctions between KYB and KYC: All You Need to Know

Klaus Burkart, co-founder and COO of Cargodian GmbH, talks about the European Anti-Money Laundering Directive (AMLD), its impact on EU enterprises, why firms should implement AMLD compliance, and the distinctions between KYB and KYC in this Q&A session.  Can you explain the European Anti-Money Laundering Directive in simple terms? The European Anti-Money Laundering Directive, or […]

Why The AMLD (KYB, KYC) Does Matter For Your Business Now

If your company operates within a member state of the European Union, you are already experienced in navigating the regulations implemented under the European Anti-Money Laundering directive (AMLD) guidance. The European Parliament regularly issues these directives to keep abreast of emerging money laundering and terrorism financing threats, but 6AMLD—published in June of 2021—is the most ambitious set […]

Why Customer Due Diligence Does Matter For Your Business Now: Sanctions And Embargoes

Germany is one of the many countries in the European Union and around the world that has enacted sanctions against Russia in response to military activity in Ukraine. In September, Germany even circulated a proposal to prohibit financing to metal and rare-earth Russian mines, ban uranium imports from Russia, bar the export of the special […]