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 […]

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 […]

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 […]

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 […]