Cryptocurrency markets experienced a series of disastrous setbacks in 2022 which resulted in significant losses This great turmoil underscores the volatility risks in the crypto landscape. Regulators are also ramping up its enforcement efforts to protect consumers and address increasing illicit activities. As an aggressive government crackdown is anticipated in the coming months, industry participants must keep an eye on emerging developments to avoid legal pitfalls.
The Department of Justice Antitrust Division recently announced notable substantive updates to its Corporate Leniency Program which signals heightened crackdown on antitrust violators.
The Financial Crime Enforcement Network (FinCEN) is continuously expanding its efforts to streamline, modernize, and update anti-money laundering (AML) and anti-terrorism financing regulations.
With supply chain disruptions, rapidly changing compliance regulations, and rising demands for food quality, today’s food and beverage (F&B) industry must be more agile and innovative than ever before. These manufacturing challenges emphasize the importance of leveraging Enterprise Resource Planning (ERP) technology
As digital assets and distributed ledger technologies continue to develop, cybercrimes involving cryptocurrencies also worsen. From email phishing to ransomware, hackers have shifted their attacks into more pervasive and malicious forms breaking even the most sophisticated security systems. Thus, the DOJ, together with the National Cryptocurrency Enforcement Team (NCET)
In response to a prevailing view that the US was becoming a haven for money laundering, as well as emerging risks posed by advances in financial technology and the advent of virtual currencies,
With the fast-growing problem and increasingly sophisticated threats of cyber security and data breaches, litigation and other related cases continue to hound the landscape. These lawsuits have brought large numbers of damages to individuals and industries, such as consumers and financial institutions over the years.
Intended to enhance consumer privacy rights and data use transparency, the California Consumer Privacy Act (CCPA) of 2018 is regarded as the most comprehensive privacy law in the U.S. The Act, which went into effect on January 1, 2020, imposes stringent privacy requirements with significant impacts on many entities that do business with California residents.
Today’s leaders in cybersecurity continue to look for ways to protect organizations from the increasingly sophisticated cybersecurity attacks. From the antiquated belief of "trust, but verify," the security world seems to be warming up to the new principle of zero trust IT. Under the latter approach, nothing inside or outside of an organization is being trusted. The zero trust model cuts the time spent in tracking false positives, thus, enabling organizations to increase their productivity.
As the world grapples with the unprecedented economic disruptions brought by the Coronavirus Disease 2019 (COVID-19) pandemic, multinational enterprises (MNEs) in the U.S. and Canada are confronted by the added challenge of maintaining transfer pricing compliance. Most businesses are now forced to adjust their transfer prices, analysis, and documentation and revisit their force majeure clauses to look for alternative means of fulfilling their contract obligations. Thus, creating a profound strain on the operations of MNEs.
In May 2019, the US Treasury Department’s Office of Foreign Assets Control (OFAC) published a framework for OFAC compliance. The core elements of the guidance are aimed at creating a tailored risk-based strategy to ensure sanctions compliance across an organization. It also outlines five components of a compliance program and it includes an appendix identifying the root causes of compliance breakdowns and deficiencies. To mitigate risks, it is imperative for companies to assess the adequacy of their OFAC compliance programs and to tailor them to target risks relevant to the business.
Today’s businesses are significantly maximizing the potentials of cloud-based workforce mobility tools for improved productivity and more advanced workforce management. However, the increase of users, devices, and applications accessing outside the enterprise perimeter has resulted in a rise of cyberattacks and data breaches.
Manual processing of accounts payable (APs) is typically filled with time-consuming and tedious tasks, not to mention the risks of errors that can significantly impact production time, cost, and flow. To address these and other challenges within the AP workflow, companies have started to adopt automation technologies in recent years. With AP automation, organizations could optimize their AP performance through increased on-time payment rates, reduced cost-per-invoice, and early payment discounts.
Critical and emerging issues surrounding Common Reporting Standard (CRS) continue to affect global financial institutions. More and more businesses are becoming vulnerable to financial risks and disputes because of the stiffer compliance requirements as well as the complexities brought by the COVID-19.
Accounts payable (AP) automation has continuously created positive buzz across industries in recent years. Along with its upward trend is the growing prominence of electronic invoicing or e-invoicing, an effective and efficient way of extracting and validating vast volumes of invoices received daily from different sources and in varied formats. As simpler platforms, e-invoicing and AP automation help companies – big or small – to eliminate the burden of costly and laborious manual processing.
