An appropriate fate — Ocean Bank fined $11 million for poor controls in latest fraud case
As my grade 11 accounting teacher used to say, “It all comes out in the wash!” And he was right. Sooner or later, things have a way of “righting” themselves. When you’re in a tough situation and life doesn’t seem fair, this statement is not always easy to believe. But in my experience, somehow, in [Read More...]
KYC – isn’t it about time banks apply this well known process to the online channel?
KYC or Know Your Customer is a very familiar term within banking; all aspects, sectors and people involved in banking from local branch employees right to the top dogs. Banks, investment firms, mortgage and loan companies all apply KYC policies, procedures and technologies to ensure they know who they are dealing with to help protect [Read More...]