This paper discusses the nature and importance of financial and trade sanctions and sanctions screening. Sanctions are measures implemented by governments to restrict or prohibit trade with parties involved in illegal activities, while sanctions screening is a process that detects potential matches between organizational operations and global sanctions lists. Despite its simplicity, sanctions screening is complicated by multiple variables such as international languages, culture, spelling, aliases, and technological limitations.
The white paper presents a comprehensive look into the impact of fraud on organizations, and the benefits of controls automation. It highlights the growing problem of internal and occupational fraud, using Amazon‘s $9.4 Million fraud case as an illustrative example. The paper underscores the need for more stringent controls and automation, offering insights into the driving factors for automation, and the tangible and intangible returns on investment.
Does your audit and internal control program run at the speed of business?
remQ offers innovative business transaction monitoring and auditing software with built-in expert know-how. 100++ controls and reports work out of the box when the software is installed and cover business areas such as procurement, order-to-cash, accounting, and inventory. Our software helps customers automate their SAP systems' controls, making systems and business processes more secure and less expensive.
