What Is Know Your Business (KYB)?
Key Takeaways: Know Your Business (KYB) is the process businesses undertake to verify the legitimacy and identity of other businesses they interact with. This helps prevent money laundering, fraud, and other financial crimes Many regulations require businesses to perform KYC checks on their partners. KYB helps businesses comply with these regulations and avoid financial penalties. […]
Blockchain Regulatory Certainty Act: Fostering Trust in the Industry
The blockchain landscape is evolving quickly, with new applications and technologies being developed daily. As the industry grows, the need for clear regulations becomes more critical than ever. To meet this need, the Blockchain Regulatory Certainty Act has been proposed, aiming to provide a more robust framework for blockchain and cryptocurrency technologies in the future. […]
Navigating CPRA: Challenges and Solutions for Businesses
The CPRA’s impact is two-fold, like a coin with two sides. On one side, consumers are rejoicing over the increased privacy protections. Conversely, companies and large businesses are struggling to find solutions to stay compliant while ensuring their revenue stays active. The impact of the CPRA on marketing and advertising is particularly noteworthy, and the […]
What Is the Bank Secrecy Act (BSA)?
Key Takeaways: The Bank Secrecy Act (BSA), passed in 1970, is a U.S. federal law designed to prevent financial crimes such as money laundering. It requires banks and other financial institutions to report large cash transactions exceeding $10,000 and any suspicious activity that might signify money laundering or other financial crimes. The Financial Crimes Enforcement […]
