I’m sure you agree with us that it’s good to live in a free society that can fight back when necessary. Sinister people of all kinds need to be fought, everyone agrees on that, too. But the comfort ends sooner than you think. Because the fight against terrorists and other criminals is not just taking place in a faraway war against IS, but in the middle of German offices and companies. That’s where the task forces of the German Federal Financial Supervisory Authority (BaFin) – i.e. auditors – march in, day in, day out, without notification and with sometimes dramatic consequences – from hefty fines and massive image damage to the loss of a license, i.e. the end of operations.
Such a scenario can affect almost anyone, even without malicious intent or disguised mafia godfathers in the company. All it takes is for an employee at the front desk to unknowingly serve the wrong customer, or for an overburdened software program to incorrectly identify someone. If you have unknowingly accepted a customer who is on the relevant anti-money laundering or anti-terrorism lists, then danger is imminent. However, there is a proven remedy against the stress of permanently checking all clients against all relevant lists: the right software.
TOLERANT Sanction helps you to check the data of your business partners according to all relevant regulations – according to German and EU law as well as with regard to US and UN requirements.
In this respect, we can then resist the dark forces out there with relative ease – through tried and tested information processing tools. Their serviceability and function is what we are talking about here. Enjoy reading!
This post is also available in DE.