Video: IRS Form W-8 Expiration Date Tracker
You know W-8s expire, right? Here’s help tracking your foreign vendors’ W-8x forms’ expiration dates so you know when to collect updated forms and remain in compliance with IRS rules.
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Video: Create a Vendor Authentication Matrix
Fraud Prevention You receive a request to change remittance information from the vendor. Is that really the vendor? Combat business email compromise, deepfakes, and other fraud tactics by creating a reference to authenticate incoming email and telephone requests – especially if you are still working remotely. Click here to view or download slides. Click below…
An OFAC Case Study
On November 25, 2019, Apple Inc. entered an agreement with the U.S. Department of Treasury to pay a civil penalty of $466,912. The fine is to settle the technology giant’s violations of the Foreign Narcotics Kingpin Sanctions resulting from its interactions with a Slovenian company SIS and its owner Savo Stjepanovic, both on the SDN list. How…
OFAC-Issued Guidance: A Sanctions Compliance Framework
If you are mystified by your company’s compliance responsibilities related to sanctions, there is help. In 2019 the Department of Treasury’s Office of Foreign Assets Control (OFAC) published new guidance on how to create a framework for an effective sanctions-compliance program. It can help you comply. And if you should inadvertently run afoul of the…
The VMF, Vendor Onboarding and the P2P Process
Procure-to-pay—also called purchase-to-pay or source-to-settle—refers to the entire process of procuring goods and services from start to finish. The process begins with identification of need and continues through final settlement. To maximize effectiveness and efficiency, organizations must take a holistic view of the entire process. The end-to-end process cuts across organizations’ departmental structures. Traditionally the…
Video: Techniques to Keep Your Vendor Data Up-To-Date
Learn best practices to obtain accurate or missing data from your vendors to prevent fraud, returned payments and duplicate vendors. How to follow-up with your vendors to find missing data or accurate data following the vendor master file clean-up. That is different from how to find your vendors missing data. Click here to view or…
A Classic Case of Vendor Email Compromise
Criminals are compromising emails to steal money from businesses, governments and institutions. Any organization can be a target: businesses of any size, health care organizations, education, and local and state governments. Recent headline cases include Ubiquiti Networks, Toyota Boshoku Corporation, and Scoular Company. And the U.S. territory Puerto Rico offers a classic vendor email compromise…