Industries - Trade and Service Sector | FICO TONBELLER

Challenges for Companies

The financing of terrorism or money laundering does not only affect the financial industry which has already experienced stringent regulation measures over the last years. As a consequence, it has become much harder for criminals to infiltrate illegal funds into the monetary and economic circulation. Organized crime has increasingly shifted its activities to other industries.

Corruption and fraud do not only pose risks for international corporations but also reach out for small or medium-sized companies. Detected crimes also result in substantial fines. Bribery committed by sales partners, cartels and price-fixing agreements, or child labor at suppliers can substantially damage the company's reputation – irrespective of its size and industry.

Legal and statutory regulations also imply the companies' obligation to cooperate and to apply due diligence regarding their customers, partners, and suppliers. The risk-based approach creates transparency for business relations and financial transactions and prevents business with sanctioned persons, organizations, or countries. Furthermore, companies need tools to be able to identify and measure their risk exposure and to derive mitigation measures.

FICO TONBELLER software solutions minimize compliance risks, create transparency in the partner networks, increase productivity and accelerate processes.