Types of money
Money currently exists in the form of cash and non-cash money. Cash exists in the form of coins, banknotes (credit money, bank notes) and treasury notes. Sometimes cash also includes…

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Types of bank card fraud
A lot of citizens today have a bank card - debit or credit, or both. However, bank cards are a fairly new phenomenon in Russian reality, and one hundred percent…

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Dubai Bank Services
If you are doing business in the United Arab Emirates or have registered an offshore company in the UAE free zone, then it goes without saying that you will want…

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Types of money
Money currently exists in the form of cash and non-cash money. Cash exists in the form of coins, banknotes (credit money, bank notes) and treasury notes. Sometimes cash also includes…

Continue reading →

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Know your customer: this is why banks WILL ask you awkward questions

Banks are fined hundreds of millions of dollars for insufficient customer verification. This is exactly what happened with the largest bank in Pakistan, which received a $ 225 million fine and is now forced to close a branch in New York.
In early September, Habib Bank, which is the largest in Pakistan, was sentenced in New York. According to the Department of Financial Services, the bank did not conduct sufficient customer audits that are required by New York law. The bank was fined $ 225 million for not combating money laundering and financing terrorism, for ignorance in an adequate form of reporting, and they demanded to close the branch in the city. Continue reading