compliance

19 Jul

Stay Compliant, Mitigate Risks: Understanding AML/KYC as a technologist

stp2y0 CommentsNewscoding, community, compliance, defi, development, engineering, finance, inclusive, software, webdev

Effective Anti-Money Laundering (AML) and Know Your Customer (KYC) strategies and processes are essential for financial institutions and other regulated entities. The regulatory landscape is rich with laws and enforcing agencies and organizations. As a software engineer, understanding these laws and requirements is crucial for implementing effectively compliant systems, safeguarding your organization from excessive regulatory auditing and penalization (including potentially steep fines). Key Activities Customer Due Diligence Intended to verify customer identities and assess their risk profiles, Customer Due Diligence (CDD) is critical to effective AML strategies. CDD employs systems and software providing for (1) identity verification and (2) risk…

28 Jun

The Role of Independent Contractors in Government Projects Advantages Challenges and Best Practices

stp2y0 CommentsNewscoding, community, compliance, contractormanagement, development, engineering, governmentcontracting, inclusive, independentcontractors, software

Government contracting presents numerous opportunities and a dynamic environment for independent contractors. As public sector projects grow increasingly complex, government agencies often turn to independent contractors for their specialized skills and flexibility. This article delves into the advantages and challenges of using independent contractors in government projects, along with compliance considerations and tips for managing contractor relationships effectively. Advantages of Using Independent Contractors 1. Specialized Expertise Independent contractors often possess highly specialized skills that can be indispensable for certain government projects. From IT and cybersecurity to engineering and consultancy, these experts bring critical knowledge and experience that might not be…