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risk management (2)

IRS Faces a Kobayashi Maru Situation: Technology Has an answer

The Internal Revenue Service (IRS) is facing a real-life Kobayashi Maru, a catch-22 situation from Star Trek where there seems to be no way out. Tasked with the immense responsibility of distributing funds to pandemic-affected businesses through...

PPP is Not a Free Lunch for Banks

During the post-prohibition era in the 1930s, bars offered free lunches to their patrons to get them to buy drinks. 40 years later, Milton Friedman famously summed up the study of economics with the quip – “There is no such thing as a free lunch” or...

Treasury's Strategy 2020 - A Risk-based Approach to AML

Last week, the US Department of Treasury published its 2020 Strategy document that "employs a whole-of-government approach to guide the public and private sectors in addressing 21st century illicit finance challenges."  The report highlights the ...