As we begin the year 2020, institutions should put in place measures to determine the risk their customers pose to them. This is because, in today’s emerging risks and challenges of doing business, financial institutions...
There is no single method of laundering money; it may involve other individuals, businesses and companies. However, one constant remains: The funds need to be washed. Precious gems are often smuggled, stolen and traded in black markets in countries around the world and then used in money laundering schemes.
I once had a customer who wanted to close his bank account just because he got to know that the bank had classified his account as a Politically Exposed Person (PEP). This was because he thought the bank perceived him as a corrupt politician. After explaining the meaning of who a PEP is and why the bank classified him as such for its internal processes, he appreciated it and continued to do business with the bank.
Have you ever wondered, why there are lot of car dealership garages in Ghana and everywhere you pass in major cities in Ghana someone is selling a car? It is because there is no entry barrier and the industry is unregulated.
A friend who brought a vehicle from the USA to sell in Ghana was surprised when a potential buyer called him and offered to pay for the full cost of the vehicle in cash (which is the norm). I believe we can all relate with this practice and do not see anything wrong with it. Many will ask, “what is the big deal in this; after all the asking price for the vehicle is what the buyer is offering”. There is everything wrong with this transaction and one need to ask questions when there are suspicions.
For one to get connected and successful in life, one needs to be educated, but getting education can be very expensive and time consuming. Many have lost the opportunity to be educated because they (parents...
I used to have a client who is a professor when it comes to art, paintings and antiques. He paints one portrait and makes millions out of it and that really fascinated me so much that I started doing some research into the Art, paintings and antiques industry. I discovered that the painting industry in Ghana is very small and young but elsewhere in the world, it is a huge industry which contributes significantly to the economy of these countries. The USA economy in 2014 and 2015 benefited US$730 billion and US$763.6 billion respectively from the Art, Paintings and Antiques sector(1). US$12 billion (£9.2 billion) was contributed to the UK GDP in 2016 from the Art and Painting sector(2) with Singapore’s Art and Painting contributing S$2.13 billion to the GDP in 2013(3).
Can I use your bank account details to receive my salary or money from a friend? Can I use your accounts details to transfer money abroad? Can we use your private (personal) account details for a business transaction? I believe we are familiar with these questions and have even been victims in the past before? If yes, then you might have been a money mule and could have been jailed for helping to launder money for a criminal. Global mule networks form the primary way to siphon proceeds of crime money through the banking ecosystem in an attempt to avoid detection and capture.
As temperatures hit record highs globally, significant African populations are at increasing risk from lack of cooling access according to Sustainable Energy for All (SEforALL) report, Chilling Prospects: Tracking Sustainable Cooling for All 2019, released today.
Is using social media making people unhappy? Evidence is mounting that there is a link between social media and depression. In several recent studies, teenage and young adult users who spend the most time on Instagram, Facebook and other platforms were shown to have a substantially (from 13 to 66 percent) higher rate of reported depression than those who spent the least time.
You must forgive to cleanse your heart. You can't change the past, nobody can go back in time and avoid situations that hurt us, I am sure that many of us would like to do it to fix what we did wrong and avoid the pain, but it is impossible!
“My advice to other disabled people would be, concentrate on things your disability doesn’t prevent you doing well, and don’t regret the things it interferes with. Don’t be disabled in spirit as well as physically.” - Stephen Hawking.
Farida Nana Efua Bedwei seems to have taken Stephen Hawking's advice. Diagnosed with cerebral palsy at an early age, she has rising to become a celebrated Ghanaian software engineer. Farida is currently the Co-founder of Logiciel, a fin-tech Company in Ghana.
In 2013, Adobe conducted a comprehensive research study and found that 76% of marketers believe that marketing changed more in the past 2 years than in the previous 50. Digital technologies were changing rapidly, impacting how marketers build their strategies and market to their audiences. Today, fast digital innovation has been replaced with the strategic implementation of new technologies in marketing.
As companies scale back on expensive, benefit-heavy workforce, they're increasingly turning to outside--freelance--help. If you've got expertise in the right areas, there's a good chance you can parlay it into a freelance career by sharing your knowledge and skills with a variety of clients.
Today companies need the latest data at their fingertips, without it they limit their agility and ability to maneuver potential competition, says Alasdair Parsonson, Technical Expert at Data Intelligence for Hitachi Vantara