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Customer Due Diligence: Why and How?

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Customer-related risk assessment is highly important to any organization. That’s why companies process information from each prospective customer to maintain the needed level of organizational supervision.

Proper customer due diligence (CDD) is what institutionalizes this process. Proper CDD utilizing makes companies aware of the smallest risk and helps identify the highest risks, including fraud.

CDD is a legal requirement for businesses in the US and many other countries with EDD (Enhanced Due Diligence) required for dealing with clients from the KYC high-risk category. [Read more…] about Customer Due Diligence: Why and How?

Manufacturing industry ‘optimistic’ about post-pandemic recovery

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More than 60 percent of professionals in the UK manufacturing industry expect the sector to recover from the coronavirus pandemic and return to business as usual by mid-2021, according to a new survey by SteelScout.

However, they highlighted issues in the wider supply chain which might impact the recovery, with almost 30 percent unable to access the materials they need and 36 percent adding that it is taking longer just to receive a “winning quote”.

One key driver behind the confidence in recovery is that 62 percent of respondents reported having orders waiting to be fulfilled once lockdown rules have eased. [Read more…] about Manufacturing industry ‘optimistic’ about post-pandemic recovery

UPS to use drones to deliver medicines to retirement homes in Florida

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CVS Health Corporation and UPS subsidiary UPS Flight Forward will use drones to deliver prescription medicines from a CVS pharmacy to The Villages, Florida for the largest US retirement community, home to more than 135,000 residents.

The service will use Matternet’s M2 drone system.

Drone transport offers a fast delivery option for medicines that are time-sensitive, while supporting social-distancing efforts. Drone delivery options provide individuals with a convenient alternative to visiting a pharmacy. This program can also help prioritize the protection of healthcare workers. [Read more…] about UPS to use drones to deliver medicines to retirement homes in Florida

Chinese exporters accuse Trump of not playing by the rules

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Chinese export companies have strongly criticized President Donald Trump for deciding to increase tariffs on imports into the US by another 10 percent, bringing them up to 25 percent for hundreds of billions of dollars’ worth of manufactured goods.

Comments reported by the South China Morning Post say Chinese exporters are decrying Trump as a business “killer” who “never plays by the rules”.

One exporter, Liao Yu, who produces bags and suitcases, said: “A 25 per cent [tariff] will kill everyone.”

[Read more…] about Chinese exporters accuse Trump of not playing by the rules

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