Tipalti
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    • Accounts Payable AutomationEnd-to-end, invoice-based payments designed for growing companies
      • Supplier Management IconSupplier Management
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      • Payment Reconciliation IconPayment Reconciliation
    • Purchase Order ManagementControl and visibility over corporate spend
    • Global Partner PaymentsScalable payment solutions for creator, ad tech, sharing and marketplaces economy
      • Supplier Management IconPartner Management
      • Global Payouts IconGlobal Payments
      • Fraud Detection IconFraud Detection
      • Self Billing IconSelf-Billing Module
      • Tax Compliant IconTax and VAT Compliance
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    • Overview
      • The Tipalti PlatformGlobal, scalable, and fully automated
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      • Multi Entity IconMulti-Entity Architecture
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  • Why Tipalti
    • Overview
      • Why TipaltiA modern, holistic, powerful payables solution that scales with your changing business needs
      • Customer StoriesSee how we transform finance operations
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Risk and AML Regulatory Compliance 1

AML Compliance

Like it or not, fraudsters exist and may attempt to elicit an illegal payment. In some cases, they’re laundering money for nefarious reasons (e.g. terrorism, human trafficking, smuggling). In other cases, they may have been valid partners at some point who now just “game the system” and take advantage of performance payment holes, such as affiliate commission bonuses. Either way, exacting a transaction may be illegal directly resulting in fines and prison or it may eat into profitability and corrupt a company’s reputation.

Trying to preempt fraud and strengthen partner and supplier transactions is almost an afterthought for most companies. Often, payers rely on banking institutions to conduct any necessary screenings. However, risk management and compliance can be shored up before funds even get out.

Risk and AML Regulatory Compliance 2

Screen Transactions and Identify Fraudsters

Tipalti reduces risk by proactively screening payees on national blacklists (e.g. OFAC, EU, HMC) and can help identify and block fraudsters who may be concealing their true identity. The Tipalti RMM (Risk Management Module) identifies and prevents potential ongoing fraud by a rogue supplier or partner when they’ve been blocked, preventing them from creating new accounts.

  • Screen payees against national blacklists (e.g. OFAC, EU, HMC)
  • Ongoing transaction screening aids in identifying fraudsters even after initial screening
  • Block or suspend payees from receiving payments
  • Identify blocked or suspended payees trying to create multiple accounts
  • Be notified of suspicious payees from other Tipalti customers by being a part of the RMM Network

OFAC, AML, Anti-Terror, Anti-Narcotics Compliance

Tipalti automatically scans all supplier payee records before executing every payment cycle. This ensures that every payment is checked for legitimacy and legality. Among the databases scanned is the US Treasury Department’s Office of Foreign Assets Control (OFAC) SDN (Specially Designated Nationals) List. These are known bad actors and sanctioned entities that are involved in terrorism, money laundering, arms dealing, drug traffickers, and cyberterrorists.

In addition, Tipalti maintains an internal risk network that payees are also checked against which include reportedly bad accounts based on the experience of our customers.

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Solutions

  • Accounts Payable Automation
  • Global Partner Payments
  • PO Management

Capabilities

  • Overview
  • Supplier Management
  • Invoice Management
  • PO Matching
  • Self-Billing Module
  • Payment Reconciliation
  • Global Payments
  • Fraud Detection
  • Tax and VAT Compliance

Why Tipalti

  • Why Tipalti
  • Customer Stories
  • Invoice-Based Workflow
  • Performance-Based Workflow
  • Benefits by Role
  • Benefits by Industry
  • Bill.com Alternative

Technology

  • The Tipalti Platform
  • Multi-Entity Architecture
  • Financial Controls
  • Payment API
  • Secure Cloud
  • Money Services Business
  • Pi Payables Intelligence

Resources

  • The Financial Advisor Blog
  • What is AP Automation?
  • Compare Payment Methods
  • Future of Finance
  • Destination IPO
  • Payments Across Borders
  • The Total Guide to ERP Integration
  • Cost Per Invoice Calculator
  • Payment Error Calculator

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  • About Tipalti
  • Careers
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    • United Kingdom
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