Phil Binkow

Phil Binkow CEO TAPNPhil Binkow is Founder and CEO of Financial Operations Networks (FON).  FON focuses on accounts payable and vendor service software applications with its automated InvoiceInfo invoice-status tracking and vendor on-boarding software-as-a-service. In 2002, FON founded The Accounts Payable Network (TAPN) and The Accounts Receivable Network (TARN), leading educational resources for executives with financial management responsibility.  Prior to starting Financial Operations Networks, Mr. Binkow founded and served as CEO of PayTECH, an electronic payables processing, disbursements and information services provider serving Fortune 500 and other companies.  He holds a B.A. in Economics from Stetson University and an M.B.A. in Operations Management from the University of Florida. Mr. Binkow can be reached at [email protected].

Despite Multimillion-Dollar Federal Penalties for OFAC and Other Sanctions Violations, Corporate Finance Departments Still Fail to Implement Simple Protections. Why?

The U.S. Treasury regularly fines businesses for transacting with entities on OFAC sanctions lists. Though evidence shows most corporate financial departments fail to check their buyers and sellers rigorously against these lists, several easy, inexpensive approaches are available for accomplishing this task, thus increasing compliance and avoiding the threat of stiff penalties.

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