The Smithsonian Institution was founded in 1846 through a bequest from British scientist James Smithson’s estate. Smithson never visited the US, but believed in promoting knowledge. The complex includes 19 museums and nine research centers and is closed only on Christmas Day. Founded in 1846, the Smithsonian Institution is named after British scientist James Smithson. […]
A financial institution number identifies a bank or financial institution during interbank transactions. It’s part of the routing transit number and helps simplify processing transactions between banks. The number’s length and location vary by country, and it’s important to include it when paying bills online or writing paper checks. A financial institution number is a […]
Financial institutions use risk management measures and technology security to protect sensitive information and the regional economy. They also use balance sheet security to determine when to buy or create securities and network security to prevent data breaches. Third-party security firms perform vetting actions to prevent fraudulent partnerships. A financial institution is deeply involved in […]
Financial institutions undergo yearly audits to ensure compliance with laws and regulations. Preparation includes keeping records current and assigning responsibilities to employees. Directors or officers may hold meetings to monitor progress. Auditors set a date and the institution prepares accordingly. At least once a year, financial institutions, such as investment firms and banks, undergo a […]
Lending institutions offer loans to borrowers, including banks, credit unions, mortgage and payday loan companies. They charge interest and require a contract for repayment. It is important to compare rates and terms before choosing a lender. A lending institution is any type of financial organization or institution that makes loans to borrowers. There are many […]
Financial institution fraud includes check fraud and wire fraud, with criminals using various methods to obtain money. Banks and customers are turning to electronic transactions to combat check fraud, but this creates the risk of computer-assisted attacks. Wire fraud is often the result of phishing, where criminals send emails with clickable links to fake websites. […]
A financial institution bond provides insurance for banks to protect against losses caused by employee or external actions. Basic coverage includes protection for the bank’s property, items lost during transit, and losses from counterfeit money or internal sabotage. Optional coverage includes protection for unauthorized use of credit and debit cards, data loss, and loss of […]
A city official manages administrative functions, including supervising tax operations and preparing agendas for city council meetings. They are responsible for managing their support team and ensuring public bidding processes are administered correctly. Qualifications include a diploma in business administration and organizational skills. A city official is responsible for the administrative functions of the city. […]
