But when investors demand a certain level of payment for the risks of lending to a country like Italy, history shows it is incredibly difficult to persuade them to accept a lower rate of interest.

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With its New York listing, Telkom is bound by strict rules against payment of bribes, and risks losing investors as well as being slapped with fines.

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Of course, some of the alternate payment methods on the rise bring risks of their own.

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By shifting a 2013 dividend payment into 2012, a company risks having databases lower its annualized dividend growth rate for years to come.

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Strictly speaking, a pure factoring arrangement has the supplier of funds acquiring the receivables, along with all the risks of nonpayment or late payment.

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The planned payment system would be unlikely to put consumers at any greater financial risks.

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Meanwhile, a Labour backbencher, Fabian Hamilton, who has called for a windfall tax on energy companies, says the Government risks losing support if it fails to provide a one-off payment to help ease people's energy woes.

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Instead, we rely on a patchwork of authorities, largely derived from our role as a banking supervisor, as well as on moral suasion, to help ensure that the various payment and settlement systems have the necessary procedures and controls in place to manage the risks they face.

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