PYMNTS

JUNE 24, 2020

Wirecard disclosed in a statement at the time that Ernst & Young told the company that “no sufficient audit evidence could be obtained” to confirm that the funds, in fact, were really there. On June 18, news surfaced that Wirecard had delayed publication of its 2019 annual report after finding that its auditor couldn’t confirm that $2.1

eWallet 63

eWallet Agreements Enrollments Payments 63

VISTA InfoSec

SEPTEMBER 14, 2023

Conducting a Privacy Audit to Assess Data Processing When it comes to GDPR compliance, performing a privacy audit is a crucial first step (Article 47 and 58 of GDPR). To further identify the types of personal data your business collects, stores, and processes, it is important to conduct a thorough audit. Wondering how to comply?

Compliance 130

Compliance Privacy Legal Processors 130

The Payments Association

FEBRUARY 10, 2025

Partnering with regional providers, leveraging AI for fraud detection, and conducting regular audits will ensure compliance, transparency, and operational excellence. To navigate diverse vIBAN regulations, PSPs should establish a global compliance framework adaptable to local laws.

IBAN 88

IBAN AML Master Account Due Diligence 88

PYMNTS

NOVEMBER 3, 2020

The Florida FinTech says the agreement means its customers’ gold accounts “are matched by their equivalent in physical gold, which is audited and securely stored by the International Depository Services Group, a wholly-owned subsidiary of Dillon Gage.”.

Distributed Ledger Technology (DLT) 93

Distributed Ledger Technology (DLT) NOV Audit Agreements 93

PYMNTS

SEPTEMBER 15, 2020

In a letter to clients, Carmine Di Sibio pledged the accounting firm, also known as Ernst & Young , will do a better auditing job as the London-based professional services network recovers from the fallout from its role as auditor in the Wirecard scandal, the Financial Times reported.

Audit 72

Audit Agreements Mobile Payments Acquirers 72

PYMNTS

MARCH 28, 2019

Automated expense report auditing company AppZen is introducing a new spend auditing platform to analyze supplier invoices using artificial intelligence (AI).

AI 46

AI Audit Agreements Duplicate 46

The Finance Weekly

JUNE 5, 2024

In 2022, Anaplan reached a definitive agreement to be acquired by Thoma Bravo , a leading software investment firm. It also has great auditability, tracking all edits from both the front and back ends. Headquartered in San Francisco, Anaplan collaborates with over 175 partners and serves over 1,900 customers globally.

AI 130

AI Audit API Use Case 130

PYMNTS

DECEMBER 9, 2020

Before moving over to Duetsche Bank in 2018, Loetscher had previously been in charge of auditing Wirecard at EY, where he worked for over 20 years. Loetscher is one of at least two Wirecard auditors under investigation by Apas, Germany’s audit oversight body, for potentially violating professional duties. billion euros ($2,1 billion).

Accounts 60

Accounts Audit Agreements Authentication 60

PYMNTS

APRIL 1, 2020

Because it is essentially a digital ledger, every element of an agreement between a food supplier and vendor is captured on blockchain and cannot be amended without the express consent of both parties. As markets open, they’ll want to know exactly how that piece of cheese was produced, as an example.”. One is smart contracts.

Blockchain 102

Blockchain Audit Product Origination 102

PYMNTS

JUNE 18, 2019

Corporate auditing and accounting firm KPMG remains in the crosshairs of regulators in various parts of the globe. Reports in The Street on Monday (June 17) said the case stems from the SEC’s investigation into allegations that KPMG employees cheated on internal training exams and used stolen information to alter previous audits.

Audit 46

Audit Regulations Accounts Settlement 46

PYMNTS

JANUARY 22, 2019

.” In addition to automated bank account reconciliation, the solution enables professionals to identify exception items, track and transfer payments, generate documents for auditing and record cash deposits to the proper ledger.

Cash Management 73

Cash Management Reconciliation Risk Mitigation Automation 73

PYMNTS

JUNE 29, 2020

We have reached an agreement with the Finance Ministry to terminate the contract,” a Justice Ministry official told Reuters. German regulators have faced accusations that they failed to adequately supervise Wirecard, which has been audited by Ernst & Young , the Times reported. FREP declined to comment.

Regs 88

Regs Accounts Regulations Authorization 88

The Payments Association

DECEMBER 16, 2024

At the time of the agreement, the exchange rate is 1 EUR = 1.10 Internal Controls and Audits Strong internal controls are essential for efficient and compliant FX processes. Audits of FX practices help identify areas for improvement and ensure alignment with best practices. USD, costing Company A $1.1 USD, the cost rises to $1.2

International Payments 88

International Payments Risk Payments Strategy Multi-Currency 88

PYMNTS

JANUARY 26, 2021

We're allowing them to ask specific questions for their compliance audit needs,” he said, noting iLobby has relationships with one-fifth of the Fortune 500. We're allowing them to ask questions, like COVID questionnaires today, ‘Do you have any symptoms?’

Posting 116

Posting Automation Best Practices Compliance 116

EBizCharge

JANUARY 16, 2025

It also aids in matching transactions to specific accounts during financial audits. Check your merchant agreement: Your merchant agreement contains detailed information about your payment processing arrangement, including the MCC.

Credit Cards 52

Credit Cards Processors PCI DSS Fraud Detection 52

PYMNTS

JUNE 22, 2020

Bloomberg noted that there has not been a final decision by the Chinese bank, and reports state that most of the banks are eyeing extending the lending agreement. . Because Wirecard did not release its audited annual results (for 2019) last week, the loans could be called in.

Audit 77

Audit Central Bank Agreements Accounts 77

PYMNTS

JANUARY 2, 2020

The Big Four auditing firms have also recently requested that the Financial Accounting Standards Board (FASB) provide clarity in how corporates should classify their reverse factoring or supply chain financing agreements, adding more fuel to a long-standing debate as to whether such trade financing tools are considered debt.

AI 71

AI Rules Audit Accounts 71

FICO

OCTOBER 26, 2017

This process was completed in February 2014 with an agreement on a common reporting format between IRS and OECD (Organization for Economic Co-operation and Development), FATCA reporting Form 8966. This process has to be audit-proof. The approach is based on bi-lateral agreements between two countries.

Compliance 53

Compliance IRS Agreements Audit 53

FICO

JANUARY 23, 2018

They have done this to enhance their ability to select the most effective collection and audit cases. By deploying mathematically-derived predictive models across historical data and current tax filings, they can segment taxpayers into different collection strategies and select some for audit. Changing the mix of contact methods (e.g.,

Audit 51

Audit Compliance Assessments Governance 51

PYMNTS

MARCH 15, 2019

The publication said Patriot National’s plans to acquire the SBA lending business of Hana Financial, announced last year, have hit a snag from the Office of the Comptroller of the Currency, which signed a formal agreement that sees the OCC requiring Patriot to make changes in board oversight and auditing processes.

Office of the Comptroller of the Currency 55

Office of the Comptroller of the Currency Community Banks OCC Small Business 55

Neopay

NOVEMBER 25, 2024

Annual safeguarding audits conducted by an external auditor, with findings submitted to the FCA. Engage with auditors : Annual safeguarding audits and regular reporting will demand collaboration with third-party auditors and regulators. Firms will need to ensure they are audit-ready throughout the year.

Consumer Protection 52

Consumer Protection Consumer Audit Compliance 52

The Payments Association

OCTOBER 23, 2024

Enhanced reconciliation, audit, and reporting requirements will create additional administrative burdens and could increase the risk of supervisory and enforcement action. Firms with agents or distributors may require additional liquidity for safeguarding. Firms may be required to diversify their safeguarding providers.

Rules 88

Rules Payments Institute Authorization Reconciliation 88

PYMNTS

JANUARY 9, 2019

Neiman Marcus also has to obtain an information security assessment and report from a third party, as well as detail all corrective actions it has taken or plans to take because of the security audit.

Breach 63

Breach Data Breach Settlement Payments 63

Segpay

JANUARY 26, 2024

A - Audit Your Affiliates It only takes one bad merchant to take down an entire payment processor or bank, so knowing who you work with is essential. The agency’s sample agreement with the content creator would be good to have in your own file.

Best Practices 105

Best Practices Push-to-Card Processors Due Diligence 105

PYMNTS

JANUARY 2, 2020

In Australia, a new debate has surfaced about the impact supply chain finance has on corporate finances, and whether auditors should be held responsible for disclosing a client’s outstanding reverse factoring agreements. Reverse Factoring, Auditing Scrutinized. High-profile corporate collapses, including that of U.K.

Audit 52

Audit Finance Small Business Accounts 52

Stax

MARCH 4, 2025

In addition, maintain a record of invoices, shipping confirmations, and customer agreements to challenge fraudulent chargebacks. Enable real-time data syncing for seamless tracking and regularly audit your payment reports to catch any discrepancies early. Always go for a unified payment system with omni-channel support.

Credit Cards 88

Credit Cards Payment APIs and Integration Payment Gateways Gateways 88

Stax

JANUARY 8, 2024

To establish an effective risk management program as a PayFac, you must establish a dedicated risk management team, utilize the right tools and technology, develop proper risk management policies and procedures, conduct regular risk audits, and stay up-to-date with the latest industry regulations.

Risk Management 88

Risk Management Risk Money Laundering Procedures 88

Fintech Finance

OCTOBER 11, 2024

Strengthened oversight structure and accountability across all three lines of defense, starting at the front lines and carrying through to risk management and audit teams. The Bank and certain of its U.S. Established a dedicated committee at the U.S. boards for AML / BSA oversight.

AML 98

AML BSA Money Laundering Financial Crimes 98

FICO

DECEMBER 10, 2020

So, more work is needed to enforce and audit ethical AI usage, as 67% of AI leaders don't monitor their models to ensure continued accuracy and ethical treatment. Under pressure for production-quality algorithms, they will take a lifecycle approach to building Responsible AI models that can be audited, monitored and governed.

AI 98

AI Fraud Detection Payment APIs and Integration On-Demand 98

Nanonets

NOVEMBER 14, 2023

It is used when there is a pre-established contract or agreement with the supplier regarding the price of the goods. Rules for Self-invoicing The adoption of self-invoicing entails adherence to a set of rules to ensure a smooth and compliant financial processes: Legal Validity: Every self-billing agreement must stand on solid legal ground.

Agreements 52

Agreements Disputes Compliance Legal 52

PYMNTS

JUNE 26, 2020

Mastercard and Visa are considering ending their agreements with Wirecard to process payments on their networks as the German financial technology company’s accounting scandal unravels, Bloomberg reported.

Visa 101

Visa Accounts Request for Comment Payment Networks 101

PYMNTS

JUNE 15, 2017

IBM Watson can manage and analyze unstructured data and natural language; APEX Analytix offered the example of off-contract price agreements that can be found “buried in emails.” With the IBM Watson integration, that information can be found and incorporated into pricing audits.

AI 56

AI P2P Audit Agreements 56

FICO

SEPTEMBER 14, 2017

Smart Phone App for Payments and Payment Agreements. Apps can provide taxpayers with their balance and facilitate payments or enter payment agreements. Desk Audit. Audits are typically conducted using US Mail and the telephone. Initial contact. Automated contacts.

Governance 61

Governance Government Automation Returns 61

The Fintech Times

MAY 6, 2024

This is due to risk management, record keeping and auditing regulations. In short, firms can take part so long as they meet certain criteria: they are evaluated within a framework of financing agreements and consumer credit agreements. In Turkey, however, there are more general regulations in place.

Innovation 64

Innovation FinTech BNPL Regulations 64

PYMNTS

JANUARY 25, 2019

Steve Barber, AA audit committee chair, said that in cases like those seen at the cake firm, such activity would be hard to find. As has been reported, the audit landscape in the U.K. is dominated by four firms, among them KPMG, Deloitte, EY and PwC. Separately, but also in the U.K., and tied to a case stretching back years, City A.M.

Payroll 51

Payroll Audit Direct Deposit Scams 51

Nanonets

NOVEMBER 22, 2023

Use Global Food Safety Initiative (GFSI) : Leverage GFSI extensively and establish contracts and import protocol agreements. When onboarding a new supplier facility, ensure they sign an import agreement in addition to the standard contracts. These can be conducted internally or can engage third-party auditors to ensure compliance.

Best Practices 52

Best Practices Compliance Automation Audit 52

PYMNTS

JANUARY 17, 2020

An agreement was reached for Sezzle to pay back Californians $282,000 for fees it charged in the past. California allowed Sezzle to have its license after all once the company agreed to state regulatory oversight, audits and examinations. In response, Sezzle’s shares fell about 40 percent, to about $131.

BNPL 52

BNPL Audit Agreements Continuity 52