FICO

MARCH 11, 2020

Here are 4 best practices to fight subscription fraud. Start with a First Party Fraud (FPF) exposure assessment undertaken by reviewing across products, services and channels, identifying ownership & size of the FPF problem by department. for loss mitigation, and identifying and quickly exiting FP fraudsters .

Best Practices 52

Best Practices Identity Theft Risk Rules 52

VISTA InfoSec

FEBRUARY 13, 2024

This proactive stance enhances Singapore’s resilience against cyber threats and also serves as a model for global best practices in cybersecurity. By sharing threat intelligence and best practices, organizations can gain insights into emerging threats and learn from the experiences of others.

Cybersecurity 130

Cybersecurity Audit Best Practices Mitigation 130

VISTA InfoSec

JUNE 19, 2024

Therefore, this article explores the common cyber threats in video communication and provides strategies to mitigate them. Best Practices for Securing Video Communication Choose the Right Platform When evaluating different platforms, assess their security features comprehensively.

Risk 242

Risk Ransomware Phishing MFA 242

VISTA InfoSec

AUGUST 22, 2023

Principle of data minimization: Only the minimum amount of biometric data necessary for the intended purpose should be collected and processed, requiring careful assessment and avoidance of excess. Voiceprint: Assessment of vocal attributes such as tone, pitch, and enunciation.

Privacy 130

Privacy Compliance Legal Best Practices 130

Neopay

JULY 29, 2024

Without these defined outcomes, it is challenging to assess performance accurately. Unclear management information: Firms often struggle with identifying or accessing the necessary management information or data required for their assessments. This will provide a clear benchmark for your assessments.

Consumer 52

Consumer Assessments Compliance Best Practices 52

Innovative Payments Association

SEPTEMBER 5, 2024

To mitigate these risks and ensure proper oversight of third-party relationships, it is crucial for organizations to go beyond traditional due diligence and establish a comprehensive third-party oversight framework. While these relationships can bring numerous benefits, they also come with inherent risks.

Boot Camp 52

Boot Camp Due Diligence Third Party Vendors Compliance 52

Fintech Review

FEBRUARY 13, 2024

Consumer protection in the digital age isn’t just about enforcing rules; it’s about understanding the evolving risks and being proactive in mitigating them. Regulators play a key role in assessing and mitigating the systemic risks posed by fintech innovations.

Consumer Protection 105

Consumer Protection Innovation Consumer FinTech 105

Fintech News

APRIL 7, 2024

Their comprehensive discussion sheds light on the significance of advanced AI and fraud detection technologies, and the importance of collaborative efforts to mitigate these risks. Incorporating passive risk signals during onboarding offers another layer of assurance.

Deepfake 132

Deepfake Scams Fraud Detection Verification 132

VISTA InfoSec

FEBRUARY 16, 2024

It mandates the use of vendor-supplied security patches and secure coding practices for in-house developed applications. These measures help mitigate vulnerabilities that hackers could exploit. a: Verify that software-development processes align with industry standards/best practices. - PCI DSS v3.2.1 PCI DSS v4.0

PCI DSS 100

PCI DSS Procedures Best Practices Verification 100

Neopay

AUGUST 5, 2024

This involves identifying and mitigating risks associated with safeguarding and understanding potential threats and vulnerabilities to client assets and data. They should be equipped to challenge and assess new data, policies, or frameworks for compliance. Understanding risk management is also a crucial part of the training.

Compliance 52

Compliance Procedures Audit Risk Management 52

Stax

JANUARY 8, 2024

Common risk management strategies for PayFacs include proper merchant vetting and onboarding, transaction monitoring and fraud prevention, chargeback mitigation, KYC/AML compliance, and data breach prevention. You should also have contingency plans or initiatives in place to mitigate the impact of a risk.

Risk Management 88

Risk Management Risk Money Laundering Mitigation 88

FloQast

OCTOBER 27, 2023

Typically, compliance management will also include Identifying appropriate controls, Managing relationships with various regulators, Coordinating or responding to regulatory concerns and inquiries, and Mitigating regulatory breaches Why is Compliance Management Important? Here are some compliance management best practices worth considering.

Compliance 52

Compliance Best Practices Mitigation Procedures 52

EBizCharge

JULY 22, 2024

Risk Management: Businesses can also proactively assess and manage financial risks associated with marketing campaigns to avoid high-risk investments and ensure financial transparency and accountability, so expenditures align with company objectives. Assessing and managing these risks quickly is paramount in maintaining financial stability.

Risk Assessment 52

Risk Assessment Assessments Risk Finance 52

Seon

SEPTEMBER 20, 2024

Lenders are now focusing on alternative data signals to mitigate risk without excluding valuable customers. By staying informed about the latest trends and best practices, lenders can work toward creating safer, more efficient lending processes that benefit both their businesses and their customers.

Risk 52

Risk Fraud Prevention Deepfake Risk Management 52

Neopay

OCTOBER 3, 2024

Here’s how we can assist: Proactive risk management : We help businesses assess their current risk exposure and ensure that compliance frameworks are in place to address the challenges associated with growth, high-risk customers, and changing regulations. Training and continuous support : Compliance is an ongoing process.

Financial Crimes 59

Financial Crimes Crime Due Diligence Compliance 59

EBizCharge

APRIL 26, 2024

By implementing these best practices, you can ensure smoother operations and better financial outcomes for your business. Conduct credit risk assessments: Credit risk assessments involve analyzing factors such as the client’s financial stability, payment history, and credit score.

Accounts 52

Accounts Best Practices Disputes Procedures 52

Stax

DECEMBER 4, 2023

An effective AML compliance program must include Know Your Customer (KYC) protocols, transaction monitoring and reporting, risk assessment and categorization, and training and awareness for staff. Risk assessment and categorization The first step towards mitigating risk is to assess it.

Money Laundering 88

Money Laundering Compliance AML Due Diligence 88

Faster Payments Council

SEPTEMBER 12, 2022

Join this session to learn more about exchange framework assessments and pilot programs backed by the Business Payments Coalition (BPC), Federal Reserve and industry. RTP) looks like right now, best practices in implementation, and lessons from the market.

FPC 88

FPC Federal Reserve Cross-Border Payments Faster Payments 88

FloQast

APRIL 8, 2024

In this article, we define what a SOX material weakness is and provide actionable strategies and best practices to avoid it. Conduct regular risk assessments. Regularly assess the risk of material misstatement in financial reporting and adjust controls accordingly. What Is a Material Weakness? Regular internal audits.

Compliance 52

Compliance Audit Best Practices Risk Assessment 52

The Fintech Times

MARCH 12, 2024

The book provides solutions to mitigate these risks, such as limiting exposure through spreads. While these trades help mitigate adverse currency movements, they also can restrict access to favourable ones, prompting firms to assess the necessity of added security in advance.

Best Practices 64

Best Practices Cross-Border Cross-Border Payments Mitigation 64

Neopay

JUNE 27, 2024

It is crucial to conduct a thorough assessment of your financial position and ensure that you meet the minimum capital requirements. Risk management framework: Develop a robust risk management framework that identifies, assesses and mitigates key risks associated with your business operations.

Financial Crimes 52

Financial Crimes Money Laundering Compliance Crime 52

Segpay

MAY 1, 2024

This framework will have significant implications for global PSPs with clients in Europe, as it will require PSPs to strengthen their operational resilience capabilities, comply with regulatory requirements, and adapt their business practices to mitigate operational risks effectively.

Compliance 52

Compliance Cybersecurity Procedures Risk Management 52

The Fintech Times

MAY 15, 2024

. “To mitigate this, organisations should consult with data protection experts and keep abreast of regulatory changes and develop a more robust security strategy. This approach helps not only in avoiding legal pitfalls but also in maintaining consumer trust by upholding ethical AI practices and ensuring data integrity.

Cybersecurity 72

Cybersecurity AI Governance Government 72

Fintech News

JUNE 6, 2024

This underscores the need for more robust, multi-layered identity verification solutions that can effectively mitigate the risks of these evolving fraud tactics,” said Frederic. A notable example is the recent US$25 million scam in Hong Kong, where scammers used deepfake technology to impersonate company executives in a video call.

Scams 105

Scams Phishing Deepfake Verification 105

Seon

APRIL 11, 2024

Both departments are crucial in identifying and mitigating fraud and reducing risk, including financial, operational, legal and reputational hazards. Such cross-functional insights facilitate a more proactive and predictive approach to identifying and mitigating financial crime, ensuring that organizations stay one step ahead.

Fraud Prevention 52

Fraud Prevention AML Money Laundering Financial Crimes 52

FloQast

MARCH 1, 2024

SOX Section 203: The Corporate Responsibility for Financial Reports and Section 404: Management Assessment of Internal Controls require businesses to include an Internal Control Report with all financial reports. Step 1: Initial Assessment SOX testing begins with an initial assessment.

Audit 52

Audit Compliance Assessments Procedures 52

Nanonets

SEPTEMBER 22, 2023

Effective  vendor management  contributes to cost optimization,  risk mitigation , and quality assurance. In  clinical research ,  vendor management  involves stringent  regulatory requirements , including ICH E6 Good Clinical Practice, ISO 14155, FDA 21 CFR Part 50, and Regulation (EU) No 536/2014.

Risk Mitigation 40

Risk Mitigation Mitigation Risk Assessment Assessments 40

PYMNTS

MARCH 20, 2020

But lenders themselves, even industry incumbents, are also quickly recognizing the potential that unlocking data has not only on improving the SMB borrowing experience, but on significantly improving their own internal operations, particularly when it comes to risk mitigation. ” The U.S.’s ’s Open Banking Path.

Risk Mitigation 93

Risk Mitigation Mitigation Payment APIs and Integration Risk 93

The Fintech Times

JUNE 26, 2024

For instance, machine learning models excel in processing vast amounts of data, enabling more accurate credit assessments and risk evaluations. The BIS highlights the need for robust cybersecurity measures and vigilant risk management practices to mitigate these threats. However, with these benefits come new risks.

Central Bank 59

Central Bank Risk AI Money Laundering 59

The Fintech Times

JUNE 3, 2024

Having assessed their in-house strengths and weaknesses and developed a clear understanding of the competitive market, the next crucial move is ensuring stakeholders from C-level to operational teams are involved. This phase is core to generating shared learnings, best practices, and principles for the effective use of GenAI.

AI 69

AI Risk Mitigation Assessments Consulting 69

Stax

MARCH 4, 2024

Ultimately, PCI DSS compliance helps prevent fraudulent transactions, mitigates data breaches, cultivates customer trust and protects your business. Train your team on secure payment practices Another critical step is ensuring cybersecurity best practices and awareness is instilled across your workforce.

PCI DSS 88

PCI DSS Payment Security Security MFA 88

EBizCharge

JUNE 6, 2024

By running multiple test transactions, businesses can examine real-time data updates, assess the user experience, and ensure customer card data is handled securely. Best practices for payment processing in Dynamics 365 Having the right best practices in place for payment processing is crucial.

Credit Cards 52

Credit Cards Process Payment Gateways Gateways 52

Nanonets

APRIL 24, 2024

Through this meticulous process, businesses can mitigate the risk of errors, fraud, and legal complications, thus safeguarding their financial health and compliance.   The auditor assesses risks, identifies key areas for review, and develops an audit plan tailored to the organization's specific needs.

Reconciliation 52

Reconciliation Audit Procedures Correspondent 52

Stax

JUNE 20, 2024

Assess the program’s features and benefits, including technical support, marketing resources, and revenue-sharing models, to ensure they meet your needs. Robust security protocols and adherence to regulatory frameworks instill trust in customers, mitigating risks of data breaches and regulatory non-compliance.

ISVS 88

ISVS Payment APIs and Integration Compliance API 88

EBizCharge

APRIL 23, 2024

Here are five components to assess before choosing your payment terms: Cash flow management: Strong cash flow is the lifeblood of a business, enabling it to meet financial obligations such as payroll and supplier invoices. Therefore, enforcing common payment terms (Net 30, Net 60, etc.)

Payments 52

Payments Best Practices Settlement Assessments 52

Nanonets

MAY 7, 2024

Through this guide, we will define what expense reconciliation is, explore its significance to companies, the formal methods of going about it, as well as the challenges and best practices involved. Without sufficient resources and support, organisations may struggle to implement best practices and adopt automation solutions.

Reconciliation 52

Reconciliation Best Practices Compliance Credit Cards 52

Nanonets

MAY 31, 2023

AI can help mitigate these issues. This empowers finance professionals to make informed decisions about budgeting, cash flow management, investment opportunities, and risk mitigation. Assess data readiness Evaluate the quality, accessibility, and relevance of your financial data.

AI 122

AI Finance Fraud Detection Mitigation 122