VISTA InfoSec

FEBRUARY 25, 2024

You may face legal/regulatory penalties for violating disclosure laws. Best Practices For Prevention Ultimately, consistent vigilance and proactive security safeguards offer the best breach protections. Conduct audits periodically post-partnership.

Data Breach 223

Data Breach Breach Multifactor Authentication Cybersecurity 223

VISTA InfoSec

JUNE 26, 2024

This preparedness includes implementing advanced security technologies, conducting regular security audits, and training employees on cybersecurity best practices. Companies with strong cybersecurity risk management have the resilience to maintain business continuity. 5 / 5 ( 1 vote )

Cybersecurity 215

Cybersecurity Due Diligence Security Risk Management 215

VISTA InfoSec

MAY 2, 2024

Providers arm themselves with the latest security tech and best practices to shield your data from cyber threats. Regular audits and updates ensure your systems comply with industry regulations, offering you peace of mind and protecting your critical business information.

Cybersecurity 130

Cybersecurity Legal Compliance Best Practices 130

VISTA InfoSec

JULY 17, 2024

Navigate legal and regulatory frameworks Dealing with laws and rules about cybersecurity in different countries is a must. Each of these sets its own rules on handling personal information safely and legally. Outline regular audit processes to check compliance with these policies.

Cybersecurity 186

Cybersecurity Compliance Encryption Best Practices 186

Neopay

AUGUST 5, 2024

Furthermore, procedures for reporting safeguarding issues and understanding the legal and regulatory implications of non-compliance should be part of the training. Detailed records of all safeguarding training should be maintained for audit purposes.

Compliance 52

Compliance Procedures Audit Risk Management 52

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. Those processes we employ are also best practices for merchants to apply to their business partners. Want to learn more?

Best Practices 103

Best Practices Push-to-Card Processors Due Diligence 103

FloQast

APRIL 8, 2024

Addressing material weaknesses is not just a legal requirement but a cornerstone of corporate governance and ensuring investor confidence, no matter the company size. In this article, we define what a SOX material weakness is and provide actionable strategies and best practices to avoid it. Regular internal audits.

Compliance 52

Compliance Audit Best Practices Risk Assessment 52

Nanonets

SEPTEMBER 25, 2024

We'll also guide you through setting up an efficient bank statement processing system and share best practices to transform this data flood into a strategic asset.   Bank statement processing is essential for accurate reconciliation , auditing, and financial reporting. 💡 Best practices:  1.

AI 52

AI Process Best Practices Reconciliation 52

Stax

AUGUST 22, 2024

It can also help to teach them about best practices they can follow to prevent fraudulent transactions. Regulatory compliance failure can have a negative impact on reputation, large fines, and even legal action. Additionally, you need to conduct regular compliance training for your staff and internal audits.

Risk Management 88

Risk Management Risk Regulatory Compliance Payment APIs and Integration 88

Stax

FEBRUARY 5, 2024

That’s why understanding surcharging—including its definitions, types, calculating methods, and best practices—can help you incorporate surcharging into your operations. Be aware of restrictions and guidelines in your business jurisdictions to avoid legal repercussions. How fair and equitable are your surcharging practices?

Credit Cards 88

Credit Cards Legal On-Demand Regulatory Compliance 88

Innovative Payments Association

SEPTEMBER 5, 2024

This includes conducting regular audits, assessments, and due diligence reviews to ensure that third-party partners are meeting regulatory requirements, adhering to best practices, and managing risks effectively. Don't miss this chance to gain the knowledge you need to thrive in today's dynamic market.

Boot Camp 52

Boot Camp Due Diligence Third Party Vendors Compliance 52

Stax

DECEMBER 4, 2023

Best practices for ensuring AML compliance as a PayFac include continuously updating your AML policies, utilizing advanced technologies for monitoring, periodic internal reviews and audits, and engaging with AML experts and consultants. But training can’t be a one-off practice.

Money Laundering 88

Money Laundering Compliance AML Due Diligence 88

Core

MARCH 19, 2024

Misappropriated tax dollars significantly erode public trust and confidence in government institutions, leading to skepticism, disengagement from civic processes, and even legal consequences. Still, payment fraud is a concern in every sector, and the stakes for government organizations are especially high.

Fraud Detection 52

Fraud Detection Government Governance Compliance 52

Fi911

MAY 7, 2024

It could be due to a breach of the payment processor’s terms, excessive chargebacks, fraudulent activities, or violating legal or regulatory requirements. Businesses may be added to the TMF for a variety of reasons. How Do Merchants Avoid Being Added to the Terminated Merchant File?

PCI DSS 84

PCI DSS Processors Compromise Identity Theft 84

FloQast

MARCH 1, 2024

The Sarbanes-Oxley Act addressed several themes, including increasing oversight of the accounting profession with the Public Company Accounting Oversight Board (PCAOB), establishing new standards to preserve auditor independence, reconfiguring audit committees, and requiring enhanced financial statement disclosures.

Audit 52

Audit Compliance Assessments Procedures 52

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 Mitigation 88

Nanonets

SEPTEMBER 21, 2023

Regular audits and reconciliations can also help identify any discrepancies and fraudulent transactions. Non-compliance with Regulations Compliance with accounting regulations is essential to avoid legal issues and penalties.

Accounts 52

Accounts Audit Payroll Compliance 52

Nanonets

SEPTEMBER 23, 2023

In this guide, we will explore the  requisition process  and its role in accounting, as well as discuss best practices for managing and optimizing the process. They ensure that an audit trail exists for every transaction, which can be used to demonstrate accountability and transparency. What is a Requisition Order?

Process 52

Process Best Practices Compliance Procedures 52

The Fintech Times

MAY 15, 2024

This approach helps not only in avoiding legal pitfalls but also in maintaining consumer trust by upholding ethical AI practices and ensuring data integrity. Employees using the technology need to know how to do so legally and ethically.” “Moving forward, businesses need to stay ahead of potential threats. .

Cybersecurity 72

Cybersecurity AI Government Governance 72

Stax

MARCH 4, 2024

Train your team on secure payment practices Another critical step is ensuring cybersecurity best practices and awareness is instilled across your workforce. Check and audit for payment security Regularly do security audits and compliance checks. There’s also compliance.

PCI DSS 88

PCI DSS Payment Security Security MFA 88

Nanonets

FEBRUARY 9, 2024

It also applies to accounting firms, audit agencies, and any third party that a publicly traded company uses in its accounting management process. The act requires companies to develop, publish, audit, and actively use their ICFR. A detailed look at specific findings and any issues arising from audit. What is an ICFR Audit?

Audit 52

Audit Risk Assessment Assessments Procedures 52

EBizCharge

JULY 12, 2024

Enforcing explicit procedures for approval and reimbursement creates a standard for audits. Professional services: Fees for external services like consulting, legal advice, or marketing. Clear documentation rules support transparency and ease auditing, reinforcing the company’s commitment to financial accountability.

Compliance 52

Compliance Best Practices Procedures Process 52

Fi911

NOVEMBER 7, 2023

US entities, spanning individual business owners, corporate bodies, associations, tribal entities as defined by the Indian Gaming Regulatory Act, and other legal entities. These may align with industry best practices or other regulatory frameworks.

AML 52

AML Compliance Money Laundering OFAC 52

Nanonets

APRIL 1, 2024

Failure to maintain this discipline can lead to financial pitfalls, including overdrafts, bounced checks, and inaccuracies in financial reporting and auditing practices. Proper management involves regular reconciliation , communication with payees, and adherence to best practices to mitigate risks.

Reconciliation 52

Reconciliation Checks Automation Process 52

Segpay

MAY 1, 2024

DORA entered into force on January 16th, 2023, and its legal implementation deadline is January 17 th , 2025. Its legal framework is designed to enhance the operational resilience of all digital service providers, including payment service providers (PSPs), that operate in the European Union (EU).

Compliance 52

Compliance Cybersecurity Procedures Risk Management 52

Core

FEBRUARY 6, 2024

An Overview of 7 Best Practices Adopting government fraud prevention best practices is instrumental in maintaining the resilience of public systems. Regular Audits and Reconciliation: Routine audits and reconciliations can detect discrepancies to ensure financial records align with actual transactions.

Best Practices 52

Best Practices Government Governance Fraud Prevention 52

Nanonets

APRIL 23, 2024

A Guide to NetSuite Account Reconciliation Accurate financial records are an important part of any business’ ability to make informed decisions and also adhere to legal regulations. This audit trail enhances accountability, facilitates compliance, and provides a transparent record of reconciliation activities for auditing purposes.

Reconciliation 52

Reconciliation Accounts Multi-Currency Audit 52

Segpay

OCTOBER 4, 2023

Affiliate marketing is often considered high-risk from a compliance perspective due to several factors that can increase the likelihood of regulatory and legal issues. These affiliates operate independently, and the merchant may have limited control over their marketing practices. Non-compliance can result in fines and legal action.

Security 52

Security Due Diligence Compliance Payments 52

Exact Payments

JANUARY 4, 2024

Remember that failing to meet these standards can result in significant consequences, such as fines, loss of business, and ongoing audits to demonstrate compliance. Maintaining a secure network demands anti-virus mechanisms that consistently remain active, use up-to-date signatures, and generate auditable logs.

PCI DSS 52

PCI DSS Compliance Audit Encryption 52

FICO

MAY 24, 2021

Not understanding how these decisions are made, and whether they are ethical and safe, creates enormous legal vulnerabilities and business risk. To drive the responsible use of AI in their organizations, senior leadership and boards must understand and enforce auditable, immutable AI model governance.

AI 98

AI Regulatory Compliance Governance Government 98

Basis Theory

OCTOBER 1, 2024

On the other hand, organizations with Levels 2, 3, or 4 use Self-Assessment Questionnaires (SAQs) to audit their compliance program. and assessments, significantly eliminating prep efforts and reducing audit timelines (to as little as 21 days.) PCI helps by outlining some standard best practices to follow.

PCI DSS 88

PCI DSS Compliance Encryption Assessments 88

Nanonets

SEPTEMBER 22, 2023

By implementing  best practices  and leveraging automation tools, you can maximize the potential of your  accounts payable department. Implementing  best practices  can streamline operations, reduce errors, and enhance performance.

Accounts 40

Accounts Best Practices Automation Compliance 40

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. By reconciling expenses, businesses can ensure that they comply with these regulations and avoid potential penalties or legal issues.

Reconciliation 52

Reconciliation Best Practices Compliance Credit Cards 52

EBizCharge

MAY 14, 2024

Additionally, e-signature capability should be incorporated for added authenticity and legal compliance, and all electronic invoices should be stored securely and backed up for record-keeping and auditing purposes. By following these best practices, businesses can navigate automation implementation with confidence.

Automation 52

Automation Payment APIs and Integration Best Practices Online and Mobile Banking 52

Nanonets

NOVEMBER 15, 2023

Automate reporting and audit trails With paper-based systems, these tasks often require more time and effort. Maintaining a clear audit trail is also a challenge, as it's easy to lose track of paper documents. Whether it's month-end closing, auditing, or financial forecasting, you can instantly access the data you need.

Accounts 52

Accounts Payment APIs and Integration Audit Automation 52

FloQast

NOVEMBER 21, 2023

In accountancy contexts, CPD may include activities and subjects such as accounting best practices, emerging fintech, economics, business management, and communications. Employees should ensure that their CPD Is relevant to their professional needs in order to help them progress in their careers.

Professional Development 52

Professional Development Rules Assessments Accounts 52

EBizCharge

JULY 18, 2024

This compliance reduces the risk of legal issues and fines, as it guarantees that transactions meet the necessary data security and privacy standards. Moreover, using EDI facilitates accurate record-keeping and auditing processes, making it easier for companies to demonstrate compliance during inspections or reviews by regulatory bodies.

ACH 52

ACH Transactions Payments Funds Transfer 52