Stax

MARCH 6, 2024

By the end of this guide, you’ll have `a clear overview of its operational framework, strategic benefits, best practices, and advanced strategies to maximize this powerful, rapidly rising payment tool. This includes encryption and tokenization of payment data, secure storage practices, and regular security audits.

Best Practices 88

Best Practices PCI DSS Payment Gateways Gateways 88

Nanonets

MAY 21, 2024

Seven Best Practices for Effective Account Reconciliations From Mesopotamia's rudimentary ledgers tracking livestock and crops to the second-century BCE Indian treatise " Arthashastra ", accounting has been a cornerstone of economic management in any civilized society.

Best Practices 52

Best Practices Reconciliation Accounts Payment APIs and Integration 52

The Payments Association

FEBRUARY 10, 2025

The Economic Crime and Corporate Transparency Act 2023, specifically the “failure-to-prevent fraud” offence, and outlines how businesses can mitigate fraud risks. This article explores the key provisions of the Act, the risks businesses must address, and the steps required to mitigate potential liabilities.

Crime 88

Crime Risk Assessment Fraud Prevention Due Diligence 88

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. Audits play a complementary role by ensuring that existing security measures align with both internal policies and external regulatory requirements.

Cybersecurity 130

Cybersecurity Audit Best Practices Mitigation 130

VISTA InfoSec

OCTOBER 21, 2024

Now, here Data Protection Officers play an important part in ensuring your data handling practices align with regulatory requirements and best practices, thereby safeguarding your reputation and building trust with customers, partners, and stakeholders.

CCPA 208

CCPA Privacy Assessments Laws 208

EBizCharge

MARCH 18, 2025

To mitigate these risks and secure financial data, pairing your Sage 100 with a secure payment gateway provider with robust security features is key. Conduct routine audits to ensure compliance with security protocols: Audits help identify weaknesses in your payment processing system and ensure all operations are up to standard.

Credit Cards 52

Credit Cards Process Security Data Breach 52

EBizCharge

OCTOBER 25, 2023

Now more than ever, businesses are focusing on preventing data breaches and implementing response protocols to mitigate breaches if they occur. 15 best practices to prevent data breaches Since data breaches can cause significant damage, businesses must be diligent and proactive to prevent, address, mitigate, and avoid these threats.

Data Breach 52

Data Breach Best Practices Breach Phishing 52

FloQast

NOVEMBER 20, 2023

Internal auditing ensures an organization’s financial integrity, compliance with regulations, and overall operational efficiency. One of the first steps in carrying out an effective internal audit is to perform an internal audit risk assessment. What Is an Internal Audit Risk Assessment?

Risk Assessment 52

Risk Assessment Audit Assessments Risk 52

Nanonets

APRIL 24, 2024

Audit Bank Reconciliation Guide  Both internal and external accounting audits are essential parts of financial management as well as organizational risk management. A bank reconciliation audit is one such process that helps in identifying financial gaps or discrepancies. Looking out for a Reconciliation Software?

Reconciliation 52

Reconciliation Audit Procedures Correspondent 52

VISTA InfoSec

SEPTEMBER 25, 2024

To mitigate these risks, it’s essential to implement strong cybersecurity measures during the transition to CCaaS. Some best practices to ensure robust cybersecurity include: Data Encryption: All sensitive data should be encrypted both in transit and at rest to prevent unauthorized access and ensure efficient data security measures.

Cybersecurity 130

Cybersecurity CRM Disaster Recovery Encryption 130

VISTA InfoSec

OCTOBER 21, 2024

To mitigate these risks, it’s essential to implement strong cybersecurity measures during the transition to CCaaS. Some best practices to ensure robust cybersecurity include: Data Encryption: All sensitive data should be encrypted both in transit and at rest to prevent unauthorized access and ensure efficient data security measures.

Cybersecurity 130

Cybersecurity CRM Disaster Recovery Encryption 130

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 Governance Government Fraud Prevention 52

VISTA InfoSec

NOVEMBER 4, 2024

Develop an incident response plan An effective incident response plan is crucial for promptly managing and mitigating ICT disruptions. Regular reviews and audits ensure your systems and processes stay aligned with regulatory changes. Best practices for implementing the DORA compliance 1.

Compliance 130

Compliance Risk Management Third-Party Service Provider Audit 130

VISTA InfoSec

NOVEMBER 4, 2024

Develop an incident response plan An effective incident response plan is crucial for promptly managing and mitigating ICT disruptions. Regular reviews and audits ensure your systems and processes stay aligned with regulatory changes. Best practices for implementing the DORA compliance 1.

Compliance 130

Compliance Risk Management Third-Party Service Provider Audit 130

VISTA InfoSec

NOVEMBER 4, 2024

Develop an incident response plan An effective incident response plan is crucial for promptly managing and mitigating ICT disruptions. Regular reviews and audits ensure your systems and processes stay aligned with regulatory changes. Best practices for implementing the DORA compliance 1.

Compliance 130

Compliance Risk Management Third-Party Service Provider Audit 130

VISTA InfoSec

NOVEMBER 4, 2024

Develop an incident response plan An effective incident response plan is crucial for promptly managing and mitigating ICT disruptions. Regular reviews and audits ensure your systems and processes stay aligned with regulatory changes. Best practices for implementing the DORA compliance 1.

Compliance 130

Compliance Risk Management Third-Party Service Provider Audit 130

The Payments Association

DECEMBER 16, 2024

While external factors are harder to control, businesses can mitigate their impact through effective strategies. Streamlined processes and robust controls can mitigate these risks effectively. Best Practices for Managing FX Risks Diversification Strategies Diversifying your currency portfolio is an effective risk mitigation approach.

International Payments 88

International Payments Risk Payments Strategy Multi-Currency 88

VISTA InfoSec

NOVEMBER 12, 2024

Engage qualified security assessors (QSAs) Work with a QSA to perform a gap analysis, guide you through the compliance process, and conduct formal audits. Ongoing training ensures that everyone involved understands the importance of protecting cardholder data and follows best practices. check out this video.

PCI DSS 130

PCI DSS Compliance Encryption Audit 130

VISTA InfoSec

NOVEMBER 12, 2024

Engage qualified security assessors (QSAs) Work with a QSA to perform a gap analysis, guide you through the compliance process, and conduct formal audits. Ongoing training ensures that everyone involved understands the importance of protecting cardholder data and follows best practices. check out this video.

PCI DSS 130

PCI DSS Compliance Encryption Audit 130

Segpay

JUNE 13, 2024

SMBs also fall victim to cyber criminals, as many lack the resources and knowledge to set up threat mitigation strategies, leaving them vulnerable to attacks. In this post, we’ll discuss the best practices for businesses and customers to secure online payment against cyber attacks. The Travelex ransomware attack. million ransom.

Best Practices 40

Best Practices Processors Transactions Security 40

Fi911

FEBRUARY 26, 2025

Requirements : Annual on-site audit by a Qualified Security Assessor (QSA), quarterly network scans. These are grouped into six overarching control objectives, aligning with best practices in data security. Understanding your compliance level is the first step to meeting the required security standards.

PCI DSS 52

PCI DSS Compliance MFA Assessments 52

Clearly Payments

JANUARY 8, 2024

By identifying potential vulnerabilities, merchants can take targeted actions to mitigate risks before they escalate. Chargeback Management Best Practices Chargebacks pose a significant challenge for merchants, impacting both financial stability and reputation. Read this article on what is a good chargeback rate.

Risk Management 97

Risk Management Risk PCI DSS Process 97

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

VISTA InfoSec

SEPTEMBER 27, 2024

Now, here Data Protection Officers play an important part in ensuring your data handling practices align with regulatory requirements and best practices, thereby safeguarding your reputation and building trust with customers, partners, and stakeholders.

CCPA 130

CCPA Privacy Assessments Laws 130

Stax

AUGUST 22, 2024

It can also help to teach them about best practices they can follow to prevent fraudulent transactions. To mitigate some of the financial risks, you can look into retaining a portion of the funds and creating reverse accounts. Additionally, you need to conduct regular compliance training for your staff and internal audits.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

The Payments Association

OCTOBER 11, 2024

The reforms aim to address weaknesses in safeguarding practices, reduce consumer fund risks, and enhance regulatory compliance, particularly in preventing fund shortfalls. Monthly reporting : Payment firms must submit monthly regulatory returns, allowing the FCA to monitor trends and intervene if safeguarding practices fall short.

Due Diligence 88

Due Diligence Audit Reconciliation Compliance 88

FICO

MAY 24, 2021

To drive the responsible use of AI in their organizations, senior leadership and boards must understand and enforce auditable, immutable AI model governance. However, senior leaders and Board of Directors need to be aware of the risks associated with the technology and the best practices to proactively mitigate them.

AI 98

AI Regulatory Compliance Governance Government 98

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. Risk assessment and categorization The first step towards mitigating risk is to assess it.

Money Laundering 88

Money Laundering Compliance AML Due Diligence 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

Fi911

JULY 8, 2024

Merchants must combine technology, vigilance, and best practices as part of a broad, multilayered strategy. Additionally, businesses should conduct continuous monitoring of transactions and audits to detect potential fraud early.

Account Takeovers 97

Account Takeovers Fraud Detection Phishing Fraud Prevention 97

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

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 Governance Government AI 72

Neopay

AUGUST 5, 2024

This involves identifying and mitigating risks associated with safeguarding and understanding potential threats and vulnerabilities to client assets and data. Detailed records of all safeguarding training should be maintained for audit purposes. Understanding risk management is also a crucial part of the training.

Compliance 52

Compliance Procedures Audit Risk Management 52

Neopay

OCTOBER 3, 2024

Companies must regularly audit and stress-test their systems to ensure they function as intended, particularly as regulatory requirements change. Comprehensive audits and reviews : Our team conducts regular audits of your financial crime prevention systems, including AML, sanctions screening, and customer due diligence processes.

Financial Crimes 59

Financial Crimes Crime Due Diligence Compliance 59

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

Nanonets

NOVEMBER 16, 2023

We’ll examine the different types of AP controls, accounts payable internal controls best practices, and how to manage AP controls in today’s digital landscape. There are many accounts payable internal controls best practices that every business should prioritize; let’s get into them.

Accounts 52

Accounts Best Practices Duplicate Checks 52

Nanonets

JUNE 21, 2023

This article will provide a comprehensive guide to reconciling payments, its importance, challenges faced, best practices, and the role of automation in enhancing the process. Fraud detection and risk mitigation Reconciling payments plays a vital role in detecting fraudulent activities and mitigating associated risks.

Payment Reconciliation 52

Payment Reconciliation Reconciliation Best Practices Automation 52