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

DECEMBER 9, 2024

This could involve regular audits of AI systems, rigorous testing procedures, and ongoing monitoring of their performance to identify and address discriminatory patterns. Mitigating the risks: Best practices for firms One of the most important steps to mitigating the risks is ensuring AI transparency and explainability.

Privacy 88

Privacy Payment Security AI Security 88

VISTA InfoSec

JANUARY 29, 2024

a Review documented policies and procedures to confirm that a process is established for regular evaluations of any system components that are not susceptible to malware, encompassing all elements specified in this requirement. This stipulation is considered a best practice until March 31, 2025. New Requirement in PCI DSS v4.0:

PCI DSS 130

PCI DSS Phishing Best Practices Procedures 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. Strengthening KYC procedures is critical, ensuring that verification extends beyond master account holders to individual vIBAN end users.

IBAN 88

IBAN AML Master Account Due Diligence 88

EBizCharge

OCTOBER 25, 2023

By implementing the most reliable security software and best practices, organizations and individuals can mitigate the risk of data breaches and safeguard their valuable information from malicious actors. Using this knowledge to create and update your procedures to address new threats is essential.

Data Breach 52

Data Breach Best Practices Breach Phishing 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

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

EBizCharge

MARCH 18, 2025

4 best practices for secure Sage 100 credit card processing Since processing credit cards securely is crucial for any business using Sage 100, implementing best practices can help protect customer data, maintain compliance with regulations, ensure smooth transactions, and build customer trust.

Credit Cards 52

Credit Cards Process Security Data Breach 52

VISTA InfoSec

FEBRUARY 28, 2024

Specific Requirement - New: Rules for limited shared account use (duration, documentation, approval, auditability). Changes Core Focus Limiting database access to programmatic methods (apps, stored procedures) and database administrators. Requirement 8.6.1: (This requirement is a best practice until 31 March 2025.)

PCI DSS 130

PCI DSS Best Practices Authentication Rules 130

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

VISTA InfoSec

OCTOBER 21, 2024

Best practices in multilingual cybersecurity compliance To keep your data secure in multilingual environments, it’s smart to follow some key steps. Develop and implement policies and procedures Developing and implementing policies ensures everyone knows what to do to keep data safe, no matter the language they speak.

Cybersecurity 147

Cybersecurity Compliance Encryption Best Practices 147

VISTA InfoSec

NOVEMBER 12, 2024

This includes preparing for potential threats, training staff on response procedures, and regularly testing the response plan ( Requirements 12.10.1 Engage qualified security assessors (QSAs) Work with a QSA to perform a gap analysis, guide you through the compliance process, and conduct formal audits. and 10.2 ).

PCI DSS 130

PCI DSS Compliance Encryption Audit 130

VISTA InfoSec

NOVEMBER 12, 2024

This includes preparing for potential threats, training staff on response procedures, and regularly testing the response plan ( Requirements 12.10.1 Engage qualified security assessors (QSAs) Work with a QSA to perform a gap analysis, guide you through the compliance process, and conduct formal audits. and 10.2 ).

PCI DSS 130

PCI DSS Compliance Encryption Audit 130

VISTA InfoSec

FEBRUARY 16, 2024

a: Verify that software-development processes align with industry standards/best practices. - The software should be developed based on industry standards and/or best practices for secure development. - This ensures a clear documentation trail of security practices. . - PCI DSS v3.2.1 PCI DSS v4.0 Requirement 6.3

PCI DSS 100

PCI DSS Procedures Best Practices Verification 100

Fintech Review

JUNE 18, 2024

Best Practices for Hedge Fund Operations Implement strong governance and oversight. Standardize portfolio management procedures and segregate duties to minimize operational risk. Ensure auditability and the future success of the fund by keeping detailed records of transactions, valuations, and investor communications.

Reconciliation 98

Reconciliation Compliance Regulatory Compliance Best Practices 98

Fintech Finance

JUNE 13, 2024

This certification ensures that the best practices available in the market for protecting data privacy are being strictly followed. This certification is an extension of ISO/IEC 27001, which deals with information security and was previously obtained by EBANX in 2019.

ISOs 81

ISOs Privacy Best Practices Compliance 81

Stax

DECEMBER 4, 2023

TL;DR An anti-money laundering (AML) program is a set of laws and procedures that seek to uncover attempts to disguise illicit money as legitimate. An anti-money laundering (AML) program is a set of laws and procedures that seek to uncover attempts to disguise illicit money as legitimate. But training can’t be a one-off practice.

Money Laundering 88

Money Laundering Compliance AML Due Diligence 88

The Payments Association

DECEMBER 16, 2024

Best Practices for Managing FX Risks Diversification Strategies Diversifying your currency portfolio is an effective risk mitigation approach. Internal Controls and Audits Strong internal controls are essential for efficient and compliant FX processes. Paying suppliers in their preferred currency eliminates net exposure.

International Payments 88

International Payments Risk Payments Strategy Multi-Currency 88

PYMNTS

JANUARY 26, 2021

Clearly, things have changed a lot in terms of workplace rules and best practices since the early lockdown days last March, and the task of keeping up with it all — especially for large companies with multiple dispersed locations to manage — can be quite formidable. They're looking to figure out when, and how they can safely do so.”.

Posting 116

Posting Automation Best Practices Compliance 116

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

Nanonets

OCTOBER 1, 2024

Company Policies: Guide internal procedures for invoice processing Now, let’s put them all together to understand the validation process: 1. The invoice is then filed for future reference or audits, completing the validation process. This leads to an overpayment, which is only discovered during the next audit cycle.

Best Practices 40

Best Practices Automation Multi-Currency Process 40

Neopay

AUGUST 5, 2024

Effective safeguarding training covers the policies, procedures, and regulations that must be adhered to in order to minimise risks and maintain compliance with regulatory standards. Detailed records of all safeguarding training should be maintained for audit purposes.

Compliance 52

Compliance Procedures Audit Risk Management 52

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

Clearly Payments

JANUARY 8, 2024

Chargeback Management Best Practices Chargebacks pose a significant challenge for merchants, impacting both financial stability and reputation. Implementing effective chargeback management practices is essential to minimize their occurrence and address disputes promptly. Read this article on what is a good chargeback rate.

Risk Management 97

Risk Management Risk PCI DSS Process 97

FloQast

OCTOBER 27, 2023

Best Practices for Successful Compliance Management To implement an effective compliance management system, focus on best practices. Here are some compliance management best practices worth considering. Write clear internal policies and procedures : Staff at all levels must understand the rules.

Compliance 52

Compliance Best Practices Mitigation Procedures 52

Stax

JANUARY 15, 2024

PCI DSS compliance, a global framework, mandates specific requirements and best practices for maintaining credit card data security. In the following sections, we’ll delve into the legal framework, compliance standards, and best practices to navigate the complexities of surcharging. Security audits.

Credit Cards 88

Credit Cards PCI DSS Compliance Process 88

Segpay

DECEMBER 13, 2024

Organizations must establish procedures for secure and compliant data deletion without compromising system integrity. Organizations can ensure data privacy by implementing robust data privacy policies, conducting regular audits, and training employees on best practices for protecting data.

Privacy 105

Privacy Compliance CCPA Authentication 105

Stax

AUGUST 22, 2024

It can also help to teach them about best practices they can follow to prevent fraudulent transactions. Payfacs need to have regular AML screenings and strictly implement KYC procedures. 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

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. The request is then approved or rejected based on the organization's policies and procedures. What is a Requisition Order?

Process 52

Process Best Practices Compliance Procedures 52

Neopay

OCTOBER 3, 2024

Key takeaway : If your business deals with high-risk clients, it’s crucial to implement enhanced due diligence procedures. Companies must regularly audit and stress-test their systems to ensure they function as intended, particularly as regulatory requirements change. Training and continuous support : Compliance is an ongoing process.

Financial Crimes 59

Financial Crimes Crime Due Diligence Compliance 59

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. This can impact the company’s stock price and ability to secure financing and increase external audit costs. Regular internal audits. Collaboration with audit firms and external auditors.

Compliance 52

Compliance Audit Best Practices Risk Assessment 52

Neopay

DECEMBER 5, 2024

Policy and Procedure Updates : We can assist in revising your policies and procedures to align with the updated expectations, including the addition of PF risk assessments and stronger sanctions monitoring protocols. We ensure your approach to financial crime risks is in line with both FCA expectations and best practices.

Financial Crimes 52

Financial Crimes Crime Money Laundering Risk Assessment 52

VISTA InfoSec

JULY 5, 2023

This widely accepted set of policies and procedures is designed to enhance the security of credit, debit, and cash card transactions, while also protecting cardholders from the misuse of their personal information. A PCI QSA audit can provide assurance that you’re on the right track.

PCI DSS 130

PCI DSS Compliance Data Breach Breach 130

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

Nanonets

FEBRUARY 9, 2024

Remember that internal controls are procedures and processes management emplace to ensure accounting integrity and financial transparency. In this case, the referee (actual control measures and checks) uses the playbook (company procedures built on accepted accounting principles) to manage the game (financial reporting).

Audit 52

Audit Risk Assessment Assessments Procedures 52

Fi911

NOVEMBER 7, 2023

Why is it non-negotiable for financial institutions across the globe, and how can you ensure that your institution is compliant with all AML procedures? This framework encompasses a series of regulations, policies, and procedures. These may align with industry best practices or other regulatory frameworks.

AML 52

AML Compliance Money Laundering OFAC 52