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

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

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

VISTA InfoSec

JUNE 26, 2024

For instance, you can look at the company’s history of data breaches and their responses, the robustness of the cybersecurity infrastructure, and the presence of comprehensive security policies and procedures. Learn more here about top investments and explore their cybersecurity measures.

Cybersecurity 215

Cybersecurity Security Due Diligence Risk Management 215

VISTA InfoSec

JULY 17, 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 186

Cybersecurity Compliance Encryption Best Practices 186

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

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 BSA 88

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

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

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

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

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

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

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 Payment APIs and Integration 88

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

EBizCharge

JULY 12, 2024

This policy outlines acceptable expenses, the procedures for submitting expenses for reimbursement, and the roles and responsibilities of staff and management in the expense reporting process. Enforcing explicit procedures for approval and reimbursement creates a standard for audits. What is an expense policy?

Compliance 52

Compliance Best Practices Procedures Process 52

Nanonets

FEBRUARY 21, 2024

Businesses are encouraged to familiarize themselves with the procedural steps of cash reconciliation, adopt best practices to enhance accuracy, and consider the benefits of automating the process to mitigate risks associated with manual reconciliation.

Reconciliation 52

Reconciliation Best Practices Automation Point-of-Sale (POS) 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

Neopay

JULY 4, 2024

Related policies and procedures : Review policies like Complaints Handling, Vulnerable Customer protocols, and Customer Onboarding processes. From comprehensive compliance audits and workshops to specialised training sessions, we ensure your reports cover all essential components, reflect best practices, and align with the FCA’s expectations.

Consumer 52

Consumer Risk Assessment Assessments Compliance 52

Core

MARCH 19, 2024

Manual payment processing typically lacks sufficient controls when it comes to documentation or audit trails, making it challenging to detect fraudulent transactions. Reliance on Manual Processes Many local governments still rely on manual payment processes, which are prone to human error even without intentional manipulation.

Fraud Detection 52

Fraud Detection Governance Government Compliance 52

Neopay

JUNE 27, 2024

Compliance policies and procedures: Develop comprehensive compliance policies and procedures that address key regulatory requirements, such as anti-money laundering (AML) and Know Your Customer (KYC) obligations (see below). Staff training: Provide regular training to your staff on AML obligations, red flags, and reporting procedures.

Financial Crimes 52

Financial Crimes Money Laundering Compliance Crime 52

Nanonets

SEPTEMBER 21, 2023

Regular audits and reconciliations can also help identify any discrepancies and fraudulent transactions. Fraudulent Activities Establish strong internal controls, conduct regular audits, and educate employees on fraud prevention. Tax Laws and Regulations Legal requirements related to the preparation and filing of tax returns.

Accounts 52

Accounts Audit Payroll Compliance 52

Nanonets

NOVEMBER 22, 2023

Best practices for managing global suppliers Know your suppliers : Get to know the suppliers that you are planning to work with personally. This agreement not only records crucial information but also communicates the procedures you have implemented to verify the compliance of products.

Best Practices 52

Best Practices Compliance Automation Audit 52

Global Fintech & Digital Assets

MARCH 5, 2024

Banks are expected to apply the follow guidance in connection with their digital asset custodial services: Governance and risk management : Prior to launching digital asset custodial services, banks are expected to undertake a comprehensive risk assessment and to implement appropriate policies and procedures to mitigate identified risks.

Authorization 59

Authorization Product Due Diligence Procedures 59

Segpay

MAY 1, 2024

Incident Reporting and Response: DORA mandates digital service providers to establish incident reporting and response procedures to promptly detect, report, and respond to security incidents, operational disruptions, and other events that could impact the provision of digital services.

Compliance 52

Compliance Cybersecurity Procedures Risk Management 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. Perform Reconciliation Controls: Implement reconciliation controls and procedures to prevent future discrepancies and errors.

Reconciliation 52

Reconciliation Best Practices Compliance Credit Cards 52

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

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

Nanonets

MAY 6, 2024

  Addressing these common errors requires diligence, attention to detail, and implementing robust reconciliation procedures, ideally supplemented with automated tools to minimize human error and enhance efficiency.   What are some best practices for general ledger reconciliation?

Reconciliation 52

Reconciliation Payroll Automation Transactions 52

EBizCharge

MAY 14, 2024

Improved accuracy Automated billing software is programmed to follow predefined rules and procedures consistently, minimizing the risk of human error inherent in manual billing processes. Now that you know how to set up automated billing, you should familiarize yourself with some best practices for implementing it into your business.

Automation 52

Automation Payment APIs and Integration Best Practices Online and Mobile Banking 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

Nanonets

JULY 13, 2023

In this blog post, we will delve into the world of duplicate receipt detection with OCR software, exploring its benefits and best practices. Audit and Record-Keeping Duplicate receipts can create challenges during internal audits or financial reviews. What are Duplicate Receipts? How to Improve Duplicate Detection?

Duplicate 52

Duplicate Audit Process Rules 52

EBizCharge

MAY 24, 2024

By eliminating procedural delays and offering convenient payment options, embedded payments in Sage help businesses deliver top-tier customer service to generate positive engagement and repeat business. Your company should also schedule routine security audits and compliance checks to detect any vulnerabilities instantly.

Embedded Payments 52

Embedded Payments Process PCI DSS Payments 52

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

Nanonets

NOVEMBER 15, 2023

Staggeringly, 79% of SMEs and 68% of mid-market firms cite manual data input and inefficient procedures as their primary pain point. Automate reporting and audit trails With paper-based systems, these tasks often require more time and effort. Automated, real-time reporting reduces the time spent on manual data consolidation.

Accounts 52

Accounts Payment APIs and Integration Audit Automation 52

Nanonets

JULY 21, 2023

This documentation serves as a reference for future audits, reviews, and internal control purposes. Enhance Audit Readiness: Regular general ledger reconciliation ensures that financial records are well-maintained and supported by appropriate documentation. This promotes consistency and accuracy in the reconciliation process.

Reconciliation 52

Reconciliation Automation Audit Process 52

Segpay

OCTOBER 4, 2023

This may include clear affiliate agreements, regular monitoring of affiliate activities, education and training on relevant laws and regulations, and ongoing communication to ensure affiliates adhere to best practices.

Security 52

Security Due Diligence Compliance Payments 52