VISTA InfoSec

NOVEMBER 4, 2024

Conduct a DORA gap analysis Conducting a DORA gap analysis is essential for evaluating the effectiveness of your current ICT risk management and operational measures in relation to the requirements outlined in Article 6 of DORA. Regular reviews and audits ensure your systems and processes stay aligned with regulatory changes.

Compliance 130

Compliance Risk Management Third-Party Service Provider Audit 130

VISTA InfoSec

NOVEMBER 4, 2024

Conduct a DORA gap analysis Conducting a DORA gap analysis is essential for evaluating the effectiveness of your current ICT risk management and operational measures in relation to the requirements outlined in Article 6 of DORA. Regular reviews and audits ensure your systems and processes stay aligned with regulatory changes.

Compliance 130

Compliance Risk Management Third-Party Service Provider Audit 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

Fintech News

JANUARY 25, 2024

ServiceNow Gen AI to help EY risk management The alliance with EY involves ServiceNow offering solutions in generative AI (Gen AI) for compliance, governance, and risk management. The system is designed to unify the dispute management process and includes features like dashboards, automation, and transaction auditing.

AI 117

AI Disputes Risk Management Risk Assessment 117

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

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

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.

Reconciliation 52

Reconciliation Audit Procedures Correspondent 52

The Payments Association

FEBRUARY 10, 2025

Businesses must review and strengthen their frameworks to ensure compliance, as failure to do so risks financial loss, reputational damage, and potential criminal liability. Sally Felton Director, Fraud Risk Management, BDO The new FTPF offence is another example of the shift towards increased corporate criminal liability.

Crime 88

Crime Fraud Prevention Risk Assessment Due Diligence 88

Fintech Finance

JUNE 13, 2024

EBANX , a global technology company specializing in payment services for emerging markets, has achieved the top international certification for Privacy Information Management Systems (PIMS), ISO/IEC 27701:2019. This certification ensures that the best practices available in the market for protecting data privacy are being strictly followed.

ISOs 81

ISOs Privacy Best Practices Compliance 81

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. SEPA, ACH, Faster Payments) to reduce delays and costs.

International Payments 88

International Payments Risk Payments Strategy Multi-Currency 88

Fi911

MAY 7, 2024

This termination leads to the business’s name being added to the TMF, marking it as a high-risk entity. This system, though crucial for risk management in the banking sector, can have significant repercussions for the businesses that find themselves placed on the TMF.

PCI DSS 92

PCI DSS Processors Compromise Identity Theft 92

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

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

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. With AML legislation, financial institutions are required to follow strict protocols for money laundering risk management.

Money Laundering 88

Money Laundering Compliance AML Due Diligence 88

Neopay

AUGUST 5, 2024

Understanding risk management is also a crucial part of the training. 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.

Compliance 52

Compliance Procedures Audit Risk Management 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. As we addressed before, acquirers have a vested interest in helping merchants with this challenge.

Account Takeovers 94

Account Takeovers Fraud Detection Phishing Fraud Prevention 94

FICO

NOVEMBER 21, 2022

Innovation – AI and Decision Management Platform (*New category win for FICO). FICO is honored to be recognized for excellence in risk management and compliance and would like to congratulate all the winners for their best-in-class contributions across the risk management space. Darryl Knopp.

Risk Management 52

Risk Management Compliance Audit Risk 52

FloQast

OCTOBER 27, 2023

While it can feel burdensome, compliance management has become a critical risk management feature and is too important to ignore. Unfortunately, compliance management is no walk in the park. Best Practices for Successful Compliance Management To implement an effective compliance management system, focus on best practices.

Compliance 52

Compliance Best Practices Mitigation Procedures 52

Neopay

OCTOBER 3, 2024

Key takeaway : Automated compliance systems are essential for efficiently managing large-scale operations, but they are not infallible. Companies must regularly audit and stress-test their systems to ensure they function as intended, particularly as regulatory requirements change.

Financial Crimes 59

Financial Crimes Crime Due Diligence Compliance 59

Innovative Payments Association

SEPTEMBER 5, 2024

A comprehensive third-party oversight framework encompasses a range of ongoing activities and processes aimed at monitoring and managing relationships with third parties throughout the entire lifecycle. It is important to have processes in place for addressing any compliance violations or issues that may arise during the relationship. .

Boot Camp 52

Boot Camp Due Diligence Third Party Vendors Compliance 52

FloQast

NOVEMBER 27, 2023

Additionally, areas such as risk management, segregation of duties, and even cybersecurity play pivotal roles. For instance, an effective risk management strategy helps companies preempt potential financial reporting pitfalls. As businesses grow and financial landscapes shift, risks aren’t static.

Compliance 52

Compliance Risk Assessment Audit Risk Management 52

Neopay

NOVEMBER 13, 2024

Proactive risk management: We help assess your business’s risk exposure, implementing frameworks that keep up with growth, high-risk customers, and evolving regulations to keep your compliance efforts ahead. This ensures that any deficiencies or gaps are swiftly identified.

Financial Crimes 52

Financial Crimes Crime Due Diligence Compliance 52

EBizCharge

JULY 16, 2024

This article will explore the essential aspects of staying compliant with NACHA rules, such as risk management, data security, authorization protocols, and more, to help institutions maintain the highest standards of operational integrity and customer trust. What is NACHA?

NACHA 52

NACHA Nacha Rules ACH Network ACH 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

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.

Process 52

Process AI Best Practices Reconciliation 52

FloQast

MARCH 21, 2024

Regulatory changes to legislation, auditing standards, and financial reporting requirements According to KMPG’s 2023 SOX Report , respondents spend an average of $1.6 Regulatory changes to legislation, auditing standards, and financial reporting requirements According to KMPG’s 2023 SOX Report , respondents spend an average of $1.6

Compliance 52

Compliance Audit Automation 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

Segpay

MAY 1, 2024

Some of DORA’s main pillars are: Operational Risk Management: DORA requires PSPs to implement robust operational risk management practices to identify, assess, mitigate, and monitor operational risks effectively.

Cybersecurity 52

Cybersecurity Compliance Procedures Risk Management 52

Stax

JULY 16, 2024

However, in 2004, these companies came together to set up best practices to ensure data security for rising digital payments globally. This requirement describes the process of creating a risk management system that detects security issues, prioritizes them, installs patches, and recommends appropriate actions.

PCI DSS 88

PCI DSS Compliance Credit Cards Encryption 88

Neopay

JUNE 27, 2024

Governance structure: Present a well-defined governance structure, highlighting key individuals responsible for regulatory compliance, risk management and oversight. 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

Neopay

FEBRUARY 12, 2024

It’s not just personnel though, software and IT needs and costs have also increased sharply, alongside other costs such as training and the need for more testing and audits. The depth of collaboration extends beyond technology to encompass industry insights, best practices, and a shared commitment to innovation.

FinTech 52

FinTech Compliance Reconciliation Risk Management 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

OCTOBER 4, 2023

Risk Management Fraud detection and prevention measures are crucial in this type of high-risk business. A robust risk management system helps to protect both merchants and affiliates from fraudulent activities, such as click fraud or affiliate fraud.

Security 52

Security Due Diligence Compliance Payments 52

Nanonets

MAY 6, 2024

BlackLine's intelligent matching algorithms and exception management capabilities help identify discrepancies and exceptions, enabling timely resolution and reducing the risk of errors.   This transparency enhances accountability, facilitates management oversight, and supports continuous improvement initiatives.  

Reconciliation 52

Reconciliation Accounts Audit Automation 52

Center for Payments

SEPTEMBER 1, 2023

National Preparedness Month serves as an opportunity to reinforce cybersecurity practices, such as implementing strong authentication protocols, regularly updating software and systems, and conducting security audits. This collaboration encourages the sharing of best practices, emerging threats, and mitigation strategies.

Payment Security 40

Payment Security Security Cybersecurity Identity Theft 40

The Fintech Times

APRIL 20, 2024

Providers should offer detailed information on making financially sound purchases including disclosing all fees and sharing best practices for using installment payments. Regulation could include fee and interest limits, consumer affordability assessments, and audits of advertising and contracts.

BNPL 72

BNPL Regulations On-Demand Checks 72

The Fintech Times

DECEMBER 14, 2024

The Association will play a pivotal role in fostering collaboration among key stakeholders, advancing professional standards, and promoting best practices within the insurance industry.

Regulations 64

Regulations AI Finance Cross-Border 64