VISTA InfoSec

OCTOBER 26, 2023

SOX establishes regulations around financial reporting, mandates internal control audits, and strengthens corporate governance. The SOC framework includes multiple internal control audit reports. Now let’s examine the key differences between SOC and SOX audits. It applies to all U.S. SOX, a U.S.

Audit 130

Audit Compliance Laws Governance 130

PYMNTS

FEBRUARY 6, 2020

While opportunities for supply chain finance and dynamic discounting can be found across verticals, demand for these capabilities is particularly high in the corporate legal services industry. “It’s a very symbiotic relationship between the in-house legal department and outside counsel,” he told PYMNTS in a recent interview.

Legal 52

Legal Laws Payments Agreements 52

Innovative Payments Association

AUGUST 29, 2024

With the growing legalization of cannabis across the U.S., While many states have legalized cannabis for medical or recreational use, it is still illegal at the federal level. Conduct Regular Monitoring and Audits Regular monitoring and audits are essential for assessing the effectiveness of a compliance program.

Cannabis Banking 52

Cannabis Banking Boot Camp Compliance Money Laundering 52

VISTA InfoSec

MAY 24, 2024

It helps fulfil its legal and regulatory obligations related to data protection and privacy to prevent the risk of facing legal action, regulatory fines, and sanctions for failing to safeguard customer information adequately. Information Security Management System (ISMS) Internal audit under section 12.1.1 of PCI DSS.

PCI DSS 202

PCI DSS Small Business Assessments Compliance 202

Fintech News

APRIL 15, 2024

The investigation was led by a special committee under Temenos’ Non-Executive Chairman Thibault de Tersant and supported by legal and forensic experts from Schellenberg Wittmer Ltd, Sullivan & Cromwell LLP, and Alvarez & Marsal Switzerland LLC.

Legal 105

Legal Audit Non-Bank Research 105

Fintech News

AUGUST 21, 2024

Despite these efforts, Binance still faces significant legal challenges, including a lawsuit from the U.S. However, the company has yet to establish a global headquarters or release fully audited financial statements. Securities and Exchange Commission (SEC) over alleged mishandling of customer funds and other regulatory violations.

Compliance 127

Compliance Law Enforcement Money Laundering Agreements 127

VISTA InfoSec

SEPTEMBER 14, 2023

As per Article 4 (7) , a data controller is defined as ‘a natural or legal person, public authority, agency, or other body which, alone or jointly with others, determines the purposes and means of processing personal data.’ While not a legal requirement, this step lays the foundation for your business to ensure full compliance.

Compliance 130

Compliance Privacy Processors Legal 130

VISTA InfoSec

MAY 2, 2024

Regular audits and updates ensure your systems comply with industry regulations, offering you peace of mind and protecting your critical business information. Compliance is another essential aspect, particularly for businesses in regulated industries such as healthcare, finance, and legal.

Cybersecurity 130

Cybersecurity Legal Compliance Best Practices 130

Fintech News

JANUARY 15, 2024

The company has faced scrutiny over its compliance and anti-money laundering controls, with audits in 2020 and 2022 indicating lapses in staff probity checks. However, recent hires including Stripe’s risk lead Alex Hollombe and Google’s former legal director David Shanks aim to strengthen these areas.

Compliance 112

Compliance Money Laundering Cross-Border Legal 112

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

VISTA InfoSec

SEPTEMBER 28, 2023

Appoint an Independent Data Auditor: The Significant Data Fiduciary shall appoint an independent data auditor to carry out a data audit. Conduct the Data Protection Impact Assessment (DPIA) and Audits: The Significant Data Fiduciary is responsible for implementing the following measures: (Clause 10 (2) (c), DPDP Act).

Privacy 130

Privacy Audit Data Breach Breach 130

Fintech News

FEBRUARY 21, 2024

million is allocated for legal and audit fees, US$750,000 is designated for retrenchment costs, US$500,000 for credit insurance and collections expenses, and US$100,000 for rent. The company had earmarked US$4.5 An additional US$1.15

Law Enforcement 114

Law Enforcement Audit Authorization Consumer Protection 114

VISTA InfoSec

JUNE 26, 2024

This preparedness includes implementing advanced security technologies, conducting regular security audits, and training employees on cybersecurity best practices. Industries with stringent regulatory requirements, such as finance and healthcare, particularly benefit from strong cybersecurity, as compliance avoids legal penalties.

Cybersecurity 215

Cybersecurity Due Diligence Security Risk Management 215

NFCW

JULY 17, 2024

“The European Commission has made commitments offered by Apple legally binding under EU antitrust rules,” the official announcement says. To comply with the same industry standard-specifications as developers of HCE payment apps and to protect confidential information obtained in the context of an audit.

Payment Service Provider (PSP) 74

Payment Service Provider (PSP) Use Case Legal Agreements 74

The Fintech Times

FEBRUARY 14, 2024

Easier monitoring: Automated systems maintain an audit trail for all transactions, facilitating process monitoring and compliance with audits. Confirm e-invoicing compliance Legal compliance is essential as more countries move towards a clearance model. Comarch e-Invoicing was created with automatisation in mind.

Automation 103

Automation Process Duplicate Compliance 103

PYMNTS

DECEMBER 27, 2019

.’s so-called Big Four accounting giants — PwC, Deloitte, KPMG and EY — have reportedly set aside more than $212 million in preparation for potential fines ahead as auditing scrutiny grows. million in fines to the auditing industry, three times the value of fines it had issued in the year prior. government issued a combined $56.29

Accounts 52

Accounts Audit Government Governance 52

Fintech News

FEBRUARY 5, 2024

million is allocated for legal and audit fees, US$750,000 is designated for retrenchment costs, US$500,000 for credit insurance and collections expenses, and US$100,000 for rent. Investree has earmarked US$4.5 An additional US$1.15

Audit 111

Audit P2P SWIFT Legal 111

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

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

FEBRUARY 5, 2024

Healthcare providers, for instance, may factor in compliance costs spent on cybersecurity measures, staff training, regular audits, and legal consultations to ensure adherence to health information privacy regulations. Be aware of restrictions and guidelines in your business jurisdictions to avoid legal repercussions.

Credit Cards 88

Credit Cards Legal On-Demand Regulatory Compliance 88

VISTA InfoSec

FEBRUARY 25, 2024

You may face legal/regulatory penalties for violating disclosure laws. Conduct audits periodically post-partnership. How Breaches Impact You Suffering a breach carries severe consequences beyond just data loss. Forensics and recovery costs pile up fast while operations get disrupted for weeks investigating the breach.

Data Breach 223

Data Breach Breach Multifactor Authentication Cybersecurity 223

The Fintech Times

AUGUST 27, 2024

This includes: Retail banking Audit Compliance Technology Legal Operations Risk management Customer experience and conduct groups. Furthermore, it is committed to offering Emirati fresh graduates a superior and focused learning environment.

Audit 59

Audit Risk Management Legal Compliance 59

PYMNTS

NOVEMBER 25, 2020

EY is increasingly finding itself on the hot seat as German lawmakers and investigators dig deeper into the collapse of payments giant Wirecard , whose books the accounting and consulting giant audited for a decade. The Wirecard scandal blew wide open in June when the payments company filed for insolvency after acknowledging that $2.1

Audit 67

Audit Legal Breach Consulting 67

VISTA InfoSec

JANUARY 22, 2024

This includes: Storing only the minimum data required for legal, regulatory, and business needs Having specific retention periods for cardholder data Securely deleting unneeded data Quarterly identifying and deleting stored cardholder data exceeding defined retention periods. a Confirm CHD storage policies for data retention and disposal.

PCI DSS 100

PCI DSS Encryption Procedures Authorization 100

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

Compliance 52

Compliance Audit Best Practices Risk Assessment 52

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

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

VISTA InfoSec

APRIL 3, 2024

Such lapses result in financial loss and legal repercussions, and they can also irreparably damage a company’s reputation. Moreover, in today’s regulatory environment, encryption has become a compliance requirement in many jurisdictions, which gives businesses a legal as well as a strategic imperative to prioritize it.

Cybersecurity 130

Cybersecurity Encryption Breach Phishing 130

Segpay

OCTOBER 17, 2024

Compliance and Accountability : User-based verification provides a clear audit trail, making it easier for companies to prove compliance with age verification laws and regulations. Legal and Regional Considerations Age verification methods vary by region, influenced by local privacy laws and cultural preferences.

Verification 104

Verification Privacy Laws Compliance 104

Nanonets

OCTOBER 16, 2024

Organisations have vast oceans of information, from invoices and purchase orders to customer forms and legal documents. Automating contract analysis, lease abstraction, compliance and other legal document handling Industry: Legal Lawyers often have to refer to contracts, leases, compliance documents among others at a moment’s notice.

Automation 52

Automation Compliance Process Legal 52

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

MAY 29, 2024

Purchase orders (PO) are legal documents that are drawn to finalize contracts between a buyer and a supplier. Today, Compliance and Audit Trail : Small businesses are often subject to audits and regulatory requirements. This transparency can be crucial during audits, providing clear evidence of financial transactions.

Small Business 52

Small Business Audit Automation Disputes 52

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

The Fintech Times

MAY 6, 2024

A new report from KARM Legal Consultants, the emerging technologies-focused law firm, provides insightful analysis into how the regulatory environments of the United Arab Emirates (UAE), Kingdom of Saudi Arabia (KSA), Bahrain and Turkey compared to one another as well as to the EU and UK.

Innovation 64

Innovation FinTech BNPL Regulations 64

Global Fintech & Digital Assets

NOVEMBER 16, 2023

Under Section 7, DLT foundations have legal personality and thus have their own assets distinct from those of their founders or beneficiaries (each, as defined below) and, accordingly, can sue and be sued. Do the FSRA rules still apply? Under Section 19, DLT foundations must have minimum assets of US$50,000 payable in fiat currency.

Regulations 52

Regulations Technology Distributed Ledger Technology (DLT) Audit 52

Nanonets

NOVEMBER 27, 2023

  Both serve critical functions, including documentation management, budget control, and audit-proofing your business’ financial functions.  You also need to maintain accurate expense records for your financial management systems in case the IRS comes knocking for an audit.   What is a Purchase Requisition?

Audit 52

Audit Accounts Legal Due Diligence 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. Neglecting them can result in fees, credit damage, and legal consequences. Looking out for a Reconciliation Software? What is Bank Reconciliation?

Reconciliation 52

Reconciliation Checks Automation Process 52