Nanonets

AUGUST 1, 2023

Internal audits play a crucial role in assessing a company's internal controls, corporate governance, and accounting processes. These audits are essential for ensuring compliance with laws and regulations, as well as maintaining accurate and timely financial reporting and data collection.

Audit 52

Audit Automation Bots Risk Assessment 52

The Payments Association

JUNE 11, 2025

UK card fraud alone reached £396 million in 2022, with friendly fraud responsible for most chargebacks. million cases reported in 2022 and resulting in losses of £396 million. billion in return-based fraud in 2022. The scale of the threat Fraud in digital commerce is no longer a marginal loss—it is a systemic, expanding threat.

Risk 88

Risk Fraud Prevention Fraud Detection Payment APIs and Integration 88

Finovate

JANUARY 22, 2025

“This collaboration aims to eliminate administrative burdens, ensure consistent and auditable decision-making, and ultimately enhance the customer experience.” A user-friendly portal and an API ensure easy and scalable integration into institutions’ current systems. Tandem Bank’s mission to build “the U.K.’s

Verification 52

Verification Audit Automation Fraud Prevention 52

FICO

DECEMBER 8, 2021

These include Auditable AI and Humble AI, and my AI predictions for 2022 are that we will see them formally join Explainable AI and Ethical AI under the umbrella of Responsible AI , the gold standard that should be used in developing artificial intelligence systems that are trustworthy and safe. Auditable AI and Humble AI.

AI 52

AI Audit Blockchain Checks 52

Fintech Finance

SEPTEMBER 18, 2024

It is also notoriously difficult to achieve the ISO 27001 certification, as the process requires rigorous assessments and audits of Tribe’s information security management systems and data security safeguards, which were undertaken by world-leading testing and certification provider Bureau Veritas.

ISOs 98

ISOs Security Payment Security Payment APIs and Integration 98

Nanonets

AUGUST 1, 2023

Over the years, the auditing landscape has undergone remarkable transformations, and among the most significant advancements has been the advent of audit automation software solutions. Computer-Assisted Audit Tools and Techniques (CAATTs) have been available to auditors since the early 1990s. The situation has changed now.

Audit 40

Audit Automation Risk Assessment Payment APIs and Integration 40

The Finance Weekly

MARCH 28, 2022

ESG reporting is valuable because it ensures that companies assess their influence on sustainability issues and allows them to be transparent about the risks and opportunities they face. It expects to release two reporting protocols on disclosures in the second half of 2022. Data validations, controls, and audit trails are extensive.

Finance 130

Finance Audit On-Demand Government 130

Neopay

MAY 31, 2024

The Financial Conduct Authority (FCA) significantly increased its anti-money laundering (AML) and counter-terrorist financing (CTF) supervision activity in 2022-23. The FCA’s supervisory approach in 2022-23 utilised data and intelligence to target high-risk firms and streamline interventions. During this period, the FCA employed 52.8

Financial Crimes 52

Financial Crimes AML Money Laundering Audit 52

The Payments Association

MAY 16, 2025

A 2024 joint survey by the Bank of England (BoE) and the Financial Conduct Authority (FCA) found that 72% of UK-regulated firms are actively using or piloting AI and machine learning toolsan increase from 67% in 2022. Many compliance professionals lack the technical understanding to assess or challenge the outputs of these systems.

Compliance 88

Compliance AI Risk Audit 88

Open Banking Excellence

SEPTEMBER 21, 2023

DORA came into force on 27th Dec 2022 and organisations have until 17th Jan 2025 to become compliant. DORA is designed to “make sure the financial sector in Europe is able to stay resilient through a severe operational disruption”, the Council of the EU wrote in a statement announcing DORA in 2022. “We

FinTech 130

FinTech Compliance Regulations Non-Bank 130

The Fintech Times

DECEMBER 11, 2023

In a new report, the National Audit Office has revealed that the Financial Conduct Authority (FCA) has been experiencing significant delays between when it identifies an issue and the following required action. Depending on the circumstances, a range of barriers have proved to slow the FCA down when it comes to taking action.

Money Laundering 64

Money Laundering Audit Financial Crimes ATM 64

FICO

JULY 31, 2019

As TPRM or third-party risk management grows in importance, so does cybersecurity risk assessment as part of it. The latest Assessment of Business Cyber Risk (ABC) report from the US Chamber of Commerce and FICO discusses four steps for improving third-party cybersecurity risk management. Infrastructure. Mitigating controls.

Risk 70

Risk Security Risk Assessment Risk Management 70

The Payments Association

MARCH 25, 2025

From 2022 to 2023 alone, bulletin publications increased by 34%, making it more demanding than ever for issuers and financial institutions (FIs) to stay compliant. Key questions to consider include: Who assesses the impact and scope of the requirements? Keeping up with payment network compliance is getting harder and harder.

Compliance 88

Compliance Payment Networks Issuers Best Practices 88

Neopay

DECEMBER 5, 2024

It also introduces new self-assessment questions and emphasises the importance of senior management accountability. Proliferation Financing (PF) In response to the 2022 changes in the Money Laundering Regulations (MLRs), the Guide now explicitly addresses the need for firms to conduct PF risk assessments.

Financial Crimes 52

Financial Crimes Crime Money Laundering Risk Assessment 52

VISTA InfoSec

JULY 5, 2023

From March 2021 to March 2022, the average cost of a data breach in healthcare was over $10 million, up from $9.23 On June 7, 2022, Texas Tech University Health Sciences Center reported a data breach due to a hacking incident that affected over 1.29 A PCI QSA audit can provide assurance that you’re on the right track.

PCI DSS 130

PCI DSS Compliance Data Breach Breach 130

Stax

JANUARY 15, 2024

Swipe fees have doubled in a decade and increased by 20% since 2022. Conduct regular internal audits—preferably on an annual or biannual basis—to assess ongoing compliance with federal regulations. PCI DSS requirements Businesses must complete a self-assessment questionnaire (SAQ) as part of the validation process.

Credit Cards 88

Credit Cards PCI DSS Compliance Process 88

FloQast

DECEMBER 13, 2023

Congress was jolted into action on February 1, 2022 when the then University of Texas law school dean and member of the Enron Board of Directors, William C. It was known as the Corporate and Auditing Accountability, Responsibility, and Transparency Act. The Senate approved the bill on July 15, 2022.

Compliance 52

Compliance Audit White Collar Crime Risk Assessment 52

Stax

JULY 16, 2024

A study by the Pew Research Centre found that in 2022, 41% of consumers didn’t use cash for weekly purchases of essentials like groceries and gas. As a business owner, we suggest that you take the PCI SAQ (Self-Assessment Questionnaire) to check if your business is compliant. In 2022, 31% of all payments were made using credit cards.

PCI DSS 88

PCI DSS Compliance Credit Cards Encryption 88

Neopay

SEPTEMBER 6, 2024

The report highlights a marked improvement in the FCA’s authorisation services, now assessing 98% of cases within statutory deadlines, up from 89% in 2022/23. In addition, the regulator secured 9 freezing orders, up from 3 in 2022, and restrained £21.1 million in assets from individuals under investigation.

Financial Crimes 52

Financial Crimes Crime Consumer Protection Regulations 52

Neopay

JULY 4, 2024

One of the current focusses is enhanced due diligence – right through the process, so for example risk assessments, operational processes, monitoring and reviews, its effectiveness in practice. There are a few – but to give a couple of examples: MAPP (Modular Assessment Proactive Programme) is fairly new. No problem.

AML 52

AML Due Diligence Suspicious Activity Report (SAR) Risk Assessment 52

Neopay

DECEMBER 18, 2023

In a recent report by the National Audit Office (NAO), it has been revealed that the Financial Conduct Authority (FCA) struggled to meet its timelines for registering crypto-asset firms under money laundering regulations in 2021, citing a shortage of skilled personnel in the cryptocurrency domain.

Money Laundering 52

Money Laundering ATM Audit Scams 52

The Fintech Times

MAY 16, 2024

According to a new report by the National Audit Office (NAO), the number of telephone calls received by HM Revenue & Customs (HMRC) from customers was down from previous years. HMRC has been driving towards prioritising digital solutions to solve customer queries in the last few years. Sam Richardson, deputy editor of Which?

Correspondent 59

Correspondent Small Business Audit Assessments 59

FloQast

OCTOBER 27, 2023

And according to PWC’s 2022 Global Risk Survey , four out of five respondents state that keeping pace with the speed of digital and other transformations is a major risk management challenge. In 2022, the Securities and Exchange Commission (SEC) levied $1.1 You can get a demo and see how to stay audit-ready, reduce risk, and save time.

Compliance 52

Compliance Best Practices Mitigation Procedures 52

Nanonets

APRIL 14, 2023

In this article, we'll look at how you can use ChatGPT in accounting to help simplify tedious tasks, generate financial projections quickly, create accurate audit reports, assist with invoice processing and expenses, and manage client communications effectively. While necessary, audits may be a significant drain on resources.

Accounts 52

Accounts Audit Automation Process 52

Stax

MARCH 4, 2024

of the global population using this method of payment in 2022. Check and audit for payment security Regularly do security audits and compliance checks. Outside of standard card transactions, mobile wallets are gaining popularity, with 3.4 billion digital wallet users, or 42.6% Q: How do I know if a customer’s payment is secured?

PCI DSS 88

PCI DSS Payment Security Security MFA 88

Nanonets

MAY 31, 2023

Seon reports that 22% of adults in the US were victims of this type of fraud in 2022, with average losses of around $12,000 per case. billion in 2022 alone. Companies may also incur expenses related to potential restitution, program reviews, audits, and retrofitting or redesigning of processes and systems.

Fraud Detection 52

Fraud Detection Payments Audit Fraud Prevention 52

FICO

JUNE 16, 2022

Thu, 06/16/2022 - 15:20. Key Differences in Recovery and Debt Collections from 2008 to 2022. The Perfect Collections Storm of 2022. Secure confident assurance of a right outcome – Through auditable, transparent and ethical AI at each and every point of decision and execution. Tue, 07/23/2019 - 04:13. by Bruce Curry.

Adjustments 52

Adjustments Assessments Returns APACS 52

Segpay

MAY 1, 2024

The Council of the European Union and the European Parliament formally adopted the legislation in November 2022. 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

FloQast

JANUARY 2, 2024

PWC’s 2022 Global Risk Survey reveals that organizations embracing risk management as a strategic organizational capability are twice as likely to expect revenue growth of 11% or more in the following year. Businesses that navigate the ever-changing risk management landscape are the ones that will be most likely to succeed.

Risk Management 52

Risk Management ISOs Risk Mitigation 52

Nanonets

SEPTEMBER 22, 2023

This includes having multiple approvals for large payments, conducting regular audits to identify any irregularities, and maintaining proper documentation for all financial transactions. Lenders and potential investors assess these accounts to evaluate the company's financial stability.

Accounts 52

Accounts Fraud Prevention Process Financial Literacy 52

Nanonets

NOVEMBER 14, 2023

According to Gartner’s 2022 Gone Phishing Tournament Report , a concerning 44% of employees click on email phishing links. Regular Security Audits: Conduct regular security audits to identify vulnerabilities. Engage third-party cybersecurity experts to perform external assessments and identify potential weaknesses.

Email Compromise 52

Email Compromise Business Email Compromise Compromise Phishing 52

EBizCharge

OCTOBER 25, 2023

Conduct data audits periodically to determine which data is essential. Assess each type of data and consider whether it is necessary. Next, your team should assess the scope of the breach. Assess the scope of the breach Assessing the scope of the breach is a time-intensive process. If not, then stop collecting it.

Data Breach 52

Data Breach Best Practices Breach Phishing 52

Nanonets

JANUARY 17, 2024

The expense report enables more thorough auditing throughout the permitting process than just showing the total expenditures incurred. The monthly report aids the business in tracking expenditure patterns, assessing whether total expenditure is in line with projections, and identifying cost-cutting opportunities.

Automation 52

Automation Reconciliation Accounts Audit 52

Nanonets

SEPTEMBER 25, 2024

In 2022, a staggering 98.6%   Bank statement processing is essential for accurate reconciliation , auditing, and financial reporting. Maintain an efficient audit trail for future retrieval. Monitor and review Regularly auditing data quality is vital for maintaining accuracy and compliance.

Process 52

Process AI Best Practices Reconciliation 52

Nanonets

MAY 15, 2023

Periodic assessment of its use, features, and RoI is essential to optimize its SaaS portfolio. This is compounded by the fact that the SaaS inflation rate is 3.5 times higher than market inflation rates in the USA. Maintenance spend: Period reviews are essential to decide if a SaaS application justifies its presence in terms of RoI.

Duplicate 52

Duplicate Automation AI On-Demand 52

FICO

JANUARY 9, 2023

Importantly, when assessing whether a product represents fair value, market rates and prices for comparable products can be considered. In the context of Consumer Duty, there’s a requirement for ongoing self-assessment and testing of outcomes. These all have to be clearly evidenced and reported back to the FCA. Peter Lemon.

Consumer 52

Consumer Technology Credit Risk Rules 52

Nanonets

APRIL 4, 2023

In 2022, 333.2 You must carefully assess your unique business requirements to leverage the technology for maximum impact. Here is a simple six-step process : Audit your current mailroom : Evaluate your mailroom procedures, including inbound mail volume, document types, and manual document management.

Automation 52

Automation Correspondent Process Fed 52