The Payments Association

FEBRUARY 10, 2025

Payment Service Providers must strengthen due diligence, monitoring, and collaboration with regulators to address these risks. Financial regulators are intensifying scrutiny, highlighting gaps that PSPs must urgently address. What’s next? This leads to inadequate due diligence.

IBAN 88

IBAN AML Master Account Due Diligence 88

Stax

JANUARY 23, 2025

The merchant underwriting process is a critical step that payment processors and financial institutions use to assess the risk associated with onboarding new businesses. Key steps include application review, risk assessment, credit checks, and compliance verification. Learn More What is Merchant Account Underwriting?

Underwriting 68

Underwriting PCI DSS Money Laundering Processors 68

The Payments Association

DECEMBER 9, 2024

Generative AI also addresses training challenges for AI models. Moreover, synthetic data can address issues of data bias, as generative AI can create more balanced datasets that reflect a broader range of scenarios. Likewise, AI-generated speech samples enhance voice recognition, distinguishing genuine users from impersonators.

Privacy 88

Privacy Payment Security AI Security 88

Fi911

FEBRUARY 26, 2025

Requirements : Completion of a Self-Assessment Questionnaire (SAQ) and quarterly external scans. These are grouped into six overarching control objectives, aligning with best practices in data security. Regularly Test Security Systems and Processes : Conduct routine penetration tests and vulnerability assessments.

PCI DSS 59

PCI DSS Compliance MFA Assessments 59

VISTA InfoSec

MARCH 6, 2024

assessment, understanding these changes to Requirement 10 will help you strategize your implementation approach. Other Logs Review "periodically" based on the company's risk assessment Periodic review is still required but now explicitly mentioned in Requirement 10.4.2 Maintains the risk assessment step. assessments.)

PCI DSS 130

PCI DSS Procedures Best Practices Risk Assessment 130

EBizCharge

JUNE 20, 2024

This article will help set your business up for success by explaining AR, why it’s important, and best practices for optimizing your receivables. 13 accounts receivable best practices Adopting the best AR practices helps maintain consistent revenue, reducing the need for external financing and minimizing non-payment risk.

Best Practices 52

Best Practices Accounts Disputes Procedures 52

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

VISTA InfoSec

MAY 15, 2025

This article explores key security controls within the SWIFT CSP compliance framework and outlines best practices for financial institutions to strengthen their SWIFT security posture. To align with SWIFT CSP requirements, you should consider the following best practices: 1. Cyber Incident Response Planning 7.2

SWIFT 100

SWIFT Security Best Practices PCI DSS 100

VISTA InfoSec

AUGUST 22, 2023

As technology advances and the use of biometric data becomes more prevalent, it is crucial to address the privacy concerns and regulatory compliance associated with this sensitive data. By addressing these issues, organizations can strike a balance between reaping the benefits of biometric technology and protecting individuals’ privacy.

Privacy 130

Privacy Legal Compliance Best Practices 130

VISTA InfoSec

NOVEMBER 4, 2024

It helps the organization systematically address potential vulnerabilities and enhance cyber resilience. This comprehensive assessment identifies any discrepancies between your existing frameworks and the regulatory standards, enabling you to pinpoint areas that require enhancement.

Compliance 130

Compliance Third-Party Service Provider Risk Management Audit 130

VISTA InfoSec

NOVEMBER 4, 2024

It helps the organization systematically address potential vulnerabilities and enhance cyber resilience. This comprehensive assessment identifies any discrepancies between your existing frameworks and the regulatory standards, enabling you to pinpoint areas that require enhancement.

Compliance 130

Compliance Third-Party Service Provider Risk Management Audit 130

VISTA InfoSec

NOVEMBER 4, 2024

It helps the organization systematically address potential vulnerabilities and enhance cyber resilience. This comprehensive assessment identifies any discrepancies between your existing frameworks and the regulatory standards, enabling you to pinpoint areas that require enhancement.

Compliance 130

Compliance Third-Party Service Provider Risk Management Audit 130

VISTA InfoSec

NOVEMBER 4, 2024

It helps the organization systematically address potential vulnerabilities and enhance cyber resilience. This comprehensive assessment identifies any discrepancies between your existing frameworks and the regulatory standards, enabling you to pinpoint areas that require enhancement.

Compliance 130

Compliance Third-Party Service Provider Risk Management Audit 130

Stax

NOVEMBER 21, 2024

It also ensures that data security best practices, particularly PCI DSS (Payment Card Industry Data Security Standards) requirements , are followed to the letter to prevent any breach or loss of sensitive customer data. The company facilitates the transfer of information and funds between the customer’s bank and your business’ bank.

Credit Cards 88

Credit Cards Small Business Process Credit Card Payment Processing 88

Stax

JUNE 24, 2025

These fees include interchange fees, assessment fees, and processing fees. Assessment fees Assessment fees are charges imposed by the card networks (Visa, Mastercard, American Express, Discover) to support their operations, including marketing, network maintenance, and the development of new technologies.

Credit Cards 88

Credit Cards Process Processors Laws 88

Fintech News

AUGUST 6, 2024

Singapore’s Minister for Transport and Second Minister for Finance, Chee Hong Tat, clarified that the Ministry of Culture, Community and Youth (MCCY) had addressed Income Insurance’s social mission and NTUC Enterprise’s rationale for the deal with Allianz. billion (EUR 1.5

Consumer Protection 109

Consumer Protection Consumer Best Practices Risk Management 109

VISTA InfoSec

JANUARY 29, 2024

The prevention, detection, and addressing of malicious software (malware) is ensured. 5.3 Employing anti-malware solutions that address all types of malwares is crucial in safeguarding systems from both current and evolving malware threats. This stipulation is considered a best practice until March 31, 2025.

PCI DSS 130

PCI DSS Phishing Best Practices Procedures 130

FICO

MARCH 11, 2020

When subscription fraud is not properly identified and addressed, the problem grows. Here are 4 best practices to fight subscription fraud. Start with a First Party Fraud (FPF) exposure assessment undertaken by reviewing across products, services and channels, identifying ownership & size of the FPF problem by department.

Best Practices 52

Best Practices Identity Theft Risk Rules 52

Core

FEBRUARY 6, 2024

The well-being of communities, and society as a whole, hinges on government organizations who provide essential services and address the needs of the public. An Overview of 7 Best Practices Adopting government fraud prevention best practices is instrumental in maintaining the resilience of public systems.

Best Practices 52

Best Practices Government Governance Fraud Prevention 52

VISTA InfoSec

MARCH 5, 2024

Changes Scope Addresses specifically visitor access and authorization. Now is the time for organizations to re-evaluate their physical security strategies, conduct updated risk assessments, and refine their protection processes to align with these enhanced standards. PCI DSS v4.0 Requirement v3.2.1 (9.4, 9.4.1 & 9.4.2) PCI DSS v4.0

PCI DSS 147

PCI DSS Procedures Assessments Checks 147

VISTA InfoSec

FEBRUARY 28, 2024

assessments.) Make sure these records outline who does what in terms of managing user accounts. It must include both numbers and letters. (This requirement is a best practice until 31 March 2025.) Look at your system settings to make sure these password rules are enforced. Requirement 8.3.6: Requirement 8.3.6:

PCI DSS 130

PCI DSS Best Practices Authentication Rules 130

FloQast

NOVEMBER 20, 2023

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? In an internal audit risk assessment process internal auditors use to evaluate an organization’s potential risks and vulnerabilities.

Risk Assessment 52

Risk Assessment Audit Assessments Risk 52

VISTA InfoSec

NOVEMBER 12, 2024

System and application security : SaaS providers must develop and maintain secure applications, which include regular code reviews, vulnerability scanning, and penetration testing to catch and address security weaknesses ( Requirements 6.1 They require an annual on-site assessment by a Qualified Security Assessor (QSA) and quarterly scans.

PCI DSS 130

PCI DSS Compliance Encryption Audit 130

VISTA InfoSec

NOVEMBER 12, 2024

System and application security : SaaS providers must develop and maintain secure applications, which include regular code reviews, vulnerability scanning, and penetration testing to catch and address security weaknesses ( Requirements 6.1 They require an annual on-site assessment by a Qualified Security Assessor (QSA) and quarterly scans.

PCI DSS 130

PCI DSS Compliance Encryption Audit 130

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. This practice involves regularly applying patches and updates to software, operating systems, and applications to correct any potential security vulnerabilities.

Cybersecurity 130

Cybersecurity Audit Best Practices Mitigation 130

Fintech News

APRIL 7, 2024

Examples include verifying the user’s personally identifiable information (PII), assessing the age and reputation of the user’s email and phone number, verifying their location via IP address, and evaluating the trustworthiness of the device to assess the user risk level.

Deepfake 134

Deepfake Scams Fraud Detection Verification 134

The Payments Association

NOVEMBER 12, 2024

Armstrong emphasises that compliance officers need to address any information asymmetries that might exist. Instead, collaboration and open dialogue between compliance and technology teams are crucial to ensure that all aspects of the system are adequately addressed. First, assess the experience level of your development team.

Financial Crimes 88

Financial Crimes Crime Fraud Prevention Compliance 88

Clearly Payments

JANUARY 8, 2024

Identifying and Assessing Risks Understanding the lay of the land is the first step in effective risk management. Conducting a thorough risk assessment tailored to the specific nature of the business is essential. Chargebacks are generally the biggest concern that most merchants have.

Risk Management 97

Risk Management Risk PCI DSS Process 97

Segpay

JUNE 13, 2024

In this post, we’ll discuss the best practices for businesses and customers to secure online payment against cyber attacks. Best Practices for Securing Financial Transactions What can businesses and consumers do to ensure secure payment processing in this digital Wild West? The Travelex ransomware attack. million ransom.

Best Practices 40

Best Practices Processors Transactions Security 40

VISTA InfoSec

FEBRUARY 21, 2024

assessments.) Formally document access control task assignments for sensitive data. Delegate these tasks to appropriate staff members. Verify staff members’ understanding of their responsibilities through interviews. Verify staff members’ understanding of their responsibilities through interviews.

PCI DSS 130

PCI DSS Database Best Practices Procedures 130

EBizCharge

MAY 22, 2025

Understanding these differences is essential for addressing common challenges, such as manual errors, delayed invoices, and poor payment tracking, as they can strain customer relationships, limit payment flexibility, and lead to compliance issues. The following section will explore best practices for combatting these common issues.

Process 52

Process Best Practices Reconciliation Automation 52

VISTA InfoSec

SEPTEMBER 25, 2024

Hence, its essential to assess the following factors when deciding: Customization: The platform should allow for tailored solutions that meet the unique needs of your business. Change Management: Develop a change management strategy to address any resistance or concerns from your team.

Cybersecurity 130

Cybersecurity CRM Disaster Recovery Encryption 130

VISTA InfoSec

OCTOBER 21, 2024

Hence, it’s essential to assess the following factors when deciding: Customization: The platform should allow for tailored solutions that meet the unique needs of your business. Change Management: Develop a change management strategy to address any resistance or concerns from your team.

Cybersecurity 130

Cybersecurity CRM Disaster Recovery Encryption 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 Checks 100

Stax

AUGUST 22, 2024

PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks. Understanding, addressing, and managing them is crucial for maintaining business operations while ensuring safe payment processing for clients. The due diligence doesn’t stop at onboarding.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

Fintech Review

FEBRUARY 13, 2024

Regulatory Frameworks Developing adaptable regulatory frameworks is essential in addressing the rapid pace of fintech innovation while ensuring consumer protection. Traditional financial regulations often fall short in addressing the unique challenges presented by fintech innovations.

Consumer Protection 105

Consumer Protection Innovation Consumer FinTech 105

VISTA InfoSec

SEPTEMBER 5, 2024

Regular sessions should be scheduled to reinforce learning, ideally on a quarterly basis, to keep staff updated on the latest threats and best practices. Powering down the device if its showing signs of significant compromise, but only after assessing if its safe to do so. How can SMEs stay ahead of cyber security threats?

Security 130

Security Phishing Ransomware Risk Assessment 130