VISTA InfoSec

DECEMBER 19, 2024

The Society for Worldwide Interbank Financial Telecommunication (SWIFT) provides secure and reliable communication networks for over 11500 connected financial institutions to facilitate cross-border payments and securities transactions. What is SWIFT CSP, and why it was introduced?

SWIFT 130

SWIFT Cybersecurity PCI DSS Compliance 130

Fintech News

JUNE 2, 2024

Swift, the global financial messaging cooperative, has announced two AI-driven experiments in collaboration with member banks to combat cross-border payments fraud which could potentially save the industry billions in fraud-related costs. This initiative could transform confidential data sharing and improve global fraud detection.

Cross-Border Payments 133

Cross-Border Payments Cross-Border SWIFT AI 133

VISTA InfoSec

MARCH 28, 2024

Adhering to compliance might involve appointing a data protection officer, conducting impact assessments for new projects, and understanding the rights of individuals regarding their data. Regular audits of access rights can help ensure that employees only have access as long as needed for their current role.

Data Breach 278

Data Breach Regulatory Compliance Breach Encryption 278

VISTA InfoSec

MARCH 6, 2024

assessment, understanding these changes to Requirement 10 will help you strategize your implementation approach. Changes Access Controls "Limit viewing of audit trails" to those with a need. audit log security principles are mostly unchanged. Maintains the risk assessment step. or preparing for your first PCI DSS v4.0

PCI DSS 130

PCI DSS Procedures Best Practices Risk Assessment 130

VISTA InfoSec

OCTOBER 11, 2023

In this process, you’ll come across key terms like PCI SAQ (Self-Assessment Questionnaire), AOC (Attestation of Compliance), and PCI ROC (Report on Compliance). The QSA does this by conducting an audit of the organization’s processes and controls. Let’s focus on the ROC for now. 5/5 - (7 votes)

PCI DSS 130

PCI DSS Audit Compliance Assessments 130

Nanonets

AUGUST 1, 2023

In the rapidly evolving world of auditing, innovative technologies have revolutionized traditional practices. Auditors are now increasingly embracing the agile auditing approach previously used in software development. This strategic allocation of resources optimizes auditing efforts, leading to more focused and effective audits.

Audit 52

Audit Risk Assessment AI Assessments 52

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

Fintech Finance

MAY 30, 2024

Swift has today announced two AI-based experiments in collaboration with its member banks, to explore how the technology could assist in combatting cross-border payments fraud and save the industry billions in fraud-related costs. AI’s capability for confidential data sharing could be a game-changer for the industry.

Cross-Border Payments 64

Cross-Border Payments Cross-Border SWIFT AI 64

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. Looking out for a Reconciliation Software?

Reconciliation 52

Reconciliation Audit Procedures Correspondent 52

VISTA InfoSec

FEBRUARY 13, 2024

Vulnerability assessments involve scanning systems for known weaknesses, while penetration testing (or pen testing) takes a more aggressive approach by simulating cyberattacks to evaluate the effectiveness of current security measures. They provide a structured approach to evaluate and enhance the effectiveness of cybersecurity measures.

Cybersecurity 130

Cybersecurity Audit Best Practices Mitigation 130

Nanonets

AUGUST 1, 2023

The era of automation has brought about a revolution in various industries, and the audit sector is no exception. The integration of Artificial Intelligence (AI), cloud-based data storage solutions, and data analytics tools is set to transform the audit industry, reshaping the way accountants and auditors carry out their tasks.

Audit 40

Audit Automation Risk Assessment Assessments 40

Fintech Finance

NOVEMBER 18, 2024

Leading audit, tax and consulting firm RSM UK is encouraging payment providers and other interested parties to respond to the FCA consultation which closes on December 17 th. The proposed changes follow problems and delays in providing customer refunds after the collapse of several large payment providers.

Consulting 97

Consulting Payments Regulations Procedures 97

Nanonets

DECEMBER 13, 2023

Audit Trail and Transparency: AI Insurance Claims Processing systems maintain detailed audit trails of all activities within the claims processing workflow. This transparency is essential for regulatory audits, allowing authorities to review the entire process and verify that each step adheres to compliance requirements.

Process 102

Process AI Fraud Detection Compliance 102

The Payments Association

OCTOBER 11, 2024

Firms must prepare for these changes by improving their internal processes, conducting audits, and adapting to new compliance requirements to ensure seamless implementation of the FCA’s reforms. What’s next? With many firms facing supervisory interventions due to poor safeguarding, there is a strong sense of urgency.

Due Diligence 88

Due Diligence Audit Reconciliation Compliance 88

VISTA InfoSec

APRIL 3, 2024

Lastly, regular audits of user privileges and access logs also help in identifying and rectifying potential vulnerabilities so that access controls can be in step with the changing threat landscape. Untrained or Uninformed Employees Amidst the focus on technological solutions, it’s easy to neglect the human element of cybersecurity.

Cybersecurity 130

Cybersecurity Encryption Breach Phishing 130

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. This assessment serves as the groundwork for developing strategies to mitigate these identified risks.

Risk Management 97

Risk Management Risk PCI DSS Process 97

The Payments Association

JANUARY 29, 2025

Outdated risk assessments, limited awareness of emerging risks, and failure to adjust processes during operational changes, like customer migrations, left gaps that allowed high-risk transactions to bypass scrutiny. Internal assessments categorised Nordeas overall AML risk as critical, yet systemic upgrades were not prioritised.

Financial Crimes 88

Financial Crimes Crime Due Diligence Money Laundering 88

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. Our tailored solutions help businesses stay compliant through a holistic, adaptable approach.

Financial Crimes 52

Financial Crimes Crime Due Diligence Compliance 52

Neopay

OCTOBER 3, 2024

Companies must regularly audit and stress-test their systems to ensure they function as intended, particularly as regulatory requirements change. Comprehensive audits and reviews : Our team conducts regular audits of your financial crime prevention systems, including AML, sanctions screening, and customer due diligence processes.

Financial Crimes 59

Financial Crimes Due Diligence Crime Compliance 59

Neopay

JULY 2, 2024

Outcome metrics : The review noted a range of metrics used by firms to assess outcomes, from customer complaints and satisfaction surveys to retention rates and claims ratios. Adopt comprehensive metrics : A blend of different metrics should be used to monitor and assess consumer outcomes thoroughly.

Consumer 52

Consumer Compliance Regulatory Compliance Assessments 52

Exact Payments

JANUARY 4, 2024

Remember that failing to meet these standards can result in significant consequences, such as fines, loss of business, and ongoing audits to demonstrate compliance. Maintaining a secure network demands anti-virus mechanisms that consistently remain active, use up-to-date signatures, and generate auditable logs.

PCI DSS 52

PCI DSS Compliance Audit Encryption 52

Stax

JANUARY 3, 2024

Assess Business Needs Understand your storefront and customer habits. Stay on Top of Maintenance and Upgrades Regularly maintain and upgrade the system, focusing on software/hardware updates, security audits, and new innovations for a better customer experience. 9 Steps for Implementing Self-Checkout Step Summary 1.

Small Business 88

Small Business Transactions Payment Gateways Assessments 88

PYMNTS

FEBRUARY 21, 2018

The latest news from the country comes from its government: Chief FinTech Officer of the Monetary Authority of Singapore, Sopnendu Mohanty, said the central bank is about two years out from being able to assess the impact of its current blockchain project, Ubin. These failures would have been easily spotted and prevented on blockchain.

Government 52

Government Governance Blockchain Central Bank 52

Nanonets

NOVEMBER 14, 2023

Ensures swift and accurate retrieval of relevant data. Auditing & Tax Compliance: Facilitates VAT compliance audits, utilizing deep learning algorithms for automated document checks. Real-time risk identification and enhanced compliance in auditing and tax-related processes.    What is Document Capture?

Automation 52

Automation Facilitators Audit Legal 52

Nanonets

APRIL 24, 2024

Documentation : Comprehensive documentation of the reconciliation process must be maintained, including details of discrepancies and adjustments, for audit trail purposes, ensuring accountability and transparency. Audit Trails : Comprehensive audit trails to track changes and maintain a transparent reconciliation process.

Payment Reconciliation 52

Payment Reconciliation Reconciliation Payments Adjustments 52

PYMNTS

MAY 5, 2017

Regular risk and compliance assessments are not enough for today’s clever fraudsters,” Graff said. Finding this form of fraudulent activity weeks later or during an audit, the damage has already been done. The controversy over SWIFT’s security flaws, especially those tied to its messaging terminals, has been growing since 2016.

Breach 45

Breach Business Email Compromise Data Breach Cybersecurity 45

M2P Fintech

FEBRUARY 25, 2025

By analyzing borrower behavior, loan performance, and market trends, LMS provides insights that enhance risk assessment and optimize loan offerings. Finflux by M2Ps Loan Management System aids in regulatory compliance by offering automated reporting, audit trails and adherence to global standards.

Payment APIs and Integration 52

Payment APIs and Integration Compliance Automation BNPL 52

Nanonets

SEPTEMBER 21, 2023

Businesses should assess their current processes to identify areas for improvement and select the right tools that align with their specific needs.  Proper assessment, tool selection, integration, training, and  continuous improvement  efforts are key to successful implementation of finance automation.

Automation 52

Automation Finance Assessments Compliance 52

Nanonets

JULY 25, 2023

The goal of financial analysis is twofold: to make internal assessments for managerial decision-making and to make external assessments to determine the firm's value or context. Ratio Analysis: Ratio analysis involves calculating and interpreting various financial ratios to assess a company's financial health and performance.

Financial Analysis 52

Financial Analysis Payment APIs and Integration Assessments Automation 52

Nanonets

NOVEMBER 14, 2023

Regular Security Audits: Conduct regular security audits to identify vulnerabilities. Engage third-party cybersecurity experts to perform external assessments and identify potential weaknesses. Urgency:  Watch for requests pressuring quick action on data changes or fund transfers.

Email Compromise 52

Email Compromise Business Email Compromise Compromise Phishing 52

Nanonets

JULY 21, 2023

So, assess your team's existing workflow and technical proficiency before deciding. Audit trail: Automation without transparency can lead to chaos. The software captures and extracts relevant data, matches invoices with purchase orders, routes them for approval, generates payment batches, and creates necessary audit trails.

Automation 52

Automation Process Audit Payroll 52

Payment Savvy

MAY 10, 2024

Regular Audits The application conducts routine security audits and assessments to identify and rectify vulnerabilities. Compliance Plaid adheres to data protection regulations like GDPR and CCPA, as well as financial industry standards such as PCI DSS.

Payment APIs and Integration 52

Payment APIs and Integration Venmo Credential Privacy 52

EBizCharge

JUNE 25, 2024

Financial accuracy also saves business owners from errors during tax season or when assessing the financial viability of new projects or investments. Efficient filing supports future audits and can help track the company’s financial health and cash flow over time.

Reconciliation 52

Reconciliation Automation Correspondent Transactions 52

Nanonets

FEBRUARY 28, 2024

Documentation : Documenting the reconciliation process is essential for maintaining an audit trail, which includes detailed records of the steps undertaken, discrepancies identified, and the corrective measures applied. This might involve additional validation checks or comparisons to guarantee the integrity of the reconciled data.

Reconciliation 52

Reconciliation Process Audit Compliance 52

Nanonets

AUGUST 31, 2023

Automation can also help maintain a clear audit trail, thus ensuring transparency and compliance. Assess the feasibility Not all tasks can be automated, or the cost of automation may not justify the benefits. Moreover, implementing them can help you reduce paperwork without compromising on audit trails or record keeping.

Automation 52

Automation CRM Compliance Process 52

EBizCharge

MAY 24, 2024

This seamless integration provides swift and straightforward transactions to enhance customer satisfaction and loyalty. To make choose the best embedded payment processing solution, you should: Start by assessing your payment needs. Consider integration capabilities.

Embedded Payments 52

Embedded Payments Process PCI DSS Payments 52

Segpay

JUNE 13, 2024

PCI DSS compliance sets industry requirements that safeguard payment card data using encryption, firewalls, and regular security audits. Compliance with Industry Standards Your business should comply with industry bare minimums like Payment Card Industry Data Security Standard (PCI DSS).

Best Practices 40

Best Practices Processors Transactions Security 40