The Payments Association

FEBRUARY 14, 2025

Firms should be prepared for more onerous record-keeping and reporting requirements and factor in the costs of additional compliance obligations, including holding client funds under statutory trust. Employees should be well-versed in the safeguarding procedures and understand their role in protecting customer funds.

Stablecoins

Innovative Payments Association

AUGUST 29, 2024

Conduct a Risk Assessment Before building a compliance program, businesses should conduct a thorough risk assessment to identify potential compliance risks. This includes assessing the risk of money laundering, financial crime, and regulatory violations.

Cannabis Banking

PYMNTS

JANUARY 30, 2019

That procedure can be described as a two-by-two check, and is geared toward verifying individuals on two sides of a transaction. But regulators are now requiring firms to use risk-based policies and procedures to determine a customer’s risk scores and to use risk scores to establish a baseline for transaction and relationship monitoring.

Due Diligence

VISTA InfoSec

OCTOBER 26, 2023

Auditing Under Section 404 of the SOX, there is a requirement for an obligatory annual independent audit. This audit confirms the validity of management’s evaluation of their controls and reports on the effectiveness of the overall financial controls and procedures.

Audit

Basis Theory

OCTOBER 1, 2024

So, while you may not need PCI Level 1 compliance, understanding the different levels of PCI compliance and the 12 PCI requirements will certainly help. PCI Levels allow organizations to understand and determine their reporting requirements when processing credit card payments. Return to Top Who needs to be PCI compliant?

PCI DSS

Nanonets

FEBRUARY 9, 2024

Remember that internal controls are procedures and processes management emplace to ensure accounting integrity and financial transparency. For some companies, particularly publicly traded ones, ICFR is a key part of required financial filings and helps stakeholders rest assured that data they’re examining is accurate and timely.

Audit

FloQast

OCTOBER 27, 2023

Changing nature of business : Because of the changing nature of business and the business environment, compliance officers deal with more complex supply and distribution channels, increasing sophistication of fraud, and a complex labyrinth of laws and reporting requirements.

Compliance