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The rise of generative AI in payment security: A double-edged sword for data privacy

The Payments Association

Cohn believes regulation will impose stricter requirements for organisations to assess and mitigate the potential for algorithmic bias in AI-powered payment systems. This could involve regular audits of AI systems, rigorous testing procedures, and ongoing monitoring of their performance to identify and address discriminatory patterns.

Privacy 88
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VISTA InfoSec Achieves CREST Membership a Milestone in Cybersecurity

VISTA InfoSec

CREST membership is an important recognition as it implies that the organization that is accredited meets the strict standards for addressing complex cybersecurity challenges and is adhering to best practices in security testing. Why should I choose a CREST-accredited provider?

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Navigating AML obligations in the age of virtual IBANs

The Payments Association

Partnering with regional providers, leveraging AI for fraud detection, and conducting regular audits will ensure compliance, transparency, and operational excellence. Including structured data would help PSPs monitor and mitigate financial crime risks.

IBAN 88
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A Complete Guide to Securely Process Credit Cards in Sage 100

EBizCharge

To mitigate these risks and secure financial data, pairing your Sage 100 with a secure payment gateway provider with robust security features is key. Conduct routine audits to ensure compliance with security protocols: Audits help identify weaknesses in your payment processing system and ensure all operations are up to standard.

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Economic Crime and Corporate Transparency Act examined: A guide to avoiding failure-to-prevent fraud measures

The Payments Association

The Economic Crime and Corporate Transparency Act 2023, specifically the “failure-to-prevent fraud” offence, and outlines how businesses can mitigate fraud risks. This article explores the key provisions of the Act, the risks businesses must address, and the steps required to mitigate potential liabilities.

Crime 88
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Evolve Payment: The Safety of Cash Management

Evolve Payment

The difficulty in tracking cash transactions and the lack of an audit trail increase the risk of internal theft. Regular security audits and maintenance are required to ensure continued protection, adding to ongoing operational costs. These reports provide comprehensive transaction data that can be easily audited and reconciled.

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PCI Compliance for Banking Professionals

Fi911

Requirements : Annual on-site audit by a Qualified Security Assessor (QSA), quarterly network scans. These are grouped into six overarching control objectives, aligning with best practices in data security. Understanding your compliance level is the first step to meeting the required security standards.

PCI DSS 59