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Why firms shouldn’t skip a general compliance audit — an interview with Neopay’s Margita Layne

Neopay

Yearly financial crime and safeguarding audits are now standard practice — but what about the rest? It’s easy to focus on the audits that are mandated on the firms by the law or regulations, like financial crime and safeguarding, and assume that means you’re fully covered. Good question.

Audit 59
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Economic Crime and Corporate Transparency Act examined: A guide to avoiding failure-to-prevent fraud measures

The Payments Association

Businesses must proactively assess fraud risks, implement adequate procedures, leverage technology for fraud detection, and foster a culture of compliance to avoid regulatory penalties. Compliance requires proactive fraud risk assessment, the implementation of preventive procedures, and a culture of accountability. What’s next?

Crime 88
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Data Breaches 101: What They Are And How To Prevent Them

VISTA InfoSec

You may face legal/regulatory penalties for violating disclosure laws. And painful account recovery procedures await all users who must reset passwords across potentially dozens of breached websites. Conduct audits periodically post-partnership.

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What is a BIN in Payment Processing

Clearly Payments

Building a Strong Business Case : Acquiring banks will assess the payment processor’s business plan, compliance procedures, and financial stability. New processors must be prepared to demonstrate compliance and may need to undergo regular audits to meet these standards. Apply to Card Networks (Visa, Mastercard, etc.)

Process 104
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How to Improve Compliance with Multilingual Cybersecurity Resource

VISTA InfoSec

Navigate legal and regulatory frameworks Dealing with laws and rules about cybersecurity in different countries is a must. You need to know these laws well because they affect how you manage cybersecurity when dealing with multiple languages. Outline regular audit processes to check compliance with these policies.

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

The Payments Association

This could involve regular audits of AI systems, rigorous testing procedures, and ongoing monitoring of their performance to identify and address discriminatory patterns. So, while AI offers huge potential in payments, it’s crucial to ensure that it’s being used responsibly and in line with privacy laws.

Privacy 88
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SOX VS SOC – Mapping the Differences

VISTA InfoSec

federal law passed in 2002 to protect investors from fraudulent financial activities. SOX establishes regulations around financial reporting, mandates internal control audits, and strengthens corporate governance. The SOC framework includes multiple internal control audit reports. The Sarbanes-Oxley Act (SOX) is a U.S.

Audit 130