The Payments Association

FEBRUARY 14, 2025

Firms need to act now in examining their existing processes and controls and strengthening these where needed to prepare with sufficient time for the changes. Key actions for firms Implement robust internal processes : Firms must establish (or bolster) comprehensive internal processes to comply with the new safeguarding requirements.

Stablecoins 88

Stablecoins Payment APIs and Integration Regulatory Compliance Compliance 88

The Payments Association

FEBRUARY 10, 2025

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

Crime Fraud Prevention Risk Assessment Due Diligence 88

PYMNTS

JUNE 29, 2020

The number of tax audits on corporations plunged amid the pandemic, with the IRS saying in the National Taxpayer Advocate’s “Objectives Report to Congress” report for Fiscal Year 2021 that it began 716 corporate examinations from April 1 to June 1 this year compared to 2,445 during the same time last year, a 71 percent drop.

Audit 69

Audit IRS Tax Refunds Returns 69

VISTA InfoSec

FEBRUARY 25, 2024

And painful account recovery procedures await all users who must reset passwords across potentially dozens of breached websites. Conduct audits periodically post-partnership. Worse yet, there is irreparable reputation damage and loss of customer trust that destroys brands after high-profile incidents.

Data Breach 272

Data Breach Breach Multifactor Authentication Cybersecurity 272

The Fintech Times

FEBRUARY 14, 2024

Crucial for organisations worldwide, this transformation rewrites the rules and offers a seamless alternative to tedious data entry, high processing costs, and lost invoices, promising a new era of financial agility. What is AP automation? Current trends in AP automation The current AP automation market is dynamic.

Automation 103

Automation Process Duplicate Compliance 103

The Payments Association

DECEMBER 9, 2024

From fraud detection to customer support, AI-driven solutions are revolutionising how payments are processed and safeguarded. LLMs are sophisticated algorithms trained on vast amounts of text data, enabling them to generate human-like text, interpret complex queries, and process vast amounts of transactional data.

Privacy 88

Privacy Payment Security AI Security 88

VISTA InfoSec

JULY 17, 2024

Ensuring effective translation processes Focusing on making translation processes for security top-notch is crucial. Here are the six main steps in this process: Create an incident response team with multilingual capabilities : Make sure your team includes speakers of all the main languages your company uses.

Cybersecurity 238

Cybersecurity Compliance Encryption Best Practices 238

VISTA InfoSec

MARCH 6, 2024

Changes Access Controls "Limit viewing of audit trails" to those with a need. Testing Procedures Broad testing, looking at system settings, monitored files, etc. audit log security principles are mostly unchanged. Testing procedures align with updated access language. Similar emphasis on policies and procedures.

PCI DSS 130

PCI DSS Procedures Best Practices Assessments 130

Nanonets

JUNE 19, 2023

Accounts payable audits play a crucial role in the financial health of businesses. This article covers why accounts payable audits are important to maintain financial health and the steps in an AP audit process. We will also cover how automation helps to streamline the AP audit procedure.

Audit 52

Audit Accounts Procedures Compliance 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

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

Clearly Payments

JANUARY 8, 2024

In the rapidly advancing world of payments and eCommerce, merchants find themselves navigating a landscape of risk in payment processing. In this guide, we go into the topics of risk management in payment processing, equipping merchants with the knowledge and strategies needed to secure their transactions.

Risk Management 97

Risk Management Risk PCI DSS Process 97

VISTA InfoSec

OCTOBER 26, 2023

SOX establishes regulations around financial reporting, mandates internal control audits, and strengthens corporate governance. The SOC framework includes multiple internal control audit reports. Now let’s examine the key differences between SOC and SOX audits. It applies to all U.S.

Audit 130

Audit Compliance Laws Government 130

The Payments Association

FEBRUARY 10, 2025

AI can enhance transaction monitoring, while stronger KYC processes and staff training will help manage risks and maintain compliance. Partnering with regional providers, leveraging AI for fraud detection, and conducting regular audits will ensure compliance, transparency, and operational excellence.

IBAN 88

IBAN AML Master Account Due Diligence 88

Nanonets

MAY 8, 2023

If not, it may be time to rework your current accounting policies to implement audit trails. Despite what many business owners believe, audit trails aren’t reserved only for companies that receive an audit. Audit trails can prevent fraud, aid in disaster recovery, and ensure compliance with regulatory agencies.

Audit 52

Audit Procedures Disaster Recovery Reconciliation 52

The Finance Weekly

JULY 28, 2022

One of Vena’s customers, , Verra Mobility , claimed that Vena misled them into believing that the Soc 1 Type II report that Verra was given had been audited by an independent auditor. SOC reports (Type 1 and Type 2) are designed “to provide independent assurance on controls for financial processes that have been outsourced to a third party.”

Audit 130

Audit Compliance Data Security Security 130

Nanonets

JANUARY 1, 2024

In this blog, we'll delve into what invoice audits entail and why they are crucial for the financial integrity of businesses. What is an Accounts Payable Audit?    An Account Payable Audit is a process by which the financial records of the accounts payable department are examined by an auditor.

Audit 52

Audit Compliance Automation Verification 52

FloQast

NOVEMBER 20, 2023

Internal auditing ensures an organization’s financial integrity, compliance with regulations, and overall operational efficiency. 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?

Risk Assessment 52

Risk Assessment Audit Assessments Risk 52

Neopay

DECEMBER 16, 2024

Robust processes: Established procedures for report production, involving relevant business areas and governance bodies. Structured RCA processes: Creating action plans with clear accountability and deadlines. High-quality data: Effective use of Management Information (MI) to support conclusions about consumer outcomes.

Consumer 52

Consumer Compliance Audit Governance 52

VISTA InfoSec

SEPTEMBER 28, 2023

Notify and Obtain Consent Before Data Processing: Under the DPDP Act, it is mandatory for a data fiduciary to notify and obtain consent from the data principal before processing personal data (Clause 5, DPDP Act). These measures ensure lawful, transparent processing of personal data while maintaining privacy.

Privacy 130

Privacy Audit Data Breach Breach 130

PYMNTS

MAY 16, 2018

SOC 2 was developed by the American Institute of Certified Public Accountants (also known as AICPA) and exists as an auditing process aimed at ensuring that service providers maintain and manage customer data in a safe manner. The onus is on the firm to produce proof that such procedures were followed.

Audit 46

Audit Procedures ISOs Security 46

Fintech Finance

MARCH 3, 2025

Issued by Ernst & Young (EY), a leading independent auditing firm, the SOC 2 Type II certification is a rigorous assessment for operating effectiveness of a service providers internal controls. The audit firm will conduct annual reviews, and Antom will continue its recertification process.

Fraud Prevention 52

Fraud Prevention Fraud Detection AI Risk Management 52

VISTA InfoSec

JANUARY 29, 2024

Defined and understood processes and mechanisms are in place to safeguard all systems and networks from malicious software. 5.2 Anti-malware processes and mechanisms are active, regularly maintained, and monitored. 5.4 OR -> Carries out continuous behavioral analysis of systems or processes. Regular scans are carried out.

PCI DSS 130

PCI DSS Phishing Best Practices Procedures 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

VISTA InfoSec

JULY 31, 2023

Create a Formal Procedure : Establish a standardized process for restricting network access by configuring rules and criteria for your firewalls and routers. Maintain Documentation of Your Procedures : Keep a record of your process and create visual representations of cardholder data streams between systems and networks.

PCI DSS 130

PCI DSS Security Encryption Compliance 130

Stax

JANUARY 15, 2024

Are you struggling with resource constraints caused by soaring credit card processing costs? Learn how to achieve payment processing compliance when surcharging to improve your company’s financial stability and reputation. It offsets the card processing costs, transferring the financial obligation to the latter.

Credit Cards 88

Credit Cards PCI DSS Compliance Process 88

VISTA InfoSec

NOVEMBER 12, 2024

PCI DSS is a set of requirements that is applied to every small and large organization that accepts, stores, processes, or transmits cardholder data. This includes preparing for potential threats, training staff on response procedures, and regularly testing the response plan ( Requirements 12.10.1 PCI DSS v4.0, Visa, MasterCard, etc.)

PCI DSS 130

PCI DSS Compliance Encryption Audit 130

VISTA InfoSec

NOVEMBER 12, 2024

PCI DSS is a set of requirements that is applied to every small and large organization that accepts, stores, processes, or transmits cardholder data. This includes preparing for potential threats, training staff on response procedures, and regularly testing the response plan ( Requirements 12.10.1 PCI DSS v4.0, Visa, MasterCard, etc.)

PCI DSS 130

PCI DSS Compliance Encryption Audit 130

VISTA InfoSec

JANUARY 22, 2024

Requirement and Testing Procedures 3.2.a Requirement and Testing Procedures 3.2.a Requirement and Testing Procedures 3.1 Minimize cardholder data storage by implementing policies, procedures, and processes for data retention and disposal. Verify secure data deletion processes. PCI DSS v3.2.1 PCI DSS v4.0

PCI DSS 100

PCI DSS Encryption Procedures Authorization 100

M2P Fintech

APRIL 11, 2025

Key Proposals in the RBI’s Draft Guidelines Standardized Gold Valuation Lenders must use a transparent and uniform method for valuing pledged gold, with valuation done by certified personnel and subject to periodic audits. Purity checks must be documented and auditable.

Due Diligence 52

Due Diligence Caps Audit Non-Bank 52

PYMNTS

OCTOBER 30, 2020

It cannot be overstated how integral non-cash payments are to the global economy, with the United States processing more than 174.2 Slow compliance checks and sluggish processing times are commonplace, especially on the legacy systems still used by many banks around the world. billion of these payments in 2018 alone for a total of $97.04

Automation 91

Automation Process Disputes AML 91

VISTA InfoSec

FEBRUARY 13, 2024

Audits play a complementary role by ensuring that existing security measures align with both internal policies and external regulatory requirements. This process involves a thorough review of security policies, access controls, and other safeguards to ensure they meet the highest standards.

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

PYMNTS

MAY 12, 2017

million — a record for the watchdog, reports said — for misconduct during its audit of Connaught. Reports Thursday (May 11) said the Financial Reporting Council slapped PwC with the fine and issued a separate fine to retired PwC audit partner Stephen Harrison for his role in the 2009 audit. regulator has fined PwC $6.5

Audit 40

Audit Procedures Assessments Regulations 40

FloQast

FEBRUARY 19, 2025

He brings over 13 years of experience, providing clients with business and technology audits, as well as providing control design assessment and process improvement services. Xavier has led numerous SOX and Internal Audit engagements for clients ranging from start-ups to Fortune 500 companies throughout his career at CFGI.

Advisors 52

Advisors Compliance Risk Audit 52

Fintech Finance

OCTOBER 14, 2024

Orbital’s compliance was verified through a rigorous audit conducted by A-LIGN , a globally respected Certified Public Accountant (CPA) firm. This process involved an in-depth examination of Orbital’s internal controls, policies, and procedures across multiple AICPA Trust Services Criteria.

Compliance 95

Compliance ISOs Procedures Audit 95

Stax

SEPTEMBER 17, 2024

Each requirement plays a critical role in building a secure environment for payment processing. These include penalties, legal repurcussions, and the revocation of credit card processing privileges. Each requirement plays a critical role in building a secure environment for payment processing. What is PCI Compliance?

Credit Cards 88

Credit Cards PCI DSS Compliance Process 88