Remove Audit Remove Procedures Remove Regulatory Compliance
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Top regulatory priorities for the payments sector

The Payments Association

Regular audits and compliance checks : Firms will face enhanced monitoring and reporting under the proposed policy. They should implement regular audits and strengthen compliance oversight to uphold safeguarding practices. Regulatory compliance : Staying compliant with open banking regulations is crucial.

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

The Payments Association

It underscores the need for payment firms to balance AI innovation with robust privacy and regulatory compliance to protect sensitive consumer data. Firms must adopt transparent AI practices, enhance regulatory frameworks, and continuously train models to navigate the evolving landscape of AI-driven threats. Why is it important?

Privacy 88
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Economic Crime and Corporate Transparency Act examined: A guide to avoiding failure-to-prevent fraud measures

The Payments Association

It highlights new corporate responsibilities, significant penalties for non-compliance, and the businesses need to implement strong fraud prevention measures to protect their financial and reputational standing. Compliance requires proactive fraud risk assessment, the implementation of preventive procedures, and a culture of accountability.

Crime 88
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Another Revolut Fine – This Time from the Central Bank of Lithuania

Neopay

A Revolut representative said: Revolut Bank UAB is committed to the highest standards of regulatory compliance and cooperated with the Bank of Lithuania in taking immediate action to address the procedural deficiencies.

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A Complete Guide to Securely Process Credit Cards in Sage 100

EBizCharge

Here are five ways you can ensure secure payments with Sage credit card processing: Maintain full PCI compliance: PCI Standards require merchants to follow strict security protocols, such as encrypting payment data, limiting access to sensitive information, and regularly monitoring for vulnerabilities.

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Finding Your Crypto Home: What Makes an Exchange Platform Trustworthy

Finextra

Regulatory Compliance and Licensing Regulatory compliance represents a primary indicator of exchange legitimacy. Compliant exchanges implement robust Know Your Customer ( KYC ) procedures and Anti-Money Laundering ( AML ) protocols. Published audit results. State-level money transmitter licenses.

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The Walls Within: Why Organizations Cling to Data Silos in the Age of AI

Finextra

This includes implementing robust access controls, multi-factor authentication, and regular security audits. This includes implementing data quality metrics, data lineage tracking, and data auditing processes. Model Auditing: Regularly auditing AI models to ensure compliance with regulations and ethical guidelines.

AI 59