PYMNTS

JULY 9, 2020

Under the FCA’s new rules, payment providers and electronic money issuers must maintain records of all funds received and maintain a “safeguarding account” for customer money, the news outlet reported. . This is the end of light-touch regulation of e-money and payment institutions.” .

Rules 67

Rules Third-Party Service Provider Money Laundering Regulations 67

PYMNTS

OCTOBER 3, 2019

But the “huge difference” between the B2C and B2B world, he noted, is that data security is often a contractual obligation for a corporation and its third-party service providers. “In

Privacy 55

Privacy Finance Third-Party Service Provider B2C 55

PYMNTS

OCTOBER 9, 2019

That friction is all about data, and the freight bill audit pay process that involves analyzing a carrier’s invoice to assess its accuracy. Transplace is hoping to address that gap and is focusing on collaboration in that initiative — both with those third-party intermediaries and with banks. Failure to Act.

B2B 46

B2B Third-Party Service Provider Payments Audit 46

Stax

AUGUST 22, 2024

Additionally, you need to conduct regular compliance training for your staff and internal audits. Cyberattacks, human errors, third-party service provider failures, and system disruptions all come under operations risk. Payfacs need to have regular AML screenings and strictly implement KYC procedures.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

EBizCharge

JULY 16, 2024

Risk management Financial institutions and third-party service providers must construct and execute a risk-based approach to detect and prevent fraudulent ACH transactions. NACHA has streamlined the audit process by consolidating the methodologies into a single section within NACHA regulations.

NACHA 52

NACHA Nacha Rules ACH Network ACH 52

Basis Theory

OCTOBER 1, 2024

On the other hand, organizations with Levels 2, 3, or 4 use Self-Assessment Questionnaires (SAQs) to audit their compliance program. Third-Party Service Provider ( TPSP or "service provider") refers to an entity other than the Merchant, Acquirer, or Issuer involved in storing, processing, or transmitting card data.

PCI DSS 88

PCI DSS Compliance Encryption Assessments 88

Global Fintech & Digital Assets

DECEMBER 11, 2023

By April 29, 2024, certified entities must comply with the amended risk assessment, cybersecurity policy, penetration testing and monitoring, training, and audit requirements. By April 15, 2024, covered entities’ CISOs and CEOs (or other highest-ranking executives) must certify compliance.

Cybersecurity 59

Cybersecurity Multifactor Authentication Risk Assessment MFA 59

Global Fintech & Digital Assets

NOVEMBER 7, 2023

Issuance of Tokenised Securities: Intermediaries issuing Tokenised Securities remain responsible for the arrangement, regardless of outsourcing to third party service providers. The SFC may require Product Providers to demonstrate the soundness of the arrangements, and obtain audits and legal opinions.

Distributed Ledger Technology (DLT) 52

Distributed Ledger Technology (DLT) Security Settlement Risk 52

CB Insights

FEBRUARY 21, 2019

This manual verification process also increases the likelihood of errors and can involve multiple third-party service providers. This approach requires the commitment of significant time and effort for due diligence and financial verification. These factors can be costly and slow down the due diligence process.

Blockchain 78

Blockchain Due Diligence Legal Transactions 78

Nanonets

MAY 7, 2024

Outsourced Reconciliation Some businesses choose to outsource their expense reconciliation tasks to third-party service providers. Outsourced reconciliation services typically involve sending expense data to a specialised firm or accounting service, which handles the reconciliation process on behalf of the business.

Reconciliation 52

Reconciliation Best Practices Credit Cards Compliance 52