VISTA InfoSec

JUNE 19, 2024

Best Practices for Securing Video Communication Choose the Right Platform When evaluating different platforms, assess their security features comprehensively. Define who can create and manage meetings and establish procedures for sharing meeting links and passwords to control access.

Risk

EBizCharge

OCTOBER 25, 2023

Now more than ever, businesses are focusing on preventing data breaches and implementing response protocols to mitigate breaches if they occur. According to the 2023 IBM Data Breach Report , the global average cost of data breaches was $4.45 What are data breaches?

Data Breach

Stax

MARCH 6, 2024

By the end of this guide, you’ll have `a clear overview of its operational framework, strategic benefits, best practices, and advanced strategies to maximize this powerful, rapidly rising payment tool. This includes encryption and tokenization of payment data, secure storage practices, and regular security audits.

Best Practices

VISTA InfoSec

FEBRUARY 28, 2024

Changes Core Focus Limiting database access to programmatic methods (apps, stored procedures) and database administrators. It must include both numbers and letters. (This requirement is a best practice until 31 March 2025.) Look at your system settings to make sure these password rules are enforced. Requirement v3.2.1 (8.7)

PCI DSS

VISTA InfoSec

JULY 5, 2023

Adherence to these regulations is paramount for safeguarding sensitive patient information from data breaches and cyber attacks. From March 2021 to March 2022, the average cost of a data breach in healthcare was over $10 million, up from $9.23 Thus, protecting EHRs is crucial to avoid data breaches from hackers. million people.

PCI DSS

VISTA InfoSec

AUGUST 22, 2023

Addressing these risks necessitates robust security measures, encryption, access controls, and breach response plans. Facts on Biometric Data Breaches and Fines Under GDPR 1. Establish internal controls, procedures, and mechanisms of accountability to identify and address any compliance gaps. Clearview AI Inc.

Privacy

Segpay

DECEMBER 13, 2024

If a breach occurs, identity data, once compromised, is hard to restore. For example, a leaked password can be changed, but a stolen fingerprint cannot, underscoring the need for secure storage and encryption practices in identity management. What are the important technologies for data privacy?

Privacy

VISTA InfoSec

FEBRUARY 13, 2024

This proactive stance enhances Singapore’s resilience against cyber threats and also serves as a model for global best practices in cybersecurity. Develop and Practice Incident Response Plans An effective incident response plan is a critical component of any organisation’s cybersecurity strategy.

Cybersecurity

Stax

JANUARY 8, 2024

Not only must PayFacs safeguard themselves and their clients against potential threats like fraud or cybersecurity breaches but also ensure PCI compliance , customer due diligence, and adherence to card regulations. The potential impact of failed or inadequate internal systems, processes, procedures, etc.

Risk Management

VISTA InfoSec

NOVEMBER 12, 2024

Moreover, it reduces potential financial and reputational damage from data breaches and fines. Incident response : SaaS businesses need a documented incident response plan that details how to handle a data breach if one occurs ( Requirement 12.10 ). and 10.2 ).

PCI DSS

VISTA InfoSec

NOVEMBER 12, 2024

Moreover, it reduces potential financial and reputational damage from data breaches and fines. Incident response : SaaS businesses need a documented incident response plan that details how to handle a data breach if one occurs ( Requirement 12.10 ). and 10.2 ).

PCI DSS

Clearly Payments

JANUARY 8, 2024

Security, Compliance, and Regulatory Risk: Cybersecurity risk involves the threat of data breaches and unauthorized access to sensitive payment information. Chargeback Management Best Practices Chargebacks pose a significant challenge for merchants, impacting both financial stability and reputation.

Risk Management

PYMNTS

MAY 24, 2019

However, with this growth comes the increased risk of data breaches and fraud. The devices have no authentication or encryption procedures, allowing outside attackers to access the devices simply by guessing the product code. Intelligence of Things (IoT) devices are continuing to gain popularity. About the Tracker.

Data Breach

The Fintech Times

APRIL 23, 2024

In its latest bank security investigation, researches tested banking website and app security across four key criteria – login procedures, security best practice, account management and navigation and logout, which were amalgamated to give a total score and revealed a variety of concerns. While Which?

Addressing

Stax

JANUARY 15, 2024

PCI DSS compliance, a global framework, mandates specific requirements and best practices for maintaining credit card data security. In the following sections, we’ll delve into the legal framework, compliance standards, and best practices to navigate the complexities of surcharging. Security audits.

Credit Cards

The Finance Weekly

OCTOBER 13, 2021

Here are the best practices for getting started, from consolidating multiple companies' financials onto a single ledger to deciding which company's enterprise resource planning (ERP) system to stick with (or, in some cases, an even more difficult task—deciding to start from scratch and implement an entirely new ERP system): 1.

Risk Management

Stax

AUGUST 22, 2024

Identity theft, data breaches, and chargeback fraud are some of the most common types of risks. It can also help to teach them about best practices they can follow to prevent fraudulent transactions. Payfacs need to have regular AML screenings and strictly implement KYC procedures.

Risk Management

FloQast

OCTOBER 27, 2023

Typically, compliance management will also include Identifying appropriate controls, Managing relationships with various regulators, Coordinating or responding to regulatory concerns and inquiries, and Mitigating regulatory breaches Why is Compliance Management Important? Here are some compliance management best practices worth considering.

Compliance

PYMNTS

MAY 31, 2016

The Belgium-based Society for Worldwide Interbank Financial Telecommunication, better known as SWIFT , said it may also make security practices that are optional in its system — such as two-factor authentication of payment instructions — a requirement for all customers.

SWIFT

PYMNTS

APRIL 9, 2018

The high-profile data breach that hit Saks and Lord & Taylor was already eclipsed just days later when news of possible similar attacks at Best Buy, Delta and others hit headlines. Gartner research director Ruggero Contu cited high-profile attacks, like the Equifax breach , as a key motivator behind this spend.

Data Breach

Neopay

AUGUST 5, 2024

Effective safeguarding training covers the policies, procedures, and regulations that must be adhered to in order to minimise risks and maintain compliance with regulatory standards. Effective training reduces the risk of financial loss and data breaches through informed and vigilant staff.

Compliance

Fi911

NOVEMBER 7, 2023

Why is it non-negotiable for financial institutions across the globe, and how can you ensure that your institution is compliant with all AML procedures? This framework encompasses a series of regulations, policies, and procedures. These may align with industry best practices or other regulatory frameworks.

AML

PYMNTS

AUGUST 7, 2019

The digital ID industry is devoting an immense amount of effort and capital to protecting digital identities as data breaches and privacy concerns continue to make headlines on a regular basis. Data breaches’ stakes are sky high for corporations, meaning ID security is even more important to the United States federal government.

Multifactor Authentication

PYMNTS

OCTOBER 24, 2016

“For a fraudster, they just need to find a mechanism by which to breach an ATM once and pay for that once,” but for a firm that operates the ATM (and it’s never, really, singly), it needs to combat that fraudster’s mechanism “hundreds, if not thousands, of times.

ATM

Basis Theory

OCTOBER 1, 2024

Costs to Maintain and Assess PCI Compliance You'll need to draft, socialize, and track adherence to policies and procedures required by the PCI DSS. If an actual data breach does occur, companies can also expect fines for anyone whose data has been breached or has been affected in some way by a data breach.

PCI DSS

Neopay

OCTOBER 3, 2024

Key takeaway : If your business deals with high-risk clients, it’s crucial to implement enhanced due diligence procedures. Developing an agile response plan to deal with regulatory inquiries or breaches can help limit damage and ensure quick resolution. Training and continuous support : Compliance is an ongoing process.

Financial Crimes

Seon

JUNE 24, 2024

It prevents issues such as payment fraud, account fraud (and misuse), loan fraud, and conducting business with high-risk individuals , as well as a stipulated practice for anti-money laundering (AML) compliance. Employee training on identity risk management best practices strengthens organizational defenses.

Risk Management

Nanonets

SEPTEMBER 25, 2024

We'll also guide you through setting up an efficient bank statement processing system and share best practices to transform this data flood into a strategic asset. 💡 Best practices:  1.   💡 Best practices:  1. 💡 Best practices:  1.

Process

FICO

FEBRUARY 16, 2021

It marks the highest fine ever issued to a lender for what it deemed a breach of consumer credit rules. It is worth noting the bank’s management team apologised, quickly revised operating procedures and worked fast to resolve errors. Forbearance Best Practice and Upholding Customer Engagement Standards.

Best Practices

Segpay

MAY 1, 2024

This involves ensuring payment service availability, reliability, and security by preventing disruptions, data breaches, and unauthorized access to sensitive customer information, thereby maintaining trust and confidence in digital service providers. Protect Consumer Interests: DORA aims to protect consumer interests.

Cybersecurity

FloQast

MARCH 1, 2024

The following recommendations help ensure your compliance procedures pay off. This involves scrutinizing areas of the organization and its financial reporting procedures for any potential fraud risks. Some examples of external fraud risks include vendor fraud and data breaches. Consider both internal and external fraud risks.

Audit

Nanonets

MAY 31, 2023

Lack of clarity and guidelines : Unclear policies and procedures can hinder the effectiveness of the spending approval process. It is important to establish clear guidelines on spending thresholds, approval levels, documentation requirements, and escalation procedures. Communicate spending policies and procedures clearly.

Process

Neopay

JUNE 27, 2024

Compliance policies and procedures: Develop comprehensive compliance policies and procedures that address key regulatory requirements, such as anti-money laundering (AML) and Know Your Customer (KYC) obligations (see below). Staff training: Provide regular training to your staff on AML obligations, red flags, and reporting procedures.

Financial Crimes

Nanonets

DECEMBER 25, 2023

These claims contain a comprehensive record of medical procedures, diagnoses, and associated costs. Manual Processing and Administrative Burden Healthcare claims processing often involves cumbersome manual procedures, from the submission of claims to their review and approval. Our software is GDPR, HIPPA, and SOC-2 compliant.

AI

EBizCharge

MAY 14, 2024

Improved accuracy Automated billing software is programmed to follow predefined rules and procedures consistently, minimizing the risk of human error inherent in manual billing processes. Now that you know how to set up automated billing, you should familiarize yourself with some best practices for implementing it into your business.

Automation

EBizCharge

JULY 16, 2024

Entities handling this information must ensure storage and transmission encryption, preventing unauthorized access and potential breaches. This harmonization allows for more straightforward navigation and understanding of the required audit procedures. NACHA compliance requirements are reviewed and updated annually.

NACHA

EBizCharge

MAY 24, 2024

By securely managing credit card data and transactions, businesses can protect their operations against fraud and data breaches. By eliminating procedural delays and offering convenient payment options, embedded payments in Sage help businesses deliver top-tier customer service to generate positive engagement and repeat business.

Embedded Payments