Remove Business Continuity Remove Encryption Remove Third-Party Service Provider
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New York Bolsters Cybersecurity Requirements

Global Fintech & Digital Assets

Requirements related to business continuity and disaster recovery have also been included for the first time. Encryption: The Amendments remove covered entities’ ability to rely on alternative compensating controls for the requirement to encrypt non-public information in transit over external networks.

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Understanding Risk Management Strategies as a PayFac

Stax

Implementing an effective risk management framework can help you minimize the impact of potential threats, ensure business continuity, and recover quickly in the face of adversity. Cyberattacks, human errors, third-party service provider failures, and system disruptions all come under operations risk.