Continuity Procedures Third Party Vendors 
PYMNTS
AUGUST 13, 2018
“Historic compromises have included small to medium-[sized] financial institutions [FIs], likely due to less robust implementation of cybersecurity controls, budgets or third-party vendor vulnerabilities.
PYMNTS
OCTOBER 30, 2020
It gives a wealth of intelligence, where now you can say, 'in this one facility that needs to continue running, I'm dependent on one main vendor that's got a very high risk score. Because people have to be more agile in their operations, they'll rely on contractors and supply chain vendors more," he noted.
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Finovate
OCTOBER 16, 2024
Additionally, banks should create robust communication procedures with other banks in the FedNow network in order to resolve reversals and other issues quickly. Because FedNow operates 24/7, banks need to ensure they have adequate infrastructure and staffing to support continuous operations.
Segpay
OCTOBER 18, 2023
They continuously change tactics and employ various methods to evade detection. Ongoing Compliance Requirements: Merchants may have to implement strict compliance measures and continuous monitoring to prevent future transaction laundering activities.
Core
MARCH 19, 2024
3 Prevalent Types of Government Payment Fraud Government fraud detection and prevention begins with understanding the primary ways in which payment fraud occurs: vendor payments, payroll, and procurement. However, local governments often lack continuous transaction monitoring capabilities.
PYMNTS
AUGUST 20, 2018
“Historic compromises have included small to medium-[sized] financial institutions [FIs], likely due to less robust implementation of cybersecurity controls, budgets or third-party vendor vulnerabilities. The FBI recommended several steps to hopefully head off such an attack.
Nanonets
SEPTEMBER 25, 2024
Monitor extraction accuracy and implement feedback loops to improve the process continuously. Regularly train staff on adjustment procedures to minimize errors. ML tools continuously learn from new transaction data, enhancing their ability to flag anomalies that deviate from established patterns.
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