Cybersecurity Disaster Recovery Due Diligence 
PYMNTS
MAY 15, 2017
The news that hit Friday afternoon that malware and ransomware were racing across the globe at a breakneck pace, infecting computers at companies across verticals and causing havoc, brought cybersecurity to top of mind, yet again. . In prior years, a company may have used a third party to supply raw material or parts.
Stax
AUGUST 22, 2024
Thorough due diligence, technology, and adherence to regulatory guidelines are essential in a PayFac’s risk management strategy. You need thorough due diligence, technology, and adherence to regulatory guidelines in your risk management strategy. The due diligence doesn’t stop at onboarding.
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Global Fintech & Digital Assets
MARCH 5, 2024
Banks’ contingency and disaster recovery arrangements should cover any disruption to the outsourced services. In particular, they should adequately disclose risks, including in respect of the distributed ledger technology network utilised, cybersecurity, limitation on transfers, and settlement finality.
Nanonets
DECEMBER 13, 2023
The audit trail acts as a comprehensive record, demonstrating due diligence in regulatory adherence. In the realm of cybersecurity, AI tools detect and respond to threats in real-time, securing claims data from unauthorized access. Adaptability to Regulatory Changes: Regulations in the insurance industry are subject to change.
Neopay
JUNE 27, 2024
This includes implementing robust customer due diligence processes, screening arrangements, customer risk assessment, transaction monitoring systems and ongoing due diligence reviews and risk assessments. This includes redundant systems, backup facilities, and disaster recovery procedures.
The Payments Association
MARCH 20, 2025
The second pillar, cybersecurity and risk management, has become increasingly complex as cybercriminals exploit the rise of digital payments and remote working. Having robust contingency plans, backup systems, and disaster recovery mechanisms ensures that, in the event of a failure, operations can continue with minimal impact.
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