Procedures Regulatory Compliance Third-Party Service Provider 
VISTA InfoSec
OCTOBER 20, 2023
Service Continuity : Ensures essential healthcare services remain operational. Regulatory Compliance : Meets requirements like HIPAA that mandate disaster recovery plans. Testing and Revision Procedures (Addressable) : Enforce strategies for regular testing and modification of contingency plans.
Stax
AUGUST 22, 2024
PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks. Major risk factors for PayFacs include fraudulent transactions, merchant credit risk, regulatory compliance, and operational risks.
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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. This harmonization allows for more straightforward navigation and understanding of the required audit procedures.
Nanonets
MAY 7, 2024
Overall, expense reconciliation is critical to ensuring financial accuracy, regulatory compliance, fraud prevention, efficient budget management, and informed decision-making. Outsourced Reconciliation Some businesses choose to outsource their expense reconciliation tasks to third-party service providers.
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