Reciprocity
OCTOBER 7, 2024
Separate Bank Accounts A separate bank account for payroll reduces the number of company assets at risk. Even if an employee commits payroll fraud, the business losses will be limited to that account only. A dedicated payroll account also simplifies audits.
Fusion Risk Management
APRIL 5, 2023
The Impact of Ineffective Resilience Capabilities is Severe Imagine a bank that experiences a catastrophic outage in its IT systems , preventing customers from accessing their accounts for several days. This is exactly what recently happened with TSB Bank and Applied Materials. million customers.
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Fusion Risk Management
APRIL 20, 2022
And just like that, the first milestone on the Bank of England, Prudential Regulation Authority (PRA), and Financial Conduct Authority (FCA) operational resilience regulatory timeline came and went. Reach out to your Account Manager to learn more about this new integration!
Fusion Risk Management
SEPTEMBER 12, 2022
Your customer may ask you to meet a specific SLA in the event of a data breach so that they can activate their incident management processes . Your customer may be subject to third-party outsourcing requirements by their own regulators , like the European Banking Authority’s Outsourcing Requirements , and they may ask to sign an addendum
Erwood Group
JULY 12, 2022
If you have a key contact or account manager there, you can even include, ask for Betty or Steve. Strategy 2 – Utilize Alternate Method – Notify Bank to Utilize Previous Weeks Payroll. The more specific you make it for your business, the better, smoother, quicker, and more efficient your recovery operations will go.
Fusion Risk Management
NOVEMBER 3, 2022
In tightly regulated industries like banking, Compliance Alert notes: “Chief Compliance Officers (CCOs) increasingly face personal liability for corporate wrongdoing and regulatory violations as a change of guidelines and a string of federal enforcement actions have transformed the environment in which CCOs operate.
Fusion Risk Management
JANUARY 5, 2023
Currently, TSPs are subject to financial service providers’ requirements via contractual obligations (such as the European Banking Authority’s third-party outsourcing requirements). For more information, contact your Account Manager or request a demo.
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