Forgepoint Capital’s Post

🔐 Safeguard your business against financial fraud with these 13 essential tips! From employee education to robust cybersecurity measures, our guide empowers you to fortify your financial defenses. In the realm of accounting services, we prioritize your financial well-being by promoting transparency, rigorous audits, and stringent policies. Stay vigilant through regular bank statement reviews and third-party due diligence. Harness the power of multi-factor authentication and whistleblower programs to create a secure financial environment. Your financial resilience is our top priority! Explore our guide and take proactive steps towards a fraud-free future. ------------------------ We at Offshoretask Management India Pvt. Ltd. have clients from Australia, United Kingdom and Gulf Countries.🌟 Looking for Seamless Accounting services to your Organization?🤩 Contact us Today👇🏻 accounts@offshoretask.com Do Repost if you valued our Insights❤️ #FinancialSecurity #AccountingServices #FraudPrevention

🔐 Safeguard your business against financial fraud with these 13 essential tips! From employee education to robust cybersecurity measures, our guide empowers you to fortify your financial defenses. In the realm of accounting services, we prioritize your financial well-being by promoting transparency, rigorous audits, and stringent policies. Stay vigilant through regular bank statement reviews and third-party due diligence. Harness the power of multi-factor authentication and whistleblower programs to create a secure financial environment. Your financial resilience is our top priority! Explore our guide and take proactive steps towards a fraud-free future. ------------------------ We at Offshoretask Management India Pvt. Ltd. have clients from Australia, United Kingdom and Gulf Countries.🌟 Looking for Seamless Accounting services to your Organization?🤩 Contact us Today👇🏻 accounts@offshoretask.com Do Repost if you valued our Insights❤️ #FinancialSecurity #AccountingServices #FraudPrevention

Financial firms, are you facing the new NYSDFS Part 500 cyber amendments without a proper compliance plan? Don't risk the consequences. Daily non-compliance fines start at $2,500 and can impact any banking, insurance, and financial firm operating in New York. Stay ahead of the risk: skillfully navigate evolving regulations, avoid penalties, protect stakeholders, and cultivate trust. Click here to learn how: https://lnkd.in/gft_yjb2 #PRFTfinancialservices

Six Steps to Protecting Data in Financial Services Companies. Read the full blog: https://lnkd.in/dTAA76Bb #fintech #finance #FinancialIT #data #security #compliance 

Interesting article and it appears that FINTRAC systems worked to detect an insider threat, but it does raise the question of who oversees the overseers and is this truly a one off instance or more common than we know? #Insiderthreats, #conductrisk and #integrity and #security is not only a regulated entity issue, but is just as relevant for the regulators due to the sensitivity of their role, the information they collect and the need for them to lead by example.

Revenue-protecting services play a critical role in safeguarding the financial institution’s operations and customers from potential risks and threats. These services encompass information security measures, anti-money laundering protocols, regulatory compliance procedures, sanction screening, and risk and fraud management strategies. By ensuring compliance with regulations and implementing robust security measures, financial institutions can protect their revenue streams and maintain their reputation and trustworthiness in the market. #InfoSec #cybersecurity #fintech #AILabPage #VinodsBlog #ReadLearnShare

🔸 (BizTech) Financial services firms face more regulations and compliance concerns than other industries due to the inherent risks in financial actions, requiring protection against mismanagement, fraud, and cyberattacks. 🔸 Banks must adhere to various regulations, including SOX, GLBA, PCI DSS, and, in New York, 23 NYCRR 500. 🔸 With banks being highly susceptible to cyber-attacks, compliance is closely tied to cybersecurity. 🔸 IT leaders are increasingly allocating resources to compliance, with investments in governance, risk, and compliance tools expected to grow significantly by 2026. 🔸 Key strategies for maintaining compliance include understanding the regulatory landscape, implementing robust data governance, performing regular audits and continuous monitoring, leveraging automation tools, and investing in data security and encryption solutions. Resources: 🔸 FCI Cybersecurity Services: fcicyber.com 🔸 Buckler Cyber Program Management: buckler.app #fci #cybersecurity #buckler #openvrm #cybercompliance #regulations #cyberregulations #compliance #financialservices #riskmitigation #governance #datasecurity #networksecurity #infosec #cyberdefense https://lnkd.in/ev2tG5uX

In today's fast-paced digital world, the finance and accounting sectors are more vulnerable than ever to scams and fraudulent activities. Scams in finance and accounting can take many forms, from phishing emails and fraudulent invoices to more sophisticated schemes targeting company funds. These can lead to significant financial losses, damage to reputation, and even legal consequences. Every year around EOFY time, I notice a spike in the phishing emails that our team receives and advice everyone to be extra careful during this "silly season". This year was no different. However, this year we had an underrated secret weapon in our arsenal called ApprovalMax, and I'd love to share how it has helped us. We integrated this tool into our workflows with the objective of maintaining a proper audit trail of approvals that seamlessly flow into Xero. Having introduced it into our ecosystem only a couple of months ago, we were already noticing smoother approval processes and less confusion around bill payments. But I had not considered a scenario like the one I experienced. Recently, we received an email from what seemed to be someone inside the organization asking for an urgent payment to be processed. Since these kinds of requests were not unusual from the manager being impersonated by the scammer (which in itself is unnerving), the team went ahead and processed the bill and pushed it into ApprovalMax. The designated Approver logged into their ApprovalMax account as part of their recurring checks, and noticed this bill. They flagged this bill which led to an investigation and we tracked the source only to realize that the email that sent this, was not company internal. Yes, we have IT support and firewalls and a capable accounts team, but sometimes, things may slip through the cracks. This made me realize how critical it is to not just be careful in our jobs, but be smart about how we build our process flows. It's critical for all finance and accounting professionals to remain vigilant and adopt robust measures to protect their organizations from financial losses. I hope this story encourages others to revisit their processes and play the devil's advocate, find the chinks in your armour before someone else does, and rebuild it to be stronger and safer for your organization. #Finance #Accounting #FraudPrevention #ScamAwareness #ApprovalMax #FinancialSecurity #Compliance #EOFY #Xero

Strengthening Your Business with Robust IT Governance... The crucial role of audits. In today’s digital landscape, robust IT governance is essential for small and medium-sized businesses (SMBs), community banks, and credit unions. Our latest article explores the crucial roles of internal audits, external independent audits, formal reviews, and framework certifications in verifying your governance efforts and enhancing security. 🔹 Internal Audits: Identify weaknesses, improve processes, and ensure compliance. 🔹 External Audits: Provide unbiased evaluations and enhance credibility. 🔹 Formal Reviews: Conduct comprehensive assessments and manage risks proactively. 🔹 Framework Certifications: Gain formal recognition and competitive advantage. Discover how these elements can build trust with your employees and customers while lowering risks and cyber insurance premiums. Read the full article here. https://lnkd.in/gbbWTWgS Ready to strengthen your IT governance? Contact iTGC for a free consultation and learn how we can help secure your business.

We will be running a webinar series in May to help you manage your APP11 requirements. The latest Director Sentiment Survey demonstrates the need to help businesses automate compliance, reduce data risk and get back to business. Reach out to the #umlautsolutions team if you need help reducing data risk and automating compliance. #datagovernance #APP11 #GRC #datasecurity