Anti-money laundering (AML) compliance in the mobile money industry has become increasingly important in 2023. With the rise of mobile money transactions, regulatory bodies are ramping up efforts to combat money laundering and terrorist financing. In this infographic, we explore the technology involved in AML screening, the importance of AML compliance in the industry, and best practices for financial institutions.

Following our recent acquisition of Trustpage, we are excited to announce Questionnaire Automation, a solution designed to help organizations in quickly responding to security questionnaires and effectively communicating security and compliance to customers and prospects. This solution utilizes the fastest and most accurate automation technology to provide security questionnaire responses.

Imparting your data to an organization, whether you are a private individual or another organization yourself, requires an incredible amount of trust. How can you be sure that they will handle your sensitive information properly? For specific industries, stringent standards and regulations are in place to ensure cybersecurity. For example, HIPAA for healthcare and PCI DSS for payment card processing companies reassure customers and companies that data is protected.

SOC 2 is a compliance standard for service organizations, developed by the American Institute of CPAs (AICPA), which specifies how organizations should manage customer data. SOC 2 is based on five overarching Trust Services Criteria (TSC): security, availability, processing integrity, confidentiality, and privacy. Specifically, the security criteria are broken down into nine sections called common criteria (CC).

If you operate in specific sectors, cybersecurity maturity is more than a best practice, it’s a regulatory requirement. These regulations are complex and constantly changing. To help you better understand your organization's regulatory environment and the standards and controls they stipulate, let's break down key cyber compliance regulations by industry.

ISO/IEC 27001 is the international standard on information security. It was established by the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC) to stipulate the framework for implementing Information Security Management Systems (ISMS) in an organized and risk-effective way. For this article, we’ll mostly refer to ISO 27001, but know that we’re referring to both ISO/IEC 27001. Got it? Let’s begin!

Data security is a major concern for almost everyone. From organizations to individuals, most of us who use or supply cloud-based services want to ensure that our information stays confidential and accessible. However, these concerns are amplified to national security when government data is the subject. That’s why the U.S.government has a stringent set of security requirements known as FedRAMP®. All cloud vendors that provide services to federal agencies must comply with these standards.

In November 2022, the Criminal Justice Information Services (CJIS) division of the FBI updated its cybersecurity policy, impacting state agencies, police departments, and other organizations that handle Criminal Justice Information (CJI). The updated policy poses challenges for organizations, especially smaller ones, to maintain compliance due to limited resources, lack of expertise and the policy’s complexity.

NIST 800-161 — also identified as NIST Special Publication (SP) 800-161 — was published in April 2015 as Supply Chain Risk Management Practices for Federal Information Systems and Organizations. In May 2022, a year after President Biden’s Executive Order on Improving the Nation’s Cybersecurity, NIST produced a revised version, NIST 800-161 rev. 1 Cybersecurity Supply Chain Risk Management Practices for Systems and Organizations.

A risk register is a tool used to manage potential problems or risks within an organization. It helps to identify and prioritize risks, their likelihood of occurrence, and provides ways to mitigate them. Risk registers allow you to play offense and defense – you’re proactively planning for potential challenges and minimizing their impact on your project’s success in the event that the roadmap does veer off course.