Vendors’ independent audit (SSAE) and SOC reports are an integral part of financial institutions’ due diligence programs. There are distinct differences between the types of audits (SOC1, SOC2, and SOC3), the periods that they cover (Type 1 or Type 2), and the data security measures they describe.
October 7, 2025—Tens of trillions of consumer dollars flow through U.S. banks and credit unions each year across domestic and global money...
July 14, 2025—In 2004, the Check 21 Act ushered in a new digital era, streamlining the handling of paper checks and greatly enhancing secu...
March 25, 2025—Check fraud costs financial institutions millions annually and check fraud methods are increasingly sophisticated. Fi...
February 10, 2025—As tax season approaches, millions of Americans prepare to file their returns, and about 20% of tax refunds will be issu...
June 1, 2024—The 2024 AFP Payments Fraud and Control Survey Report published by the Association for Financial Professionals in April 2024 ...