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Managing Security Risks with Virtual Bookkeeping

CFO Share

But many fear remote bookkeeping exposes them to security risks – hackers, fraudsters, and embezzlement – especially if the virtual bookkeeping solutions use employees in foreign countries. Bookkeeping security risks are always a valid concern, especially since internal staff perpetrate 57% of small business fraud.

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Navigating the Complexities of Tax Compliance for Financial Services

CFO Plans

These services offer the infrastructure needed to efficiently manage back-office financial management, ensuring tax compliance doesn’t hinder growth. Robust financial systems streamline operations, allowing companies to maintain compliance effortlessly and concentrate on expansion.

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Banks Push Back On Possible Banking Charters For Big Techs Like Amazon And Facebook

PYMNTS

The groups argue that such efforts are secured under the current regulatory regime, and that allowing innovation at the expense of the financial system’s stability isn’t beneficial. A lack of safety and soundness rules will expose the financial system to significant vulnerabilities.”.

Banking 139
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François Masquelier (Simply Treasury): Small is Beautiful

Simply Treasury

Paradoxically, "retail" developments are often faster and more intense than "corporate" developments, notably for reasons of security and integration into the IT systems of large companies. These companies are often managing finance and treasury on separate financial systems which are poorly integrated, if integrated at all.

Treasury 130
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Fed Study: Wholesale Payments Vulnerable In Bank Cyberattack

PYMNTS

Eisenbach, Anna Kovner and Michael Junho Lee, is “Cyber Risk and the US Financial System: A Pre-Mortem Analysis.”. The cyberattack in question could wreak havoc on financial firms. The authors seek to quantify how the attacks may be “amplified” through the financial system. counties, the authors added.

Banking 53
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World’s Best Banks 2024: Global Winners

Global Finance

The banks “failed as a result of a combination of unrealized interest rate losses from their long-term, fixed-rate assets and the loss of the low-rate deposits that had funded these assets,” Larry Wall, research center executive director of the Atlanta Fed’s Center for Financial Innovation and Stability, explained in a blog post.

Banking 107
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The Innovators 2024—Best Financial Innovation Labs

Global Finance

In 2023, the lab honed its focus to concentrate on startups between seed and Series A funding stages. The lab concentrates on several technological areas: AI, data science, immersive media, and the Internet of Things. One innovation that arose from the lab was Financial Manager Ailos 360°. It was created in 2017.