security
Money and you
The difference between PCI compliance and GDPR: What businesses need to know
GDPR and PCI DSS are two different ways of protecting data, but they cover separate areas with distinct security standards. Compliance with both sets of regulations is vital for finance and ecommerce businesses as well as other digital services. It means that companies always need to know the basics of both to create a secure environment. We’ll be looking at the subject of data security and how Genome is a provider that ensures its clients’ payment details and other data are kept safe at all times. Data protection and payment compliance are crucial subjects, so read on to find out
Security
ISO 27001 vs ISO 27701: what’s the difference?
To compare ISO 27001 vs. 27701, we need to see how both of these international standards work. While ISO 27001 focuses on information security management, ISO 27701 focuses on data privacy. They’re both used by many companies that store or process personal data and other types of information. We’ll be looking at both of these standards to compare them and clarify the differences. Find out how they affect businesses and how to use them as part of a continuous improvement program. What is ISO 27001? ISO 27001 is the standard covering information security management. Published by the International Organization for
Security
What is PCI compliance? A complete guide for businesses
Nowadays, businesses that accept credit card payments must follow a comprehensive set of strict rules to ensure that sensitive customer data is protected. The name for this ruleset is Payment Card Industry Data Security Standard, or in short, PCI DSS. PCI compliance specifically is the rules of adhering to this standard in order to safeguard payment card data, cardholder data, and prevent fraud or data breach incidents. PCI DSS compliance is a generally accepted standard that applies to all organizations handling any type of operation involving debit or credit card transactions, cardholder data, or other payment information. In this guide,
Security
What is anti-money laundering, and how it protects against financial fraud
Anti-money laundering rules are in place all over the world. It is a crucial matter for businesses, as they have a legal obligation to prevent money laundering. It means that consumers need to be aware of the extra steps they have to carry out. Financial institutions have to ensure that their processes are designed to detect money laundering activities and other types of financial crime. Find out what money laundering is and how exactly the financial system has to stop it in this Genome article. Anti-money laundering explained Money laundering is the process of disguising the origins of cash that
Product news
Genome brings a major security-related update to its app
At Genome, your security is our top priority, as our team continually works to improve features that enhance the protection of your money and data. That’s why we’re excited to announce a security update launching in June for your Genome app! It is an upgrade to the two-factor authentication (TFA) process. Just a reminder, a TFA is used to verify your identity using at least two factors: something you know (a password), something you have (your phone), or something you are (like a fingerprint). Thus, if an unauthorized party attempts to log into your accounts, perform transfers, or take other
Security
How to prevent chargeback fraud: a step-by-step guide
Chargeback fraud occurs when a customer disputes a transaction on their bank card. They claim not to have received the goods or services they paid for, so they start the chargeback process to try and reclaim the money. But is it true or a fraud attempt? It’s crucial that businesses know what a fraudulent chargeback involves. We can then look at how to reduce the risk of being affected by this fraud and how to dispute chargebacks safely. What is chargeback fraud, and why does it happen Legitimate chargebacks happen when a customer disputes a payment they’ve made. It can
Company
Genome reaches a milestone in security and personal data protection with ISO 27001 and 27701
When it comes to enhancing the security of the Genome platform, our team never stops. Our team is well aware of all the pitfalls when it comes to running and maintaining the safety of financial services, which is why we are always on top of the latest security-related solutions in the industry. And, the team is happy to see that our efforts in this field paid off! Genome is now ISO 27001 and ISO 27701 certified, meaning we apply effective security measures to protect our clients’ data up to the highest of industry standards. What is ISO 27001? ISO 27001
Money and you
Is Black Friday worth it? A financial guide
Originally a U.S. post-Thanksgiving shopping event, Black Friday has transformed into a global retail frenzy. The promise of huge discounts and exclusive Black Friday deals excites people’s minds from all over the world. Savvy shopping requires smart financial services, like we have in Genome, to optimize spending during sales and get the best deal on Black Friday. Find out more in the article below. Understanding Black Friday deals A Black Friday deal is a time-limited discount that allows huge savings from the original price. These deals are often heavily advertised, targeting high-demand products to attract as many people as possible
Security
Love is scammed: what is romance fraud
Have you recently received any random messages professing eternal love for you? Well, don’t be in a rush to respond – this is likely a primitive romance scheme. But sometimes, this type of fraud is not so obvious. Let Genome help you figure it out. In this article, we uncover the meaning behind romance scams and explain how these can be avoided. What is a romance scam? Like in many other fraudulent cases, the criminal creates a fake identity and starts surfing dating sites or social media. There, the fraudster starts corresponding with people, trying to quickly establish a “romantic