Essential Insights from Wanda Borges of Borges & Associates LLC

The upcoming World Credit Congress in Orlando, scheduled for October 14-16, will feature a crucial session on "Cybersecurity and Fraud Prevention in the Accounts Receivables Management Industry" presented by Wanda Borges. This timely presentation addresses the growing concerns in the Accounts Receivable Management (A.R.M.) industry regarding cyber threats and fraudulent activities.

About Wanda Borges

Wanda Borges brings a wealth of experience to this presentation. As the principal member of Borges & Associates, LLC, a certified Minority and Women's Business Enterprise law firm in Syosset, New York, she has over four decades of expertise in commercial litigation and creditors' rights in bankruptcy matters. Her impressive credentials include serving as a Past President of the Commercial Law League of America and holding a position on the Board of the International Association of Commercial Collectors.

Borges is widely recognized for her educational programs and articles on legal matters relevant to corporate credit departments and attorneys. Her contributions to the field have earned her numerous accolades, including the prestigious "Robert E. Caine Award for Leadership". Since 2009, she has been consistently listed in New York Super Lawyers – Metro Edition for her expertise in Bankruptcy & Creditor/Debtor Rights.

Session Overview

The session on "Cybersecurity and Fraud Prevention in the Accounts Receivables Management Industry" aims to equip credit professionals and debt collection agencies with essential knowledge and strategies to protect sensitive data, secure financial transactions, and prevent fraud in an increasingly digital landscape.

Key Topics

Cybersecurity Fundamentals and Emerging Threats

Ms. Borges will explore the common cyber threats targeting the A.R.M. industry, including phishing, ransomware, and identity theft. Attendees will learn how to recognize potential system attacks, whether working onsite or remotely, emphasizing the importance of vigilance in all work environments.

Data Protection and Fraud Prevention Best Practices

The presentation will cover best practices for safeguarding customer information and detecting fraud. This knowledge is crucial for maintaining the integrity of financial transactions and protecting sensitive data in the A.R.M. industry.

Regulatory Compliance

With the ever-evolving landscape of data privacy regulations, Borges will discuss compliance requirements specific to the A.R.M. industry. This information is vital for organizations to avoid legal pitfalls and maintain trust with their clients and customers.

Real-World Case Studies

To illustrate the real and present dangers faced by the industry, Ms. Borges will present case studies of actual cyberattacks and fraud incidents. These examples will serve to highlight the risks and underscore the critical importance of implementing robust security measures.

Credit Card Fraud

Given the increasing prevalence of credit card use, Ms. Borges will dedicate a portion of her presentation to discussing credit card fraud. She will explore how some cyber-crime groups specifically target payment card information, providing insights on how to protect against these threats.

The Significance of the Session

The A.R.M. industry deals with vast amounts of sensitive financial and personal data, making it an attractive target for cybercriminals. As technology advances, then so do the methods employed by these bad actors. This session comes at a crucial time when the industry must stay ahead of these evolving threats to protect both their operations and their clients' interests.

Ms. Borges' presentation will not only raise awareness about the current cybersecurity landscape but also provide actionable strategies for prevention and mitigation. By attending this session, participants will gain valuable insights that can be immediately applied to strengthen their organizations' cybersecurity posture and fraud prevention measures.

The inclusion of real-world examples and case studies will bring these concepts to life, demonstrating the potential consequences of inadequate security measures and the benefits of robust cybersecurity practices. This practical approach will help attendees understand the tangible impact of cybersecurity measures on their day-to-day operations and long-term business sustainability.

In conclusion, Wanda Borges' session on "Cybersecurity and Fraud Prevention in the Accounts Receivables Management Industry" at the World Credit Congress promises to be an invaluable resource for professionals in the A.R.M. industry. By combining her extensive legal expertise with practical insights into cybersecurity and fraud prevention, Ms. Borges will provide attendees with the knowledge and tools necessary to navigate the complex digital landscape of modern Accounts Receivable Management.

The World Credit Congress 2024 takes place in Orlando, 14-16 October. To secure your space at this unmissable event visit www.worldcreditcongress.com/registration/

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The upcoming World Credit Congress 14-16 October in Orlando is set to host a highly anticipated panel discussion on "Regulatory Compliance and Credit Policy - The Global Discussion." This session promises to be a cornerstone event, bringing together industry experts to explore the intricate relationship between regulatory compliance and credit policy in an increasingly globalized financial landscape.

The panel boasts an impressive lineup of professionals, each bringing a unique perspective to the table:

Sarah J Auchterlonie

Sarah Auchterlonie is a former federal bank regulator turned private practice attorney, specializing in consumer finance law. With experience at the U.S. Treasury and CFPB, she now advises financial institutions on regulatory compliance and consumer protection. Sarah authored "Consumer Finance Law and Compliance" and serves on Colorado's State Banking Board. Her unique background bridges consumer advocacy and regulatory expertise.

Josef Busuttil

An MBA graduate from Henley UK and a Fellow of the Chartered Institute of Credit Management (FCICM), Josef Busuttil is a prominent figure in the credit management industry. He co-founded the Malta Association of Credit Management in 2021 and has been a council member of the Federation of European Credit Management Associations (FECMA) since 2003, serving as its President from 2016 to 2020.

The panel is set to explore six crucial areas that are shaping the future of credit policy and regulatory compliance:

1. EU Late Payment Directive's Global Impact

The discussion will kick off by examining the ripple effects of the EU Late Payment Directive on global credit policies and cash flow management. This topic is particularly relevant as businesses worldwide grapple with the challenges of maintaining healthy cash flows while adhering to diverse regulatory frameworks.

2. Balancing Compliance and Flexibility

A critical challenge in today's business environment is striking the right balance between regulatory compliance and maintaining the flexibility needed for effective credit risk assessment. The panel will explore strategies to achieve this delicate equilibrium, ensuring that businesses can make informed credit decisions while staying within regulatory boundaries.

3. Cross-Border Regulatory Challenges

As businesses expand globally, they face the complex task of implementing consistent credit policies across jurisdictions with varying regulations. The panellists will share insights on navigating these cross-border challenges, offering valuable perspectives for multinational corporations and businesses eyeing international expansion.

4. Technology in Compliance and Risk Management

The role of technology in enhancing regulatory compliance and credit risk management cannot be overstated. The discussion will likely cover emerging technologies such as artificial intelligence, machine learning, and blockchain, and their potential to revolutionize how businesses approach compliance and risk assessment.

5. Evolving Credit Policy Frameworks

With the financial landscape in constant flux, credit policy frameworks must evolve to address emerging risks and adapt to regulatory changes. The panel will explore proactive approaches to policy development that can help businesses stay ahead of the curve.

6. ESG and Sustainable Finance Integration

The final topic addresses the growing importance of Environmental, Social, and Governance (ESG) considerations in credit policies. As sustainable finance regulations gain traction globally, the panel will discuss strategies for harmonizing credit policies with these new imperatives.

Global Perspectives

The diverse backgrounds of the panellists promise to bring a truly global perspective to the discussion. Sarah Auchterlonie's experience with U.S. regulatory bodies like the CFPB and FDIC will provide valuable insights into the American regulatory landscape. Meanwhile, Josef Busuttil's extensive involvement with European credit management associations will offer a European viewpoint, particularly relevant when discussing the EU Late Payment Directive.

This global outlook is crucial as businesses increasingly operate across borders, facing a patchwork of regulatory requirements. The panel's insights will be invaluable for attendees looking to develop robust, globally-applicable credit policies that remain compliant with diverse regulatory frameworks.

Implications for Credit Professionals

For credit professionals attending the World Credit Congress, this panel discussion represents a unique opportunity to gain insights into the future of their field. The topics covered will touch on several key areas that are likely to shape credit management practices in the coming years:

1. Regulatory Adaptation: Understanding how to adapt credit policies to evolving regulatory landscapes without sacrificing business agility.

2. Technological Integration: Exploring how to leverage new technologies to enhance compliance efforts and improve risk assessment accuracy.

3. Global Strategy Development: Learning strategies for developing credit policies that can be effectively implemented across different regulatory jurisdictions.

4. Sustainable Finance: Gaining insights into the integration of ESG considerations into credit policies, a growing area of focus for many organizations.

5. Risk Management Evolution: Understanding how credit risk assessment practices are evolving in response to new regulatory challenges and emerging risks.

Broader Industry Impact

The discussions in this panel are likely to have ripple effects beyond just the credit management field. As regulatory compliance and credit policy intersect with various aspects of business operations, insights from this session could influence:

- Financial Strategy: How businesses structure their financial operations to optimize cash flow while remaining compliant.

- International Expansion: Strategies for companies looking to expand globally while navigating diverse regulatory environments.

- Technology Investment: Decisions on which technologies to adopt for enhancing compliance and risk management capabilities.

- Sustainability Initiatives: How businesses integrate sustainability considerations into their financial decision-making processes.

The "Regulatory Compliance and Credit Policy - The Global Discussion" panel at the World Credit Congress in Orlando promises to be a landmark event for credit professionals and business leaders alike. By bringing together experts like Sarah Auchterlonie and Josef Busuttil, the panel will offer a comprehensive exploration of the challenges and opportunities at the intersection of regulatory compliance and credit policy.

As the financial world becomes increasingly interconnected and complex, discussions like these are crucial for shaping the future of credit management. Attendees can expect to gain valuable insights that will help them navigate the evolving regulatory landscape, leverage new technologies, and develop credit policies that are both compliant and effective in a global context.

The World Credit Congress, through sessions like this, continues to be a pivotal platform for knowledge sharing and professional development in the credit industry. As regulatory environments evolve and new challenges emerge, the insights gained from this panel discussion will undoubtedly prove invaluable for credit professionals striving to stay ahead in an ever-changing global financial landscape.

Explore the prestigious Global Credit Award at the World Credit Congress. To secure your spot at the Global Credit Awards 2024, visit www.worldcreditcongress.com/registration/ Don't miss out on the Credit Conference 2024 – book your place today!

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