Posts Tagged ‘authorities’
February 15, 2015 | 
Author Vizor Simplifies FATCA and AEOI Reporting Obligations for Tax Authorities
Ottawa, Canada (PRWEB) January 22, 2015
Vizor, the leading regulatory supervision software provider, today introduced new features that help Tax Authorities meet their Foreign Account Tax Compliance Act (FATCA) obligations as well as provide support for Automated Exchange of Information (AEOI) with one, out of the box solution. Chief among these is the ability to automatically exchange information with the 98 other jurisdictions becoming operational in 2016 and beyond.
“The US is just the first jurisdiction requiring Foreign Financial Institutions (FFIs) to report client account information, similar laws are already being passed in China, the U.K. and in other countries all over the world” said Conor Crowley, Managing Director and Co founder of Vizor, the provider of Vizor for FATCA & AEOI. “Tax Authorities that do not implement a fully-automated technical solution to comply with the OECD’s global standard for AEOI are going to find themselves continually pulled away from their primary functions, and spending more and more money, as system maintenance quickly becomes overwhelming.”
Vizor for FATCA and AEOI Feature Highlights:
Financial Institution self-registration and account creation.
Tax Authority monitoring and approval workflow for Financial Institution registration.
Financial Institution upload facility for FATCA and CRS data in XML format, as well as manual data entry via web forms for smaller and less sophisticated FIs.
Extensive validation of FATCA and CRS data, including validation against XML schema, validation against account information, GIIN validation, and many additional business rules such as those specified in the “FATCA XML version 1.1 User Guide”.
Configuration options for running in “fully automated” mode so that little or no manual interaction with the system is required for the Tax Authority.
Localization support including right to left languages such as Arabic.
Integration with existing data, such as a domestic taxpayer database to enable record matching.
New Features Provide Significant Benefits to Tax Authorities:
Meet Commitments: Meet FATCA and future AEOI commitments with one, out-of-the-box solution.
Reduce Costs: Vizor for FATCA is a cost-effective solution for Tax Authorities – most solutions built in-house significantly underestimate scope, cost, and complexity.
Save Time: Vizor’s solution can be implemented quickly and efficiently allowing Tax Authorities to easily meet FATCA timelines and deadlines.
Peace of Mind: Vizor Software is proven, secure and trusted technology, implemented across the globe for the collection of highly sensitive data from Financial Institutions.
Operational Efficiency: The Vizor solution can operate in a ‘fully automated mode’ requiring minimal manual intervention, guaranteeing resources are free to focus on core business priorities.
Vizor also offers a free, live, online, tailored demonstration of the software. To learn more about Vizor for FATCA & AEOI and review all of the new features, visit the Vizor website, and follow Vizor on Twitter and LinkedIn.
About Vizor
Since 2000 Vizor Software has been the standard for financial regulatory technology. Leading the way in regulatory supervision software, Vizor is trusted by Central Banks and Financial Regulators from around the globe for the collection and validation of highly complex data from Financial Institutions. Serving the needs of financial regulators in more than 20 countries, Vizor is a trusted partner of large consulting firms and leading XBRL toolset providers. Employing a collaborative, agile approach to implementing regulatory solutions, Vizor simplifies and strengthens financial regulation systems. You can learn more and visit Vizor at http://www.vizorsoftware.com or by following Vizor on Twitter, LinkedIn, Google+ and Pinterest.
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, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.
Posted in Foreign Exchange | 
Tags: AEOI, authorities, FATCA, Obligations, Reporting, Simplifies, Vizor | 
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SecurEnvoy facilitates remote working for staff at city councils and municipal authorities
(PRWEB UK) 17 March 2014
From law enforcement officials to highway surveyors – staff at public authorities often work away from the office. As a result, they need to access city or municipal networks remotely in order to document their assignments. Employees at many such authorities log in via two-factor authentication and identify themselves using dedicated hardware tokens. However, with this approach, the procurement and maintenance costs relating to the tokens can rapidly escalate. An alternative is offered by the manufacturer SecurEnvoy, which has developed a tokenless two-factor authentication method. With this, staff working remotely can easily and efficiently log into networks using devices such as smartphones.
Traditional tokens, such as smart cards, are used in addition to login details in order to provide access authorisation in many companies and organisations. However, the implementation of such methods is often lengthy and replacing defective tokens can become expensive. SecurEnvoy enables companies and organisations to make use of smartphones, laptops or tablets as authentication devices. One of the methods from the SecurAccess solution is to send a dynamically generated password to the mobile devices of employees via SMS or e-mail. The password received is then combined with the user’s login information to enable tokenless two-factor authentication. Staff of public authorities can thus quickly and conveniently access IT networks. Examples such as the London Royal Borough of Kensington and Chelsea illustrate the advantages of tokenless two-factor authentication.
Reduced operating costs
The borough on the western side of the British capital employs thousands of civil servants to take care of the needs of approximately 150,000 inhabitants. In this context, more and more employees are accessing the administration’s main network remotely. For many years, non-office staff carried with them a dedicated, physical token, which generated access codes for network authentication purposes. However, this method proved to be time-consuming and insecure. Tokens were frequently lost or left behind with laptops and the constant need to replace them led to increased operating costs. The management found a better way with a tokenless approach and implemented a tokenless two-factor authentication procedure based on SecurAccess.
“The borough had already equipped more than 1,000 employees with mobile phones. We therefore wanted to make even greater use of this investment and save on the cost of dedicated tokens,” explains Russell Hookway, Network & Telecommunications Manager at the Royal Borough of Kensington and Chelsea. “The good value for money offered was another reason why we really wanted to use the SecurEnvoy technology.”
Security concerns dispelled
The City Council of the Scottish city of Dundee, with a population of 140,000, also successfully uses tokenless two-factor authentication. The City Council’s aim was to address security concerns associated with location-independent network access by employees. In this regard, the City Council is subject to the requirements of the Scottish Government’s Code of Conduct and Compliance (CoCo) for local authorities.
“We wanted to improve the security of our virtual private networks and liked the easy and secure network access process offered by an SMS-based method,” explains Graeme Quinn, IT Team Leader of Dundee City Council. “Almost everyone has a mobile phone nowadays so overall costs can be managed. SecurAccess is a quick and easy solution to security issues related to remote access.”
More rapid processing of requests
In the Dutch province of Gelderland, tokenless two-factor authentication replaced the use of smart cards. Often the cards did not work, which resulted in many calls to the help desk from remote workers and also led to delays in carrying out requests. Card readers are also an issue when people work from home or from personal devices so combined with the issues of deploying certificates to the cards and the usability of the cards themselves, so organisations are finding it quicker, easier and more cost effective to use a tokenless alternative. The public authority contacted SecurEnvoy via a Dutch IT provider and opted for the SecurAccess solution. The positive effects soon became tangible: The processing time for individual remote requests was reduced from almost 50 minutes to about 30 seconds.
To find out more about the SecurEnvoy method, you can register at http://www.securenvoy.com/trial.aspx for a free live demonstration.
About SecurEnvoy plc:
SecurEnvoy is the creator of patented tokenless solutions for two-factor authentication. Millions of users globally already benefit from the fastest mobile authentication process that doesn’t require a token. It uses common devices like mobile and smartphones, tablets and laptops to provide the passcode for authentication. Even without a mobile or internet connection the user can retrieve the code via voice call or identification with the One Swipe technology that relies on a QR code scan. The product range of the company based in London (UK), Frankfurt (D), New York and San Diego (USA) includes the SecurAccess solution. The administration tools can be easily integrated into existing IT infrastructures and allow administrators to add up to 100,000 users per hour. SC Magazine awarded the solution ‘Best Buy’, this compliments being awarded leading visionary in Gartner’s Magic Quadrant. SecurEnvoy has a customer base in all verticals including banking, finance, insurance, government, manufacturing, marketing, retail, telecoms, charity, law and construction. The authentication expert collaborates with partners such as AEP, Astaro, Cisco, Checkpoint, Citrix, Juniper, F5, Palo Alto, Sophos, etc. See http://www.SecurEnvoy.com for further information.
Further information:
SecurEnvoy Ltd.
Steve Watts
Sales Director
E-mail: swatts(at)securenvoy(dot)com
Internet: http://www.securenvoy.com
Global HQ:
SecurEnvoy Global HQ
Merlin House
Brunel Road
Theale
Reading
RG7 4AB
USA branch I:
SecurEnvoy
373 Park Ave South
New York,
NY 10016
USA branch II:
SecurEnvoy
Mission Valley Business Center
8880 Rio San Diego Drive
8th Floor San Diego CA 92108
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Germany
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©Copyright 1997-
, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.
Posted in Personal Finance | Tags: authorities, City, Councils, facilitates, municipal, remote, SecurEnvoy, staff, Working | 5 Comments »