Innovative Payment Solutions, Inc. 10-K Cybersecurity GRC - 2024-03-29

Page last updated on July 16, 2024

Innovative Payment Solutions, Inc. reported their cybersecurity risk management and governance process in a yearly 10-K filed on 2024-03-29 12:48:57 EDT.

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10-K filed on 2024-03-29

Innovative Payment Solutions, Inc. filed a 10-K at 2024-03-29 12:48:57 EDT
Accession Number: 0001213900-24-027769

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Item 1C. Cybersecurity.

Item 1C. Cybersecurity The manner in which we store and/or transmit sensitive data in connection with our payment processing solutions is an important part of how we operate and plan to operate. We recognize the importance of assessing, identifying, and managing material risks associated with cybersecurity threats, as such term is defined in Item 106(a) of Regulation S-K. These risks include, among other things: operational risks, intellectual property theft, fraud, extortion, harm to employees and violation of data privacy or security laws. Identifying and assessing cybersecurity risk is integrated into our overall risk management systems and processes. Cybersecurity risks related to our business, technical operations, privacy and compliance issues are identified through review by our internal information technology governance, risk and compliance policies. To defend, detect and respond to cybersecurity incidents, we, among other things: may conduct proactive privacy and cybersecurity reviews of systems and applications, audit applicable data, conduct employee training, monitor emerging laws and regulations related to data protection and information security and implement appropriate changes. Our risk management program also assesses third party risks, and we perform third-party risk management to identify and mitigate risks from IPSIPay Express and third parties like OpenPath, EfinityPay, vendors, suppliers, and other business partners associated with our use of third-party service providers. Cybersecurity risks are evaluated when determining the selection and oversight of applicable third-party service providers and potential fourth-party risks when handling and/or processing our employee, business or customer data.

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