Auditing Digital Payment Systems and Virtual Wallets

Course Objectives:

• Understand the key components of digital payment systems and virtual wallets.
• Identify potential risks and vulnerabilities in digital payment ecosystems.
• Apply appropriate audit techniques to assess the security, compliance, and performance of these systems.
• Develop actionable recommendations to mitigate risks and improve system reliability.

Course Content:

Introduction to Digital Payment Systems and Virtual Wallets

• Overview of digital payment systems and virtual wallets
• Key stakeholders and system components
• Common technologies (e.g., NFC, QR codes, blockchain)
• Regulatory frameworks and compliance requirements

Risk Assessment and Security Challenges

• Identifying risks in digital payments (fraud, cybersecurity threats, operational risks)
• Security standards (e.g., PCI DSS, encryption, tokenization)
• Case studies of payment system breaches
• Developing a risk assessment framework

Audit Methodologies and Tools

• Planning and scoping audits for payment systems
• Key audit areas: authentication, data integrity, transaction processing
• Tools and techniques for auditing (e.g., vulnerability scans, control testing)
• Evaluating system compliance with industry standards

Reporting and Mitigation Strategies

• Preparing an audit report: structure and key elements
• Communicating findings to stakeholders
• Recommending actionable remediation steps
• Continuous monitoring and audit planning