Company: FLYW
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027078
Chunk: 91

Company: Flywire Corp
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1
Chunk 91
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 bring more familiar solutions to our clients’ customers and to leverage their regulatory insight. This insight can be a valuable tool to deliver differentiated services to our clients to help them stay in front of laws that may impact their business. For example, in India, we addressed new tax withholding requirements for our clients’ customers and deployed a solution to help with their education-related payments. 

•Currency controls and exemptions.    We have developed robust controls designed to comply with the requirements of handling cross-border payments. For example, in certain jurisdictions where it is required, we are able to help track and prove purpose-driven payments through digital document collection and verification integrated with our clients’ systems. 

•Transaction-level risks.    Our payments platform subjects payments to a series of controls, to mitigate the risk of facilitating fraud, money laundering, or transactions subject to sanctions. Payment information, historical activity and user behavior are utilized to identify potentially fraudulent transactions. All payments are monitored for suspicious behavior consistent with money laundering or terrorist financing, and all alerted activity is investigated by our internal team of experienced analysts. We also screen sender and receiver information, along with geolocation data, against relevant international watch lists. 

•Dedicated, experienced and globally dispersed risk, information/physical security and internal audit function.    We have consistently maintained a dedicated risk and security team – led by our Chief Information Security Officer – that is global in nature and devises and supports Flywire’s strategy of risk reduction and 

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business process and information protection excellence by assuring confidentiality, integrity and availability of electronic information. We have also developed an internal audit program utilizing internal and external auditors focused on policies and processes, testing our controls, and reporting on a regular basis to our Audit Committee. Among the focal points are the risk and security program areas:

orisk mitigation through outreach, awareness, internal training, assessment, policy development and adoption of best practices;

obuilding and maintaining secure access protocols and network architecture;

omonitoring of networks and systems to protect against, detect and eradicate malicious activity and ensure regulatory compliance;

omanaging continuity of operations planning for critical information systems;

oresponding to security breaches to contain incidents and improve protocols;

oregulatory “horizon scanning” and managing and enforcing compliance with global regulations (Sarbanes-Oxley, FERPA, HIPAA, GDPR, ADA and others);

omanaging physical security, health and safety (office, business travel and FlyMates);

odeveloping and enforcing our vendor due diligence program; and

oresponding to external