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Paycor FinCEN

You want to protect your business. We can help.

You wouldn’t blindly put your hard-earned money into a dubious investment scheme. You should also apply that same diligence and caution when you’re selecting a payroll company for your business. It would be foolish to simply trust any company with your employee data.

At Paycor, we’ve taken major steps to protect our clients’ data. And we’re proud to say that we go above and beyond industry standards with that protection. In the past few years, we’ve all read the news articles about instances of fraud, misdirected funds, and increasingly sophisticated security compromises involving payroll providers. Here’s what we’re doing to protect our clients and mitigate risk.

Nacha Certification

All companies that move money via Automated Clearing House (ACH) are required to adhere to Nacha rules which govern processes and procedures. Every Nacha-certified company much conduct an annual Nacha Audit and provide the results to Nacha. But we’re not just Nacha Certified. Paycor has gone even further beyond the Nacha Audit by providing full transparency to Nacha. The organization has evaluated our policies and procedures, risk, financials, and overall compliance structure and certified us with the highest designation they provide. We work with Nacha on an annual basis to ensure we are holding to the highest standards of compliance so we can maintain our designation. As a result, our clients can rest easy knowing that we handle their business with the utmost compliance and transparency.

FinCEN Registration

The Financial Crime Enforcement Network (FinCEN) is a division within the U.S. Treasury Department. FinCEN coordinates with financial institutions and law enforcement agencies throughout the U.S. to identify and prevent financial crime. By registering as a Money Servicing Business with FinCEN, we agree to combine efforts with other financial institutions in investigating and reporting on financial crimes including money laundering, fraud, and terrorism financing through a compliant Anti-Money Laundering (AML) program. Through this process, we communicate with our clients regarding potential fraud and money laundering events and take proactive measures to prevent them. Our clients can be confident that we’re being vigilant in spotting and preventing financial crime that could have a devastating effect on their businesses.

Privacy Shield

We’re dedicated to proactively supporting our clients’ ever-evolving privacy needs and obligations to help us ensure that our products are compliant and adhering to industry best practices. We have demonstrated this commitment to privacy by certifying with the U.S. Department of Commerce under Privacy Shield covering all jurisdictions that they certify in the European Union and Switzerland. The certification provides data protection requirements when transferring personal data between the European Union and Switzerland and the United States. Anyone interested in viewing these certifications can find us and our subsidiaries on the Privacy Shield Participant List.

Service Organization Controls (SOC) Certification

We are committed to providing our clients with transparent, compliant solutions for securely storing their confidential employee data. In order to meet this objective, we believe it’s important to demonstrate that we have the right controls in place to protect their data and finances. This is more than a simple bullet list showing that we’ve conducted independent audits of our financial statements; have solid data encryption, endpoint protection, and anti-virus systems; employ a dedicated fraud team and a staff of security professionals with industry-recognized certifications; carry cybercrime insurance; and support our clients with features like multi-factor authentication and change notifications. Instead, we go beyond the bullets and have our financial and security controls audited annually against the SOC framework by a national third-party firm. An SOC report gives our clients the opportunity to evaluate the effectiveness of our controls of data availability and governance to our defensein-depth strategy for physical, financial, and technical security, as well as other business critical operations.

If you’re interested in discovering more information about how we can use continuous improvement, ongoing associate education, and best-in-class industry security practices to keep your company safe, you can request a copy of our SOC audit or visit Paycor Security to learn more about our robust security management program.

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