IT Governance

NOVEMBER 23, 2023

Perhaps even more concerning to EU lawmakers is how dependent society at large is on banking and other financial services. In turn, financial institutions heavily depend on ICT to be able to provide those services to begin with. That really shouldn’t surprise us – these are lucrative targets for cyber criminals.

Risk 104

Risk Data breaches Authentication Financial Services 104

Thales Cloud Protection & Licensing

APRIL 29, 2024

The Evolving Legislative and Compliance Landscape: A Roadmap for Business Leaders madhav Tue, 04/30/2024 - 05:32 Trust is the currency of the digital economy. The Thales 2024 Trust Index report indicates that 87% of consumers expect vendors to respect their digital rights, which leads to trusted relationships.

Compliance 71

Compliance Cybersecurity Risk Manufacturing 71

Thales Cloud Protection & Licensing

NOVEMBER 4, 2020

Financial Services Organizations Need to Adapt their Security Practices to the Shifting Environment. Even “traditional banks” seek to drive more revenue from digital products, personalized services and experiences. At the same time, financial services organizations need to adapt to a shifting global environment.

Financial Services 62

Financial Services Security Digital transformation Encryption 62

Hunton Privacy

FEBRUARY 7, 2023

On January 26, 2023, the Centre for Information Policy Leadership (“CIPL”) at Hunton Andrews Kurth responded to a call for input from the UK’s Digital Regulation Cooperation Forum (DRCF) on its workplan for 2023 – 2024.

Data Privacy 61

Data Privacy Blockchain Compliance Privacy 61

IBM Big Data Hub

MARCH 20, 2024

Organizations in the financial services, healthcare and other regulated sectors must place an even greater focus on managing risk—not only to meet compliance requirements, but also to maintain customer confidence and trust. Similarly, in the U.S.

Cloud 80

Cloud Financial Services Risk Business Services 80

The Last Watchdog

FEBRUARY 15, 2024

15, 2024 – Harter Secrest & Emery LLP , a full-service business law firm with offices throughout New York, is pleased to announce that it has been selected as a NetDiligence-authorized Breach Coach ® , a designation only extended to law firms that demonstrate competency and sophistication in data breach response. Rochester, N.Y.

Data breaches 100

Data breaches Financial Services Big data Retail 100

Data Protection Report

JANUARY 18, 2024

2024 was not a happy new year for Genesis Global Trading, Inc. (“GGT”). Cybersecurity Regulation NYDFS found a number of issues with respect to GGT’s lack of compliance with the cybersecurity regulation, starting with the required risk assessment. This post will focus on the cybersecurity regulation issues. (For

Cybersecurity 110

Cybersecurity Financial Services Compliance Encryption 110

Data Protection Report

APRIL 23, 2024

On 22 April 2024, the Financial Conduct Authority ( FCA ) published a speech by its chief executive, Nikhil Rathi, entitled ‘Navigating the UK’s Digital Regulation Landscape: Where are we headed?’. The FCA also sets out its next steps.

Financial Services 45

Financial Services IT Marketing Retail 45

Hunton Privacy

NOVEMBER 8, 2023

On November 1, 2023, New York Governor Hochul announced that the New York State Department of Financial Services (“NYDFS”) amended its Cybersecurity Regulation applicable to covered financial institutions. Regulated entities generally have until April 29, 2024 to comply with the amended Regulation.

Cybersecurity 72

Cybersecurity IT Compliance Financial Services 72

Thales Cloud Protection & Licensing

SEPTEMBER 18, 2023

According to the 2022 Thales Data Threat Report – Financial Services Edition , 52% of U.S. financial services organizations report that they have experienced a data breach in the past. was released on March 31, 2022, and before we know it, businesses will face the compliance deadline of March 31, 2024.

Compliance 77

Compliance Financial Services Data breaches Encryption 77

IBM Big Data Hub

DECEMBER 18, 2023

As we look ahead to 2024, enterprises around the world are undoubtedly evaluating their progress and creating a growth plan for the year to come. For example, in financial services, the payments ecosystem is an inflection point for transformation.

Cloud 70

Cloud Financial Services Compliance Digital transformation 70

Thales Cloud Protection & Licensing

FEBRUARY 12, 2024

Why organizations need to prioritize a PQC-readiness lab madhav Tue, 02/13/2024 - 05:25 It’s an exciting time for technology – we are on the cusp of seeing some innovative and disruptive new technologies emerge that will have impacts on every industry and sector around the globe. Don’t delay – begin to get ready for PQC today.

Artificial Intelligence 71

Artificial Intelligence Cloud Risk Digital transformation 71

Data Protection Report

FEBRUARY 2, 2024

On January 17, 2024 the New York Department of Financial Services (“NYDFS”) published a Proposed Insurance Circular Letter (“Proposed Circular”) regarding the use of artificial intelligence systems (“AIS”) and external consumer data and information sources (“ECDIS”) in insurance underwriting and pricing.

Insurance 77

Insurance Artificial Intelligence Risk Compliance 77

Data Protection Report

NOVEMBER 2, 2023

On November 1, 2023, the New York Department of Financial Services (NYDFS) finalized the second amendment to its cybersecurity regulations, which are available here. c)), or Monday, April 29, 2024. a)(2) [automated scans], 500.7, [risk assessment] 500.14(a)(2) a)(2) [risk-based controls] and 500.14(b)

Cybersecurity 105

Cybersecurity Compliance Financial Services Government 105

Hunton Privacy

JUNE 9, 2022

Licensees must conduct a risk assessment to create a WISP “commensurate with the size and complexity of the licensee, the nature and scope of the licensee’s activities, including its use of third-party service providers, and the sensitivity of the nonpublic information.” Enforcement and Penalties Under the Law.

Insurance 107

Insurance Security Information Security Cybersecurity 107

IBM Big Data Hub

FEBRUARY 26, 2024

The financial services industry has been in the process of modernizing its data governance for more than a decade. How can banks, credit unions, and financial advisors keep up with demanding regulations while battling restricted budgets and higher employee turnover? The Basel Committee released BCBS 239 as far back as 2013.

Financial Services 101

Financial Services Cloud Metadata Digital transformation 101

Thales Cloud Protection & Licensing

JANUARY 10, 2024

Navigating the EU-US Data Protection Framework sparsh Thu, 01/11/2024 - 05:26 On 10 July 2023, the European Commission adopted a new adequacy decision regarding the Data Privacy Framework (“DPF”). This follows the invalidation of the EU-US Privacy Shield, by the Court of Justice of the European Union on 16 July 2020.

Data Privacy 83

Data Privacy Personal data Privacy Cloud 83

IBM Big Data Hub

APRIL 18, 2024

Nearly all respondents reported promising early results from gen AI experiments and planned to increase their spending in 2024 to support production workloads. 46% of survey respondents in 2024 showed a preference for open source models. Financial services AGI might revolutionize financial analysis by going beyond traditional methods.

Artificial Intelligence 90

Artificial Intelligence Marketing e-Delivery Manufacturing 90

IT Governance

JANUARY 16, 2024

Key dates 7 January 2024 – EU Cybersecurity Regulation enters into force The EU’s Cybersecurity Regulation , which sets out measures for a high common level of cyber security at EU institutions, bodies, offices and agencies, entered into force on 7 January. In the meantime, if you missed it, check out last week’s round-up.

Data Privacy 52

Data Privacy Privacy Manufacturing Retail 52

IT Governance

JANUARY 23, 2024

Australian government sets out risk-based system to respond to AI The Australian government has launched its plan to respond to the rise in AI, using a risk-based system to impose proportionate controls on its use.

Data Privacy 52

Data Privacy Privacy Manufacturing Retail 52

IBM Big Data Hub

APRIL 11, 2024

A cloud-based infrastructure that uses IBM Cloud® for Financial Services can be the answer to ensure the security, privacy and flexibility needed to keep up with these changes in the industry. Customers are concerned about how AI systems might utilize or handle their personal and financial information improperly.

Cloud 64

Cloud Financial Services Privacy Compliance 64

Thales Cloud Protection & Licensing

JANUARY 22, 2024

Digital Onboarding: Convenience Meets Security in Banking madhav Tue, 01/23/2024 - 06:34 What onboarding in consumer banking was five years ago, where it stands today, and where it's heading is a business-critical change worth both understanding and optimizing. Passkeys, replacing passwords, emerge as the superior authentication choice.

Security 77

Security Authentication Passwords Risk 77

Thales Cloud Protection & Licensing

JANUARY 15, 2024

Financial Supervision in a Digital World madhav Tue, 01/16/2024 - 05:44 If you’ve been working in the finance sector over the past few years, you will have noticed some big changes in the world of financial supervision. Inefficient login portals We see a lot of financial supervisors struggling with these new challenges.

Unstructured data 71

Unstructured data B2B Access Financial Services 71

Thales Cloud Protection & Licensing

APRIL 15, 2024

In High Demand - How Thales and DigiCert Protect Against Software Supply Chain Attacks madhav Tue, 04/16/2024 - 05:25 Software supply chain attacks have been rapidly increasing in the past few years. However, the combined partnership of Thales and DigiCert offers solutions to help protect against these security risks.

Risk 62

Risk Financial Services Retail Cloud 62

Hunton Privacy

FEBRUARY 28, 2024

As reported on the Hunton Employment & Labor Perspectives blog , on February 15, 2024, California lawmakers introduced the bill AB 2930. AB 2930 seeks to regulate use of artificial intelligence (“AI”) in various industries to combat “algorithmic discrimination.” of the proposed bill).

Artificial Intelligence 58

Artificial Intelligence Government Risk Financial Services 58

IT Governance

APRIL 29, 2024

30 April 2024 – ISO/IEC 27001:2013 certification unavailable Certification bodies must stop offering (re)certification to ISO 27001:2013 by 30 April. 30 April 2024 – ISO/IEC 27001:2013 certification unavailable Certification bodies must stop offering (re)certification to ISO 27001:2013 by 30 April.

Data Privacy 94

Data Privacy Privacy Manufacturing Security 94

Data Protection Report

APRIL 9, 2024

On March 27, 2024, the Cybersecurity and Infrastructure Security Agency (“CISA”) published a Notice of Proposed Rulemaking for the Cyber Incident Reporting for Critical Infrastructure Act of 2022 (“CIRCIA”), which imposes new reporting requirements for entities operating in critical infrastructure sectors.

Ransomware 83

Ransomware Agriculture Cybersecurity Government 83

Data Matters

DECEMBER 28, 2020

The GCC uses a risk-based capital (RBC) aggregation approach intended to act as an additional group supervisory tool for regulators, in conjunction with the Form F Enterprise Risk Report, Own Risk and Solvency Assessment (ORSA) report, and the Corporate Governance Annual Disclosure. Proposed revisions to SSAP No.

Insurance 68

Insurance Paper Risk Analytics 68

Collibra

JANUARY 18, 2022

The financial services industry has had a longstanding tradition of being at the forefront of adopting new technologies. According to industry experts, approximately 60% of financial institutions will pursue a multi-cloud strategy in order to mitigate long-term risks and prevent vendor lock-in.

Financial Services 52

Financial Services Cloud Artificial Intelligence Government 52

Thales Cloud Protection & Licensing

MARCH 14, 2024

Keeping Customer Data Safe: AI's Privacy Paradox andrew.gertz@t… Thu, 03/14/2024 - 17:38 AI's appeal lies in its ability to personalize and streamline customer experiences in ways previously unimaginable. This finding is backed up by the Thales 2024 Consumer Digital Trust Index, “Building Digital Experiences that Enhance Consumer Trust.”

Privacy 71

Privacy Data Privacy Analytics Risk 71

Thales Cloud Protection & Licensing

FEBRUARY 28, 2024

How better key management can close cloud security gaps troubling US government madhav Thu, 02/29/2024 - 05:38 In my first blog on this topic I noted a Treasury Department report released last year listed six cloud security challenges financial sector firms face.

Cloud 77

Cloud Government Encryption Security 77

The Last Watchdog

NOVEMBER 16, 2023

As the US’s critical infrastructure stands on high alert , cybersecurity firm Bridewell, spotlights the critical trends and emerging dangers cyber teams must watch out for in 2024. The only thing they won’t do in 2024, is pay taxes. Download the full Cyber Security: What to Expect in 2024 guide.

Ransomware 100

Ransomware Cybersecurity Financial Services Marketing 100