Top predictions for financial services in 2023
OpenText Information Management
JANUARY 5, 2023
With inflation, rising interest rates and general economic uncertainty, last year presented several challenges for financial services institutions (FSIs).
US SEC warns investors of ongoing fraudulent communications claiming from the SEC
Security Affairs
NOVEMBER 21, 2021
The Securities and Exchange Commission (SEC) warns investors of attacks impersonating its officials in government impersonator schemes. The alert recommends investors not provide any personal information in case they receive a communication that appears to be from the Securities and Exchange Commission. ” reads the alert.
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6 best practices for a data governance strategy
Collibra
APRIL 11, 2022
Data governance is a very intricate field, so implementing and sustaining data governance comes with a suite of challenges. Luckily, thousands, if not millions, of organizations use data governance to improve their operations, so you can learn from others’ mistakes and successes. Promote consistent communication.
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Top 6 Best Practices for Data Governance
Collibra
MARCH 11, 2021
Data governance is a very intricate field, so implementing and sustaining data governance comes with a suite of challenges. Luckily, thousands, if not millions, of organizations use data governance to improve their operations, so you can learn from others’ mistakes and successes. Focus on the operating model.
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How financial institutions can deliver value from investment in digital operational resilience
IBM Big Data Hub
DECEMBER 4, 2023
The Digital Operational Resilience Act (DORA) is a landmark piece of legislation in the European Union (EU) that is designed to help fortify the operational resilience of the financial sector, making it fit for purpose in the digital age.
U.S. and Foreign Cybersecurity and Intelligence Agencies Recommend Measures to Counteract Threat of Russian Cyberattacks
Data Matters
JANUARY 28, 2022
The advisory was promptly endorsed by the National Cyber Security Centre, a division of Government Communications Headquarters (“GCHQ”), a UK intelligence agency. government, especially in light of ongoing tensions between the U.S. This is an important public action by the U.S. and Russia in Ukraine.
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Unmasking 2024’s Email Security Landscape
Security Affairs
FEBRUARY 28, 2024
Targeted Sector Vulnerabilities: Financial Services, IT, Healthcare, Education, and Government sectors have emerged as primary targets, with attackers fine-tuning their strategies to exploit specific vulnerabilities within these industries. About the Author: Stefanie Shank.
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Black Friday and Cyber Weekend: Navigating the Tumultuous Waters of Retail Cybersecurity
Thales Cloud Protection & Licensing
NOVEMBER 20, 2023
The IBM 2023 Cost of a Data Breach Report , for example, highlights the continuous financial burden on retailers, which, coupled with potential reputational damage, emphasizes the dire need for retailers to prioritize and bolster their cybersecurity measures. Governments: Look to global benchmarks.
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Google Yanks 106 ‘Malicious’ Chrome Extensions
Threatpost
JUNE 18, 2020
Trojan Chrome browser extensions spied on users and maintained a foothold on the networks of financial services, oil and gas, media and entertainment, healthcare and pharmaceuticals and government organizations.
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OCR Labs exposes its systems, jeopardizing major banking clients
Security Affairs
APRIL 6, 2023
A digital identification tool provided by OCR Labs to major banks and government agencies leaked sensitive credentials, putting clients at severe risk. Its services are used by companies and financial institutions including BMW, Vodafone, the Australian government, Westpac, ANZ, HSBC, and Virgin Money.
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News Alert: W3C advances technology to streamline payment authentication
The Last Watchdog
JUNE 15, 2023
At transaction time, Secure Payment Confirmation prompts the user to consent to the terms of a payment through a “transaction dialog” that is governed by the browser; the Chrome implementation of the transaction dialog is shown above. SPC is currently available in Chrome and Edge on MacOS, Windows, and Android.
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Navigating the digital wave: Understanding DORA and the role of confidential computing
IBM Big Data Hub
FEBRUARY 5, 2024
The Digital Operational Resilience Act (DORA) marks a significant milestone in the European Union’s (EU) efforts to bolster the operational resilience of the financial sector in the digital age. Furthermore, the RTS Article 6 highlights the necessity for all networked traffic, both internal and external, to be encrypted.
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Multinational ICICI Bank leaks passports and credit card numbers
Security Affairs
APRIL 20, 2023
In 2022, the ICICI Bank’s resources were named a “critical information infrastructure” by the Indian government – any harm to it can impact national security. We’ve also attempted to obtain an official comment from the bank’s communication team. The company recommended contacting the Corporate Communications Team.
Iran-linked APT group Pioneer Kitten sells access to hacked networks
Security Affairs
SEPTEMBER 1, 2020
” PIONEER KITTEN operations leverage on SSH tunneling, through open-source tools such as Ngrok, they also used the custom tool SSHMinion to communication with malware deployed in the target networks. ” continues the report. Copyright (C) 2014-2015 Media.net Advertising FZ-LLC All Rights Reserved -->.
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Unlocking the power of chatbots: Key benefits for businesses and customers
IBM Big Data Hub
JANUARY 18, 2024
Instead of forcing the customer to communicate in your home language, enterprise-grade chatbots can support multiple languages and can even make an educated guess based on the initial input, whether it’s in chat, text or voice. Government Empower citizens to access basic information on paying bills and upcoming events by using chatbots.
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2024 Tech and Cybersecurity Forecast: Navigating New Frontiers in Business
Thales Cloud Protection & Licensing
DECEMBER 20, 2023
The enhanced capabilities of 5G-Advanced will enable seamless integration and communication between a vast array of devices and systems, creating a more interconnected and efficient business environment. It necessitates the development of new models for governance, management, and security.
erwin’s Predictions for 2021: Data Relevance Shines at the End of the Tunnel
erwin
JANUARY 7, 2021
In highly regulated environments, such as financial services, healthcare and pharma, attestations, audit trails and compliance reporting are required regardless of circumstances and will be difficult with a manual, laborious approach. However, that definition is too narrow in terms of AI’s relation to data governance.
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SEC Announces Settled Charges Against First American for Cybersecurity Disclosure Controls Failures – Lessons Learned
Data Matters
JUNE 24, 2021
The SEC is considering enhancing its disclosure rules concerning cybersecurity risk governance and has indicated a target release date of October 2021. provide for open communications between technical experts and disclosure advisers. 2 See Cybersecurity Risk Governance, 3235-AM89, Securities and Exchange Commission (Spring 2021).
GUEST ESSAY: 5 security steps all companies should adopt from the Intelligence Community
The Last Watchdog
DECEMBER 6, 2018
This cycle takes a holistic approach to detecting and deterring external threats and enforcing best-of-class data governance procedures. Businesses at large would do well to model their data collection and security processes after what the IC refers to as the “intelligence cycle.” infrastructure from cyber attacks.
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Hundreds of malicious Chrome browser extensions used to spy on you!
Security Affairs
JUNE 20, 2020
Malicious Chrome browser extensions were used in a massive surveillance campaign aimed at users working in the financial services, oil and gas, media and entertainment, healthcare, government organizations, and pharmaceuticals.
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FCC Seeks to Refresh the TCPA Record
HL Chronicle of Data Protection
MAY 21, 2018
FCC , the Federal Communications Commission is going back to the drawing board in a new Public Notice that seeks comment on foundational TCPA issues. Should contractors acting on behalf of the federal government be considered “persons” under the TCPA? Now that the dust has settled from the D.C. In March, the D.C.
Summary – “Industry in One: Financial Services”
ARMA International
NOVEMBER 7, 2019
The scope of a records and information management (RIM) program in financial services can seem overwhelming. Compared to other industries, the complexities of managing records and information in financial services are arguably some of the toughest to solve, primarily because of the intense regulatory scrutiny.
NYDFS Requires COVID-19 Plans by April 9
Data Protection Report
APRIL 2, 2020
On March 10, 2020, the New York Department of Financial Services (NYDFS) issued guidance to all of its regulated institutions engaged in virtual currency business activity, requiring them to have plans for preparedness to manage the possible operational and financial risks posed by the COVID-19 pandemic.
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59 4 Special Requirements Social Media and Collaboration Create for GDPR Compliance
AIIM
JANUARY 26, 2018
3 -- Governance and oversight. Determining what content is considered “business” communication and when that content should be captured and archived is more complicated than it seems. These policies must be revisited taking GDPR into consideration. 4 -- Information archiving and retention. 4 -- Information archiving and retention.
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Ireland: Large-scale inquiries progress as DPC budget and staff numbers ramp up
DLA Piper Privacy Matters
FEBRUARY 28, 2022
The Annual Report notes that forthcoming EU legislation (NIS2 Directive, Digital Markets Act, Digital Services Act, Artificial Intelligence Act and Data Governance Act) will drive further consideration and priority of data issues. Financial Services Sector Focus. 5 Year Regulatory Strategy.
Chinese LuckyMouse APT has been using a digitally signed network filtering driver in recent attacks
Security Affairs
SEPTEMBER 10, 2018
defense contractors and financial services firms worldwide. The hackers attempted to inject malicious JavaScript code into the government websites connected to the data center. It waits passively for communications from its C2, with two possible communication channels via ports 3389 and 443.
Indonesia Publishes Proposed Data Protection Rule
Hunton Privacy
JULY 17, 2015
On July 14, 2015, pursuant to an implementation requirement of Government Regulation 82 of 2012, the Indonesian government published the Draft Regulation of the Minister of Communication and Information (RPM) of the Protection of Personal Data in Electronic Systems (“Proposed Regulation”). 82 of 2012.
Cachet Financial Reeling from MyPayrollHR Fraud
Krebs on Security
OCTOBER 24, 2019
“We apologize for the inconvenience of this message,” reads the communication from Cachet that went out to customers just after 6:30 PM ET on Oct. ” In a follow-up communication sent Thursday evening, Cachet said all debit transactions with a settlement date of Oct. But on Oct. 1, 2019 to Aug.
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Russia-Ukraine cyber conflict poses critical infrastructure at risk
Security Affairs
MARCH 14, 2022
Ongoing attacks could cause severe damages to multiple sectors, including transportation, communication, financial services, government facilities, nuclear reactors, and critical manufacturing. ” reported researchers from Cyble.
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How women are leading with data in Spain
Collibra
DECEMBER 9, 2020
In partnership with the Women of Collibra Employee Resource Group, we asked these two data governance professionals about their beginnings in the data industry, what it is like to become a Collibra Ranger and what can be done to promote more women in the field. Laura : Senior Consultant for the Data Governance practice.
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Netsparker Product Review
eSecurity Planet
FEBRUARY 8, 2021
With the Team and Enterprise editions, Netsparker is compatible with a long list of project management, communication, issue tracking, and security platforms including JIRA, ServiceNow, Asana, Slack, AWS, Okta, and Zapier. Government: South Dakota Bureau of Information & Telecommunications. Financial Services: ING.
The aftermath of an incident – why keeping records of data breaches and privacy incidents matters
Data Protection Report
JUNE 14, 2022
For example, organizations operating in the health, telecommunications or financial services industries may be required to keep a record of privacy incidents pursuant to an industry-specific statute or regulation. Records should be stored in such a manner that they can easily be extracted and/or communicated to external parties.
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Record Retention is a Key Component of Your Privacy and Cyber Compliance Program
Data Protection Report
DECEMBER 23, 2019
Likewise, the New York State Department for Financial Services regulations requires relevant entities to have appropriate record retention policies and procedures. How do you build an effective information governance program? Information governance must be an ongoing programme which is valued by senior management.
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Exponential Organizations Start with Internal Business Process Modeling
erwin
SEPTEMBER 12, 2019
But now, even traditional industries like healthcare and financial services, which were historically slow to innovate, are transforming at breakneck speed. Finally – and most important – data governance is no longer the isolated domain of data architects but central to the everyday processes that make an organization tick.
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Business Architecture and Process Modeling for Digital Transformation
erwin
JULY 11, 2019
The company realized that different generations want different information and have distinct communication preferences. For instance, millennials are adept at using digital channels, and they are the fastest-growing customer base for financial services companies.
Grove Pension Solutions fined £40,000 for PECR violation
IT Governance
APRIL 2, 2019
T he pensions firm ’s campaign, which took place between October 2016 and October 2017, violated the PECR (Privacy and Electronic Communications Regulation s ). . The PECR states that organisations must obtain explicit consent whenever they send unsolicited electronic communications for marketing purposes.
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Senate Passes Cybersecurity Information Sharing Act
Hunton Privacy
OCTOBER 28, 2015
CISA is intended to facilitate and encourage the sharing of Internet traffic information between and among companies and the federal government to prevent cyber attacks, by giving companies legal immunity from antitrust and privacy lawsuits. The Securities Industry and Financial Markets Association’s President and CEO Kenneth E.
Proposed Amendments to NY Financial Services Cybersecurity Regulations Impose New Obligations on Large Entities, Boards of Directors and CISOs
Hunton Privacy
AUGUST 15, 2022
On July 29, 2022, the New York Department of Financial Services (“NYDFS”) posted proposed amendments (“Proposed Amendments”) to its Cybersecurity Requirements for Financial Services Companies (“Cybersecurity Regulations”). The risk assessments required by Section 500.9
“Am I a CII operator?” – New regulation in China provides more clarity
Data Protection Report
AUGUST 18, 2021
In addition, some companies have received an official notice that it is a CII, but we expect more to come so companies operating in sensitive or highly regulated sectors like energy, financial services, and telecoms should be aware that the issuance of a notice still remains a possibility.
UK: The ICO and the FCA Agree on Strengthened Co-operation and Collaboration
DLA Piper Privacy Matters
MARCH 1, 2019
The MoU sets out the principles of collaboration and the legal framework governing the sharing of relevant information and intelligence. The FCA is the conduct regulator for 58,000 financial services firms and financial markets in the UK and the prudential regulator for over 18,000 of those firms. promote competition.
FinCEN Issues Notice on Reporting COVID-19 Criminal and Suspicious Activities, Companion Advisory on COVID-19-Related Medical Scams
Data Matters
MAY 21, 2020
Government Agencies — Whom to Contact. For suspected COVID-19 related crimes, the Notice suggests financial institutions should consider contacting the following government agencies: Suspected fraud schemes related to COVID-19 : Contact National Center for Disaster Fraud (NCDF) hotline (+1 866 720 5721). See ( [link] ).
e-Discovery 68
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US: Coronavirus – Cybersecurity considerations for your newly remote workforce
DLA Piper Privacy Matters
APRIL 2, 2020
Governments and cybersecurity experts are reporting a surge in COVID-19-related phishing activity. Employees may be reminded to use government or trusted news sources for information about COVID-19 and to verify the URL for such sites before interacting with them. Enabling “safe searching” browser security features can help.
Understanding China’s Data Regulatory Regime: What Are Important Data? And Can They Be Transferred Outside Of China?
Data Matters
APRIL 11, 2022
Once finalized, it will be enacted by the State Council (China’s central government) as an “administrative regulation”, which is subordinate to the national laws (e.g., Companies can take such opportunities to communicate with the regulators and help shape future policy.
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Managing the regulatory risks of cybersecurity: An evolving regulatory landscape
CGI
MAY 26, 2016
Overlapping SEC and FINRA cybersecurity-related requirements target the following areas: Governance and risk assessment. In this environment, financial institutions are advised to set up and maintain a cybersecurity program that will hold up to regulators’ expectations. Impacted areas. Access rights, controls and confidentiality.
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