IT Governance

AUGUST 26, 2021

A new approach to work requires careful consideration – and one of your biggest concerns should be your compliance posture. This might be fine if your only concern is productivity, but if you also have regulatory compliance challenges, you may feel compelled to install such software. Protecting employees’ privacy.

Compliance 119

Compliance Data breaches Privacy Risk 119

Data Matters

AUGUST 19, 2020

On July 21, 2020, the New York State Department of Financial Services (NYDFS or the Department) issued a statement of charges and notice of hearing (the Statement) against First American Title Insurance Company (First American) for violations of the Department’s Cybersecurity Requirements for Financial Services Companies, 23 N.Y.C.R.R.

Financial Services 68

Financial Services Cybersecurity Insurance Risk 68

HL Chronicle of Data Protection

APRIL 17, 2020

Continuing its focus on COVID-19’s impact on its regulated entities, on April 13, the New York Department of Financial Services (NYDFS) released new cybersecurity guidance in response to the COVID-19 pandemic. Third Party Risk. Third-party vendors may struggle to deal with COVID-19 restrictions.

Financial Services 75

Financial Services Risk Cybersecurity Phishing 75

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. For certain other requirements, regulated entities will have between one and two years to reach compliance.

Cybersecurity 72

Cybersecurity IT Compliance Financial Services 72

Data Matters

FEBRUARY 10, 2021

On February 4, 2021, the New York Department of Financial Services (NYDFS) issued Circular Letter No. This includes not only recruitment of those with cybersecurity experience and skills but a commitment by insurers to these employees’ training and development so as to “properly understand and evaluate cyber risk.”. 1 See W.B.

Insurance 79

Insurance Financial Services Cybersecurity Risk 79

The Last Watchdog

JULY 11, 2023

Conduct employee training and awareness programs. Investing in comprehensive employee training and awareness programs is essential for a security-conscious environment. Active awareness of security developments allows for adaptable strategies in addressing emerging risks and effectively protecting investor data.

IT 189

IT Encryption Risk Financial Services 189

Data Protection Report

JANUARY 18, 2024

On January 3, 2024, the New York Department of Financial Services announced a consent order with GGT, where GGT agreed to pay NYDFS $8 million and to surrender its BitLicense (for cryptocurrency trading), due to alleged violations of NYDFS’ cybersecurity and its virtual currency regulations.

Cybersecurity 110

Cybersecurity Financial Services Compliance Encryption 110

IBM Big Data Hub

DECEMBER 18, 2023

For organizations of all types—and especially those in highly regulated industries such as financial services, government, healthcare and telco—considerations including the rise of generative AI, evolving regulations and data sovereignty laws and ongoing security challenges must be top of mind.

Cloud 70

Cloud Financial Services Compliance Digital transformation 70

IBM Big Data Hub

AUGUST 1, 2023

We are bringing the power of foundation models with the availability of a GPU as a service on IBM Cloud offering to help organizations tap into artificial intelligence (AI) in a secured environment while aiming to mitigate third- and fourth-party risk.

Financial Services 68

Financial Services Computer and Electronics Cloud Digital transformation 68

Hunton Privacy

JULY 1, 2022

On June 24, 2022, the New York State Department of Financial Services (“NYDFS” or the “Department”) announced it had entered into a $5 million settlement with Carnival Corp.

Cybersecurity 115

Cybersecurity Insurance Phishing Financial Services 115

Hunton Privacy

JUNE 9, 2022

Licensees must annually certify their compliance with these information security program requirements in writing to the Vermont Deputy Commissioner of Insurance (the “Commissioner”) by April 15 and maintain records supporting the certification for five years. Cybersecurity Event Investigation and Notification Requirements.

Insurance 107

Insurance Security Information Security Cybersecurity 107

Data Protection Report

AUGUST 2, 2022

Organizations should also be aware of sector-specific statutory obligations which may apply to them, for example in health or financial services industries. In this post we discuss the operational advantages of a good privacy breach record-keeping program. Risk management and mitigation. M&A and Securities law.

Compliance 137

Compliance Privacy Risk Financial Services 137

eSecurity Planet

JANUARY 21, 2021

Governance, risk, and compliance (GRC) software helps businesses manage all of the necessary documentation and processes for ensuring maximum productivity and preparedness. It includes multi-disciplinary risk and compliance management solutions and tools, including: IT & security risk management. Compliance management.

Compliance 57

Compliance Risk Government Retail 57

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. A policy or standard needs to be set, which is then explained by training and is measured. In the U.S., How do you build an effective information governance program?

Privacy 144

Privacy Compliance Personal data Risk 144

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. Behind every system, software, and security protocol stands a human being.

Retail 83

Retail Cybersecurity Financial Services Encryption 83

IBM Big Data Hub

JUNE 7, 2022

The announcement highlighted the crucial role of training data, and the terrible consequences of using data that “fails to represent American society.”. As an example, a large financial services firm could easily deploy hundreds or thousands of AI models to assist decision makers in various tasks.

Government 52

Government Financial Services Compliance Cloud 52

IBM Big Data Hub

JUNE 26, 2023

Possibilities are growing that include assisting in writing articles, essays or emails; accessing summarized research; generating and brainstorming ideas; dynamic search with personalized recommendations for retail and travel; and explaining complicated topics for education and training. What can you do now to scale generative AI responsibly?

Retail 71

Retail Compliance Risk Education 71

Security Affairs

JUNE 20, 2023

Various data sovereignty challenges arise for many businesses, such as cross-border data transfers, compliance with differing data protection laws, and protecting sensitive information from unauthorized access. Organizations adopting DDR should prioritize integrating these components within their cybersecurity infrastructure.

Compliance 83

Compliance Cybersecurity Risk Encryption 83

Data Protection Report

APRIL 22, 2021

On April 14, 2021, the New York Department of Financial Services (NYDFS) announced a $3 million settlement with insurance company National Securities Corp. Finally, the regulation includes an annual certification of compliance, to be filed with NYDFS. Training and monitoring materials. NYDFS Cybersecurity Regulation.

Cybersecurity 94

Cybersecurity Financial Services Phishing Compliance 94

Thales Cloud Protection & Licensing

DECEMBER 20, 2023

This development model enables enterprises to conduct model training and processing directly at the edge or on-premises. By moving computation and model training to the edge, organizations can train their models locally without uploading datasets to hyperscalers or relying on foundational models.

Cybersecurity 83

Cybersecurity Blockchain Artificial Intelligence Encryption 83

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

KnowBe4

FEBRUARY 14, 2023

This means you have a bunch of users that unwittingly follow a set of unusual and unnecessary clicks that they should know better than to follow – something they learn very quickly if they are enrolled in new-school security awareness training. Blog post with links: [link] Are Your Users Making Risky Security Mistakes? You're not alone.

Phishing 84

Phishing Security awareness Compliance Risk 84

Data Matters

JUNE 24, 2021

3 The SEC and its staff followed the September 2017 statement with various cybersecurity-related initiatives and guidance, including January 27, 2020, cybersecurity guidance and observations published by the SEC’s Division of Examinations (formerly Office of Compliance Inspections and Examinations). 20, 2017). 27, 2020). 5 83 FR 8166 (Feb.

Cybersecurity 68

Cybersecurity Financial Services Risk Compliance 68

The Last Watchdog

MARCH 31, 2020

Over the years processes, training and tooling to account for data privacy and data integrity have been woven in, driven by data breach lawsuits and the rise of data handling regulations. Automating security-by-design There is one thing DevOps can’t get around: compliance with data handling rules and regulations. Enter DevOps.

Security 194

Security Privacy Financial Services Risk 194

The Last Watchdog

JANUARY 30, 2019

Turn the corner into 2019 and we find Citigroup, CapitalOne, Wells Fargo and HSBC Life Insurance among a host of firms hitting the crisis button after their customers’ records turned up on a database of some 24 million financial and banking documents found parked on an Internet-accessible server — without so much as password protection.

Risk 147

Risk Financial Services Insurance Cybersecurity 147

eSecurity Planet

SEPTEMBER 10, 2021

What compliance requirements does the provider support? Train your staff. To prevent hackers from getting their hands on access credentials for cloud computing tools, organizations should train all workers on how to spot cybersecurity threats and how to respond to them. Double-check your compliance requirements.

Cloud 119

Cloud Security Encryption Risk 119

Collibra

AUGUST 14, 2023

It should clearly define the problem that the AI model solves, the data used to train the model, the desired outcomes, and the personas involved. If you’re in financial services, maybe you’re considering how to incorporate AI into fraud detection, or personalized customer service, denial explanations or financial reporting.

Government 52

Government Risk Financial Services Compliance 52

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. A policy or standard needs to be set, which is then explained by training and is measured. In the U.S., How do you build an effective information governance program?

Privacy 52

Privacy Compliance Personal data Risk 52

IBM Big Data Hub

SEPTEMBER 27, 2022

Whether it be financial services, employee hiring, customer service management or healthcare administration, AI is increasingly powering critical workflows across all industries. Add navigating complex compliance regulations and standards to the mix, and the need for a solid and trustworthy AI strategy becomes clear.

Government 52

Government Compliance Data science Financial Services 52

IBM Big Data Hub

JANUARY 12, 2024

Cloud-hosted AI services demand the transfer of sensitive information to external servers, which can raise questions about data ownership, jurisdiction and control. The global nature of cloud providers introduces a complex web of compliance challenges as data protection laws differ across regions.

Cloud 105

Cloud Data Privacy Encryption Privacy 105

Data Matters

APRIL 20, 2021

A formal vendor selection program that maintains records of vendors’ responses to the questions would further strengthen the program’s maturity and the plan sponsor’s ability to demonstrate compliance with the Cybersecurity Guidance. Obligations of Service Providers Responsible for Plan-Related IT Systems and Data.

Cybersecurity 68

Cybersecurity Insurance Risk Compliance 68

Data Protection Report

NOVEMBER 16, 2022

The big takeaway here is that even businesses that are not primarily engaged in financial services may still find themselves covered by GLBA and shielded from BIPA because “significantly [engaged] means something less than primary.” DePaul University , Case No. 21C3001 at 5 (N.D. Ill Nov 4, 2022).

Financial Services 98

Financial Services Privacy Compliance Insurance 98

IBM Big Data Hub

JANUARY 10, 2024

Some example use cases to highlight: Confidential AI: leverage trustworthy AI and while ensuring the integrity of the models and confidentiality of data Organizations leveraging AI models often encounter challenges related to the privacy and security of the data used for training and the integrity of the AI models themselves.

Security 78

Security Cloud Data Privacy Financial Services 78

eSecurity Planet

FEBRUARY 11, 2022

Rather than doors, locks and vaults, IT departments rely on a combination of strategies, technologies, and user awareness training to protect an enterprise against cybersecurity attacks that can compromise systems, steal data and other valuable company information, and damage an enterprise’s reputation. Maintaining Regulatory Compliance.

Risk 140

Risk Cybersecurity Encryption Access 140

Data Protection Report

JANUARY 7, 2019

The two-year transitional period under the New York State Department of Financial Services (“DFS””) Cybersecurity Regulation , 23 NYCRR 500 (the “Regulation”), will expire on March 1, 2019, with the final remaining requirement becoming effective.

Cybersecurity 40

Cybersecurity Compliance Financial Services Risk 40

Rocket Software

FEBRUARY 25, 2022

A deep technical understanding isn’t required with the right solution, meaning business users can benefit from these tools without extensive training or continuous support from IT teams. Engaging automation can ensure around-the-clock compliance to protect against costly fines. Minimize Risk and Improve Resiliency.

Compliance 59

Compliance Financial Services Risk Insurance 59

Hunton Privacy

APRIL 27, 2017

Earlier this month, the New York State Department of Financial Services (“NYDFS”) recently published FAQs and key dates for its cybersecurity regulation (the “NYDFS Regulation”) for financial institutions that became effective on March 1, 2017. September 27, 2017 – the initial 30-day period for filing Notices of Exemption ends.

Cybersecurity 53

Cybersecurity Compliance Financial Services Insurance 53