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$8 million penalty to NYDFS – and another case of over-retention

Data Protection Report

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.

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Multinational ICICI Bank leaks passports and credit card numbers

Security Affairs

ICICI Bank leaked millions of records with sensitive data, including financial information and personal documents of the bank’s clients. 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.

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AI Governance: Why our tested framework is essential in an AI world

Collibra

Our framework is informed by our definition of AI governance: AI governance is the application of rules, processes and responsibilities to drive maximum value from your automated data products by ensuring applicable, streamlined and ethical AI practices that mitigate risk, adhere to legal requirements and protect privacy.

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Record Retention is a Key Component of Your Privacy and Cyber Compliance Program

Data Protection Report

Likewise, the New York State Department for Financial Services regulations requires relevant entities to have appropriate record retention policies and procedures. For a long time companies have been more focused on the risk of losing data than on retaining too much data. In the U.S.,

Privacy 144
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The Impact of Data Protection Laws on Your Records Retention Schedule

ARMA International

The records retention schedule is the foundational document for a records management program. By doing this, an organization retains necessary business information while saving money and resources by disposing of unnecessary information that would otherwise drive up the cost of storage, data migration, and litigation. 2 DLA Piper.

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Record Retention is a Key Component of Your Privacy and Cyber Compliance Program

Data Protection Report

Likewise, the New York State Department for Financial Services regulations requires relevant entities to have appropriate record retention policies and procedures. For a long time companies have been more focused on the risk of losing data than on retaining too much data. In the U.S.,

Privacy 52
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Getting ready for artificial general intelligence with examples

IBM Big Data Hub

According to Andreessen Horowitz (link resides outside IBM.com ) , in 2023, the average spend on foundation model application programming interfaces (APIs), self-hosting and fine-tuning models across surveyed companies reached USD 7 million. The AGI analyzes the data and identifies a rare genetic mutation linked to a specific disease.