The Last Watchdog

JULY 11, 2023

This includes scanning all materials, such as investor onboarding documents and communication. Conduct employee training and awareness programs. Investing in comprehensive employee training and awareness programs is essential for a security-conscious environment. Implement strong data encryption.

IT 161

IT Encryption Risk Financial Services 161

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 109

Cybersecurity Financial Services Compliance Encryption 109

Hunton Privacy

JUNE 9, 2022

Licensees are wholly exempt from the law if they are compliant with the New York Department of Financial Services Cybersecurity Requirements for Financial Services Companies (23 NYCRR §§ 500.0 to 500.23) and they submit a written statement to the Commissioner certifying such compliance.

Insurance 107

Insurance Security Information Security Cybersecurity 107

IBM Big Data Hub

JANUARY 11, 2024

When AIs are trained with content found on the internet, they may often provide convincing and believable dialogss, but not fully accurate responses. Applications on known platforms with thousands of lines of code are ideal training grounds for generative AI models like IBM watsonx Code Assistant for Z.

Digital transformation 109

Digital transformation Cloud Financial Services Business Services 109

Hunton Privacy

JULY 12, 2021

On June 30, 2021, the New York State Department of Financial Services (“NYDFS,” the “Department”) issued guidance to all New York state regulated entities on ransomware (the “Guidance”), identifying controls it expects regulated companies to implement whenever possible.

Ransomware 102

Ransomware Security Financial Services Cybersecurity 102

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

eSecurity Planet

AUGUST 22, 2023

Jump ahead to: Prioritize Data Protection Document Your Response Process Make Users Part of the Process Understand Business Context Be Thorough Proactively Collect and Organize Data Don’t Forget Network Analysis Train and Drill Enlist Outside Help Go on the Offensive 1. See the Top Cybersecurity Employee Training Programs 4.

Data breaches 74

Data breaches Big data Cybersecurity Security 74

AIIM

MARCH 3, 2020

Too often I hear one of two, equally bad answers: Keep Records for Seven years: This seems to be the de facto answer, especially for financial services records. Internal Revenue Service rules around when they can audit individual and corporate tax returns. As near as I can tell, this comes from the U.S. And they will!

Records Management 161

Records Management Financial Services Big data Analytics 161

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. A threat actor gained access to an employee’s document management system account. Training and monitoring materials. NYDFS Cybersecurity Regulation.

Cybersecurity 94

Cybersecurity Financial Services Phishing Compliance 94

Hunton Privacy

JULY 24, 2020

On Wednesday, July 22, the New York Department of Financial Services (the “NYDFS”) announced that it had filed administrative charges against First American Title Insurance Co. under the NYDFS Cybersecurity Regulation , marking the agency’s first enforcement action since the rules went into effect in March 2017. NYCRR 500.14(b):

Cybersecurity 85

Cybersecurity Risk Financial Services Insurance 85

Collibra

AUGUST 14, 2023

As shown in the figure the four parts of the Collibra AI Governance framework are: Define the use case Identify and understand data Document models and results Verify and monitor Let’s explore each of those steps. Document models and results By the end of Step 2, you’ve reviewed perhaps a dozen data sets and maybe a handful are qualified.

Government 52

Government Risk Financial Services Compliance 52

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

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 76

Insurance Artificial Intelligence Risk Compliance 76

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

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. What is Cybersecurity Risk Management?

Risk 121

Risk Cybersecurity Encryption Access 121

eSecurity Planet

AUGUST 9, 2022

Other industry standards too can have the force of “pseudo-law” – notably, the NIST Cybersecurity Framework, which federal regulators often apply to financial-services firms and government contractors. See the Best Cybersecurity Awareness Training for Employees. Automating IT Compliance with Security Compliance Tools.

Data Privacy 137

Data Privacy Compliance Privacy Security 137

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

Data Matters

JUNE 24, 2021

10 The vulnerability arose from an embedded application, where from 2014 to May 24, 2019, a user could alter the digits in a URL to view another document to which the user should not have had access. Additionally, companies should ensure that disclosure committees have representation from all relevant parts of the organization. 14, 2011).

Cybersecurity 68

Cybersecurity Financial Services Risk Compliance 68

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 117

Risk Financial Services Insurance Cybersecurity 117

Data Matters

APRIL 20, 2021

To the extent recordkeepers or other service providers already offer participants and beneficiaries training of this nature, they should review existing materials to confirm that they reflect all of the Online Security Tips. Obligations of Service Providers Responsible for Plan-Related IT Systems and Data.

Cybersecurity 68

Cybersecurity Insurance Risk Compliance 68

Security Affairs

MAY 24, 2023

“The United States and our partners remain committed to combatting the DPRK’s illicit revenue generation activities and continued efforts to steal money from financial institutions, virtual currency exchanges, companies, and private individuals around the world.” ” continues the announcement. ” We are in the final!

Government 94

Government Military Financial Services IT 94

IT Governance

AUGUST 26, 2021

For example, financial services firms may be worried about employees breaching insider trading laws. Indeed, if you have a lawful reason to monitor employees and you document that reason, you are justified to keep an eye on their activities.

Compliance 119

Compliance Data breaches Privacy Risk 119

eSecurity Planet

SEPTEMBER 10, 2021

Leading IaaS and platform as a service (PaaS) vendors like Amazon Web Services (AWS) and Microsoft Azure provide documentation to their customers so all parties understand where specific responsibilities lie according to different types of deployment. Train your staff. Read more: Best IAM Tools & Solutions for 2021.

Cloud 101

Cloud Security Encryption Risk 101

IBM Big Data Hub

APRIL 18, 2024

LLMs like ChatGPT are trained on massive amounts of text data, allowing them to recognize patterns and statistical relationships within language. However, these systems lack genuine understanding and can’t adapt to situations outside their training. This allows for a smooth and efficient operation, avoiding costly downtime.

Artificial Intelligence 89

Artificial Intelligence Marketing e-Delivery Manufacturing 89

Info Source

APRIL 2, 2019

The new platform can be leveraged by enterprise companies in financial services. centric process pain points such as lengthy set-up and configuration, shortage of training data, requiring skilled experts in areas like machine learning for automating unstructured content, and. automation (BPA). Several high-profile.

Artificial Intelligence 40

Artificial Intelligence Digital transformation Insurance Financial Services 40

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

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”). As part of the “training and monitoring” requirements under Section 500.14

Financial Services 55

Financial Services Cybersecurity Risk Passwords 55

Collibra

MARCH 23, 2021

ATB Financial provides a diversified set of financial services to more than 770,000 residents of Alberta, Canada. Being a regionally focused institution, the group is dedicated to knowing its customers intimately, understanding their needs and providing products and services that help them achieve their goals.

Cloud 59

Cloud Government Access Metadata 59

eSecurity Planet

FEBRUARY 16, 2021

With vulnerabilities rooted in unsuspecting users, the task of preventing these attacks means both staff training and a robust email and network security system that includes a strong backup program so you have a recent copy of your data that you can roll back to. Healthcare and financial services are the most attacked industries.

Ransomware 97

Ransomware Encryption Insurance Cloud 97

ARMA International

DECEMBER 26, 2019

Forty percent are challenged by the volume of unmanaged digital documents out of the RIM program’s control. Automation and intelligent services are increasingly being embedded or integrated into content and records management platforms, and they often use digital records to extract, use, and understand the data embedded in these documents.

Content services 76

Content services Cloud Records Management Privacy 76

Data Protection Report

JANUARY 6, 2020

The New York State Department for Financial Services regulations require covered entities to have appropriate record retention policies and procedures and the CCPA provides an extra incentive to implement proper information governance to minimise the costs data access requests. In the U.S.,

Privacy 84

Privacy GDPR Data breaches Risk 84

Data Matters

AUGUST 5, 2019

In such case, the determination to not notify must be documented in writing and maintained for at least five years. To define “reasonable” safeguards, the statute provides examples of administrative, technical and physical safeguards. 6) adjusts the security program in light of business changes or new circumstances; and.

Cybersecurity 68

Cybersecurity Data breaches Privacy Risk 68

eSecurity Planet

AUGUST 10, 2023

The goal of this threat intelligence community is to share useful threat information back and forth: Private sector leaders can benefit from access to FBI insider knowledge, training, and best practices, while the FBI and other governmental bodies gain additional eyes on different areas of U.S. critical infrastructure.

Cybersecurity 67

Cybersecurity Access Metadata Energy and Utilities 67

Collibra

OCTOBER 31, 2023

With every financial services organization focused on making better and faster decisions, data professional and business leaders are eager to better understand how AI can facilitate their strategic goals. Financial services orgs, especially those in capital markets, frequently has been on the forefront of generative AI investment.

Marketing 105

Marketing Government Financial Services Artificial Intelligence 105

HL Chronicle of Data Protection

MAY 13, 2019

For example, the New York Department of Financial Services (‘NYDFS’) in March 2017 issued its Cybersecurity Regulation (23 NYCRR 500) (‘the NYDFS Cybersecurity Regulation’), a groundbreaking and far-reaching regulatory regime focused on financial institutions licensed in New York, including insurance companies.

Insurance 40

Insurance Cybersecurity Data breaches Financial Services 40

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. LogicManager’s GRC solution has specific use cases across financial services, education, government, healthcare, retail, and technology industries, among others.

Compliance 67

Compliance Risk Government Retail 67

Data Protection Report

JANUARY 6, 2020

The New York State Department for Financial Services regulations require covered entities to have appropriate record retention policies and procedures and the CCPA provides an extra incentive to implement proper information governance to minimise the costs data access requests. In the U.S.,

Privacy 52

Privacy GDPR Data breaches Risk 52