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Defending Financial Services Against Fraud in a Shifting Cyber Landscape

Thales Cloud Protection & Licensing

Defending Financial Services Against Fraud in a Shifting Cyber Landscape sparsh Tue, 11/14/2023 - 05:05 As we approach International Fraud Awareness Week during 12-18 November 2023, taking stock of the evolving threat landscape and the vulnerabilities that financial services organizations face is crucial.

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CHINA: New draft proposes more stringent requirements for processing data in the financial services industry

DLA Piper Privacy Matters

Authors: Carolyn Bigg, Amanda Ge and Venus Cheung On July 24, 2023, the People’s Bank of China (“ PBOC ”) released the Measures for the Management of Data Security in the Business Areas Falling into PBOC’s Jurisdiction (Draft for Comment) (“ Draft Measures” ) for public consultation, which closes on August 24, 2023.

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NYDFS releases major update to Part 500 cybersecurity requirements for financial services companies

Data Protection Report

On November 1, 2023, the New York Department of Financial Services (“NYDFS”) released the finalized amendments of Part 500 of its cybersecurity regulations. Covered entities shall also provide at least annual training and cybersecurity awareness programs that anticipate social engineering attacks (500.14).

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GUEST ESSAY: 7 tips for protecting investor data when it comes to alternative asset trading

The Last Watchdog

Related: Preserving the privacy of the elderly As more traders and investors engage in these investment avenues, it is crucial to adopt robust security measures to safeguard sensitive and regulated information. Implement strong data encryption. Stay informed about security best practices. Conduct regular penetration testing.

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Security Compliance & Data Privacy Regulations

eSecurity Planet

Regulatory compliance and data privacy issues have long been an IT security nightmare. GDPR (among other legal requirements in the EU and elsewhere) can expose multinational organizations to hefty financial penalties, additional rules for disclosing data breaches, and increased scrutiny of the adequacy of their data security.

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Historic Charges: First Enforcement Action Filed by New York Department of Financial Services Under Cybersecurity Regulation

Data Matters

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.

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Black Friday and Cyber Weekend: Navigating the Tumultuous Waters of Retail Cybersecurity

Thales Cloud Protection & Licensing

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.

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