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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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Getting ready for artificial general intelligence with examples

IBM Big Data Hub

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. Regardless, these are examples of narrow AI.

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The convergence of HPC and AI: Driving innovation at speed  

IBM Big Data Hub

For example, HPC offers high levels of computational power and scalability, crucial for running performance-intensive workloads. Automotive manufacturers, having a wealth of data related to existing designs, can use these large bodies of data to train AI models.

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Finance sector must simplify staff awareness training

IT Governance

Financial services firms must do more to educate employees about cyber security, according to the FCA (Financial Conduct Authority). Organisations need to make staff awareness training a board-level priority. Staff awareness training is a crucial part of this.

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5 things to know: Driving innovation with AI and hybrid cloud in the year ahead

IBM Big Data Hub

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.

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Security Compliance & Data Privacy Regulations

eSecurity Planet

financial data must comply with consumer-protection laws such as the Electronics Fund Transfer Act (EFTA) and a litany of regulations enforced by the SEC (such as Sarbanes-Oxley), CFTC, FISMA, and other financial regulatory bodies. for example, all 50 states (along with the District of Columbia, Puerto Rico, the U.S. In the U.S.,

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The aftermath of an incident – business considerations surrounding record-keeping

Data Protection Report

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.