IBM Big Data Hub

MARCH 27, 2024

As businesses make plans to mitigate climate risks such as extreme weather events, they have an opportunity to innovate with new business models and demonstrate leadership by implementing more sustainable practices. What is climate risk? These risks can make it difficult or impossible for organizations to operate in affected locations.

Risk 68

Risk Artificial Intelligence Agriculture Financial Services 68

eSecurity Planet

FEBRUARY 11, 2022

Risk management is a concept that has been around as long as companies have had assets to protect. Risk management also extends to physical devices, such as doors and locks to protect homes and vehicles, vaults to protect money and precious jewels, and police, fire, and CCTV to protect against other physical risks.

Risk 140

Risk Cybersecurity Encryption Access 140

Data Matters

FEBRUARY 10, 2021

On February 4, 2021, the New York Department of Financial Services (NYDFS) issued Circular Letter No. 2 announcing a Cyber Insurance Risk Framework (the Framework) that describes industry best practices for New York-regulated property/casualty insurers. Insurers should: Establish a Formal Cyber Insurance Risk Strategy.

Insurance 79

Insurance Financial Services Cybersecurity Risk 79

Hunton Privacy

APRIL 22, 2020

On April 13, 2020, the New York Department of Financial Services (“NYDFS”) issued guidance (“April guidance”) to all New York State entities covered under NYDFS’s cybersecurity regulation regarding assessing and addressing heightened cybersecurity risks due to the COVID-19 pandemic.

Financial Services 71

Financial Services Cybersecurity Phishing Risk 71

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

The Last Watchdog

JULY 11, 2023

By using real-time antivirus scanning to detect and neutralize security risks as they enter the trading system, threats can be quickly identified and eliminated. Encryption renders data unreadable to unauthorized individuals, significantly reducing the risk of data breaches. Conduct employee training and awareness programs.

IT 189

IT Encryption Risk Financial Services 189

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

Data Protection Report

MARCH 1, 2021

On March 3, 2021, the New York Department of Financial Services (NYDFS) announced a Consent Order with a NYDFS-licensed Maine-based mortgage banker and loan servicer settling alleged violations of the NYDFS cybersecurity regulations. ( In the matter of Residential Mortgage Services, Inc., March 3, 2021).

Cybersecurity 98

Cybersecurity Financial Services Risk IT 98

IBM Big Data Hub

APRIL 5, 2024

Automotive manufacturers, having a wealth of data related to existing designs, can use these large bodies of data to train AI models. For example, managing the vast volumes of data involved in modern, high-fidelity HPC simulations, modeling and AI model training can be critical, requiring a high-performance storage solution.

Artificial Intelligence 72

Artificial Intelligence Computer and Electronics Financial Services Manufacturing 72

IT Governance

APRIL 11, 2019

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. Senior personnel should not be exempt.

Retail 66

Retail Risk Education Financial Services 66

Security Affairs

MARCH 14, 2022

While the Russia-Ukraine cyber conflict goes on, nation-state actors, crooks, and hacktivists continue to pose critical infrastructure at risk. Critical infrastructure is a privileged target for almost any kind of threat actor, the ongoing Russia-Ukraine cyber conflict is posing them at risk. ” reported researchers from Cyble.

Risk 95

Risk Financial Services Manufacturing Communications 95

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

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. Our previous blog post covered key proposed changes to the Cyber Regulation.

Cybersecurity 72

Cybersecurity IT Compliance Financial Services 72

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

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

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. Risk management and mitigation. In this post we discuss the operational advantages of a good privacy breach record-keeping program.

Compliance 137

Compliance Privacy Risk Financial Services 137

The Last Watchdog

NOVEMBER 9, 2020

IoT devices help remotely control our household appliances, power plants, smart buildings, factories, airports, shipyards, trucks, trains and military. IoT risks have been a low-priority, subset concern. In one very recent caper, the attackers targeted the CFO of a financial services firm, as he worked from home, Sherman says.

IoT 279

IoT Passwords Artificial Intelligence Risk 279

Hunton Privacy

JUNE 9, 2022

Licensees must conduct a risk assessment to create a WISP “commensurate with the size and complexity of the licensee, the nature and scope of the licensee’s activities, including its use of third-party service providers, and the sensitivity of the nonpublic information.” Enforcement and Penalties Under the Law.

Insurance 107

Insurance Security Information Security Cybersecurity 107

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. Third-party risk management.

Compliance 57

Compliance Risk Government Retail 57

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

The Last Watchdog

MARCH 31, 2020

“The ability to ship software out quickly has become an imperative for almost all businesses, meaning, ‘If you don’t do this, your competitors will, and your business will be at risk,’” he says. Fast-and-risky DevOps has forced a philosophy shift at large companies accustomed to top down decision making.

Security 194

Security Privacy Financial Services Risk 194

Thales Cloud Protection & Licensing

NOVEMBER 20, 2023

Black Friday and Cyber Monday, both hailed as the epitome of shopping extravagance, are also synonymous with a heightened risk of cyberattacks on retail platforms. It becomes, therefore, essential for retailers to consider the fresh insights provided by the Thales 2023 Data Threat Report – Financial Services Edition.

Retail 83

Retail Cybersecurity Financial Services Encryption 83

IT Governance

OCTOBER 13, 2023

Keeping informed about current attacks is one of the best ways of reducing the risk of falling victim. This month, we look at campaigns targeting Microsoft credentials by abusing open redirects from the job site indeed.com and exploiting LinkedIn Smart Links, and a series of attacks on users of postal services around the world.

Phishing 105

Phishing Financial Services Manufacturing Personal data 105

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.

Retail 71

Retail Compliance Risk Education 71

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

eSecurity Planet

AUGUST 9, 2022

See the Top Governance, Risk and Compliance (GRC) Tools. 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.

Data Privacy 145

Data Privacy Compliance Privacy Security 145

Security Affairs

JUNE 20, 2023

These challenges are intensified in industries that handle large volumes of sensitive data under stringent regulations , such as financial services, healthcare, and government sectors. By recognizing the significance of data sovereignty, businesses can take measures to enhance data security and control, mitigating these risks.

Compliance 83

Compliance Cybersecurity Risk Encryption 83

Collibra

AUGUST 14, 2023

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.

Government 52

Government Risk Financial Services Compliance 52

Security Affairs

FEBRUARY 14, 2022

ECB warned that the rising risk from cyber attacks begun in 2020. “We The European Central Bank remarks on the importance of training the staff on cyber threats, the central bank has also been running specific cyber drills to simulate cyber attacks against their infrastructure. ” reported Reuters.

Financial Services 73

Financial Services Cybersecurity Risk Security 73

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 part of their AI adoption, enterprises should define and adopt safety standards to manage their regulatory, financial, operational, technology and brand risks.

Government 52

Government Financial Services Compliance Cloud 52

Data Matters

JUNE 24, 2021

The SEC is considering enhancing its disclosure rules concerning cybersecurity risk governance and has indicated a target release date of October 2021. enable companies to identify cybersecurity risks and incidents. evaluate the significance associated with such risks and incidents. Lessons Learned From the SEC’s Order.

Cybersecurity 68

Cybersecurity Financial Services Risk Compliance 68

eSecurity Planet

SEPTEMBER 10, 2021

Public cloud infrastructure as a service (IaaS) may be less vulnerable than traditional data centers, but that doesn’t mean it’s without its own set of risks. Train your staff. Perhaps most importantly, cloud security training should help employees understand the inherent risk of shadow IT.

Cloud 119

Cloud Security Encryption Risk 119

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

Security Affairs

MARCH 19, 2022

. “AvosLocker is a Ransomware as a Service (RaaS) affiliate-based group that has targeted victims across multiple critical infrastructure sectors in the United States including, but not limited to, the Financial Services, Critical Manufacturing, and Government Facilities sectors. Consider installing and using a VPN.

Ransomware 100

Ransomware Passwords Encryption Financial Services 100

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 77

Insurance Artificial Intelligence Risk Compliance 77

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. For a long time companies have been more focused on the risk of losing data than on retaining too much data. Data is not just a risk. In the U.S.,

Privacy 144

Privacy Compliance Personal data Risk 144

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?

Phishing 84

Phishing Security awareness Compliance Risk 84