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AI Regulation in Finance: Steering the Future with Consumer Protection at the Helm

Centraleyes

The AI revolution in finance presents numerous opportunities and, simultaneously, the potential for many risks , specifically regarding consumer protection. Financial institutions must emphasize trust-building measures by preserving data privacy and consumer protection to mitigate risk in AI systems.

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The ‘Zelle Fraud’ Scam: How it Works, How to Fight Back

Krebs on Security

One of the more common ways cybercriminals cash out access to bank accounts involves draining the victim’s funds via Zelle , a “peer-to-peer” (P2P) payment service used by many financial institutions that allows customers to quickly send cash to friends and family.

Scams 355
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Robocall Legal Advocate Leaks Customer Data

Krebs on Security

The Blacklist Alliance provides technologies and services to marketing firms concerned about lawsuits under the Telephone Consumer Protection Act (TCPA), a 1991 law that restricts the making of telemarketing calls through the use of automatic telephone dialing systems and artificial or prerecorded voice messages.

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Business ID Theft Soars Amid COVID Closures

Krebs on Security

. “The ferocity of cyber criminals to take advantage of COVID-19 uncertainties by preying on small businesses is disturbing,” said Andrew LaMarca , who leads the global high-risk and fraud team at Dun & Bradstreet. For the past several months, Milwaukee, Wisc. ” PHANTOM OFFICES. ” RECYCLING VICTIMS. .

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Security Compliance & Data Privacy Regulations

eSecurity Planet

See the Top Governance, Risk and Compliance (GRC) Tools. are subject to laws such as the Health Insurance Portability and Accountability Act (HIPAA) and the Health Information Technology for Economic and Clinical Health Act (the HITECH Act), as well as regulations such as the Clinical Laboratory Improvements Amendments (CLIA).

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FCC comes down hard on robocallers with record $300m fine

Malwarebytes

Anyone taking the bait stands a good chance of losing control of their personal data or suffering from all manner of dubious payments leaving their bank account. The calls also violated spoofing laws by using misleading caller ID to disguise the enterprise’s role and prompt consumers to answer.

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What is Maryland’s Online Data Privacy Protection Act?

Centraleyes

Response to Consumer Requests and Data Protection Assessments Controllers must respond to consumer requests within 45 days and conduct data protection assessments for processing activities presenting a heightened risk of harm. It is also mentioned in some well-known privacy laws, including GDPR and HIPAA.