article thumbnail

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

Centraleyes

The financial industry is experiencing a gold rush of sorts with the integration of Artificial Intelligence (AI) technologies. With huge data volumes processed by the financial services sector, AI holds much promise for the industry. This can put consumer financial information at risk.

article thumbnail

New York issues cyber insurance framework as ransomware, SolarWinds costs mount

CSO Magazine

On February 4, 2021, New York became the first state in the nation to issue a cybersecurity insurance risk framework to all authorized property and casualty insurers. Get the latest from CSO by signing up for our newsletters. ]. Get the latest from CSO by signing up for our newsletters. ]. To read this article in full, please click here

Insurance 106
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The Evolving Legislative and Compliance Landscape: A Roadmap for Business Leaders

Thales Cloud Protection & Licensing

Entities designated as "essential" or "important" by member states in all sectors of the economy and public services must implement robust security measures, including proactive risk management, incident reporting, and supply chain security. The DSA introduces tiered obligations based on platform size and reach. PCI DSS 4.0

Risk 71
article thumbnail

FFIEC Updates Its Cybersecurity Guidelines For Financial Institutions

ForAllSecure

Therefore, the FFIEC provides guidance on financial regulations and best practices for federal supervisory agencies, as well as helping them develop exam policies for banks, savings associations, credit unions, thrifts, and other financial institutions.

article thumbnail

The Evolving Legislative and Compliance Landscape: A Roadmap for Business Leaders

Security Boulevard

Entities designated as "essential" or "important" by member states in all sectors of the economy and public services must implement robust security measures, including proactive risk management, incident reporting, and supply chain security. The DSA introduces tiered obligations based on platform size and reach. PCI DSS 4.0

Risk 72
article thumbnail

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

Krebs on Security

In reality, the fraudster initiates a transaction — such as the “forgot password” feature on the financial institution’s site — which is what generates the authentication passcode delivered to the member.

Scams 355
article thumbnail

Security Compliance & Data Privacy Regulations

eSecurity Planet

See the Top Governance, Risk and Compliance (GRC) Tools. Financial Data Protection Laws. 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.