compliance
TechnologyEU Proposes Rules Targeting Smart Devices With Cybersecurity Risks
TechnologyManaging Authorizations: A New Approach to Keep Banks Secure
Top StoriesCreating a “Fairness-Aware” Financial Crime Culture With Responsible AI-based Systems
BusinessLeveraging Compliance to Mitigate Risk in the Face of Accelerated Transformation
Australia Financial Crimes Regulator Opens Investigation Into Britain’s Entain
Date: September 12, 2022
(Reuters) -The Australian financial crimes regulator said on Monday it opened an investigation into British sports betting giant Entain Plc to assess whether it was complying with anti-money laundering and counter-terrorism financing laws. The Australian Transaction Reports and Analysis Centre (AUSTRAC) said it began the enforcement investigation after an extensive supervisory campaign covering the whole...
Customer Vulnerability Is a Boardroom Issue; Here’s Why
Date: September 11, 2022
By Jonathan Barrett, CEO and Co-Founder at Comentis Earlier this year new guidance was issued by the Financial Conduct Authority (FCA) explaining that it will no longer wait for Customer Duty to take effect before taking action to improve customer outcomes when it comes to vulnerability. Then just a couple of weeks later in July,...
3 Ways Financial Services Can Ensure Secure Communications
Date: September 7, 2022
By Paul Holland, CEO and Founder of Beyond Encryption Organisations within the financial services industry have an immense challenge in keeping their data secure. As the amount of information these companies keep grows, so does the adversity of effectively securing it. According to IBM, the financial sector has on average the second-highest cost resulting from...
Third-Party Cybersecurity: How Financial Service Organizations Can Mitigate Business Risk
Date: September 7, 2022
By Alastair Williams, VP, Solutions Engineering at Skybox Siloed approaches to risk identification mean that third-party risks are missed across complex financial institutions Today’s financial organizations are evolving and modernizing, with many large financial organizations relying on wide-ranging third-party environments with thousands of suppliers and vendors. According to Gartner, 71% of organizations report that their...
Ireland Fines Instagram a Record $400 Million Over Children’s Data
Date: September 6, 2022
DUBLIN (Reuters) -Ireland’s data privacy regulator has agreed to levy a record fine of 405 million euros ($402 million) against social network Instagram following an investigation into its handling of children’s data, a spokesperson for the watchdog said. Instagram plans to appeal against the fine, a spokesperson for parent Meta Platforms Inc said in an...
WhatsApp Bans 2.4 Million Indian Accounts in July – Monthly Report
Date: September 2, 2022
BENGALURU (Reuters) – WhatsApp banned 2.39 million Indian accounts in July, the highest so far this year, the Meta-owned popular instant messaging app said late on Thursday in its monthly report. The Asian nation’s stricter IT laws have made it necessary for large digital platforms to publish compliance reports every month. Draft rules circulated in...