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FFIEC Guidance on Authentication and Access to Financial Institution Services and Systems

Data Matters

The Guidance is not intended to serve as a comprehensive framework but rather provides financial institutions with examples of effective risk management practices without endorsing any specific information security framework or standard. The appendix provides several examples of good monitoring, logging, and reporting practices.

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MyPayrollHR CEO Arrested, Admits to $70M Fraud

Krebs on Security

In the criminal complaint against Mann (PDF), a New York FBI agent said the CEO admitted that starting in 2010 or 2011 he began borrowing large sums of money from banks and financing companies under false pretenses. ” “Mann estimated that he fraudulently obtained about $70 million that he has not paid back. .”

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List of Data Breaches and Cyber Attacks in 2023

IT Governance

MCNA Insurance MCNA Insurance, also known as MCNA Dental, was caught up in a cyber hacking incident last week, in which 112 covered entities were affected. MCNA Insurance later confirmed that 8,923,662 people were affected in the incident and said the breach was a result of a ransomware attack.

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Regulatory Update: NAIC Fall 2019 National Meeting

Data Matters

The National Association of Insurance Commissioners (the NAIC) held its Fall 2019 National Meeting (Fall Meeting) in Austin, Texas, from December 7 to 10, 2019. NAIC Advances Accreditation Standard Process for Revised Credit for Reinsurance Model Law and Regulation, and Term and Universal Life Insurance Reserve Financing Model Regulation.

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Regulatory Update: NAIC Fall 2019 National Meeting

Data Matters

The National Association of Insurance Commissioners (the NAIC) held its Fall 2019 National Meeting (Fall Meeting) in Austin, Texas, from December 7 to 10, 2019. NAIC Advances Accreditation Standard Process for Revised Credit for Reinsurance Model Law and Regulation, and Term and Universal Life Insurance Reserve Financing Model Regulation.

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UK: How real is the threat of data protection group litigation in the UK?

DLA Piper Privacy Matters

Mr Skelton had taken personal data (including name, address, gender, date of birth, phone number, national insurance number, bank details and salary information) relating to nearly 100,000 employees and posted it on the internet. The solution is to insure against ruinous group claims…. What compensation will be payable for distress?

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UK FCA Consults on Changes to Strong Consumer Authentication, Dedicated Interfaces, and Guidance on Payment Services

Data Matters

The FCA has provided new guidance for PIs and EMIs using the “insurance or comparable guarantee” method of safeguarding. This includes a requirement that the insurance policy or comparable guarantee must pay out for the full amount of any claim regardless of how the relevant insolvency event occurs (including if the firm is at fault).