DLA Piper Privacy Matters

AUGUST 23, 2021

In good news for organisations handling personal information, China’s Personal Information Protection Law (“ PIPL ”) was finalised on 20 August 2021, and will come into force on 1 November 2021. To be clear, this is not China’s own GDPR.

Data Privacy 111

Data Privacy Privacy Compliance Analytics 111

Thales Cloud Protection & Licensing

NOVEMBER 22, 2021

Tue, 11/23/2021 - 06:13. Digital-only banks and Fintechs are expected to grow “at a compound annual rate of about 23.41%” from 2021-2026. Digital-only banks and Fintechs are expected to grow “at a compound annual rate of about 23.41%” from 2021-2026. The full digitization of contracts, subscriptions and consumption of services.

Digital transformation 71

Digital transformation Financial Services Customer Experience Risk 71

Hunton Privacy

SEPTEMBER 1, 2021

On August 30, 2021, the U.S. 34-92806 ; and In the Matter of KMS Financial Services, Inc. , Release No. 34-92807 , August 30, 2021. According to the SEC order against KMS Financial Services Inc., The cases are In the Matter of Cetera Advisor Networks LLC , Release No.

Cybersecurity 113

Cybersecurity Financial Services Cloud Access 113

IBM Big Data Hub

AUGUST 1, 2023

We continue to make key updates to our cloud infrastructure to drive progress that has resulted in improvements to cloud stability and resiliency, including an 87% year-over-year reduction in Severity 1 Customer Impacting Events (CIEs) and a 38% decrease in Severity 1 CIE disruption time for the same compared periods in 2022 versus 2021.

Financial Services 63

Financial Services Computer and Electronics Cloud Digital transformation 63

Data Protection Report

NOVEMBER 16, 2022

2022 has been a record year for Illinois Biometric Information Privacy Act (“BIPA”) litigation. Since its enactment in 2008, BIPA has been one of the most litigated privacy-related laws with some of the highest penalties. 2021 IL App (1st) 200563, addressed the question of statute of limitations for BIPA claims.

Financial Services 98

Financial Services Privacy Compliance Insurance 98

Data Matters

JUNE 24, 2021

On June 15, 2021, the SEC announced settled charges against First American Title Insurance Company (First American) for disclosure controls and procedures violations related to a cybersecurity vulnerability that exposed sensitive customer information. This resolution highlights the SEC’s continued focus on cybersecurity. 20, 2017).

Cybersecurity 66

Cybersecurity Financial Services Risk Compliance 66

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

Data Protection Report

NOVEMBER 1, 2023

The Amended Rule requires covered entities to report any “notification event” involving the information of at least 500 consumer, which is lower than the 1,000 consumer threshold contained in the FTC’s 2021 proposed rule, to the FTC no later than 30 days after discovery of the notification event.

Encryption 59

Encryption Cybersecurity Data breaches Financial Services 59

Thales Cloud Protection & Licensing

OCTOBER 27, 2021

Wed, 10/27/2021 - 07:30. The Thales Cloud Security Study 2021 of more than 2,600 respondents from around the world tries to respond to key questions: How widespread is multi-cloud? Financial services, media and transportation highlighted encryption as the most popular option, while MFA was listed first by technology respondents.

Cloud 71

Cloud Encryption Financial Services Authentication 71

IT Governance

AUGUST 26, 2021

Protecting employees’ privacy. For example, financial services firms may be worried about employees breaching insider trading laws. Although monitoring software comes with understandable privacy issues, remember that the GDPR (General Data Protection Regulation) doesn’t prohibit their use. Preventing data breaches.

Compliance 118

Compliance Data breaches Privacy Risk 118

Data Matters

MAY 27, 2021

On May 18, 2021, the UK Financial Conduct Authority (FCA) published a “Dear CEO” letter (the Letter) asking e-money institutions to ensure that their customers understand how their money is protected. In addition, in February 2021, the FCA publicly censured Premier FX Limited for failing to properly safeguard its customers’ money.

Marketing 66

Marketing Communications Compliance Financial Services 66

Data Matters

APRIL 11, 2022

The Data Security Law (2021) (the DSL ) and some recent draft regulations indicate that the prohibition on exports of “important data” is likely to apply to all companies, whether CII operators or not. appeared first on Data Matters Privacy Blog. The post Understanding China’s Data Regulatory Regime: What Are Important Data?

Military 86

Military Artificial Intelligence Security Financial Services 86

Thales Cloud Protection & Licensing

FEBRUARY 27, 2023

Even in regions like Europe a lot of Citizens do not have a bank account: Source: World Bank Findex 2021 report Global CBDC initiatives Central banks are responsible for promoting monetary and financial stability in the best interests of the public. This could ultimately benefit banks by reducing the risk of financial instability.

Financial Services 71

Financial Services Access Risk Security 71

DLA Piper Privacy Matters

APRIL 20, 2021

were published by the PBOC (the PRC banking regulator) and came into force on 8 April 2021. This introduces a data lifecycle security framework, and represents the key guideline for handling personal and other financial information by financial institutions (i.e.

Compliance 111

Compliance Security Financial Services Data collection 111

Data Protection Report

MAY 25, 2022

The decision has been labelled as a watershed decision in Australia – a ‘first of its kind’ case that puts financial services firms, and more broadly, corporate Australia, on notice that failures to adequately understand and manage cybersecurity and cyber resilience risks will no longer be tolerated by Australia’s regulatory agencies.

Cybersecurity 75

Cybersecurity Risk Financial Services Retail 75

Data Protection Report

SEPTEMBER 28, 2021

On 10 September 2021, the UK Government published its consultation paper on proposals to reform the UK’s data protection regime. The deadline for responding to the consultation is 19 November 2021. Privacy campaigners and those bringing challenges to the gig economy’s reliance on Article 22 are likely to have strong views on these.

Government 120

Government FOIA GDPR Compliance 120

Data Protection Report

OCTOBER 24, 2022

On October 18, 2022, the New York Department of Financial Services announced a settlement with EyeMed, a licensed life, accident, and health insurer, with respect to a security incident that occurred in 2020. Nevertheless, EyeMed certified its compliance with the Cybersecurity Regulation annually, from 2018-2021.

Cybersecurity 52

Cybersecurity Personal data Risk Financial Services 52

The Last Watchdog

MARCH 14, 2022

When was the last time you read an online privacy policy in its entirety? Related: What happened to privacy in 2021. Financial services, health, home security, governance and all other mission critical services are now provided online. This document is called a privacy policy. Perhaps, never?

Privacy 223

Privacy Artificial Intelligence Financial Services Archiving 223

Thales Cloud Protection & Licensing

APRIL 1, 2021

Thu, 04/01/2021 - 14:04. This enhanced data protection capability enables organizations to benefit from the full power of Microsoft 365 collaboration and productivity tools while protecting sensitive data and meeting data privacy regulations and requirements.

Encryption 79

Encryption Compliance Cloud GDPR 79

Thales Cloud Protection & Licensing

DECEMBER 20, 2023

This enhances data privacy and security and allows for greater control and efficiency in AI application deployment within the enterprise. Initially a driving force in financial services for secure transactions, blockchain now faces the challenge of reshaping its image and functionality. Gartner has recognized this shift.

Cybersecurity 83

Cybersecurity Blockchain Artificial Intelligence Encryption 83

DLA Piper Privacy Matters

MARCH 30, 2023

Of note is the DPC’s ongoing inquiry into the Department of Social Protection which commenced in 2021. Following on from its publication of ‘Fundamentals’ guidance on children’s data protection rights in 2021 the DPC issued three short guides for children aged 13 and over on their data protection rights in 2022.

Personal data 52

Personal data GDPR Compliance Financial Services 52

IBM Big Data Hub

SEPTEMBER 27, 2022

Whether it be financial services, employee hiring, customer service management or healthcare administration, AI is increasingly powering critical workflows across all industries. In a 2021 study by the IBM Institute of Business Value , nearly 75% of executives ranked AI ethics as important, a jump from less than 50% in 2018.

Government 52

Government Compliance Data science Financial Services 52

Reltio

DECEMBER 10, 2021

The recent report, The Forrester Wave™: Master Data Management , Q4 2021 notes that “Master data management helps accelerate digital transformation initiative.” The Forrester Wave™ for Master Data Management Q4 2021 report calls out that: “ Reltio is a one-stop shop for MDM deployment with advanced capabilities.

MDM 98

MDM Analytics Digital transformation Cloud 98

Data Matters

FEBRUARY 25, 2021

On January 28, 2021, the UK Financial Conduct Authority (FCA) published Consultation Paper CP21/3 , “Changes to the SCA-RTS and to the guidance in ‘Payment Services and Electronic Money – Our Approach’ and the Perimeter Guidance Manual” (Consultation Paper). Next steps. 1 See further our Update of May 4, 2020. 3 At PERG 15.

Authentication 66

Authentication Paper Risk Insurance 66

The Last Watchdog

NOVEMBER 9, 2020

IoT-enabled scams and hacks quickly ramped up to a high level – and can be expected to accelerate through 2021 and beyond. In one very recent caper, the attackers targeted the CFO of a financial services firm, as he worked from home, Sherman says. In response, threat actors are hustling to take full advantage.

IoT 279

IoT Passwords Artificial Intelligence Risk 279

eSecurity Planet

AUGUST 13, 2021

For everything from minor network infractions to devastating cyberattacks and data privacy troubles , digital forensics software can help clean up the mess and get to the root of what happened. This article looks at the top digital forensic software tools of 2021 and what customers should consider when buying or acquiring a DSF tool.

e-Discovery 139

e-Discovery Computer and Electronics Marketing Compliance 139

Hunton Privacy

FEBRUARY 25, 2021

As reported on the Hunton Insurance Recovery blog , on February 4, 2021, the New York Department of Financial Services (“NYDFS”), which regulates the business of insurance in New York, has issued guidelines, in the Insurance Circular Letter No.

Insurance 70

Insurance Cybersecurity Risk Education 70

Adam Levin

NOVEMBER 17, 2020

Read a website’s privacy policy. Resist the urge to create one — or, if you must, adjust your privacy settings so that only particular people can see it. Shred financial documents. Know how to spot ‘malvertising’. A best practice any time of the year, never discard full bank or credit card statements in the trash. Report scams.

Retail 97

Retail e-Delivery Passwords Phishing 97

Data Matters

NOVEMBER 2, 2021

Interestingly, the ProShares Bitcoin Strategy ETF that started trading on October 19, 2021, tracks the price of Bitcoin futures traded on the CME. In fact, in Q3 of 2021, ISDA initiated a survey among its members about digital assets trading over the prior 12 months as a step toward developing a whitepaper for this emerging asset class.

Blockchain 86

Blockchain Marketing Access Risk 86

HL Chronicle of Data Protection

MAY 13, 2019

For example, the New York Department of Financial Services (‘NYDFS’) in March 2017 issued its Cybersecurity Regulation (23 NYCRR 500) (‘the NYDFS Cybersecurity Regulation’), a groundbreaking and far-reaching regulatory regime focused on financial institutions licensed in New York, including insurance companies.

Insurance 40

Insurance Cybersecurity Data breaches Financial Services 40

Krebs on Security

NOVEMBER 19, 2021

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. CFPB-2021-0017 in the subject line of the message. Be sure to include Docket No.

IT 357

IT Passwords Authentication Phishing 357

KnowBe4

FEBRUARY 14, 2023

But without reinforcing this understanding through ongoing mindset shifts, the status quo and security theater of repetitive privacy notifications will make employees feel more complacent." link] A Size Comparison of Existing and (very interesting) Planned huge Skyscrapers: [link] Fabulous 2021 wingsuit montage.

Phishing 87

Phishing Security awareness Compliance Risk 87

The Last Watchdog

MAY 26, 2022

” Privacy is a concern. For example, in 2021 the Colonial Pipeline was hacked, and the company decided to pay $5 million in ransom since most of the East Coast’s fuel supply was shut down. Panicked East Coast Americans began hoarding gas due to a major disruption in fuel supply.

Ransomware 305

Ransomware Government Agriculture Encryption 305

DLA Piper Privacy Matters

MARCH 4, 2021

While a total of 11 decisions were issued this year, we anticipate that the DPC will keep up the momentum and issue decisions in several high-profile cross-border statutory inquiries as well as further domestic inquiries during 2021. Financial Services Sector Focus. DPC Strategy for 2021. 2020 saw an increase of €1.6

GDPR 105

GDPR Compliance Data breaches Marketing 105

Data Matters

NOVEMBER 22, 2021

On November 18, 2021, a group of federal bank regulators announced a final rule requiring banks to notify their primary federal regulator of any “significant computer-security incidents.” Further, bank service providers are now required to promptly notify all affected banks whenever a cybersecurity disruption lasts for four or more hours.

Cybersecurity 114

Cybersecurity Insurance Financial Services Marketing 114

Data Matters

DECEMBER 28, 2020

The International Insurance Relations (G) Committee will be scheduling a conference call in early 2021 to discuss the NAIC’s comments to the IAIS’ draft document ahead of the January 22 comment deadline. These revisions are exposed for comment until January 11, 2021. NAIC Re-exposes Revisions to SSAP No. Revisions to SSAP No.

Insurance 66

Insurance Paper Risk Analytics 66

Data Matters

AUGUST 17, 2021

On August 11, 2021, the Federal Financial Institutions Examination Council (FFIEC)1 issued guidance establishing risk management principles and practices to support the authentication of users accessing a financial institution’s information systems and customers accessing a financial institution’s digital banking services (the Guidance).

Authentication 86

Authentication Access Risk Financial Services 86