DLA Piper Privacy Matters

AUGUST 8, 2023

Regular training and periodic audits shall be conducted to ensure the effectiveness of data security measures in place. The Draft Measures reflects PBOC’s approach in implementing the DSL requirements within the financial services industry.

Financial Services 98

Financial Services Personal data Compliance Data collection 98

Rocket Software

MARCH 14, 2022

Analyst firm IDC recently published a Vendor Spotlight report featuring ASG Mobius Content Services (Mobius) and its applications in the financial service and insurance industries. Solving these challenges requires employee training and prioritization of documents to manage the increasingly high volume.

Financial Services 82

Financial Services Insurance Digital transformation Paper 82

IBM Big Data Hub

DECEMBER 8, 2023

The IBM Center for Cloud Training has been busy creating and delivering training and certification programs that prepare you to work with the infrastructure and data that Cloud requires. Being proactive in your learning can significantly boost your career and empower you as these inevitable changes become our new reality.

Cloud 65

Cloud Financial Services Access IT 65

KnowBe4

SEPTEMBER 28, 2023

A recent panel discussion of banking CISOs and experts at the SIBOS conference focused on the current state of ransomware and what institutions should do to protect themselves.

Financial Services 108

Financial Services Ransomware Security awareness Phishing 108

Data Breach Today

SEPTEMBER 27, 2022

Rob Dartnall of Security Alliance Shares Insights on Current and Emerging Trends Financial services firms in Africa are becoming bigger cyber targets as they expand into new mobile payment and financial inclusion products.

Financial Services 235

Financial Services Cybersecurity Security 235

Hunton Privacy

NOVEMBER 23, 2022

On November 9, 2022, the New York Department of Financial Services (NYDFS) released its second, proposed amendments to the Part 500 Cybersecurity Rule. The proposed amendments revise several aspects of the draft Cybersecurity Rule amendments released on July 29, 2022.

Financial Services 55

Financial Services Cybersecurity Ransomware Compliance 55

The Last Watchdog

FEBRUARY 11, 2024

Related: The case for augmented reality training Because of this, cybersecurity investments and regulatory oversight are increasing at an astounding rate , especially for those in the financial services industry, bringing an overwhelming feeling to chief compliance officers without dedicated security teams.

Risk 234

Risk IT Financial Services Cybersecurity 234

Data Breach Today

SEPTEMBER 23, 2021

Deepak Kumar, guest speaks at the keynote session at ISMG Virtual Cybersecurity Summit Asia: Financial Services The session addresses how the banking and financial services organizations can take steps to invest for operational speed, drive value from new investments, enhance their training and cybersecurity collaboration, and work to sustain what (..)

Cybersecurity 174

Cybersecurity Financial Services 174

HL Chronicle of Data Protection

APRIL 17, 2020

Continuing its focus on COVID-19’s impact on its regulated entities, on April 13, the New York Department of Financial Services (NYDFS) released new cybersecurity guidance in response to the COVID-19 pandemic. Third Party Risk. Third-party vendors may struggle to deal with COVID-19 restrictions.

Financial Services 75

Financial Services Risk Cybersecurity Phishing 75

Thales Cloud Protection & Licensing

OCTOBER 24, 2024

New Cybersecurity Rules for Financial Institutions in New York State Take Effect November 1, 2024 madhav Fri, 10/25/2024 - 06:09 The next major deadline for compliance with the updated cybersecurity rules from the New York State Department of Financial Services (NYDFS) is November 1, 2024.

Cybersecurity 62

Cybersecurity Financial Services Encryption Compliance 62

Schneier on Security

MAY 9, 2024

Compared to last year, criminals seem to have abandoned any attempt at training real criminal large language models (LLMs). We are finally seeing the emergence of actual criminal deepfake services, with some bypassing user verification used in financial services. Instead, they are jailbreaking existing ones.

Financial Services 99

Financial Services Artificial Intelligence 99

Data Matters

FEBRUARY 10, 2021

On February 4, 2021, the New York Department of Financial Services (NYDFS) issued Circular Letter No. This includes not only recruitment of those with cybersecurity experience and skills but a commitment by insurers to these employees’ training and development so as to “properly understand and evaluate cyber risk.”. 1 See W.B.

Insurance 77

Insurance Financial Services Cybersecurity Risk 77

Data Matters

AUGUST 19, 2020

On July 21, 2020, the New York State Department of Financial Services (NYDFS or the Department) issued a statement of charges and notice of hearing (the Statement) against First American Title Insurance Company (First American) for violations of the Department’s Cybersecurity Requirements for Financial Services Companies, 23 N.Y.C.R.R.

Financial Services 66

Financial Services Cybersecurity Insurance Risk 66

Hunton Privacy

APRIL 22, 2020

On April 13, 2020, the New York Department of Financial Services (“NYDFS”) issued guidance (“April guidance”) to all New York State entities covered under NYDFS’s cybersecurity regulation regarding assessing and addressing heightened cybersecurity risks due to the COVID-19 pandemic.

Financial Services 71

Financial Services Cybersecurity Risk Phishing 71

Hunton Privacy

AUGUST 15, 2022

On July 29, 2022, the New York Department of Financial Services (“NYDFS”) posted proposed amendments (“Proposed Amendments”) to its Cybersecurity Requirements for Financial Services Companies (“Cybersecurity Regulations”). As part of the “training and monitoring” requirements under Section 500.14

Financial Services 55

Financial Services Cybersecurity Risk Passwords 55

Data Protection Report

MARCH 1, 2021

On March 3, 2021, the New York Department of Financial Services (NYDFS) announced a Consent Order with a NYDFS-licensed Maine-based mortgage banker and loan servicer settling alleged violations of the NYDFS cybersecurity regulations. ( In the matter of Residential Mortgage Services, Inc., March 3, 2021).

Cybersecurity 98

Cybersecurity Financial Services Risk IT 98

IT Governance

APRIL 11, 2019

Financial services firms must do more to educate employees about cyber security, according to the FCA (Financial Conduct Authority). Organisations need to make staff awareness training a board-level priority. Staff awareness training is a crucial part of this.

Retail 50

Retail Risk Education Financial Services 50

The Last Watchdog

JULY 11, 2023

Conduct employee training and awareness programs. Investing in comprehensive employee training and awareness programs is essential for a security-conscious environment. Active awareness of security developments allows for adaptable strategies in addressing emerging risks and effectively protecting investor data.

Encryption 189

Encryption IT Risk Financial Services 189

The Last Watchdog

MAY 24, 2021

billion hitting financial services organizations — an increase of more than 45 percent year-over-year in that sector. billion web app attacks last year, with more than 736 million targeting financial services. billion web attacks globally; 736 million in the financial services sector. A: Everything.

Financial Services 178

Financial Services Passwords Data breaches Authentication 178

KnowBe4

OCTOBER 5, 2023

Menlo Security warns that a social engineering campaign is using the EvilProxy phishing kit to target senior executives across a range of industries, including banking and financial services, insurance, property management and real estate, and manufacturing.

Phishing 105

Phishing Financial Services Insurance Manufacturing 105

Hunton Privacy

NOVEMBER 8, 2023

On November 1, 2023, New York Governor Hochul announced that the New York State Department of Financial Services (“NYDFS”) amended its Cybersecurity Regulation applicable to covered financial institutions. Our previous blog post covered key proposed changes to the Cyber Regulation.

Cybersecurity 72

Cybersecurity IT Compliance Financial Services 72

IBM Big Data Hub

APRIL 5, 2024

Automotive manufacturers, having a wealth of data related to existing designs, can use these large bodies of data to train AI models. For example, managing the vast volumes of data involved in modern, high-fidelity HPC simulations, modeling and AI model training can be critical, requiring a high-performance storage solution.

Computer and Electronics 64

Computer and Electronics Artificial Intelligence Financial Services Manufacturing 64

The Last Watchdog

MAY 1, 2019

Related: Why diversity in training is a good thing. He came up with a new approach to testing and training the bank’s employees – and the basis for a new company, LucySecurity. People tend to be very resistant to training,” Bastable told me. How much better? But as soon as you stop, the number quickly goes back up.”

Phishing 166

Phishing Financial Services Manufacturing Education 166

Collibra

OCTOBER 31, 2023

With every financial services organization focused on making better and faster decisions, data professional and business leaders are eager to better understand how AI can facilitate their strategic goals. Financial services orgs, especially those in capital markets, frequently has been on the forefront of generative AI investment.

Marketing 105

Marketing Government Financial Services Artificial Intelligence 105

IBM Big Data Hub

AUGUST 1, 2023

We are bringing the power of foundation models with the availability of a GPU as a service on IBM Cloud offering to help organizations tap into artificial intelligence (AI) in a secured environment while aiming to mitigate third- and fourth-party risk.

Financial Services 63

Financial Services Computer and Electronics Cloud Digital transformation 63

Hunton Privacy

JUNE 9, 2022

Licensees are wholly exempt from the law if they are compliant with the New York Department of Financial Services Cybersecurity Requirements for Financial Services Companies (23 NYCRR §§ 500.0 to 500.23) and they submit a written statement to the Commissioner certifying such compliance.

Insurance 107

Insurance Security Information Security Cybersecurity 107

Hunton Privacy

JULY 1, 2022

On June 24, 2022, the New York State Department of Financial Services (“NYDFS” or the “Department”) announced it had entered into a $5 million settlement with Carnival Corp.

Cybersecurity 115

Cybersecurity Insurance Phishing Financial Services 115

eSecurity Planet

SEPTEMBER 21, 2024

Here’s a brief overview of industry-specific cybersecurity regulations: Financial Services Financial services firms are subject to stringent cybersecurity regulations to protect sensitive financial data. Policies should cover data protection, access controls, incident response, and employee training.

Cybersecurity 120

Cybersecurity Computer and Electronics Compliance Privacy 120

Data Protection Report

JANUARY 18, 2024

On January 3, 2024, the New York Department of Financial Services announced a consent order with GGT, where GGT agreed to pay NYDFS $8 million and to surrender its BitLicense (for cryptocurrency trading), due to alleged violations of NYDFS’ cybersecurity and its virtual currency regulations.

Cybersecurity 111

Cybersecurity Financial Services Compliance Encryption 111

IBM Big Data Hub

SEPTEMBER 14, 2023

Batch data transfer: Ad-hoc or scheduled batch data transfers between clouds for analytical processing, archiving, AI training or data migration. On IBM Cloud, enterprises with insurance and banking workloads often follow the VPC-based reference architecture from IBM Cloud for Financial Services.

Cloud 70

Cloud Financial Services Insurance Compliance 70

IBM Big Data Hub

DECEMBER 18, 2023

For organizations of all types—and especially those in highly regulated industries such as financial services, government, healthcare and telco—considerations including the rise of generative AI, evolving regulations and data sovereignty laws and ongoing security challenges must be top of mind.

Cloud 63

Cloud Financial Services Compliance Digital transformation 63

Thales Cloud Protection & Licensing

NOVEMBER 20, 2023

The IBM 2023 Cost of a Data Breach Report , for example, highlights the continuous financial burden on retailers, which, coupled with potential reputational damage, emphasizes the dire need for retailers to prioritize and bolster their cybersecurity measures. Behind every system, software, and security protocol stands a human being.

Retail 83

Retail Cybersecurity Financial Services Encryption 83

Thales Cloud Protection & Licensing

OCTOBER 16, 2024

Individuals risk identity theft, financial loss, and privacy violations. Businesses, particularly those in financial services, healthcare, and retail sectors, suffer from operational disruptions and financial penalties.

Security 62

Security Encryption Data breaches Cybersecurity 62

Thales Cloud Protection & Licensing

OCTOBER 28, 2024

Privacy Concerns with Generative AI While generative AI holds significant promise, it also introduces new privacy risks, particularly when models are trained on sensitive financial and personal data. This may include the usage of data and the training of models within a Confidential Computing secure enclave.

Privacy 62

Privacy Encryption Compliance Risk 62

IBM Big Data Hub

SEPTEMBER 18, 2023

Transforming trade finance with industry cloud platforms and AI Core to this platform is IBM Cloud for Financial Services , a first-of-its-kind cloud designed to serve the challenging needs of regulated industries with laws, rules and regulations built in from the outset.

Financial Services 82

Financial Services Cloud Compliance Artificial Intelligence 82

The Last Watchdog

NOVEMBER 9, 2020

IoT devices help remotely control our household appliances, power plants, smart buildings, factories, airports, shipyards, trucks, trains and military. In one very recent caper, the attackers targeted the CFO of a financial services firm, as he worked from home, Sherman says. And we’re just getting started.

IoT 279

IoT Passwords Artificial Intelligence Risk 279

IBM Big Data Hub

DECEMBER 1, 2023

They must comply with an increasing regulatory burden, and they compete with a broad range of financial services companies that offer investment products that have potential for better returns than traditional life insurance and annuity products. The supervised learning that is used to train AI requires a lot of human effort.

Insurance 96

Insurance Digital transformation Customer Experience Cloud 96