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CyberSecurity Is Not Enough: Businesses Must Insure Against Cyber Losses

Joseph Steinberg

Ironically, while many larger enterprises purchase insurance to protect themselves against catastrophic levels of hacker-inflicted damages, smaller businesses – whose cyber-risks are far greater than those of their larger counterparts – rarely have adequate (or even any) coverage.

Insurance 364
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US Treasury Warns of Cybersecurity Risks AI Poses to Financial Sector

SecureWorld News

Department of Treasury on March 27th released a report titled "Managing Artificial Intelligence-Specific Cybersecurity Risks in the Financial Services Sector." The Treasury Department recognizes the importance of proactively addressing these risks. With advancements come new risks.

Risk 105
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Cyber-Liability Insurance 101: First Party Vs. Third Party Risks

Joseph Steinberg

One of the important concepts about which people must be aware when evaluating their cybersecurity postures and related liabilities, but which, for some reason, many folks seem to be unaware, is the difference between first-party risks and third-party risks. First-Party Risks And Coverage. Third-Party Risks And Coverage.

Insurance 141
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MasterCard Buys Recorded Future for $2.6B: What It Means for AI Cybersecurity

SecureWorld News

This automation enables their cybersecurity teams to focus on high-value risks rather than getting bogged down in mundane alert management. Simply put, if MasterCard is the most secure payment services provider, provides additional services, and has results to show, customers will choose them over the competition.

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LRQA Nettitude’s Approach to Artificial Intelligence

LRQA Nettitude Labs

There are currently conflicting or uncoordinated requirements from regulators which creates unnecessary burdens and that regulatory gaps may leave risks unmitigated, harming public trust and slowing AI adoption. The list was introduced with the goal of educating developers, and organizations about the potential threats that may arise in ML.

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Cybersecurity Snapshot: WEF Offers AI Security Best Practices, as DORA Regulation Places Strict Cyber Rules on Banks

Security Boulevard

1 - WEF: Best practices to adopt AI securely As businesses scramble to adopt artificial intelligence to boost their competitiveness, theyre also grappling with how to deploy AI systems securely and in line with policies and regulations. Do we weigh risks against rewards when considering new AI projects?

Banking 69
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Top 6 Compliance Management Tools for Financial Services

Centraleyes

The financial services industry is arguably one of the most highly regulated sectors worldwide. This is due to the sensitivity of the data handled, the potential for widespread economic disruption, and the industrys central role in global financial stability.