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The fact is, bad actors make plans and prey upon unprotected data – a very valuable currency. Data security professionals also make ambitious plans, but implementation rates are too low – a key finding in the 2019 Thales Data Threat Report-FinancialServices Edition. financialservices organizations is slowing.
“New Jersey has long been a leader in dataprivacy,” stated Brandon Pugh, CIPP/US, CIPM, R-Street Institute Policy Director for Cybersecurity and Emerging Threats. The bill requires a controller to conduct a dataprotection impact assessment before processing personally identifiable information.
There is a need to ensure the integrity of the data and algorithms on which the AI is based, including “product safety checks by market surveillance authorities and consumerprotection rules that implement place, whit appropriate minimum safety standards.”
Regulatory compliance and dataprivacy issues have long been an IT security nightmare. And since the EU’s General DataProtection Regulation (GDPR) took effect May 25, 2018, IT compliance issues have been at the forefront of corporate concerns. GDPR-style dataprivacy laws came to the U.S. Location Matters.
The financialservices 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. Top Compliance Management Solutions for the Financial Sector 1.
4806 — An Act relative to consumerprotection from security breaches. Nevada Personal Information DataPrivacy Encryption Law NRS 603A. New York State Department of FinancialServices, Cybersecurity Requirements for FinancialServices Companies (23 NYCRR 500). Massachusetts Bill H.4806
The financial industry is experiencing a gold rush of sorts with the integration of Artificial Intelligence (AI) technologies. With huge data volumes processed by the financialservices sector, AI holds much promise for the industry. AI is a data-hungry beast, and banks produce a staggering amount of data these days.
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