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Each year, the first week of March (March 2-8) is recognized as National ConsumerProtection Week (NCPW). During this time, many government agencies and consumerprotection organizations come together to help educate consumers on how to keep their personal and financial informationsecure.
The AI revolution in finance presents numerous opportunities and, simultaneously, the potential for many risks , specifically regarding consumerprotection. Financial institutions must emphasize trust-building measures by preserving data privacy and consumerprotection to mitigate risk in AI systems. and investor doubts.
Federal InformationSecurity Management Act (FISMA). Health Insurance Portability and Accountability Act (HIPAA). The Health Information Technology for Economic and Clinical Health Act (HITECH). Maryland Personal InformationProtection Act – Security Breach Notification Requirements – Modifications (House Bill 1154).
are subject to laws such as the Health Insurance Portability and Accountability Act (HIPAA) and the Health Information Technology for Economic and Clinical Health Act (the HITECH Act), as well as regulations such as the Clinical Laboratory Improvements Amendments (CLIA). Financial Data Protection Laws.
Each of these regulations addresses different aspects of cybersecurity and data protection, making it essential for businesses and organizations to stay informed and proactive. The act also requires institutions to allow customers to opt out of having their information shared with non-affiliated third parties.
The California Privacy Rights Act (CPRA)—a more stringent update of the California Privacy Protection Act (CCPA)—goes into effect January 1, 2023, adding in employee data and business-to-business data under its scope of privacy protection. Enterprise endpoint protection and remediation (anti-malware, anti-virus software).
Two months after fully restoring its systems, CNA Financial, the leading US insurance company that was attacked by a group using Phoenix CryptoLocker ransomware, issued a legal notice of an informationsecurity incident to the ConsumerProtection Bureau in New Hampshire.
Despite these results, 72% of respondents report feeling more cyber resilient than they were last year. Is this confidence misplaced? 34% assess device and system interconnectivity and vulnerability across the business ecosystem.
Mo Wehbi, VP, InformationSecurity & PMO, Penske Automotive Group: The Good and the Bad "The Good: Widespread Adoption of AI and Machine Learning for Threat Detection: AI will become more sophisticated and integral in identifying threats in real-time, reducing response times and mitigating risks faster than ever before.
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