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New York Enhances Cybersecurity Regulations of Financial Services

SecureWorld News

On November 1, 2023, the New York Department of Financial Services (NYDFS) took a significant step toward strengthening cybersecurity defenses across the financial sector by finalizing amendments to Part 500 of its cybersecurity regulations.

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CFPB’s Proposed Data Rules

Schneier on Security

The rules would ensure people can obtain their own financial data at no cost, control who it’s shared with and choose who they do business with in the financial industry. This would change the economics of consumer finance and the illicit data economy that exists today.

Banking 320
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Top Cybersecurity Trends to Watch Out For in 2025

Centraleyes

Tools like ChatGPT and Bard, powered by large language models, showcase how generative AI transforms business processesbut they also pose new risks. Securing these AI models and the data they generate. In a recent survey, 93% of respondents admitted to knowingly increasing their companys cybersecurity risks. The challenge?

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New York Financial Services Firms to Face More Cybersecurity Oversight

SecureWorld News

The New York State Department of Financial Services (NYDFS) is proposing an amendment to its regulations that will require financial services companies to up their cybersecurity game. Require the CISO to provide a written report at least annually to the board or equivalent governing body.

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The Need to Simplify Compliance Risk Control Implementation

Security Boulevard

Securities and Exchange Commission (SEC) announced that the London-based educational publishing company Pearson agreed to pay $1 million to settle charges that it misled investors about a 2018 data breach. The SEC isn’t the only organization looking to enforce compliance to data breach laws and regulations. Want to learn more?

Risk 114
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A Deep Dive into the Last Vendor Breaches of 2024: What We Learned

Responsible Cyber

This escalation highlights the urgent need for organizations to prioritize the security of their vendor networks and assess their associated risks meticulously. Industries most affected by these breaches include healthcare, finance, and retail, where sensitive data is routinely shared with vendors for operational efficiency.

Risk 81
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The Relevance of Privacy-Preserving Techniques and Generative AI to DORA Legislation

Thales Cloud Protection & Licensing

The Relevance of Privacy-Preserving Techniques and Generative AI to DORA Legislation madhav Tue, 10/29/2024 - 04:55 The increasing reliance on digital technologies has created a complex landscape of risks, especially in critical sectors like finance. The world has changed.