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Four Steps for Managing Third-Party Cyber Security Risk

FICO

The latest Assessment of Business Cyber Risk (ABC) report from the US Chamber of Commerce and FICO discusses four steps for improving third-party cybersecurity risk management. Would there be compliance exposure in the event of a breach at the supplier? Obtain evidence of ongoing compliance with standards (e.g., if necessary?

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House Financial Services Committee forms AI working group

American Banker

Led by Congressmen French Hill and Stephen F. Lynch, the council will explore how artificial intelligence is influencing the development of new products and services, fraud prevention and other areas across the financial services and housing industries.

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Bank Regulators Seeking Comments on the Use of AI and ML in the Industry

Perficient

The agencies collectively announced a request for information (RFI) to gain input from stakeholders including financial institutions, trade associations, and consumer groups. Finally, views are sought for compliance with applicable laws and regulations, including those related to consumer protection.

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April 2014: A Busy Month for Fraud Alerts!

Jack Henry

One such attack by the group Unlimited Operations was able to net over $40 million. Distributed Denial-of-Service (DDoS) Cyber-Attacks and Risk Mitigation. The FDIC encourages subscribing to these various groups to ensure that you receive regular security alerts, tips, and other updates.

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Behavioral Analytics Attack Fraud, Cyber and Financial Crime

FICO

IDC predicts that in 2017, behavioral analytics across compliance, fraud, and cyber detection and prevention will be in place at 15% of banks, helping them to avoid losses, regulatory fines and sanctions. Power at scale: Enhancing fraud, compliance and cyber security defenses . Benefits beyond cost savings.

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Financial Trades Push for Retailer-Focused Data Security Bill

American Banker

Seven financial trade groups announced Monday that they are banding together to push legislation that would extend banklike data security standards to retailers and nonbank businesses.

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The FFIEC’s Architecture, Infrastructure, and Operations book

Cisco

In June 2021, following large cyber attacks on the United States and the resulting Executive order on Cyber security, the FFIEC released the largest update in guidance in over a decade to help financial auditors assess financial institutions. In Summary. This blog even as summary is quite long. Common AIO Risk Management Topics.