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Proposed new cyber security regulations will be a huge undertaking for financial institutions

Celent Banking

New York State Department of Financial Services (NYDSF) is one step closer to releasing cyber security regulations aided by the largest security hacking breach in history, against JP Morgan Chase. Mandated training of security will be required.

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Finance Ministry: India Retailers With $7M+ Sales Must Accept Debit Cards

PYMNTS

The fine for non-compliance is going to be ?5,000 Ministry of Electronics and Information Technology (MeitY) has identified Blockchain Technology as one of the important research areas having application potential in different domains such as Governance, Banking & Finance, Cyber Security and so on,” wrote Sanjay Dhotre.

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Artificial intelligence can keep big retail breaches at bay

Payments Source

Compliance checks today are not continuous or automatic, even in the largest of global enterprises. Traditionally, compliance audits are performed by organizations just once a year when, in reality, they need to be continuous in order to be effective, writes Manoj Asnani, lead of product and design for Balbix.

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The depth of Macy's breach pushes PCI compliance investment

Payments Source

The ongoing threat of data breaches serves as a reminder that every business is subject to PCI DSS compliance, no matter their size. Any company that handles cardholder data in any way must adhere to PCI DSS standards, which can be time-consuming and expensive, writes Matt VanderZwaag, director of product development at US Signal.

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

Perficient

Finally, views are sought for compliance with applicable laws and regulations, including those related to consumer protection. These technologies are also used to better target marketing in retail and customize trade recommendations in wealth management. Credit Decisions.

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Did EMV leave merchants vulnerable to more data breaches?

Payments Source

But experts say retailers' prioritization of EMV compliance contributed to other payment card security gaps, leading to the current high level of merchant data breaches. A direct correlation between the chip migration and rampant merchant data breaches is hard to prove.

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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.