article thumbnail

Today’s Cyber Risk Management

Cisco

While operational risk is not a contributing factor in a pandemic, the COVID-19 pandemic’s impact on financial services’ digitization does correlate with a material rise in cyber risk. It also put an even greater emphasis on cyber risk management within institutions and financial regulatory agencies.

article thumbnail

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. Information security. Data governance and classification.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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

Perficient

It involves using software to analyze both structured and unstructured data (i.e., email, text, audio data), with the aim of identifying fraud or anomalous transactions. This application of AI may use traditional data or employ alternative data (such as cash flow transactional information from a bank account).

article thumbnail

Four Steps for Managing Third-Party Cyber Security Risk

FICO

As TPRM or third-party risk management grows in importance, so does cybersecurity risk assessment as part of it. 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.

article thumbnail

4 considerations for banking leaders concerned about cyber security

NCR

With that comes the need to protect the data associated with all types of banking transactions. Evaluation of Risk. The overall risk management framework of any institution, including banks, should include cybersecurity considerations. Below are four considerations for banking leaders concerned about cybersecurity.

article thumbnail

Treasurers Trust Big Data For Real-Time Risk Assessment

PYMNTS

Risk management is complex territory for many businesses, especially those with complex partnerships, vast supply chains and global footprints. For fund investors, active risk management is of particular importance for treasurers, Hazeltree noted. One is in assessing counterparty strength.

Big Data 119
article thumbnail

Bitcoin Daily: Singapore’s MAS Looks To Expand Regulation Of Digital Token Services

PYMNTS

And the actions on risk will help with the new, more comprehensive use of technology in peoples’ lives that has also come with more threat of risk, the release says.