Remove Cyber Security Remove Fraud Remove Management Remove Regulation
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The cyber security threat landscape in financial services

Insights on Business

Gary Meshell, WW Leader Financial Services, IBM Security, opened his IBM Think 2019 talk, How Financial Services Companies Should Respond to Cyber Security Attacks with a bold assertion and truism. IBM and TD Bank jointly developed cyber security incident response solution for the financial services industry.

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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. The timing will undoubtedly put pressure on regulators to push through strong regulation. Information security.

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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. fraud detection and financial crime monitoring). email, text, audio data), with the aim of identifying fraud or anomalous transactions. Risk Management. Credit Decisions. Textual analysis.

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4 considerations for banking leaders concerned about cyber security

NCR

The overall risk management framework of any institution, including banks, should include cybersecurity considerations. An Information Security Officer (ISO) is mandated by federal regulations and plays a critical role in today’s digitally interconnected world. Evaluation of Risk. The Role of the ISO. Customer Responsibility.

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4 AI Predictions for 2023: From the Great Correction to Practical AI

FICO

Specific to artificial intelligence (AI), companies are reconsidering moonshot projects like self-driving cars ; Ford and VW exited their joint robotaxi venture, and Alphabet, with its Waymo subsidiary, is under particularly intense heat from activist investor TCI Fund Management. Here are my predictions for Practical AI in 2023: 1.

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Prepaid’s Summer Of Uncertainty

PYMNTS

That puts these products under the rubric of Regulation Z, which Fauss says was never meant to handle deposit accounts. Regulation Z governs credit products, forcing full credit underwriting when credit is extended. Fauss notes that is not a regulatory hurdle regular DDA accounts must clear.

Cards 100
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FICO’s New AML Scores Use AI and Machine Learning to Detect More Money Laundering

FICO

Artificial intelligence (AI) and machine learning (ML) technologies have long been effective in fighting financial crime, used more than 30 years for fraud detection. Unfortunately there is no reliable way to determine whether a SAR is defensive or not because of a lack of feedback from law enforcement and regulators.