Recently, the European Data Protection Board (EDPB) adopted an opinion addressing key data protection concerns arising from the use of Artificial Intelligence (AI) models. The opinion specifically focuses on how GDPR...more
1/3/2025
/ Anonymization ,
Artificial Intelligence ,
Cybersecurity ,
Data Processing Rules ,
Data Processors ,
Data Protection ,
Data Protection Impact Assessments (DPIAs) ,
EU ,
European Data Protection Board (EDPB) ,
General Data Protection Regulation (GDPR) ,
Impact Assessments ,
Personal Data
The New York State Department of Financial Services (NYDFS) and the Attorney General’s office have recently imposed significant fines totalling $11.3 million on Geico and Travelers for data breaches that compromised the...more
12/10/2024
/ Breach Notification Rule ,
Corporate Fines ,
Cybersecurity ,
Data Breach ,
Enforcement Actions ,
Financial Services Industry ,
GEICO ,
Incident Response Plans ,
Insurance Industry ,
NYDFS ,
Personally Identifiable Information ,
Privacy Laws ,
Risk Mitigation ,
Security and Privacy Controls ,
Sensitive Personal Information ,
State Privacy Laws ,
Travelers Property Casualty Co.
This month, an interim report on artificial intelligence in the financial sector was published for public comment. The report was written by the Ministries of Justice and Treasury, the Competition Authority, the Securities...more
11/25/2024
/ Artificial Intelligence ,
Cybersecurity ,
Discrimination ,
Financial Institutions ,
Financial Regulatory Agencies ,
Financial Services Industry ,
Fraud ,
Information Reports ,
Insurance Industry ,
Investment Adviser ,
Israel ,
Portfolio Managers ,
Risk Assessment ,
Risk Mitigation ,
Underwriting
The Digital Operational Resilience Act (DORA) is an EU regulatory framework, aimed at enhancing the financial sector’s ability to withstand and recover from ICT (information and communication technology) disruptions....more
10/9/2024
/ Compliance ,
Cross-Border ,
Cyber Incident Reporting ,
Cybersecurity ,
Data-Sharing ,
Effective Date ,
EU ,
Financial Institutions ,
Financial Services Industry ,
Information Technology ,
Israel ,
Regulatory Standards ,
Risk Management ,
Third-Party
Examining AI tools: Before deciding to purchase and implement AI tools in an organization, one must consider various aspects, including privacy issues, discrimination, copyright protection, and suppliers and contracts. The...more
A few days ago, United States President Joe Biden signed the “Executive Order on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence.” The purpose of the executive order is to determine the US...more