Virtual currency brokerage firm Genesis Global Trading agreed to pay an $8 million penalty levied by the New York State Department of Financial Services for alleged compliance failures that left it vulnerable to illicit activity and cybersecurity threats.
Cybersecurity
Posted inRisk Management
NIST report: Mitigating the risks of cyberattacks on AI systems
Cyberattacks on artificial intelligence systems are increasing, so it’s important users know their vulnerabilities and try to soften the damage if they get hit, according to a new report by the National Institute of Standards and Technology.
Posted inRisk Management
Deepfakes: A silent threat to digital integrity and AML efforts
Deepfakes have emerged in the digital world as a silent pandemic threatening not only our digital integrity but becoming a major risk to anti-money laundering efforts.
Posted inData Privacy
CPPA preview: Cybersecurity audit regs nearing formal proposal
Companies with business in California could face tough new cybersecurity mandates under draft regulations that could be headed for formal rulemaking as soon as Friday.
Posted inRisk Management
FINRA report: Exam trends on off-channel comms, crypto, cybersecurity
A new report from the Financial Industry Regulatory Authority provides observations from examiners on emerging issues affecting the industry, including surveilling potential use of off-channel communications by employees, crypto-asset developments, cybersecurity trends, and more.
Posted inRegulatory Policy
CMMC implementation plan takes shape in proposed rule
The Department of Defense released for comment a proposed rule setting guidelines for implementation of the Cybersecurity Maturity Model Certification program.
Provided by
Empowering Cybersecurity Governance and Disclosures
Do you have a clear vision of what ‘good’ means when it comes to managing governance and your security program? Setting the right targets for your organization is crucial.
Posted inAML, Cybersecurity, Data Privacy, Ethics & Culture, Europe, Financial Services, Regulatory Enforcement, Risk Management, Sanctions, Surveys & Benchmarking
Top ethics and compliance failures of 2023
A virtual currency exchange that sought to mislead regulators, banks failing after ignoring obvious risks, and a manufacturer that sold millions of its products in violation of U.S. export controls are among those that make up CW’s list of the biggest ethics and compliance fails of 2023.
Posted inEurope
Experts: More privacy rules, enforcement expected in 2024
Businesses can prepare for a bumpy ride as the 2024 global landscape of data privacy and other related laws and regulations begins to take shape.
Posted inRisk Management
DOJ sets expectations for SEC cyber incident disclosure delays
Companies won’t have an easy path toward earning additional time from the Department of Justice regarding the disclosure of a material cybersecurity incident to the Securities and Exchange Commission as required under a new rule.
