The global average cost of a data breach jumped to an all-time high for the second year in a row, but companies can reel in the ballooning drag on profits by adopting artificial intelligence, according to an IBM report.
Cybersecurity
Posted inRegulatory Enforcement
FCC fines Charter Communications $15M over failing to report 911 outages
Charter Communications agreed to pay $15 million and put in place a “robust” compliance plan, including cybersecurity upgrades, to settle allegations it didn’t comply with emergency 911 and network outage notification rules, the Federal Communications Commission announced.
Posted inCybersecurity
Tufin names general counsel
Network and cloud security policy automation provider Tufin has named Christian Na as general counsel.
Posted inCybersecurity
Allegion announces general counsel
Global security products and solutions provider Allegion appointed Stacy Cozad as senior vice president, general counsel, and corporate secretary, effective Aug. 5.
Posted inEthics & Culture
How fintechs can overcome major compliance hurdles in embedded finance
Margaret Holmes Tibbets, chief compliance officer at financial technology company Pipe, explains how firms are facing an existential compliance crisis, and to survive they’ll need to overcome not one but two hurdles.
Posted inRisk Management
DOE offers supply chain cybersecurity guidance for energy, oil, gas industries
The U.S. Department of Energy released supply chain cybersecurity principles meant to help strengthen key technologies used to manage and operate electricity, oil, and natural gas systems.
Posted inData Privacy
OCC emphasizes compliance’s role in FI’s operational resiliency
Compliance departments at financial institutions must become more involved in ensuring their firm’s operational resiliency to address emerging risks, the Treasury Department’s Office of the Comptroller of the Currency said in its semi-annual risk perspective.
Posted inData Privacy
SEC orders R.R. Donnelley to pay $2.1M over cyber-related control violations
A business communications and marketing services company agreed to pay more than $2 million to settle charges levied by the Securities and Exchange Commission over cybersecurity-related control violations.
Posted inData Privacy
DOJ orders consultants to pay $11.3M total for cyber rule violations
Guidehouse and Nan McKay and Associates will pay a total of $11.3 million to the Department of Justice (DOJ) to settle allegations that cybersecurity failures led to the theft of client personal information during the height of the COVID-19 pandemic.
Posted inData Privacy
Top-of-mind takeaways from TPRM Summit
Top-of-mind issues addressed at Compliance Week’s Third-Party Risk Management & Oversight Summit, held June 3-4 in Atlanta, included safe deployment of artificial intelligence, assessing vendor viability and sustainability, understanding the role of procurement in risk ranking, the intersection (or lack thereof) between data privacy and cybersecurity, and many others.
