By Adrianne Appel2024-10-17T17:42:00
New York financial institutions are expected to address cybersecurity risks posed by artificial intelligence (AI), and new guidance from the New York Department of Financial Services (NYDFS) is aimed at helping firms do just that.
In a letter, published Wednesday, the NYDFS offered guidance to businesses about complying with the department’s comprehensive cybersecurity regulation (Part 500) when AI is involved.
The guidance for the cybersecurity regulation, first enacted in 2017, heavily amended in November 2023, and updated for small businesses in May, doesn’t impose new requirements, the NYDFS said.
2024-11-14T20:36:00Z By Adrianne Appel
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network issued an alert to financial institutions about their obligations to report deepfakes, warning artificial intelligence has given bad actors additional tools in their arsenal.
2024-11-04T14:28:00Z By Adrianne Appel
With the presidential election this week, one fear has remained on the minds of voters regardless of their political stripe–that artificial intelligence will be misused to change the outcome of the race.
2024-10-28T15:29:00Z By Aaron Nicodemus
Companies are adopting artificial intelligence tools at a breakneck pace, but it’s increasingly clear that they set guardrails early. AI leaders say that approaching the technology with safety and ethics in mind will help ensure its upside benefits, while avoiding the significant risks it poses as well.
2025-10-03T21:24:00Z By Adrianne Appel
While the Trump administration may have shifted away from pursuing small, white-collar, financial crimes, its focus on health care fraud cases is as hot as ever.
2025-10-01T21:10:00Z By Neil Hodge
The U.K’.s financial regulator has given a strong indication that financial firms’ use of unauthorized devices and apps is under scrutiny and that policies around off-channel communications need to be tightened up.
2025-09-29T19:09:00Z By Adrianne Appel
Regulatory relief from anti-money laundering rules is in the cards for casinos, insurance companies and other non-bank financial institutions, the U.S. Treasury Department’s Treasury’s Financial Crimes Enforcement Network (FinCEN) said Monday.
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