All Technology articles – Page 23
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PremiumCW Europe: Compliance challenges in 2023 and beyond will look a bit different
Dealing with risks relating to artificial intelligence; diversity, equity, and inclusion; and shortfalls in staff, training, and expertise are set to be among the biggest challenges for compliance officers in 2023 and the years ahead, say practitioners.
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ArticleAutomation can improve AML compliance but won’t replace human touch
While automation has the potential to transform anti-money laundering compliance, it will not replace the human practitioners relied upon to get investigations to the finish line, experts discussed at the ACAMS annual conference in Las Vegas.
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ArticleNew OCC office to supervise fintechs
The Office of the Comptroller of the Currency will heighten its focus on the financial technology space with the creation of a new department in early 2023.
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ArticleFrench DPA latest to fine Clearview AI over GDPR violations
France’s CNIL became the fourth European data protection authority this year to fine Clearview AI over its controversial facial image aggregation practices, matching a pair of its counterparts with a €20 million (U.S. $19.6 million) penalty.
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ArticleICO guidance stresses importance of reasoning in employee monitoring
The U.K. Information Commissioner’s Office issued draft guidance to help ensure employers’ monitoring of staff performance does not turn into surveillance or harassment.
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ArticleAI monitoring benefits must be weighed against employee skepticism
The EU’s agency for occupational safety and health released a report examining the risks and opportunities of AI-based worker management systems for employee’s physical and mental wellbeing.
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ArticleExperts: EU Cyber Resilience Act puts pressure on tech developers, users
The EU’s proposed Cyber Resilience Act primarily puts pressure on tech manufacturers to ensure the cybersecurity of their products, but companies also have a duty of care to use the most secure products available.
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ArticleCompliance deficiencies highlighted in $1.8B crackdown on messaging apps
Eleven banks, investment firms, and their affiliates will pay a total of more than $1.8 billion in fines for “widespread and longstanding failures” in monitoring, maintaining, and preserving electronic communications by employees.
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Resourcee-Book: Managing regulatory, financial crime compliance risks of virtual assets
This free e-Book considers the new opportunities the virtual asset space has opened, as well as the risks deriving from criminal exploitation and a lack of regulatory oversight in this burgeoning area.
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PremiumAsk a CCO: Tech most subject to regulator scrutiny over next 5 years?
Four senior compliance practitioners offer what they believe will be the technology currently on the market that will receive the most attention from regulators over the next five years.
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PremiumAsk a CCO: Accounting for regulator expectations in using new tech
Regulatory environments are ever evolving; four senior compliance practitioners detail what their respective businesses do to ensure compliance while utilizing new technologies.
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PremiumAsk a CCO: Due diligence during Year 1 of implementing new tech
The first year is critical in assessing the success of implementing a new technology. Four senior compliance practitioners reveal how their respective firms carry out due diligence during implementation.
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PremiumAsk a CCO: How does your firm assess the efficacy of new tech?
Four senior compliance practitioners describe how they evaluate new technologies to determine whether they are the right fit for their respective companies.
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PremiumAsk a CCO: How do you get buy-in from leadership to invest in new tech?
Four senior compliance practitioners share keys to delivering a strong business case to management to secure budget resources for investment in new technologies.
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ArticleHow effective beneficial ownership searches leverage technology
Determining the ultimate beneficial owner of individuals and companies your firm does business with can be a tricky thing. The most efficient investigations require an understanding of your firm’s risk appetite and appropriate technology to automate searches.
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ArticleExperts: Europe’s AI Act to push companies to confront technology’s use
The Artificial Intelligence Act, along with upcoming EU rules addressing digital markets and services, should have companies considering their use of AI and other emerging technologies to determine how the laws might impact their business.
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ArticleStrategies for balancing risk/reward of investing in new technologies
Taking a step back before committing to a technology project to weigh the risks and rewards can prove beneficial in the long term. Consider the following best practices.
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ArticleOCC studying risks posed by bank-fintech partnerships
Bank-fintech partnerships have grown “at exponential rates” and become so complicated it is often difficult to distinguish “where the bank stops and where the tech firm starts,” Acting Comptroller of the Currency Michael Hsu said.
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ArticleLawsuit: Lax Coinbase cybersecurity led to theft of customers’ crypto
Coinbase is the subject of a class-action lawsuit alleging cybersecurity failures at the cryptocurrency exchange are to blame for customer accounts losing thousands of dollars in crypto, with the company not doing enough to prevent further thefts.
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ArticleBig bank messaging app crackdown exposes policy holes, monitoring struggles
U.S. regulators have signaled through an impending widespread enforcement sweep they are zeroing in on banker use of messaging apps to discuss business matters. The cases emphasize the need for financial services firms to enhance their monitoring and recordkeeping.