All Technology articles – Page 5
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News Brief
FTC wants answers from Mastercard, JPMorgan, others on use of AI to collect data
Eight large companies, including Mastercard and JPMorgan Chase, have been ordered by the Federal Trade Commission to provide detailed reports about their possibly secret use of artificial intelligence to track customers and use the information to set prices.
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Off-channel comms ‘hottest’ SEC mock exam topic, survey finds
Nearly three-quarters of compliance professionals at investment firms have made testing for off-channel and electronic communications surveillance a top priority in mock exams, according to a new poll, with more than half calling it the “hottest” topic of discussion.
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News Brief
Employees accuse OpenAI of illegal NDAs blocking whistleblower rights
Anonymous employees of OpenAI accused the company of requiring employees to sign nondisclosure agreements (NDAs) that “prohibited and discouraged” them from reporting securities law violations to federal regulators.
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News Brief
Ex-Paxful co-founder pleads guilty to violating BSA/AML regulations
The co-founder and former chief technology officer of crypto peer-to-peer network Paxful faces charges related to violating the anti-money laundering requirements of the Bank Secrecy Act.
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News Brief
Ex-Outcome Health execs sentenced for overbilled ad revenue, misleading auditor
Three former executives of Chicago-based Outcome Health, a healthcare technology company, were sentenced for misleading an auditor, clients, lenders, and investors about a scheme to sell $45 million in overbilled advertisements.
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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.
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Banks must bolster awareness of fintech partner risks, experts advise at Fordham
During a panel at Compliance Week’s Financial Crimes and Regulatory Compliance Summit, held June 10-11 in New York, experts discussed nuances in bank-financial technology partnerships, offering best practices for how banks should protect themselves.
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News Brief
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.
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Webcast
CPE Webcast: Risk management at the speed of business
Are your risk management operations keeping up with the speed of business? In today’s digitized and interconnected world, organizations face increasing risk at a rapid pace.
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News Brief
Clearview AI agrees to pay stake in company to settle Illinois privacy lawsuit
Facial recognition company Clearview AI reached a preliminary settlement in a class action lawsuit alleging it violated the Illinois Biometric Privacy Act, with the company agreeing to compensate victims with stake in the company.
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Citi report: GenAI revolution will bring increased need for compliance
A new report on the use of artificial intelligence in financial services predicts that the technology will drive profits, disruptions, and change over the next decade.
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SEC, CFTC actively probe off-channel comms violations, top officials say
Two senior officials from the Securities and Exchange Commission and Commodity Futures Trading Commission described how both agencies are committed to rooting out off-channel communications among registered entities for the long term.
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Opinion
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.
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News Brief
Ex-Synchronoss CFO fined, banned over SOX violations
The former chief financial officer at Synchronoss Technologies was fined a ban from the industry for widespread Sarbanes-Oxley Act violations.
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News Brief
Evolve Bank ordered by Fed to address AML, sanctions lapses
The Federal Reserve Board ordered an Arkansas bank that partnered with numerous financial technology companies to correct deficiencies in its anti-money laundering, sanctions, risk management, and consumer compliance programs.
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Webcast
CPE Webcast: Acting responsibly with generative AI: How to manage the risks and rewards in the workplace
Generative artificial intelligence has gained immense popularity, but its adoption by businesses introduces ethical risks. Organizations must prioritize responsible use of generative AI by ensuring it is accurate, safe, honest, empowering, and sustainable.
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News Brief
Former CEO of AI recruiter Joonko charged with $27M fraud
The former chief executive officer of closed AI recruitment startup Joonko faces up to 40 years in prison and the potential of penalties levied by the Securities and Exchange Commission for allegedly defrauding investors of more than $27 million.
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Webcast
CPE Webcast: Compliance programs under scrutiny
Explore government expectations for compliance programs and how companies facing regulatory scrutiny design and implement programs to position themselves for the best possible outcome.
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Premium
Experts: AI risk mitigation second nature for compliance professionals
Compliance has been “sleeping on” artificial intelligence, two panelists discussed at Compliance Week’s Women in Compliance Summit. The profession should be positioned to lead on AI governance at the business level.
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OCC’s Hsu encourages banks to apply guardrails to AI use
Warning of an “eventual reckoning” on artificial intelligence use by financial institutions, the acting head of the Office of the Comptroller of the Currency said the industry should learn lessons on how similar disruptive technologies evolved from being helpful to dangerous.