All Data Privacy articles – Page 2
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PremiumLexisNexis survey: Compliance costs soared for U.K. banks in 2023
Nearly all but a tiny minority of financial institutions saw their costs of financial crime compliance rise in 2023, a survey by LexisNexis and Oxford Economics found.
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PremiumMany dating apps a matchmaker for cybercriminals, study finds
Location-based dating apps are not doing enough to protect user privacy, with exact location and other personal data being exploited by stalkers and bad actors, a recent analysis found.
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PremiumDORA set to enhance cyber resilience requirements for EU financial firms
The European Union’s Digital Operational Resilience Act, which is set to take effect next year, will require financial services firms to implement stronger measures to protect not only themselves from disruption caused by cyberattacks but also the sector as a whole.
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PremiumSFO staffing shortages improve under new leadership
Staffing shortages that have plagued the U.K. Serious Fraud Office are trending in the right direction since its new director took charge, with the anti-bribery agency forging ahead with initiatives to ensure its future sustainability.
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News BriefMeta reaches $1.4B settlement over Texas biometric data privacy lawsuit
Meta agreed to pay $1.4 billion to the state of Texas to settle allegations regarding the unauthorized capture and use of personal biometric data of state residents.
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PremiumWhat’s on tap for CPPA from its deputy director of enforcement
Michael Macko, deputy director of enforcement at the California Privacy Protection Agency, described priorities for the agency now and in the near future during a recent board meeting.
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WebcastCPE Webcast: Proactive AI compliance: 4 essential steps to minimize exposure
As artificial intelligence (AI) continues to advance rapidly and organizations expand their usage to optimize efficiency and productivity, implementing internal AI policies to ensure regulatory compliance and minimize exposure remains a hot topic.
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News BriefFTC 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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News BriefLithuanian DPA orders Vinted to pay $2.6M over GDPR violations
The data protection authority of Lithuania levied a fine of 2.4 million euros (U.S. $2.6 million) against Vinted UAB, an online clothing trading and exchange platform, for alleged violations of the European Union’s General Data Protection Regulation.
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News BriefEuropean Commission informs X it may be in breach of Digital Services Act
The European Commission informed X, formerly Twitter, that it may be the first company found to be in violation of the European Union’s Digital Services Act in areas “linked to dark patterns, advertising transparency, and data access for researchers.”
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News BriefFCC orders Sorenson unit to pay $34.6M over illegal data retention
Sorenson Communications agreed to pay $34.6 million and implement a comprehensive compliance program to settle allegations levied by the Federal Communications Commission that its subsidiary illegally retained call content of users who relied on captions to make and receive calls.
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News BriefFTC proposes $5M penalty for NGL Labs, founders over COPPA violations
The Federal Trade Commission ordered anonymous messaging app creator NGL Labs and its two founders to pay $5 million for unfairly marketed to children and falsely claiming artificial intelligence filtered out bullying messages and threats.
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PremiumHow 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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News BriefSpongeBob game developer ordered to pay $500K over CCPA, COPPA violations
Popular children’s mobile game developer Tilting Point Media agreed to pay $500,000 to settle allegations the company illegally collected children’s personal data, a violation under the California Consumer Privacy Act and a federal children’s privacy law.
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News BriefClearview 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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PremiumCiti 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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News BriefOCC 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.
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News BriefSEC 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.
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News BriefDOJ 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.
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OpinionTop-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.