- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Shifting regulatory compliance and financial standards create an urgent need for banks to dismantle barriers between finance and risk departments. SAS Expected Credit Loss is a new solution that’s helping them succeed.
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The era of artificial intelligence adoption is testing the old ways of doing compliance, underscoring the need for continuous monitoring. Compliance isn’t a one-and-done activity, but sometimes organizational incentives and goals fail to prioritize the importance of this.
Meta, the parent company of Facebook, has been fined nearly 798 million euros (U.S. $841 million) by the European Commission to resolve the agency’s long-running investigation into alleged “abusive practices” by Facebook Marketplace.
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.
