It’s not every day that major banks start treating a federal regulator like a cybersecurity risk. But after a quiet email breach inside the Office of the Comptroller of the Currency (OCC) stretched on for more than a year undetected, JPMorgan Chase and Bank of New York Mellon have decided to pump the brakes on how much sensitive information they’re sending.
A recent survey from KPMG last month paints a sobering picture of the state of risk management in U.S. organizations. Despite heightened awareness of increasing risks and disruptions, more than half of U.S. organizations are still struggling to integrate proper risk and resilience capabilities. The survey, which gathered insights from 208 C-suite leaders, reveals that 52% of companies have not yet built the necessary organizational structures to effectively manage risk and resilience.
The Commission Nationale de l'Informatique et des Libertés (CNIL) has just rolled out an ambitious strategy aimed at tackling the increasingly complex world of personal data protection. As digital spaces grow, data flows faster, and technology advances at a breakneck pace, the CNIL’s new plan for 2025-2028 aims to take the lead—not just in France or Europe, but globally—in safeguarding personal data.
The shadow of financial crime looms larger than ever over Europe, as a new special edition of the 2024 Global Financial Crime Report sheds light on the vast scale of illicit activity across the region. This report dives deep into the financial crime landscape of Europe, with a specific focus on the European Union (EU), the United Kingdom (UK), and the Nordic countries. The findings paint a sobering picture of the challenges ahead, with billions of dollars flowing through illicit channels that pose a significant threat to both financial institutions and society as a whole.
Ireland’s privacy watchdog has questions, and they’re pointed squarely at Elon Musk’s X. On Thursday, the Irish Data Protection Commission (DPC) announced the launch of a formal inquiry into X Internet Unlimited Company (XIUC), the newly named data controller for X’s EU user base. The central issue? Whether publicly accessible posts by European users have been quietly fed into the company’s generative AI system, Grok, without proper legal basis.
Italy’s Personal Data Protection Authority (Garante) has launched an investigation into Lusha Systems, a US-based company that’s no stranger to controversy in the world of online data. Known for selling “enriched” contact details, including email addresses and phone numbers, Lusha’s services are accessible to users in Italy, though it seems some of the data within its platform might not be as straightforward as one would hope.
As Klaas Knot prepared to deliver his final speech at the Eurofi conference in Warsaw, his message was that in times of uncertainty, resilience and cooperation are key to navigating the unpredictable, resonant words in today's dynamic environment. Reflecting on his years as President of De Nederlandsche Bank (DNB), Knot shared his thoughts on the evolving financial landscape, the importance of robust policies, and the need for global collaboration to safeguard long-term stability.