The use of generative artificial intelligence among Finnish financial institutions has climbed from 74% to 90% in a year, according to a regulatory survey that also found the technology moving further into customer-facing operations.
The Office of the Australian Information Commissioner (OAIC) received 667 notifications between January and June, compared with 662 in the preceding reporting period. Figures released Monday show that breaches involving large numbers of people became considerably more frequent, even as organizations improved the speed with which they identified incidents.
Six British lending firms have had their business activities restricted after the Financial Conduct Authority raised concerns about their anti-money laundering controls, with one company required to wind down its existing loan book and five others ordered to undergo independent reviews.
American Express devoted more attention to the money laundering risks of its deposit accounts than to those of its much larger credit and charge card business. Over the past decade, approximately $13 billion in suspected trade-based money laundering activity went without timely identification, evaluation and sufficient reporting, according to federal regulators.
The International Sustainability Standards Board has proposed new guidance on nature-related financial disclosures, but companies would not have to follow it to claim compliance with the board's sustainability reporting standards.
The Office of the Comptroller of the Currency (OCC) finalized regulations governing payment stablecoin issuers on October 21, setting federal standards for reserves, redemption, risk management, and supervision ahead of the GENIUS Act's January 2027 effective date.
At its worst in 2024, the shortfall in Coinbase Ireland's customer safeguarding account reached €5.2 million. The company was required to keep enough money in the account to cover its obligations to customers. For at least 18 months, it fell short every day.
Access Login