In an address at the MAS-Banque de France Seminar during Ecosperity Week, Marcus Lim, Assistant Managing Director (Banking & Insurance) of the Monetary Authority of Singapore (MAS), talked about how sustainability isn’t just about preventing the inevitable collapse of systems, it’s about maintaining balance before we reach a tipping point.
In a year marked by economic challenges and global uncertainty, Austria’s financial sector has shown impressive resilience. The Austrian Financial Market Authority (FMA) 2024 Annual Report paints a picture of a financial system that is not just surviving, but thriving amid the storm. Executive Directors Helmut Ettl and Eduard Müller highlighted how Austria’s banks and insurers managed to weather the storm, with a steady focus on stability and profitability—key pillars for navigating the turbulence ahead.
At the 2025 European Anti-Financial Crime Summit, Patricia Dunne, Director of the Horizontal Supervision Directorate at the Central Bank of Ireland, delivered a thought-provoking speech on the intersection of technology, innovation, and the fight against financial crime. Her remarks, titled "AML and Innovation — Opportunities and Challenges", were aimed at exploring the balance between embracing new technologies and ensuring that risks are effectively managed to protect the financial system.
UnitedHealth Group is making waves in the healthcare sector with the launch of 1,000 artificial intelligence (AI) applications across its insurance, health services, and pharmacy units. This ambitious move, originally reported by the Wall Street Journal, to integrate AI into core business operations is a game-changer for the industry, offering potential to streamline workflows, enhance the customer experience, and support medical decision-making. However, as AI continues to shape the future of healthcare, its governance remains a critical concern, particularly when it comes to claims processing, data privacy, and ethical considerations.
The Federal Trade Commission (FTC) is set to implement a new Rule on Unfair or Deceptive Fees, which will take effect on May 12, 2025. This regulation aims to combat deceptive pricing practices, including hidden fees and bait-and-switch tactics, in industries such as live-event ticketing and short-term lodging. The Rule seeks to ensure price transparency and protect consumers from misleading pricing strategies.
It’s not every day a fashion brand gets caught up in the tangled web of data privacy violations, but here we are. Todd Snyder, the well-known clothing retailer, has been slapped with a $345,178 fine by the California Privacy Protection Agency (CPPA) after failing to meet the standards set by the California Consumer Privacy Act (CCPA).
In an open letter to third-party software providers, Patrick Opet, the Chief Information Security Officer at JPMorgan Chase, has raised a red flag on a growing security vulnerability that’s quietly creeping through the global economic system. And this one might just be a game-changer for IT security, risk managers, and anyone involved in third-party risk management.