GRC Report Staff

The Federal Trade Commission (FTC) has mandated that software provider Avast pays $16.5 million and cease the sale or licensing of web browsing data for advertising purposes. The settlement comes as a response to charges asserting that Avast, along with its subsidiaries, violated privacy commitments by selling user data despite assuring customers that its products would safeguard them from online tracking.

California Attorney General Rob Bonta revealed a settlement with DoorDash, concluding an investigation that exposed the company's breaches of the California Consumer Privacy Act (CCPA) and the California Online Privacy Protection Act (CalOPPA).

In a recent report by industrial cybersecurity firm Dragos Inc., alarming statistics indicate a 50% increase in ransomware attacks targeting the industrial sector in 2023. The report, titled "The Importance of Industrial Cybersecurity," underscores the critical role cybersecurity plays in safeguarding industrial operations as companies embrace digital transformation.

In a recent talk at Vanderbilt University, Michael Hsu, Acting Comptroller of the Currency, delved into the critical issue of managing risks in the financial sector, particularly concerning the blurring lines between banking and commerce. The event, hosted by Professor Morgan Ricks, provided Hsu with a platform to share insights gained from his extensive experience, spanning the 2008 Global Financial Crisis to his current role overseeing the federal banking system.

Airbus has recently outlined plans to increase aircraft deliveries to customers in 2024, despite grappling with persistent supply chain disruptions. The European aerospace giant revealed robust results for its commercial aircraft business in its latest annual earnings report, signaling optimism for the coming year with a target of 800 commercial aircraft deliveries—65 more than the previous year.

In a regulatory filing on Friday, JPMorgan Chase and Co disclosed that it will pay approximately $350 million in civil penalties to resolve issues related to incomplete trading data reported to surveillance platforms. The penalties come in response to government inquiries into the bank's trading processes.

In an era where Artificial Intelligence (AI) is at the forefront of technological innovation, the financial services industry finds itself at a crossroads. As AI becomes increasingly pivotal in shaping the global economy, its potential benefits are matched only by its potential risks. In a recent address, the Chief Data, Information, and Intelligence Officer of the Financial Conduct Authority (FCA), Jessica Rusu, shed light on the critical issues surrounding AI adoption in financial services.