The Consumer Financial Protection Bureau (CFPB) says it has suffered a data breach which saw an employee forward the personal information of more than quarter of a million Americans to a personal email account.

Genesis Market, which sold digital identities and 'bots' containing stolen data from over 2 million people, was taken offline in a coordinated operation called "Operation Cookie Monster" involving 17 countries.

The California Department of Financial Protection and Innovation has taken control of Silicon Valley Bank, with the FDIC appointed as receiver due to concerns of "inadequate liquidity and insolvency.

The EU’s AI Act has been pushed through to the trilogue stage after nearly two years of drafting. The draft includes requirements for generative AI tools, like ChatGPT, to disclose the copyrighted material used in developing their programmes.

The US Commodity Futures and Trading Commission (CFTC) has filed a complaint against Binance, its CEO Changpeng Zhao, and three entities that operate the Binance platform, alleging multiple violations of the Commodity Exchange Act (CEA) and CFTC regulations.

A bipartisan bill, backed by the White House and introduced by a dozen U.S. senators on Tuesday, is proposing that the federal government initiate a process to systematically block foreign technology from reaching the domestic market when the technology poses a national security threat. The Restricting the Emergence of Security Threats that Risk Information Communications Technology (RESTRICT) Act could result in restrictions for the social media platform TikTok, which is owned by Chinese company ByteDance, according to its supporters.

The Markets in Crypto-Assets (MiCA) crypto licensing regulations have been overwhelmingly approved by the European Parliament, with MEPs voting 517-38 in favor of the new regime.

The trade association CryptoUK has expressed concern to the UK government about recent actions by banks to restrict cryptocurrency purchases.

A group of Senate Democrats, led by Elizabeth Warren, have urged financial regulators to take action against fraud related to Zelle, a peer-to-peer payments service owned by seven of the largest banks in the US through Early Warning Services.

The former CIO of TSB Bank has been fined over £80,000 for his role in a problematic IT migration programme in 2018 that resulted in customers being locked out of their accounts for several weeks and caused ongoing technical issues for months.

The Financial Conduct Authority (FCA) has issued a warning to nearly 300 payment firms, stating that they must take prompt action to address "unacceptable" risks to consumers and the financial system or face closure.

Source: Wolters Kluwer

Wolters Kluwer, the Dutch technology company, will bring together four of its global enterprise software businesses to form a new division, Corporate Performance & ESG.