FTX and Alameda Research, now bankrupt, must pay $8.7 billion in restitution and $4 billion in disgorgement following the sentencing of FTX founder Sam Bankman-Fried to 25 years in prison and another executive, Ryan Salame, to seven and a half years.
Sonic Automotive, a major player in the U.S. automotive retail market and headquartered in North Carolina, faced a significant financial setback following a recent ransomware incursion. This digital attack, targeting CDK Global, a pivotal software provider for numerous dealerships across North America, resulted in a marked decrease in Sonic’s earnings per share by a third for the quarter ending June 30.
In the latest revelation from the IBM Cost of a Data Breach report, the financial realm stands as the most burdened, with professional services and the technology sphere trailing closely, each grappling with breach expenses surpassing £5.4 million on average.
There exists a nuanced spectrum in orchestrating and nurturing bank-fintech collaborations. This complex landscape necessitates a keen understanding of pivotal factors and methodologies imperative for sustaining these relationships, irrespective of their objectives or frameworks.
In a rigorous examination, 109 regulated banks underwent a stress test simulating a hypothetical cyber onslaught that incapacitated their pivotal IT frameworks. Among these, 28 institutions faced an intensified evaluation, requiring them to provide supplementary data on their strategies for confronting the digital assault.
The Federal Trade Commission is investigating how companies like Mastercard and JPMorgan Chase use AI and personal data to set different prices for people.
Source: Global Relay
Global Relay, the leading provider of communications compliance solutions for regulated industries, announces its integration between OpenAI’s ChatGPT Enterprise Compliance API and Global Relay’s financial compliance platform.
A recent update from cybersecurity firm CrowdStrike caused a significant disruption to banks and payment systems globally, leading to widespread outages and operational challenges. This unexpected glitch in the update affected Microsoft's infrastructure, resulting in downtime for several key financial services and payment processors that rely heavily on Microsoft's cloud services.
