Data Management
Industry Groups Urge Cybersecurity Reforms After Major Regulator Data Breach
Four major trade associations are calling for sweeping cybersecurity reforms among federal financial regulators after a breach at the Office of the Comptroller of the Currency (OCC) exposed over 148,000 sensitive documents. In a joint letter to Treasury Secretary Scott Bessent, the Bank Policy Institute, American Bankers Association, Managed Funds Association, and SIFMA stressed that the breach highlights a broader risk of cyberattacks against critical government infrastructure.
MUFG and NTT DATA Test Photon-Based Tech to Prevent IT Outages
MUFG Bank and NTT DATA have successfully tested a cutting-edge solution to minimize IT outages by migrating live banking systems between data centers with less than one second of downtime.
FCA calls for input on the use of synthetic data to support financial services innovation
The Financial Conduct Authority has launched a study into the use of algorithmically generated synthetic data and its potential for safely opening data sharing between firms, regulators and other public bodies.
Ping Identity launches Consumer Data Right integration kit
Source: Ping Identity
Ping Identity (NYSE: PING), the intelligent identity solution for the enterprise, today announced the launch of a Consumer Data Right (CDR) Integration Kit enabling Australian banks and fintech company data holders to rapidly align with CDR regulatory requirements while also simplifying data recipient functionality.
Gaps in Financial Data Privacy Laws Raise Concerns
Over the past six years, 18 states have enacted data privacy laws aimed at giving individuals more control over their personal information and limiting unnecessary data collection.
European Commission adopts new tools for safe exchanges of personal data
Source: European Commission
Today, the European Commission adopted two sets of standard contractual clauses, one for use between controllers and processors and one for the transfer of personal data to third countries.
Morgan Stanley fined $60m over data centre decommissioning failures
The Office of the Comptroller of the Currency (OCC) has hit Morgan Stanley with a $60 million penalty for failing to properly decommission two wealth management data centres in 2016.
DoorDash Settlement: California Attorney General Cracks Down on Privacy Violations
California Attorney General Rob Bonta announced a resolution with DoorDash today, addressing breaches of the California Consumer Privacy Act (CCPA) and the California Online Privacy Protection Act (CalOPPA).
MobiKwik calls in external auditors to investigate alleged data breach
Having initially dismissed reports of the leak of 100 million customer files on the dark web, Indian payments processor MobiKwick has brought in external investigators to conduct a forensic data security audit.
Key Ring data leak exposes millions of user details, say researchers
Key Ring, an app that lets people upload and store card details, has left the information of millions of users exposed, according to researchers at vpnMentor.
CFPB Unveils Sweeping Changes to Fair Credit Reporting Act
The Consumer Financial Protection Bureau (CFPB) has unveiled extensive modifications to the Fair Credit Reporting Act (FCRA), signaling significant implications for data brokers, furnishers, and end users.
EBA calls on regulators to get tough with banks over data sharing
The European Banking Authority is calling on national supervisory authorities to take action against banks limiting access to payment accounts for third parties.
RegTech startup SteelEye raises $10 million
Enterprise data management RegTech SteelEye has secured $10 million in growth capital in a round led by the FinTech Strategic Investments team at Eight Roads, the proprietary investment firm backed by Fidelity, alongside existing investor Illuminate Financial.