Some of America's biggest banks have joined forces with fintech firms to launch a non-profit organisation that tackles the contentious issue of sharing consumer data.
Bank of America, Citi, JPMorgan Chase and Wells Fargo are among the banks backing Financial Data Exchange (FDX), alongside a host of firms, including Intuit, Xero and Yodlee, that want access to consumer account data.

Anthem, Inc. has agreed to pay $16 million to the U.S. Department of Health and Human Services, Office for Civil Rights (OCR) and take substantial corrective action to settle potential violations of the Health Insurance Portability and Accountability Act (HIPAA) Privacy and Security Rules after a series of cyberattacks led to the largest U.S. health data breach in history and exposed the electronic protected health information of almost 79 million people.

A fragmented patchwork of data privacy rules threatens to upend the promise of new developments in financial technology across Asia, a leading trade body has warned.
Asifma, the financial industry’s regional trade association, highlights the challenges faced by firms in grappling with a multitude of regulatory mandates and suggests that policymakers focus on broad principles rather than precise rules.

EY and Apiax join forces to transform the way the financial industry handles regulatory compliance. Through their cooperation, the two companies offer financial institutions efficient ways to stay compliant with complex financial regulations digitally.

EverCompliant, the payments industry leader in online Anti-Money Laundering specializing in business cyber intelligence, announced today the launch of eKYC Discovery, a tool that addresses potential gaps in the Bank Secrecy Act and Anti-Money Laundering-mandated Know Your Customer (KYC) processes that could leave financial institutions exposed to criminal activity.

A North Korean hacking group has used the Swift network to try to steal more than $1.1 billion dollars from at least 16 financial institutions around the world since 2014, according to security specialist FireEye, which warns that he crooks are still operating.

The federal depository institutions regulators and the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) today issued a statement to address instances in which certain banks and credit unions may decide to enter into collaborative arrangements to share resources to manage their Bank Secrecy Act (BSA) and anti-money laundering (AML) obligations more efficiently and effectively.