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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.

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.

The European Banking Authority is calling on national supervisory authorities to take action against banks limiting access to payment accounts for third parties.

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.

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.

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.

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.

Technological innovations in financial services (fintech) are increasingly transforming the way financial services are provided. While fintech opens opportunities, it also comes with potential risks.

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