Lawmakers in the European Parliament have reached a consensus on a stringent set of regulations governing the use of artificial intelligence (AI) within the European Union. The aim is to oversee AI systems, promote transparency, and enhance security.
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Experian is preparing to introduce a specialized edition of its fraud prevention data network, Hunter, in the United States, with several prominent companies committing to participate.
Hunter functions as a cooperative data network that grants participants visibility into borrower activities within the fintech sector to identify potential fraud risks. Through secure linkage across the network, participants share real-time information regarding fraudulent activities by contributing their own data.
When fintech companies establish new customer relationships or verify existing ones, they can cross-check against the network and receive alerts about suspicious information that matches observed fraud events.
According to Experian, Hunter is already utilized by over 450 organizations in 24 different countries, spanning various industries. The platform allegedly saves clients more than $6.5 billion annually.
Prior to its launch, the US version of Hunter aimed at the fintech sector has secured the participation of nine undisclosed firms.
Robert Boxberger, President of Experian Decision Analytics in North America, states, "By embracing a collaborative approach, fintech companies can leverage this additional data to make well-informed decisions that facilitate intelligent portfolio growth, enhance the customer experience, and mitigate substantial fraud losses."
NextGen Healthcare, a company based in the United States that specializes in electronic health record software, has acknowledged a security breach in which hackers infiltrated its systems and unlawfully obtained personal data belonging to over 1 million patients.
A new phishing malware strain that mimics legitimate apps to steal user credentials and banking data has emerged in Eastern Asia.
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.
New York Attorney General Letitia James has proposed a new state law designed to increase oversight of the cryptocurrency industry and boost consumer protections.
US President Joe Biden met with CEOs of several leading tech firms to discuss the dangers of rapid artificial intelligence (AI) adoption.
