Financial Regulator Urges Increased Investment to Tackle AI Risks and 'Deep Fake' Fraud
FCA head Nikhil Rathi has called on banks to increase their expenditure in order to counter the surge in AI and the menace of 'deep fake' fraud.
HSBC Launches AI-powered ESG Index to Measure Company Performance and Financial Returns
HSBC recently unveiled a new global Index that utilizes advanced technology to assess a company's ESG (Environmental, Social, and Governance) credentials and its potential for positive financial outcomes. Developed by Arabesque AI and powered by ESG Book's data, this Index aims to monitor the performance of over 1,000 globally traded company stocks that are expected to experience financial gains through enhancing their ESG risk.
LexisNexis Risk reports 20% annual increase in digital cyber attack rates
Source: LexisNexis Risk Solutions
LexisNexis Risk Solutions today released the results of its annual Cybercrime Report, an analysis of data from 79.8 billion transactions processed through its LexisNexis Digital Identity Network throughout 2022.
Biden and Harris address AI regulation with BigTech CEOs
US President Joe Biden met with CEOs of several leading tech firms to discuss the dangers of rapid artificial intelligence (AI) adoption.
Themis releases supply chain risk assessment tool
Source: Themis
Themis has announced the release of its innovative supply chain risk assessment tool, which allows companies to map out high risk geographies and sectors and possible touch points from financial crimes including modern slavery and human trafficking, drugs, wildlife and arms and trafficking, bribery and corruption, fraud, money laundering and terrorist financing.
SMEs across the US & Canada lack cybersecurity experts and incident response plans, according to Huntress
According to a recent report by Huntress, 99% of businesses in the United States and Canada are mid-sized businesses facing cybersecurity challenges. The report reveals that mid-sized businesses are struggling to implement basic cybersecurity measures, including incident response plans, security awareness training, and cyber insurance coverage.
Stablecoins at Risk of Failing Under New Risk Management Rules, says FSB
The Financial Stability Board (FSB) has raised concerns over the ability of existing stablecoins to pass new risk management rules currently in development. This comes after the collapse of FTX and other events over the past year, which exposed the volatility and structural vulnerabilities of crypto-assets.
SEC Finalizes T+1 Settlement Cycle to Enhance Risk Management
The US Securities and Exchange Commission (SEC) has recently implemented new rule changes aimed at decreasing risks involved in securities clearance and settlement by reducing the settlement cycle to one business day, or T+1.
