Source: NYDFS

Superintendent of Financial Services Adrienne A. Harris announced today that OneMain Financial Group LLC (“OneMain”) will pay a $4.25 million penalty to New York State for violations of DFS’s Cybersecurity Regulation (23 NYCRR Part 500).

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.

On May 30th, national officials from the G7 countries will convene in Japan to address the challenges presented by generative AI tools, such as ChatGPT.

Hospital chain CommonSpirit has revised its assessment of the financial impact caused by a ransomware incident that occurred last autumn and disrupted patient services at some of its facilities for an extended period. The estimated cost of the incident is now believed to be around $160 million, an increase of $10 million from the previous estimate released in February.

The American Bankers Association (ABA) has called on legislators to regulate stablecoin issuers in a manner similar to banks, arguing that two bills currently under discussion fail to meet the mark.

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.

A newly released report by the Global Financial Markets Association (GFMA) emphasizes the "transformative benefits" that distributed ledger technology (DLT) can bring to capital markets. However, the report also calls for regulators to adopt a more innovative approach to fully leverage these benefits.