Source: Egress
Research by Egress has revealed that an overwhelming 90% of security leaders are concerned about group legal settlements following a serious data breach, compared to 85% who are worried about regulatory fines. Launched to commemorate three years of GDPR, the research also found that almost half (47%) of consumers would likely join a class-action lawsuit against an organisation that had leaked their data, proving security leaders’ fears to be accurate.
AI-based financial crime detection startup ComplyAdvantage has extended its Series C round to $70 million, with a $20 million top-up from Goldman Sachs.
Source: FCA
The FCA has today set out plans for a new Consumer Duty, which will set a higher level of consumer protection in retail financial markets for firms to adhere to.
Responding to the recent hack of IT company SolarWinds, the New York State Department of Financial Services says that the next big financial crisis could come from a cyber attack.
The European Payments Council has issued a Request for Proposal to find an outsourced service provider for a new Sepa-wide Malware Information Sharing Platform to address real-time payments fraud risks.
Nearly three quarters of financial institutions have seen a rise in cybercrime since the Covid-19 pandemic began, according to a survey from BAE Systems.
Source: European Commission
The Commission proposes today new rules and actions aiming to turn Europe into the global hub for trustworthy Artificial Intelligence (AI).
Source: CFTC
Over the course of the conference you have heard others explain various developments in the evolution of bitcoin. Rather than repeat what you have already heard about the tremendous growth and noteworthy interest in bitcoin, my remarks instead will focus on the regulation of bitcoin. There are many federal and state regulators that also have an interest in bitcoin, as well as the entities that trade and custody bitcoin—among the most prominent at the federal level are the Securities and Exchange Commission (SEC), the Office of the Comptroller of the Currency (OCC), the Financial Crimes Enforcement Network (FinCEN), and the Commodity Futures Trading Commission (CFTC or Commission), where I have been privileged to serve as a Commissioner since 2018. Today, my focus is going to be on what we have been doing at the CFTC with respect to bitcoin and digital assets more generally.
