Cybercrime

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The Essentials of Cyberattack Reporting

Cybersecurity sits firmly among the top priorities of any financial institution. The prevention of a breach is of utmost importance, but Cyberattack reporting requirements cannot be disregarded either. A case study. 2018 was another record year for malicious hacks and data breaches. In the first six months alone over 4.5 billion records were compromised by …

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Cybersecurity as a Competitive Edge

Why Cybersecurity needs to be considered a competitive advantage rather than just damage control. The Center for Strategic and International Studies (CSIS), a nonprofit policy research organization, last year together with McAfee published a report that put the annual cost of cybercrime at approximately $600 billion, or 0.8% of global GDP. An absolutely mind blowing …

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Managing Operational Risk in the Age of Digital Innovation

Be it the recent surge in cyber-attacks on financial institutions, the technical glitches that lead to flash crashes on trading venues, high numbers of fraudulent behaviour or simply the complexity of todays systems that comes with a significant probability of instability – the management operational risk has become one of the key priorities at financial …

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Risky Business or the takeaways from the latest ESMA Risk Dashboard

If you hadn’t noticed, we live in risky times. At least that’s what the European regulator ESMA is saying. With equity markets experiencing increased levels of volatility, cryptocurrencies in outright turmoil, constant threats to cybersecurity, and geopolitical issues like Brexit, Italy’s budget crisis or global trade wars, the financial watchdog is rather concerned about and …

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US regulators issue warning about false claims regarding endorsements of digital assets.

The SEC’s Office of Investor Education and Advocacy (OIEA) and the Commodity Futures Trading Commission’s (CFTC) Office of Customer Education and Outreach warn investors to watch out for false claims about agency actions and endorsements related to digital assets.  Fraudsters may use false claims to lure investors into purchasing digital assets and to artificially raise …

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How to improve Vendor Management Compliance and soften the Impact of New Regulations

Vendor Management Compliance is an increasingly important aspect for financial institutions and it is getting more and more complicated, too. New regulations further add to the challenge, but establishing the right framework is also an opportunity. An introduction to Vendor Management Compliance Vendor Management Compliance is an increasingly important aspect for companies. Why? Well, take …

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The Rise of Crypto Theft and How to Protect Your Valuable Coins

Crypto Theft is becoming more and more widespread. Thanks to the growing popularity of cryptocurrencies and ICOs, the cases of criminal acts are increasing. PlanetCompliance explains how these thefts work and what you can do to protect your valuable coins. If you own Ether*, the chances are high that at one time you were using …

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How Financial Regulators Steal Your Personal Data and Take Your Money

Now, come, you didn’t really believe that a financial regulator would steal our personal data and money, did you? But before you click away, stay with us for a little longer and continue reading because there is an interesting story behind the flashy headline. It’s the story about what fraudsters do to steal personal data …

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European Financial Watchdogs warn against Risks from Brexit and Cyber Security

The securities, banking and insurance sectors in the European Union (EU) face multiple risks, the latest report on risks and vulnerabilities by the Joint Committee of the European Supervisory Authorities (ESAs) shows. The ESA report for the second half of 2017 outlines the following risks as potential sources of instability: sudden repricing of risk premia as …

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