4138 Results from /regulation
Retired Member
On May 25th 2018, the EU General Data Protection Regulation (GDPR) will come into force and any business processing data about EU Citizens will be required to comply. This is arguably the most fundamental change to European data privacy laws in over twenty years. Failure to comply will result in substantial fines - as much as 4% of a firm’s annual...
06 April 2018 /security /regulation
Several organisations have considered the effect of GDPR in the context of whistleblowing and the steps required to investigate claims, but what are the implications when a whistleblower doesn’t follow set procedures and decides to take matters into their own hands? Under GDPR the responsibilities of data processors has been expanded. Previously, ...
04 April 2018 /security /regulation
Varun Maggon Senior Business Consultant at CustomerXPs Software Pvt. Ltd.
Cybercrime continues to be an unending botheration for banks. While the focus of attempts and attacks until recently, tended to be on the banks’ customers (via card and account detail compromises), of late fraudsters have become more sophisticated and have raised the stakes. They have shifted their focus and are now directly targeting banks. They ...
02 April 2018 /payments /regulation Transaction Fraud Systems and Analysis
Shubham Kumar Lead Consultant at Edgeverve Systems Limited
A couple of years ago, a report was published in India that Public Sector Banks lost more than $1.2 billion in loans where the documents provided were fake. Recently there were news reports that Federal Services Royal Commission (Australia) found that the Home loans were being given based on fraudulent documents. These are not isolated incidents a...
31 March 2018 /regulation Digital Banking Trends
Freddie McMahon Director Strategy and Innovation at DF2020 Ltd
Since the beginning of online services, lawyers have been the major influence upon the customer consent process. Their preferred instrument is to produce dense content, such as terms and conditions, combined with a tick box for the customer to acknowledge they have read, understood and given their consent. In practice, most people don’t read this ...
30 March 2018 /ai /regulation Fintech innovation and startups
There are very few things we can be certain of in regard to Brexit, other than the fact that it won’t be concluded in 2018. It would be premature, though, to dismiss Brexit as topic solely for the policy makers sitting in their ivory tower far removed from the technology and operations that keep financial markets running smoothly on a daily basis....
27 March 2018 /regulation Banking Regulations
The Economies of Compliancy is an emergent economics term that describes a competitive advantage of sharing practical regulatory knowledge and practices across entities. By means of a utility-based cloud service, business, non-profit or government, can lower their compliance costs and reduce the risks of non-conformance. For example, the cost of u...
23 March 2018 /ai /regulation Financial Services Regulation
The deadline for meeting the General Data Protection Regulation (GDPR) is on its way. But many non-EU investment management firms may not realize the extent to which they will be affected by this extensive new regulation quickly enough to meet the 25 May implementation date. All firms will need to comply with the new EU rules – no matter where t...
22 March 2018 /security /regulation MiFID
Reghunathan Sukumara Pillai Consultant at Infosys
Corporate Loans occupy significant size in the asset portfolio of large Banks. Most of the Banks have a well-defined corporate credit department comprising of relationship managers, credit appraisal officers, risk officers, approvers and Department heads. Corporate Loans not only generates interest and fee based income but also build the asset sid...
22 March 2018 /regulation Banking Regulations
A few days ago, the U.S. Securities Exchange Commission (SEC) updated its guidance to public companies for disclosure of cybersecurity risks and incidents. The SEC’s interpretation essentially creates a new regulatory disclosure category for cyber security incidents. The UK’s Financial Conduct Authority (FCA) also firmly includes cyber security in...
21 March 2018 /security /regulation Fintech
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