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Four Steps for Managing Third-Party Cyber Security Risk

FICO

The latest Assessment of Business Cyber Risk (ABC) report from the US Chamber of Commerce and FICO discusses four steps for improving third-party cybersecurity risk management. Would there be compliance exposure in the event of a breach at the supplier? Obtain evidence of ongoing compliance with standards (e.g., if necessary?

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Finance Ministry: India Retailers With $7M+ Sales Must Accept Debit Cards

PYMNTS

RuPay is a payment network offered by National Payments Corp. The fine for non-compliance is going to be ?5,000 In November , India’s Minister of state for electronics and IT (MeitY) announced that the government is drafting a national framework to expand the deployment of blockchain use cases.

Cards 130
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Corporates Unprepared For GDPR, UK Government Warns

PYMNTS

“These figures show many organizations still need to act to make sure the personal data they hold is secure and they are prepared for our Data Protection Bill,” he said, adding that the National Cyber Security Centre provides free guidance to companies to help them become GDPR compliant, according to reports in ZDNet.

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Inside China’s Cyber, Financial Regulatory Changes And Challenges

PYMNTS

The country takes privacy, particularly financial privacy, seriously, passing its Cyber Security Law in 2016, followed by the Personal Information Security Specifications in 2018 and the MLPS 2.0 Banks are familiar with upgrades to their internal and local compliance standards, but China represents a different kind of challenge.

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Bank Regulators Seeking Comments on the Use of AI and ML in the Industry

Perficient

The five federal agencies are: the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board (Fed), the National Credit Union Administration (NCUA) and the. Office of the Comptroller of the Currency (OCC).

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Analysts Challenge US House Data On SME Cybersecurity

PYMNTS

House Committee passed proposed legislation last week that would require the National Institute of Standards and Technology (NIST) to create cybersecurity guidelines developed specifically for SMEs. Further, Kaspersky Lab found that 63 percent of FIs believe regulatory compliance doesn’t necessarily guarantee security.

Data 101
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Could a National Know-Your-Customer Registry Be in the Cards?

American Banker

Comments by JPMorgan Chase's Jamie Dimon have added fuel to the long-discussed idea of a national database that would make it easier for banks to vet customers for anti-money-laundering and other risks.