PYMNTS

NOVEMBER 23, 2020

Here’s the latest news from the technology industry, which is coming under increasing scrutiny from regulators around the world. Xavier Becerra said in the settlement announcement that Apple “withheld information about their batteries that slowed down iPhone performance, all while passing it off as an update. California will get $24.6

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JUNE 23, 2019

BIS said that the social media firm’s recent announcement that it aims to roll out its Libra digital currency and grow into payments has focused the minds of central bankers as well as regulators, Reuters reported. The Bank of England approaches Libra with an open mind but not an open door,” Carney said, per a Reuters report.

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OCTOBER 4, 2020

Facebook bought Instagram, the photo- and video-sharing social networking service, in 2012 for $1 billion and WhatsApp, the cross-platform messaging service, in 2014 for $19 billion. Facebook declined to discuss the information. The FTC didn’t immediately respond to a WSJ request for comment.

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NOVEMBER 18, 2018

Apple ’s CEO believes that new regulations for the tech industry are “inevitable.”. According to the Financial Times , Tim Cook said in an interview that “the free market is not working” and that the tech industry should embrace regulation. Generally speaking, I am not a big fan of regulation,” he said.

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DECEMBER 31, 2018

Some popular apps for Android smartphones are feeding data to Facebook without user consent, which could be a breach of the European Union’s (EU’s) General Data Protection Regulation ( GDPR ). The report came as the social media giant already faces issues related to GDPR. million USD), whichever is greater.

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NOVEMBER 2, 2020

Regulation. The Digital Services Act will be one of the regulations, which Vestager said will revise the eCommerce Directive and will make digital services take additional responsibility for contending with “illegal content and dangerous products.”. The Digital Markets Act is a second set of regulations. each month.

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PYMNTS

FEBRUARY 4, 2019

Back in 2017, WeChat admitted that it provided information about its users to the government after an update revealed that all the private information of customers will be disclosed to authorities in China. He believes the database should be available to court officials and police — not the general public.

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FEBRUARY 16, 2020

Facebook is something in between a newspaper and a telecommunications company, said CEO Mark Zuckerberg , and he wants it to be regulated accordingly, The Wall Street Journal reported. And in comments made last March, he said he believes more regulation is needed on social media companies.

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PYMNTS

JANUARY 18, 2019

Regulators in the United States have reportedly met to discuss levying fines against social media giant Facebook , a punishment that could be sizable in scope and which comes in the wake of privacy violations. The government shutdown currently underway has meant that regulators have not as of yet responded to the Friday reports.

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PYMNTS

SEPTEMBER 30, 2020

Consumers and businesses have been moving online in recent years, and regulators from the European Union to the Middle East and North Africa (MENA) region have worked to keep up with this migration. The pandemic is dramatically altering how merchants can transact, which data they can store and where they can store it, however.

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JANUARY 3, 2019

You can be sure that one area of regression involves social media. New research, in fact, supports that idea — specifically, the high value that consumers attach to Facebook , and the high cost it would take to make them leave the social media platform. But that doesn’t mean consumers plan to leave Facebook anytime soon.

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MARCH 31, 2019

Facebook CEO Mark Zuckerberg wrote an opinion piece in The Washington Post calling on regulators to take a “more active role” in making rules for how to police the internet, according to reports. “By By teaming up, states can share the resources and information.

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DECEMBER 4, 2019

Federal banking regulators support using alternative methods to assess creditworthiness to help high-risk people get loans, The Wall Street Journal (WSJ) reported on Tuesday (Dec. The regulators added that agencies choosing to tap into alternative data should do so judiciously.

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MARCH 20, 2020

India is making a move to tighten controls on big tech companies like Amazon and require them to turn over data and other requested information in a timely manner, Reuters reported on Friday (March 20), citing sources. It also coincides with increased eCommerce and other online traffic due to the coronavirus.

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FEBRUARY 28, 2019

The New York State Department of Financial Services has requested information from Facebook regarding apps that were sending sensitive personal data to the site, according to a report by The Wall Street Journal. The regulator is stepping up an investigation after the report showed the apps sent data like body weight and menstrual cycles.

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MAY 20, 2020

European Union (EU) regulators want feedback from users and digital service providers before they craft new rules that could manage giant tech firms Google, Facebook, Amazon and Uber, Reuters reported. Facebook Founder and CEO Mark Zuckerberg published “Charting the Way Forward: Online Content Regulation.”

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AUGUST 20, 2019

European Union antitrust regulators announced that they are “currently investigating potential anti-competitive behavior” related to Facebook ’s Libra. Maxine Waters, will hold a meeting with Swiss Federal Data Protection and Information Commissioner (FDPIC) Adrian Lobsiger. Facebook has said it will release Libra sometime in 2020.

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FEBRUARY 12, 2020

The DPC — which acts as the regulator for all of Europe — searched the social media giant’s offices in Dublin. Privacy regulators raised concerns that the new feature wasn’t compliant with the new General Data Protection Regulation (GDPR). The DPC said it was first told about the proposed dating feature on Feb.

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JANUARY 13, 2020

In other examples, end users must be informed when prices are based on their internet browsing histories. Sites are also required to offer free services that inform users when data is being collected and how it may be used. In India, Too. As reported by Reuters, the IT ministry is examining a two-tiered system for the rules.

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TheGuardian

DECEMBER 17, 2024

Watchdog ruled social media post failed to provide balanced information over banks ongoing financing of polluting industries A Lloyds Banking Group advert has been banned for making false environmental claims, making it the second major lender to break the UK advertising watchdogs rules against greenwashing.

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SEPTEMBER 30, 2018

Ireland’s Data Protection Commission, which is Facebook’s lead privacy regulator in Europe, has requested more information from the company about the breach, including which EU residents might be affected. billion if regulators find the company violated the bloc’s strict new data privacy law.

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MARCH 31, 2020

The necessity of such regulations is undeniable, however, as lagging data standards leave businesses and consumers open to fraud and boost frustration regarding the speed of digital transactions. Discussions can be further complicated by world events that change the way FIs, businesses and consumers interact. Sixty-three percent of U.S.

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NOVEMBER 21, 2019

President Barack Obama is concerned about the impact technology can have on society. “’Big, disruptive’ information technologies can sometimes be ‘dangerous,’” Obama said during a talk with Salesforce CEO Marc Benioff. If you watch Fox News, you live in a different reality than if you read The New York Times,” he explained.

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Abrigo

JANUARY 4, 2023

banking regulators recently warned financial institutions that dealing with cryptocurrency exposes them to an array of risks. Phishing scams: Phishing scams use emails with malicious links to gather personal details, such as users’ crypto wallet key information. The invested crypto goes straight into the scammer's wallet.

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JULY 23, 2019

The Swiss Federal Data Protection and Information Commissioner (FDPIC) said it still hasn’t heard from Facebook regarding its supposed oversight of Libra, the social media giant’s proposed cryptocurrency. . The organization said the information is crucial if it’s going to figure out how to manage the oversight of the currency.

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NOVEMBER 25, 2020

We’re a long way from the days when companies created datasets from huge swaths of pictures and profiles culled from social media, gathered without cross-checking or consent. He said that identity verification can be well-achieved by AI models, but the teams creating those models need access to data that doesn’t have built-in bias.

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DECEMBER 20, 2018

Thankfully, regulators are taking notice, and are passing protection laws like the General Data Protection Regulation ( GDPR ) — enforced in April 2016 and implemented earlier this year — and parts of the Second Payment Services Directive ( PSD2 ), set to take effect in September. Around The PSD2 World.

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PYMNTS

JULY 28, 2020

Potential overreach by European Commission investigators has won Facebook a breather from an intensifying probe by the powerful regulator into alleged unfair competitive practices by Big Tech. In its July 24 ruling, the EU General Court fell short of placing such personal medical and financial information off limits to investigators.

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JANUARY 25, 2019

The General Data Protection Regulation (GDPR), which went into effect May of 2018, has had some serious repercussions on tech companies all over Europe, but especially in the U.K. In 2016, customers took to social media to complain about a similar thing.

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Perficient

JULY 10, 2023

But, as one of the most regulated and notoriously untrusted industries, the financial services industry is among the most vulnerable to being impacted by negative digital media, driving up its vulnerability to reputational risk.

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DECEMBER 13, 2018

CUs are also actively communicating with law enforcement agencies, keeping regulators informed about suspicious activity, while receiving tips on noticeable trends that these same agencies are eyeing. However, their members are not the only ones with whom credit unions must regularly work.

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AUGUST 23, 2018

News came this week that Jinse, an information service that is backed by Node Capital, was among the accounts impacted in the freeze. In all, local media outlet Lanjinger has found that at least eight “legitimate” publications, according to The Next Web , have been impacted by the crackdown. Why WeChat?

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PYMNTS

JULY 1, 2019

The internet has flourished in part because platforms permit users to post and share information without fear that those platforms will be held liable for third-party content ,” the IA said. So, it has to be an independent regulator, with partial government oversight,” Shepherd said. “We

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PYMNTS

JULY 16, 2019

The Swiss regulator that Facebook claimed will oversee its cryptocurrency hasn’t heard from the social media giant, according to a report by CNBC. However, when the FDPIC was asked about its involvement, spokesperson Hugo Wyler said that he, like everyone else, was keeping track of Marcus’ comments through the media. “We

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PYMNTS

DECEMBER 12, 2019

The China Securities Regulatory Commission , China’s security watchdog, is setting up a technology regulation bureau and will announce Yao Qian as its new department chief, the Chinese business publication Caijing said on Wednesday (Dec. It would then use the information to recommend products. 11), as reported by Coindesk.

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PYMNTS

MARCH 31, 2019

The European Commission is nearing a decision on its investigation into Amazon , with the European Union competition chief saying over the weekend that the commission has gathered a lot of information on the eCommerce company. According to media reports during the past few months, the fine may be as high as $1.63

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JANUARY 28, 2020

European luxury brands are asking EU regulators to be harder on online tech giants like Amazon and Alibaba regarding fakes and privacy, Reuters reported on Tuesday (Jan. The timing coincides with a planned revamping of tech regulations by the European Commission. The internet at the beginning was free for anyone.

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