Insurers told to conduct stress tests for cyber attacks
UK financial regulator concerned about impact of co-ordinated large-scale assault Source: Insurers told to conduct stress tests for cyber attacks
FSB releases report on “fintech credit markets.”
The Financial Stability Board (FSB) and Committee on the Global Financial System produced a paper on the risks and benefits presented by innovative credit offerings and markets. The report [full text] is the FSB’s latest in a series of studies aimed at “assessing the impact [of] fintech developments on the global financial system.”
Is China Outsmarting America in A.I.? – The New York Times
Reducing Risks Posed by Email Hoaxes
Banks can reduce security risks posed by email hoaxes through several steps: external source alerts, stricter email policies, employee education, use of domain-based message authentication, and software tools, American Banker says.
WannaCry and the GDPR
I was interviewed by the Wall Street Journal on how WannaCry might have played out if the EU GDPR had been in effect at the time of the attacks. You can read the article in the WSJ’s Cyber Security section.
Hackers Hide Cyberattacks in Social Media Posts – The New York Times
FinTech- Not Back Office Anymore!
Fintech innovations began in the back office but have since had the most impact on front-office functions, such as loans, mobile payments, and asset-management. “It is transforming banking as we know it,” says one fintech executive. Because of its decentralized model, fintech poses unique challenges for regulators, according toReuters, which also reports that Mizuho Financial…
Publishers call for rethink of proposed changes to online privacy laws | Media | The Guardian
Warning that new regulations will give Google, Apple, and Facebook too much control of advertising and personal data Source: Publishers call for rethink of proposed changes to online privacy laws | Media | The Guardian The current ePrivacy Regulation draft heavily favors first party relationships and drives a truck into the business model of third-party…
Hedge Fund Disruption!
Machine learning is threatening to disrupt the hedge fund industry as AI becomes powerful enough to forecast market moves better than people. As the industry “struggles with middling performance and outflows,” excitement is building for AI fields to “unlock lucrative patterns” in Big Data, the Financial Times reports.
Banks concerned over being able to meet EU data protection deadline
Aging and complex IT systems could scupper demand for an overhaul within a year. Source: Banks concerned over being able to meet EU data protection deadline GDPR? What? What’s this? Where did this come from? Have we known about this? We have? Why didn’t anyone tell me about this? You did? I didn’t listen?…
Nasdaq, Citi using blockchain for securities payments | American Banker
Nasdaq and Citi are partnering to utilize blockchain technology to expand and improve cross-border and private company securities payments. Source: Nasdaq, Citi using blockchain for securities payments | American Banker
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