Cyber and Information security
Using artificial intelligence to fight financial crime – a legal risk perspective
27 February 2018 - Ian Rodgers
The Head of the Financial Crime Department at the UK Financial Conduct Authority (the FCA), Rob Gruppetta, gave a speech on “Using artificial intelligence to keep criminal funds out of the financial system” in December 2017 (1). In it, he explored how artificial intelligence (AI) could potentially be used to prevent financial crime, and for › Read More
US Consumer Financial Protection Bureau guidelines for third-party financial data sharing
12 November 2017 - Jacob Reed
On October 18, the U.S. Consumer Financial Protection Bureau (CFPB) published nine principles for the protection of consumers in the emerging financial data aggregation industry. The CFPB, which is charged with ensuring consumer access to fair and transparent financial services, emphasized that the principles are not intended as guidance on existing laws and regulations and › Read More
WP29 guidelines on personal data breach notification under GDPR
22 October 2017 - Anita Anand
The Article 29 Working Party this week published draft Guidelines on personal data breach notification under GDPR. The relevant GDPR provisions are often misrepresented, and in many respects leave matters open to interpretation – a good or bad thing depending on the day. Many are now asking what further clarity the draft guidelines bring for companies › Read More
26 April 2017 - Peter Eijsvoogel
A draft Dutch law will, once adopted, require mandatory notification of security breaches or loss of integrity of ICT systems that may have a significant impact on the availability or integrity of certain vital products or services (the Bill). The Bill will affect the financial services sector. The new law is expected to take effect › Read More
ICO announced record fine on TalkTalk in relation to cyber attack
06 October 2016 - Lawson Caisley
On 5 October 2016, the Information Commissioner’s Office announced that it had imposed a record fine on TalkTalk in relation to the cyber attack suffered by TalkTalk last year. Click here for the official announcement. The following key points arise out of the ICO’s decision and comments: TalkTalk was fined because the ICO concluded that › Read More
Cyber threats – the crest of the wave?
29 September 2016 - A&O , allen & overy , cybersecurity , yahoo Charlotte Mullarkey
Once again we learn of a vast data breach – this time relating to Yahoo user details. This is perhaps the biggest breach yet discovered. And “discovered” is the worrying factor. What else is out there? The Yahoo breach appears to have occurred several years ago – in 2014 – and was only revealed by › Read More