Editor's Blog
The Top Five Boardroom Issues Compliance Officers Should Be Discussing
GUEST BLOG POST Lately, I've been reflecting on my experience presenting compliance updates to boards, both during my industry days...
Research Digest
Health Care Patient Data Breaches Doubled in 2023, Reaching 87M
Health care companies are increasingly falling victim to sophisticated hacking efforts—including ransomware attacks—insider threats, and basic security flaws despite the...
Insight 360°
EU Passes World’s First Comprehensive AI Law
The European Parliament approved the Artificial Intelligence Act (AIA), a regulation aimed at ensuring safety and compliance with fundamental rights,...
Featured news
SEC Launches Cross-Agency Enforcement Council
The Securities and Exchange Commission’s Division of Enforcement launched the Interagency Securities Council (ISC), which will enable federal, state, and local regulatory and law enforcement professionals to meet quarterly to discuss the latest in scams, trends, frauds, and mitigation strategies. The ISC’s objective is to strengthen the cohesion between federal,
CC360 Staff
July 23, 2024
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AT&T Sued for Failing to Protect Customer Data in Cybersecurity Breach
After having nearly all of its customers’ records breached, AT&T is facing a class action lawsuit alleging that the cellular company failed to implement adequate cybersecurity procedures and protocols. The class action is taking place in Texas, Montana and New Jersey federal courts. The lawsuit arises out of an incident
Citi Fined by OCC and Federal Reserve for Risk Management Failures
The Office of the Comptroller of the Currency and the Federal Reserve fined Citigroup and its subsidiary, Citibank, $136 million for violating the risk management remediation benchmarks set by a 2020 enforcement action. The OCC fined Citibank $75 million and the Fed fined the bank $61 million. The penalties resulted
FINRA Fines UBS for Its Failure to Monitor Customer Fund Transfers
The Financial Industry Regulatory Authority announced that it has fined UBS Financial Securities $850,000 for the brokerage’s failure to monitor the transfer of customer funds to third parties and respond appropriately to any red flags indicating potential private securities transactions. The penalty stems from UBS’s failure to detect that one
