Other recent privacy legislation includes the Gramm-Leach-Bliley Financial Services Modernization Act of 2001, which required that financial institutions disclose to customers how they use private information.
Republican Jim Leach said: "The very characteristics that make the internet such a valuable resource are also the reasons why it has such a huge potential to impinge on the stability of the American family, American financial institutions and our...
A global survey has revealed that 39 per cent of financial institutions experienced at least one security breach within the past year. Of the institutions surveyed globally, 47 per cent have maintained or increased IT security staffing in the past...
Fraud and money laundering regulations and the Basel II accord will drive $4.8bn of investment in new technology by European banks by 2006, according to new research. Anti-money laundering guidelines from regulators such as the UK's Financial...
That law, called the California Security Breach Information Act, and the federal Graham-Leach-Bliley Act and the Health Insurance Portability and Accountability Act (HIPAA) are intended to prod the industry to adopt better data-handling practices.
Financial Services Authority (FSA) might be lenient on those banks not fully compliant for up to 18 months, as the implications of MiFID slowly become clear. MiFID investment banking regulations come into force, it is still unclear how prepared...