Category «Financial System»

AI In Finance and Banking – July 15, 2024

This semi-monthly column by Sabrina I. Pacifici highlights news, government documents, papers by economists, NGO/IGOs, speeches, and industry white papers on the subject of AI’s fast paced impact on the banking and finance sectors. The chronological links provided are to the primary sources, and as available, indicate links to alternate free versions. Six highlights from this post: We need bold minds to challenge AI, not lazy prompt writers, bank CIO says; Managing AI in banking: are we ready to cooperate?; The gen AI gender gap; Will User-Contributed AI Training Data Eat Its Own Tail?; Demand for Artificial Intelligence in Settlement Negotiations; and Artificial intelligence – a central bank’s view.

Subjects: AI, AI in Banking and Finance, Big Data, Economy, Financial System, Legal Research

Pete Recommends – Weekly highlights on cyber security issues, July 6, 2024

Privacy and cybersecurity issues impact every aspect of our lives – home, work, travel, education, finance, health and medical records – to name but a few. On a weekly basis Pete Weiss highlights articles and information that focus on the increasingly complex and wide ranging ways technology is used to compromise and diminish our privacy and online security, often without our situational awareness. Eight highlights from this week: US car dealerships are recovering from massive cyberattack: 3 things you should know; Deepfake attacks will cost $40 billion by 2027; FTC – Who’s who in scams: a spring roundup; Cloudflare is taking a stand against AI website scrapers; Microsoft tells more customers their emails have been stolen; Tips to Make Facebook and Instagram Fun Again; and How to Stop ChatGPT Training On Your Data.

Subjects: AI, Communication Skills, Cybersecurity, Economy, Email Security, Financial System, Healthcare, Privacy, Social Media, Travel

Pete Recommends – Weekly highlights on cyber security issues, June 29, 2024

Privacy and cybersecurity issues impact every aspect of our lives – home, work, travel, education, finance, health and medical records – to name but a few. On a weekly basis Pete Weiss highlights articles and information that focus on the increasingly complex and wide ranging ways technology is used to compromise and diminish our privacy and online security, often without our situational awareness. Five highlights from this week: AI Tools Make It Easy to Clone Someone’s Voice Without Consent; Red Tape Is Making Hospital Ransomware Attacks Worse; Interpol Arrests Almost 4,000 People in Crackdown on International Online Scams; Zero-Day Exploits: Definition & How It Works (With Examples); and U.S. Bans Kaspersky – Here Are the Best Antivirus Alternatives.

Subjects: AI, Cybercrime, Cybersecurity, Economy, Financial System, Privacy

Generative AI Resources 2024

Referencing an article in this month’s Georgetown Law Technology Review, “…traditional AI algorithms normally operate by carrying out a specific function or completing a task using a data set that contains information on how that function or task has previously been done In other words, traditional AI is able to follow a set of rules, make predictions, or utilize instructions to complete a task; but it is not creating anything new in doing so. Generative AI (GAI) has the ability to create something new, specifically new content.” Marcus P. Zillman’s new resource guide spans subject matters including law, economics, education, information technology, planning and strategic deployment and use of GAI, as well a best practices and governance.

Subjects: AI, Cybersecurity, Economy, Education, Financial System, Information Management, Internet Trends, KM, Legal Research, Search Engines, Search Strategies, Social Media, Technology Trends

Mortgage Brokers Sent People’s Estimated Credit, Address, and Veteran Status to Facebook

When someone applies for a mortgage, they trust a home loan lender or mortgage broker with some of the most sensitive information they have: information about their credit, their home, and the personal details of their lives. Unbeknownst to those prospective homeowners, they may also be sharing that information with Facebook. The Markup tested more than 700 websites that offer loans for people looking to purchase or refinance a home, from major online brokers to lesser-known regional lenders, and found that more than 200 of them share some amount of user data with Facebook. On their sites, these companies embedded the Meta Pixel, a small piece of tracking software that shares visitors’ information with Facebook. As users filled out mortgage applications or requested quotes for mortgage rates, the pixel tracked information about their credit, veteran status, occupation, the specific homes they wanted, and more. Experts told Colin Lecher and Ross Teixeira of The Markup that it might be against the law for mortgage lenders to feed this kind of information to Facebook.

Subjects: Business Research, Financial System, Legal Research, Privacy, Social Media

Pete Recommends – Weekly highlights on cyber security issues, June 8, 2024

Privacy and cybersecurity issues impact every aspect of our lives – home, work, travel, education, finance, health and medical records – to name but a few. On a weekly basis Pete Weiss highlights articles and information that focus on the increasingly complex and wide ranging ways technology is used to compromise and diminish our privacy and online security, often without our situational awareness. Four highlights from this week: The Ticketmaster Data Breach May Be Just the Beginning; The Snowflake Attack May Be Turning Into One of the Largest Data Breaches Ever; You Should Browse With Incognito More Often: Here’s Why; and How algorithms, influencers, and users work together to spread misinformation.

Subjects: AI, Cybercrime, Cybersecurity, Economy, Financial System, Legal Research, Privacy, Search Engines

Pete Recommends – Weekly highlights on cyber security issues, May 31, 2024

Privacy and cybersecurity issues impact every aspect of our lives – home, work, travel, education, finance, health and medical records – to name but a few. On a weekly basis Pete Weiss highlights articles and information that focus on the increasingly complex and wide ranging ways technology is used to compromise and diminish our privacy and online security, often without our situational awareness. Four highlights from this week: The NSA advises you to turn your phone off and back on once a week – here’s why; HHS targets single points of failure in healthcare cybersecurity; Google Researchers Say AI Now Leading Disinformation Vector; and New Tech Locates Cell Phones of Lost Hikers.

Subjects: Cybercrime, Cybersecurity, Financial System, Healthcare, Privacy, Social Media

AI in Finance and Banking – May 31, 2024

This semi-monthly column by Sabrina I. Pacifici highlights news, government documents, NGO/IGO papers, industry white papers, academic papers and speeches on the subject of AI’s fast paced impact on the banking and finance sectors. The chronological links provided are to the primary sources, and as available, indicate links to alternate free versions. Seven highlights from this post: Banks could lose $40 billion from fraud with the help of AI, Deloitte predicts; Mastercard’s AI system is helping banks keep fraudsters in check — and it could save millions of dollars; Measuring Development 2024: AI, the Next Generation; Gita Gopinath: Crisis Amplifier? How to Prevent AI from Worsening the Next Economic Downturn; JPMorgan is making a big bet on AI. Here’s how its private bankers are using it; Will banking’s increasing turn toward AI level the playing field or widen the gap between big and small banks?; and Artificial intelligence (AI) act: EU Council gives final green light to the first worldwide rules on AI.

Subjects: AI in Banking and Finance, Cybercrime, Cybersecurity, Economy, Financial System, Government Resources, Legal Research

The Federal Reserve Banks’ New Transparency and Accountability Policy

Michael Ravnitzky is an attorney and former journalist who has more than 25 years of experience in using the Freedom of Information Act and state public records laws. On December 21, 2023, the Federal Reserve Banks each announced the adoption of a uniform Transparency and Accountability Policy (TAP). The Banks have begun responding to public records requests under that policy. Following implementation of the new policy, Ravnitzky initiated several records requests directed at individual Fed Banks, utilizing the provisions of the TAP. His extensively documented evaluation of the new process is that TAP is a good start but it has some shortcomings.

Subjects: Congress, Financial System, Freedom of Information, Government Resources, Legal Research, Legislative

Pete Recommends – Weekly highlights on cyber security issues, May 18, 2024

Privacy and cybersecurity issues impact every aspect of our lives – home, work, travel, education, finance, health and medical records – to name but a few. On a weekly basis Pete Weiss highlights articles and information that focus on the increasingly complex and wide ranging ways technology is used to compromise and diminish our privacy and online security, often without our situational awareness. Four highlights from this week: Google Accidentally Deleted $125 Billion Pension Fund’s Account; Generating Harms: Generative AI’s New & Continued Impacts; What I wish I’d known before my smartphone was snatched; and Mortgage Brokers Sent People’s Estimated Credit, Address, and Veteran Status to Facebook.

Subjects: AI, Cybercrime, Cybersecurity, Financial System, Legal Research, Privacy, Social Media