GDPR: EU's Effective Data Protection
Have you ever been bugged by various calls from unknown numbers asking if you wanted to make a loan, apply for a credit card, or just avail of a random promo? How about unauthorized bank transactions or purchases made under your name, which you are unaware of? In this age of digitalization, these personal data are made available in various digital platforms thus, prone to digital theft. In the early 2000s, digital attacks were already happening around the world. “I Love You”
Safeguarding Data with the Help of Regulators
The 2020 World Economic Forum reported that cyberattack is still one of the most pressing risks that industries face, especially going through the pandemic and digital migration of individuals and businesses. JPMorgan chase—one of the banking supergiants — alone spends 600 million dollars each year for cybersecurity. There are other crimes that result in a data privacy breach. Now, industries make an effort to improve their own regulatory systems to prevent or at least dimini
Cryptocurrency and its Myths
“Nothing is perfect in this world; everything has its pros and cons…” -Nivendita Sharma This generation, where anything digital and automated is smart, leaves behind loopholes often neglected and forgotten. As we move forward in using different kinds of technology, we tend to visualize the end of the tunnel and lose sight of why we are doing it, considering the present situation. This goes with the digitized version of gold bars, a non-physical asset we now call cryptocurrenc
EU watchdog takes deep dive into banks' use of tech
The European Union's banking watchdog warned on Tuesday that banks' increasing reliance on 'RegTech' technology to automate fraud checks and submit data to regulators might need uniform regulations to promote wider adoption. However, according to the EBA, the lack of consistent regulatory standards across EU states for a growing subsector might hinder further market adoption of RegTech. - Read the full article here.
