The Office of the Comptroller of the Currency highlighted artificial intelligence as both a risk and an opportunity for innovation in its spring 2026 Semiannual Risk Perspective. AI is one of several key issues facing banks surveyed in the report released Thursday (May 7). “Artificial...
At a time of rapidly accelerating cyber risk driven by artificial intelligence, cybersecurity is a core financial stability issue and should be treated as such by policymakers, the International Monetary Fund (IMF) said in a Thursday (May 7) blog post. Because attacks are becoming faster,...
The Federal Trade Commission (FTC) is warning consumers to beware of text messages that demand money for unpaid tolls as well as new online friends or love interests who suddenly ask for money. These are two common imposter scams, a type of scam that has been the subject of...
The public narrative around third-party cyber risk has traditionally focused on downstream fallout. When a software provider or financial services vendor suffered a breach, attention typically shifted to the large enterprises exposed through the compromise. Those narratives assumed cyberattacks were episodic. Companies largely delegated responses...
Federal Reserve Vice Chair for Supervision Michelle W. Bowman said Tuesday (May 5) that she is raising consumer fraud as a priority issue for the Fed. In a speech delivered at the annual Women in Housing and Finance Symposium in Washington, D.C., Bowman said that...
Hackers linked to Iran are likely to target World Cup fans and the event’s infrastructure, according to a report by ynet Global. BDO Head of Cybersecurity for EMEA Ophir Zilbiger said the conflict between Iran and the United States is likely to increase the already...
Fraud and financial crime are persistent pressures for businesses and financial institutions, forcing organizations to reconsider how they move money and how they defend funds that are in motion. The spread of sophisticated fraud schemes, including those supported by artificial intelligence, has sharpened awareness of...
Treasury Secretary Scott Bessent says American banks are working to safeguard against AI-related cyberthreats. Bessent addressed the issue Sunday (May 3) in an interview with Fox News, coming in the wake of a meeting he and Federal Reserve Chair Jerome Powell held with Wall Street...
Watch more: What’s Next in Payments With Trulioo’s Hal Lonas Data has become so widespread across commerce and financial services that its presence alone no longer confers any distinction. What matters now is whether companies can convert that information into decisions that shape outcomes in...