GRC Report Staff

The three European Supervisory Authorities (EBA, EIOPA, and ESMA – collectively known as the ESAs) have announced the establishment of the EU Systemic Cyber Incident Coordination Framework (EU-SCICF). This initiative, rooted in the Digital Operational Resilience Act (DORA), aims to bolster the financial sector’s response to cyber incidents that threaten financial stability by enhancing coordination among financial authorities and other relevant entities within the European Union, as well as with key international actors.

The Financial Crimes Enforcement Network (FinCEN) has launched a comprehensive initiative to tackle the twin threats of fentanyl trafficking and money laundering, highlighting the critical role of financial intelligence in combating these interconnected crises. This effort, part of the broader Counter-Fentanyl Strike Force led by the Treasury Department, aims to disrupt the financial networks fueling the devastating opioid epidemic across the United States.

The European Supervisory Authorities (ESAs) have unveiled a comprehensive set of policy products under the Digital Operational Resilience Act (DORA), marking a pivotal moment in the European Union's efforts to bolster the digital resilience of its financial sector. This extensive package, comprising technical standards and guidelines, represents a significant leap forward in harmonizing and strengthening the EU's approach to cybersecurity and operational risk management in finance.

The Wall Street Journal has reported that entertainment giant Disney is facing a significant data breach, with internal communications from its Slack workplace collaboration system leaked online. The breach, claimed by an anonymous hacking group called Nullbulge, reportedly includes discussions about ad campaigns, studio technology, and interview candidates.

As the financial services sector grapples with rapid technological change and emerging risks, New York's top financial regulator is stepping up its efforts to protect consumers and maintain market stability.

The European Commission has recently issued preliminary findings accusing X, formerly known as Twitter, of violating the Digital Services Act (DSA) in three key areas. The allegations, announced on Friday, focus on issues related to user interface design, advertising transparency, and data access for researchers.

A group of OpenAI whistleblowers have filed a complaint with the Securities and Exchange Commission (SEC), requesting an investigation into whether the ChatGPT maker's confidentiality agreements unlawfully prevent employees from speaking out about potential risks associated with its AI technologies.