In what might be the hospitality industry's most expensive case of leaving the digital door unlocked, Marriott International and its subsidiary Starwood Hotels are checking out of their security nightmare with a $52 million bill and an FTC-mandated security makeover. The settlement, announced October 9, 2024, addresses three massive data breaches affecting over 344 million guests worldwide.
The collapse of FTX in November 2022 was not merely the downfall of one of the world’s largest cryptocurrency exchanges but a seismic event that reverberated throughout the entire cryptocurrency industry. Once the third-largest crypto exchange, FTX handled billions of dollars in customer funds, making its rise and fall a significant case study in financial instability and regulatory oversight. The event exposed profound vulnerabilities within the cryptocurrency ecosystem, a sector once viewed as both promising and robust. The fallout from FTX’s demise extended far beyond its balance sheet, devastating other cryptocurrency services, shaking investor confidence, and prompting global regulatory scrutiny.
New York-based facial recognition startup Clearview AI has now accrued fines exceeding $115 million for privacy violations across the European Union and the United Kingdom. The Dutch Data Protection Authority (DPA) has recently imposed a $33.7 million penalty, adding to a series of General Data Protection Regulation (GDPR) compliance issues that date back to 2020.
With the Corporate Sustainability Reporting Directive (CSRD) looming like a back-to-school deadline, KPMG’s latest findings reveal who’s ready for the ESG exam—and who might be cramming at the last minute. The stakes are high, as companies not only face the pressure of ticking all the regulatory boxes but also the challenge of proving to increasingly discerning stakeholders that their sustainability efforts are more than just hot air. Those who are prepared are stepping up to the podium, while the less prepared scramble to catch up, knowing that in this high-stakes game, there’s no room for half-measures or last-minute cramming.
The Massachusetts Institute of Technology (MIT) has introduced a new resource on artificial intelligence. This new AI Risk Repository, which features over 700 meticulously cataloged entries, represents a significant advancement in the consolidation and comprehension of the multifaceted risks associated with AI deployment.
In the grand, unpredictable theater of global commerce, supply chains are the delicate threads that hold the whole show together. But lately, it seems like these threads are fraying, snapping, and occasionally tying themselves into impossibly complicated knots. With shipping routes turning into obstacle courses and third-party services acting like temperamental divas, the need for resilience in supply chains isn’t just a trendy buzzword—it’s a matter of survival.