International Business Travel Comes with Potential Data Risks
The economic rebound seen in the last decade has resulted in a substantial increase in business travel, both foreign and domestic. Increasingly complex global supply chains are necessitating that business leaders travel the world in order to expand their businesses and forge valuable new partnerships. Unfortunately, this increase in travel also presents an increased risk for the theft of proprietary or confidential information.
Nearly Half of All Businesses Out of Compliance With Payment Card Security Standards
While the legal community has spent much of the last year exhaustively dissecting the European Union’s new General Data Protection Regulation (GDPR), nearly half of businesses in the United States are still not compliant with standards governing the collection, storage, and disposal of payment (credit/debit) card data. Businesses of all sizes should work to ensure that they understand and are in compliance with these standards, or risk significant exposure in the event of a payment card data breach traced back to their organization.
Challenges and Opportunities in Regulating Cryptocurrency
Many nations are increasingly attempting to regulate Bitcoin and other forms of cryptocurrency. Increased regulation could help legitimize the currency, but uncertainties about what regulation lies ahead threatens the value of the currencies. A main driver of the increased value of cryptocurrencies is the potential for increased usage in markets globally and greater integration of them into our economy. Regulation may be essential to successfully enabling such integration, because with instability in trade and valuation of the currency it is hard for consumers to know whether they should be spending the currency, or if it will dramatically change in value over the course of a short time period.
Cybersecurity Biggest Risk to Financial System, Regulators Plan to Provide More Oversight
Kaitlin Lavin Executive Editor Loyola University Chicago School of Law, JD 2017 Financial institutions can expect increased oversight and new regulations due to recent cyberattacks and data breaches in banks. Several banks have already reported data breaches this year, and many banks have been rattled by the cyberattacks on SWIFT—the messaging network connecting the …