Newsletters

Newsletter – January 2025

Regulatory Risk Perspectives FinCEN Alert about Deepfake Media Fraud Schemes In November 2024, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an Alert[1] regarding fraud schemes that use deepfake media created with generative artificial intelligence (GenAI) tools. The alert is very useful for Financial...

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October 2024 Newsletter

Regulatory Risk Perspectives Artificial Intelligence and Combating Increasing Cybersecurity Risks Earlier this month, the New York State Department of Financial Services (“NYSDFS”) issued the ‘Cybersecurity Risks arising from Artificial Intelligence (“AI”) and Strategies to Combat Related Risks’ guidance (“Guidance”) to help Financial Institutions (“Fis”) in understanding and assessing...

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Q2’2024 Newsletter

Regulatory Risk Perspectives Semiannual Risk Perspectives In June 2024 the Office of the Comptroller of the Currency (“OCC”) released its semiannual risk perspective on key issues facing the banking system[1]. Areas of greatest concern are as follows: Credit Risk - Commercial Real Estate refinancing at higher rates especially...

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Q1’2024 Newsletter

Key Regulatory Updates Operational Resilience Acting Comptroller of the Currency, Michael J. Hsu, on March 14, 2024, addressed the Institute of International Bankers at their annual conference in Washington, DC on the topic of operational resilience[1]. Operating risks and the ability to recover from unexpected external events or...

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