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The rise of generative AI in payment security: A double-edged sword for data privacy

The Payments Association

Another risk lies in the use of AI to generate synthetic data for training security systems. While this synthetic data reduces the need for using real consumer data, which is a win for privacy, it also opens up a new avenue for unintentional privacy breaches. billion euros in fines.

Privacy 88
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Artem Lyashanov: a close look on DORA provisions, EU and Ukrainian experience

Fintech Review

According to DORA, market participants must conduct systematic stress tests with the various breach scenarios; Third-party risk management. trillion, and the annual IBM Cost of Data Breach Report claims that one such penetration “costs” the affected business around $4.45 Theres no clear requirement on this point.

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Cybertech: Securing the Foundations of Finance

Fintech Review

It covers the tools, platforms, and strategies that defend against data breaches, fraud, identity theft, and financial disruption. This includes data protection laws such as GDPR, operational resilience frameworks, and specific financial sector regulations. Cybertech sits at the intersection of cybersecurity and fintech.

Finance 59
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Understanding PCI DSS, PSD2, and AML in Payment Processing: A Practical Guide

Finextra

Non-compliance, on the other hand, can lead to data breaches and legal troubles. PCI DSS: Safeguarding cardholder data If you handle card payments, PCI DSS compliance is non-negotiable. How PCI DSS affects your digital payment operations When you’re PCI DSS compliant, you reduce the risk of costly breaches.

PCI DSS 52
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Tokenisation 2.0: Are we ready for the next generation of payment security?

The Payments Association

Moreover, network tokenisation reduces the regulatory burden by eliminating the need to store sensitive card data, supporting the Payment Card Industry Data Security Standard (PCI DSS) compliance and lowering the risk of data breaches.

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Fintech Review: A Guide

Fintech Review

But for now, navigating this patchwork of laws remains a core challenge for scaling fintech firms. As financial services shift online, platforms become targets for hackers, phishing attacks, and data breaches. The consequences of a breach go beyond financial loss they can erode trust and invite regulatory action.

FinTech 52
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The Price of Convenience: Is There Such a Thing as Free Credit Card Processing?

Stax

Ensure legal compliance: Adhere to the laws and regulations of the region, and if in doubt, consult with legal experts or industry associations to verify compliance and understand any reporting or disclosure obligations. Local laws and regulations govern surcharging in each jurisdiction.