Artificial Intelligence in the South African financial Sector is a fast-growing use case. The way it will be regulated is noted in our earlier posts on the latest developments in AI regulation. South Africa will adopt a risk-based, technology-neutral and industry-specific [...]
The Joint Standard on Cybersecurity and Cyber Resilience Requirements sets the minimum standards for financial institutions to implement best practices and processes to identify and guard against cybersecurity and cyber resilience risks. The Financial Sector Conduct Authority (FSCA) and the [...]
In a world where financial information is invaluable, understanding and complying with the Gramm–Leach–Bliley Act (GLBA) is crucial for financial institutions. This guide will walk you through the essential aspects of the GLBA, helping you ensure your institution is both [...]
The main legal issue involved the court determining whether the investment company (PSG Wealth Financial Planning) had a contractual obligation to protect their client (Gerber) against financial losses caused by cybercrime, specifically when a fraudster hacked the client's email and [...]
The Cybercrimes Act places strict legal obligations on financial institutions. For example, financial institutions must report cybercrimes to the police, and store evidence about cybercrimes that someone may have committed. The Act imposes steep penalties on financial institutions that do [...]
