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Fraud & Cybersecurity
CBA supports strong national data protection and consumer notification standards with effective enforcement provisions that are applicable to any party with access to important consumer financial information. CBA members are already subject to robust data protection and notification standards and these requirements must be recognized. Inconsistent state laws and regulations should be preempted in favor of strong Federal data protection and notification standards. CBA firmly holds that all parties must share in protecting consumers and, as such, the costs of a data breach should ultimately be borne by the entity that incurs the breach. Protecting consumer data is a shared responsibility, and merchants must have the same tough data security standards as financial institutions to thwart hackers as well as the ability to accept chip-based cards.
- January 21, 2021 - 2:00PMUpcomingNovember 10, 2020 - 2:00PMPastOctober 28, 2020 - 2:00PMPastMay 28, 2020 - 2:00PMPastMay 13, 2020 - 2:00PMPastMay 7, 2020 - 2:00PMPastMay 7, 2020COVID-19 has disrupted banking for good. The depth of change, and the speed at which it has occurred, has ratcheted up risk levels. The result? An environment ripe for financial crime – especially fraud, cybercrime, and money laundering. Banks can combat financial crime by using advanced digital technologies, revisiting their business continuity planning, adjusting their risk models, and...