BaFin sets out supervisory principles for Big Data and AI BIG Data

On 15 June 2021, BaFin published supervisory principles for the use of algorithms in decision-making processes by financial institutions. Those principles are intended to promote the responsible use of big data and artificial intelligence (BDAI) and facilitate control of the associated risks. Financial market institutions […]

Teamsters was hit by ransomware in 2019, but refused to pay up security

When the International Brotherhood of Teamsters, more widely known simply as Teamsters, was targeted by ransomware back in 2019, the US and Candian labor union simply refused to pay, new reports have revealed. Asked for $2.5 million, Teamsters decided to simply rebuild its entire network […]