In 2024, financial sector regulators prioritized cybersecurity issues impacting financial institutions and the public. Key U.S. federal agencies—including the Securities and Exchange Commission, Federal Trade Commission, and the Consumer Financial Protection Bureau—have been joined by state regulators such as the New York Department of Financial Services in significant new federal and state regulations and more robust and novel enforcement actions. This trend is expected to continue in 2025 as the rise of digital transactions and advent of AI introduce additional risks and cyberattacks become increasingly complex and prevalent.
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