Risk & Compliance Roundup: AI Washing, Costs of Non-Compliance
- December 6, 2024
- Quantivate
Welcome to your weekly roundup of risk and compliance management resources, brought to you by Ncontracts.
This edition covers topics including:
- Understanding the risks of implementing AI technology
- Learning from bank compliance failures
- Navigating mortgage compliance challenges
New from the Nsight Blog
What Is AI Washing, and What Are the Risks?
Discover how regulators are cracking down on misleading AI claims and learn the critical risks and controls you need to implement. This comprehensive guide will walk you through everything from understanding AI washing to protecting your institution’s reputation and data security, helping you navigate the complex landscape of artificial intelligence with confidence.
Related Reading | How Is Your Financial Institution Managing AI Cybersecurity Risks? →
What TD Bank’s Money Laundering Debacle Teaches Us About Underfunding Compliance
Discover how TD Bank’s $3 billion settlement exposes the catastrophic costs of underfunding compliance and prioritizing profits over risk management. This eye-opening “case study of what not to do” reveals the critical lessons for financial institutions about building a strong compliance culture, monitoring risks, and the true price of cutting corners. Learn why investing in compliance isn’t just a regulatory requirement—it’s essential for your institution’s survival.
Bonus Resource
Free Guide: Compliance for Mortgage Companies
Navigate the complex world of mortgage compliance with confidence using this practical guide. Discover the most common regulatory pitfalls, learn from real-world violations, and uncover strategies to streamline your risk management practices. Download your copy to gain actionable insights to protect your business and avoid costly penalties while keeping your compliance efforts efficient and effective.