Category «Financial System»

Pete Recommends – Weekly highlights on cyber security issues, April 25, 2026

Via LLRX – Pete Recommends – Weekly highlights on cyber security issues, April 25, 2026 – Privacy and cybersecurity issues impact every aspect of our lives – home, work, travel, education, finance, health and medical records – to name but a few. On a weekly basis Pete Weiss highlights articles and information that focus on the increasingly …

Subjects: AI, Cybercrime, Cybersecurity, E-Records, Economy, Financial System, Privacy, Social Media

Judge Warns Trump Could Fleece Public With $10B IRS Lawsuit

Daily Beast – no paywall: “A federal judge is holding up Donald Trump’s $10 billion lawsuit against the IRS and the Treasury Department until his lawyers can convince her it’s legal for a president to take his own federal agencies to court for money. Trump is the ultimate boss of the agencies he’s suing, so …

Subjects: Courts, Financial System, Government Documents, Legal Research

5 Reasons to Think Twice Before Using ChatGPT—or Any Chatbot—for Financial Advice

Wired – no paywall: “As people increasingly rely on AI chatbots for guidance, even on financial matters, a healthy dose of skepticism is critical. I’ve used ChatGPT to help me build a budget before, and it was genuinely helpful. After I input my monthly salary as well as my standard utilities and recurring expenses, the …

Subjects: AI, Economy, Financial System, Search Engines

Anthropic’s Mythos Model Is Being Accessed by Unauthorized Users

Bloomberg (Gift Article): “A small group of unauthorized users have accessed Anthropic PBC’s new Mythos AI model, a technology that the company says is so powerful it can enable dangerous cyberattacks, according to a person familiar with the matter and documentation viewed by Bloomberg News. A handful of users in a private online forum gained …

Subjects: AI, Cybercrime, Cybersecurity, Defense, E-Records, Economy, Financial System, Internet, Legal Research

Treasury Secretary Scott Bessent is preparing banks to collect citizenship data

CNBC:” Banks in the U.S. may not like the idea of being forced to collect citizenship data on customers, but Treasury Secretary Scott Bessent says they better be prepared for the task. “If Treasury and the banking regulators say it’s their job, it’s their job,” Bessent told CNBC’s Sara Eisen at the Invest in America …

Subjects: Censorship, Congress, Economy, Financial System, Government Documents, Legal Research, Privacy

Trump Administration Takes Steps to Refund $166 Billion in Tariffs

The New York Times, Gift Article: Trump Administration Takes Steps to Refund $166 Billion in Tariffs. “…When President Trump unveiled his sprawling global tariffs last spring, he boasted that they would generate windfall profits and “make America wealthy again.” But after suffering a significant Supreme Court defeat, Mr. Trump is about to pay the money …

Subjects: Courts, Economy, Financial System, Government Documents, Legal Research

Prediction markets are breaking the news and becoming their own beat

NeimanLab: “Depending on whom you ask, prediction markets are either: A dangerous, unregulated form of gambling that allows for degenerate betting on real events, unfettered by the economic and legal rules that keep stock markets and sports betting in check, creating an opportunity for corruption and insider trading on a scale we have never seen …

Subjects: Economy, Financial System, Internet, Knowledge Management, Legal Research, Social Media

Trump’s federal workforce changes cost the economy more than $165.6B, analysis finds

Government Executive: “The Trump administration’s reforms to the federal government cost the U.S. economy more than $165.6 billion, according to a new estimate from the Partnership for Public Service. “This is an administration that has claimed that it is trying to reduce waste, and yet the choices that it has made have created phenomenally larger …

Subjects: Economy, Financial System, Government Documents, Knowledge Management, Legal Research

Artificial Intelligence Acquisitions

Artificial Intelligence Acquisitions: Agencies Should Collect and Apply Lessons Learned to Improve Future Procurements. GAO-26-107859. Federal agencies use AI for facial recognition at airports, analyzing veterans’ benefit claims, and more. They often work with private sector companies to acquire and support AI. We talked with many agency officials about challenges acquiring AI. For example, some …

Subjects: AI, E-Government, Economy, Financial System, Government Documents, Knowledge Management

Insurance carriers quietly back away from covering AI outputs

CSO: “Several major insurance carriers have begun to back away from providing cybersecurity and other insurance to companies using AI to run internal processes, insiders say. While there’s no standard response to customer use of AI in the insurance market, many carriers are now quietly declining to write policies for claims related to AI-generated outputs …

Subjects: AI, Cybercrime, Cybersecurity, Economy, Financial System, Legal Research