Latest news with #LexisNexis
Forbes
3 days ago
- Business
- Forbes
How To Balance Privacy And Protection In The Age Of AI
Dan Pinto is CEO and cofounder of Fingerprint. With over a decade in tech, he is an entrepreneur behind many startups. It seems like we see a new headline about data breaches every day, with one revealing that 16 billion credentials have been leaked over the years. In other words, data breaches are now a fact of life. As a result, consumers are increasingly more privacy-aware, and companies are looking for or have already implemented solutions to help mitigate the damage of past breaches and/or prevent future ones to ensure business continuity. However, incidents like the breach reported by LexisNexis Risk Solutions also reveal a troubling irony: The very solutions designed to help prevent fraud and stop data breaches are becoming high-value targets themselves. But when you think about it, it's not that big of a surprise. Many fraud prevention companies require collecting and storing vast amounts of customer and company data to work effectively. The result? A massive treasure trove of valuable information that's highly tempting to bad actors. The impact of this latest trend is profound. When the companies that suffer data breaches are also the ones tasked with safeguarding financial systems, identities and other valuable information, it doesn't just impact customers—it impacts trust across the entire digital ecosystem. The Escalating Cost Of Storing More Data Traditional fraud prevention approaches operate under the assumption that more data equals better protection. Fraud prevention companies are no different, and many also work with multiple third-party vendors (who also collect and store data on their own systems) to strengthen their security. Yet, each third-party relationship introduces new potential points of failure, and too many organizations compound this risk by storing data in test environments or allowing interconnected platforms access without adequate security checks. The Identity Theft Resource Center reported 3,158 publicly disclosed data breaches in 2024. While supply chain attacks targeting third-party vendors accounted for a smaller portion of incidents, they had an outsized impact, affecting hundreds of organizations and millions of individuals. The report also highlighted a rise in phishing and business email compromise schemes, with generative AI contributing to more convincing attack tactics. Because fraudsters are constantly adapting their methods to bypass fraud prevention measures, organizations need to continuously evolve their fraud prevention strategies to effectively safeguard both customer and company data and privacy. The Modern Approach To Fraud Prevention Today, no single approach to fraud prevention is effective. As fraudsters become more sophisticated and leverage AI tools, bots and agents, organizations must prioritize flexible and privacy-conscious approaches to deterring fraud rather than assuming extensive data collection and storage is the only path to effective fraud prevention. Instead, they should create adaptive defenses to suit their specific needs, using a multitude of technologies that aim to detect and mitigate threats while respecting user privacy. These can include implementing solutions that analyze user behaviors and process device and network signals, in addition to continuously training machine learning models on new data to improve risk-scoring methods. Essential Data Security Practices As the internet as a whole evolves toward a more privacy-conscious world, organizations must implement additional comprehensive modern measures to protect their systems. Here are a few non-negotiables: Social engineering attacks continue to be a highly effective fraud tactic, and they're now bolstered by generative AI. It's essential to provide continuous training to staff so they can better spot deepfakes and identify phishing attempts and other manipulation techniques. Access to company systems should require additional verification on top of the username and password, especially where sensitive data is stored. Assume any single security layer can be compromised. Implementing multiple security layers, such as device fingerprinting, multifactor authentication and other methods of verification, can help thwart attacks. Live customer data should never be stored in development environments. Data governance policies should provide clear guidelines on how to handle sensitive data, including the measures that should be taken to protect data from unauthorized access. What's Next: Course-Correcting For Privacy-Conscious Fraud Prevention Today's top leaders are recognizing that privacy-conscious approaches offer advantages beyond fraud reduction. Customers value organizations that demonstrate a commitment to protecting their most valuable and personal information, in line with the industry moving towards stricter data protection regulations. High-profile breaches offer sobering reminders that even the most sophisticated companies are not immune. The recent wave of security incidents across fraud prevention providers should push us to ask tougher questions: • What assumptions are we still making around fraud prevention that no longer apply? • Can we build fraud detection that doesn't depend on personally identifiable information (PII)? • What would a future look like where privacy is the default, not the exception? Companies that are exploring a diverse set of privacy-forward fraud prevention tools and strategies will be better positioned to minimize risk and maintain customer trust. The Bottom Line Fraud prevention is at a turning point. The legacy approach—collecting more data and building more walls—has failed repeatedly in a landscape defined by automated threats, social engineering and AI. The organizations likely to thrive are those willing to challenge legacy assumptions about what is required to prevent fraud, especially as AI continues to evolve and become ever cheaper and easier to use. More companies are investing in behavioral analytics, device intelligence and real-time monitoring systems that can identify bad actors and threats without impacting user experience, compromising user data or exposing themselves to data liabilities. This shift is a strategic one. It requires executive teams and leaders to audit data flows, re-evaluate vendor dependencies and implement frameworks that treat data minimization as a critical piece of business continuity. The question isn't whether this transformation will happen; it's whether your organization will lead it or simply react to it. The companies making this transition can better define the next decade of fraud prevention. Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?
Yahoo
6 days ago
- Business
- Yahoo
LexisNexis Risk Solutions Appoints Noted Workforce Policy Executive Amy Simon as Head of Labor and Workforce Solutions
Workforce Policy Leader to Direct Anti-Fraud Innovation Across State Agencies WASHINGTON, Aug. 5, 2025 /PRNewswire/ -- LexisNexis® Risk Solutions today announced the appointment of Amy Simon as Head of Labor and Workforce Solutions reinforcing its strategic focus on supporting state agencies in delivering critical services, achieving their missions, and protecting public trust. Simon, a nationally recognized leader in workforce innovation and public policy, joins the company after executive roles at the U.S. Department of Labor and Simon Advisory, the firm she founded in 2021. In this newly created role, Simon will lead a cross-functional team to bring cutting-edge data, identity, and fraud prevention solutions to the frontlines of public service and benefit delivery. "With her rare combination of policy depth, executive leadership, and a relentless focus on impact, Amy is exactly the right leader to help state agencies meet the moment," said Haywood Talcove, CEO of LexisNexis Risk Solutions – Government. "Her firsthand experience modernizing national workforce programs and guiding leaders through transformational change makes her an invaluable asset to our customers and our mission." Simon's appointment comes at a pivotal time for state workforce agencies navigating heightened public demand, complex regulatory pressures, and the imperative to modernize aging systems. As founder of Simon Advisory, she counseled state agencies, policy leaders, technology firms, and other workforce ecosystem partners on strategy, operations, and policy. In addition to testifying before the U.S. House Ways and Means Committee on pandemic unemployment fraud, she wrote and spoke extensively on pandemic fraud solutions, unemployment insurance modernization, and workforce policy innovation. She previously served as Acting Assistant Secretary of the U.S. Department of Labor's Employment and Training Administration, where she oversaw policy direction and operations for a $10 billion portfolio of workforce investment, unemployment insurance, and discretionary grant programs. "This work is deeply personal for me as both a policy leader and victim of pandemic fraud," said Simon. I have seen firsthand how service delivery technology can either empower or fail people at their most vulnerable point of need. State agencies are on the front lines, both defending against fraudsters and ensuring seamless experiences for benefit recipients. I look forward to supporting them on both fronts. I am thrilled to join the unmatched team, tools, and vision at LexisNexis Risk Solutions and support these agencies to serve with speed, integrity, and trust." Simon will begin her new role on August 11, 2025, and will be based in Washington, D.C. With this appointment, LexisNexis Risk Solutions continues to strengthen its leadership team and deliver next-generation support to the government agencies shaping the future of work in America. About LexisNexis Risk SolutionsLexisNexis Risk Solutions harnesses the power of data and advanced analytics to provide insights that help businesses and governmental entities reduce risk and improve decisions to benefit people around the globe. We provide data and technology solutions for a wide range of industries including insurance, financial services, healthcare, and government. Headquartered in metro Atlanta, Georgia, we have offices throughout the world and are part of RELX (LSE: REL/NYSE: RELX), a global provider of information and analytics for professional and business customers. For more information, please visit and Media Contact: Paul EckloffLexisNexis Risk SolutionsMobile: + View original content to download multimedia: SOURCE LexisNexis Risk Solutions
Forbes
6 days ago
- Business
- Forbes
Compliance Paradox: Why Risk Management Is A Strong Growth Strategy
Leo Patching is CEO of Kompliant, helping financial firms streamline compliance and fraud detection with AI-powered workflows. In today's financial landscape, compliance is a double-edged sword. On one side, it represents an escalating cost center, an obligation to meet increasingly complex regulations under growing operational pressure. A 2023 study by LexisNexis showed that 98% of financial institutions now report rising financial crime compliance costs, creating economic and operational pressures. On the other hand, compliance holds the untapped potential to become one of the most powerful strategic assets in an organization's tool kit. Yet, despite recognition of its importance, many financial leaders still treat compliance as an afterthought, rather than the performance engine it can be. How Companies Are Approaching Compliance This contradiction came into sharp focus in a recent national survey of 500 senior financial industry executives conducted by Equifax in partnership with my organization, Kompliant. The data revealed a near-universal adoption of compliance software, particularly in areas like data privacy and risk assessment. This aligns with broader industry findings: According to the 2023 Thomson Reuters Risk & Compliance Survey, 70% of corporate risk and compliance professionals said there has been a shift away from check-the-box compliance toward more strategic, integrated approaches over the previous two to three years. But despite this widespread usage, we found organizations typically allocate less than one-third (30%) of their technology budgets to compliance and risk management. It's a classic example of underinvestment in a critical capability. The real issue isn't the lack of technology—it's how organizations think about it. Often compliance systems are bolted on to existing processes, addressed sporadically and evaluated primarily in terms of their ability to prevent penalties. What this misses is the transformative potential of compliance when integrated holistically and leveraged intelligently. Compliance can serve as more than a shield. It's a lens through which companies can build customer trust and streamline operations. In a digital economy where trust is the new currency, companies that demonstrate transparent, secure and continuous risk oversight can differentiate themselves. The Importance Of Continuous Compliance Consider the way many financial institutions still operate: Risk assessments and monitoring are performed periodically, monthly or quarterly at best. Our survey found that only 40% of firms conduct daily compliance checks, and fewer still assess risk on a continuous basis. In a world where threats emerge by the minute and regulations evolve constantly, this cadence is inadequate. Meanwhile, leaders who have embraced continuous compliance are reaping tangible benefits. They reduce fraud, accelerate onboarding, lower operational costs and increase customer satisfaction. They build resilience into the very fabric of their businesses. Other research reinforces this gap, and the upside of addressing it. According to PwC's Global Risk Survey 2023, 40% of business and risk leaders said their organization had improved its approach to risk to achieve more robust compliance with regulatory standards over the past 12 months. Among the top-performing 5% of companies, that number surged to 81%. The takeaway: Leaders aren't just reacting to compliance pressures, they're turning risk management into a source of strategic advantage. Leading From The Top Strategic adoption of compliance technology is increasingly being led from the top. More than half of the surveyed organizations said their CEO is directly involved in compliance tech decisions, signaling a shift in how these investments are viewed. No longer siloed within legal or risk departments, compliance is moving into the boardroom, and with good reason. The business case is compelling. Advanced technologies are transforming what's possible. Tools that offer real-time risk monitoring, dynamic regulatory reporting and automated decisioning allow organizations to scale efficiently without compromising security. In fact, firms that have deployed these technologies often experience gains in underwriting efficiency and customer onboarding speed, key drivers of revenue growth in today's environment. The Challenges However, one of the most significant barriers remains perception. We found 68% of survey respondents expressed concern about the security of emerging compliance technologies. This hesitation, while understandable, highlights a broader risk-averse mindset that can hinder innovation. It's essential for leadership teams to engage in due diligence, but equally important to adopt a long-term vision: Security and innovation are not mutually exclusive. With the right governance, they are mutually reinforcing. For organizations new to compliance platforms, early-stage challenges typically fall into a few categories: integration complexity, unclear ownership and resistance from internal teams. Many firms underestimate the effort required to unify fragmented data sources or legacy systems into a centralized compliance workflow. Others begin implementation without fully defining who owns the process—legal, compliance, IT or operations—leading to unclear accountability and delayed outcomes. Another common misstep is treating compliance as a static IT deployment rather than a dynamic, cross-functional capability. Platforms need to evolve alongside regulatory change, business growth and emerging risks. This requires collaboration across teams, investment in training and a willingness to revisit assumptions regularly. To overcome these challenges, companies should start by creating a clear map of their current-state compliance processes, including any gaps and redundancies. Align stakeholders early, assign executive sponsorship and choose platforms that are configurable—not just customizable—so they can scale with evolving needs. Importantly, prioritize vendors who emphasize transparency, auditability and robust security controls, helping shift the conversation from fear to confidence. A New Approach A new framework for thinking about compliance is needed, one that views it not as an annual box to check but as a continuous, value-generating capability. Financial institutions must shift from a reactive to a proactive approach, from a fragmented to an integrated one, and from compliance as an obligation to compliance as an advantage. The payoff can be significant. Organizations that make this shift could find themselves better prepared for regulatory scrutiny, more agile in adapting to market changes and more competitive in attracting and retaining customers. In this environment, compliance excellence becomes a signal to the market: This is a business you can trust. As technology reshapes finance, the complexity of managing compliance will continue to grow. But so, too, will the opportunity. Risk management doesn't have to be a tax on innovation, it can be the very foundation of it. The key lies in reimagining compliance not as a constraint, but as a tool for growth. Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?
Business Upturn
22-07-2025
- Business
- Business Upturn
LexisNexis Launches Protégé in Canada: A Secure, Personalized AI Assistant That Automates Legal Work and Amplifies Lawyer Productivity
Toronto, ON, July 22, 2025 (GLOBE NEWSWIRE) — LexisNexis® Legal & Professional, a leading global provider of AI-powered legal analytics and decision tools, today announces a range of enhancements to Lexis+ AI™ and the Canadian launch of LexisNexis Protégé™. This follows the successful launches of Protégé in the USA, Australia, and the UK. The personalized AI assistant intelligently supports legal practitioners in drafting, researching and advising their clients faster and more accurately, helping them focus on higher-value work. Built with the highest levels of security, compliance and privacy, Protégé is now available in the Lexis+ AI legal workflow solution and will soon be available in the Microsoft Word drafting solution, Lexis® Create+. Advertisement Developed responsibly with human oversight, the agentic AI capabilities in Protégé allow it to complete multi-step tasks, review its own output and suggest improvements, leaving lawyers free to focus on strategic work. Leveraging proprietary agentic and generative AI technology from LexisNexis, Protégé can: Draft full, tailored transactional documents. It can check its own work before turning to human legal professionals for a final review. Documents can be further edited directly in Lexis+ AI or in Microsoft Word. It can check its own work before turning to human legal professionals for a final review. Documents can be further edited directly in Lexis+ AI or in Microsoft Word. Produce fully drafted litigation materials with precision and consistency. It can create context-aware litigation drafts, such as motions, legal memos, arguments, and client correspondence. It can create context-aware litigation drafts, such as motions, legal memos, arguments, and client correspondence. Suggest legal workflow actions based on the type of documents uploaded (e.g. draft a memo, summarize). based on the type of documents uploaded (e.g. draft a memo, summarize). Provide prompt assistance, proactively suggesting refinements to queries to help the user accomplish their goals efficiently. proactively suggesting refinements to queries to help the user accomplish their goals efficiently. Store tens of thousands of legal documents to secure Vaults. On each Vault, users can perform numerous AI tasks to summarize, draft, research and more. On each Vault, users can perform numerous AI tasks to summarize, draft, research and more. Generate a graphical timeline of events from uploaded documents. 'At LexisNexis, we're committed to helping legal professionals across Canada achieve better outcomes through greater efficiency and smarter tools,' said Sam Puchala, President and General Manager of LexisNexis Canada 'Our goal is to equip every lawyer with a personalized AI assistant that enhances their daily work, and we're proud to bring that vision to life in Canada with our fully integrated, legal-grade AI platform.' Protégé can be tailored to each user by integrating with Document Management Systems (DMS). This allows users to query, extract clauses and draft from their firm or organization's knowledge base, making it easier to access and apply relevant precedents. Supported DMS integrations include iManage, SharePoint and others. Through a customer-driven innovation program, LexisNexis have developed Protégé by working closely with several Canadian customers across the industry. The LexisNexis global technology platform seamlessly integrates each wave of AI innovation, including extractive AI, which finds relevant results within data and provides deep insights; generative AI, which creates new content from data based on user-entered prompts or instruction; To learn more about LexisNexis Protégé capabilities, visit To learn more about Lexis+ AI, visit About LexisNexis Legal & Professional LexisNexis® Legal & Professional provides legal, regulatory, and business information and analytics that help customers increase their productivity, improve decision-making, achieve better outcomes, and advance the rule of law around the world. As a digital pioneer, the company was the first to bring legal and business information online with its Lexis® and Nexis® services. LexisNexis Legal & Professional, which serves customers in more than 150 countries with 11,800 employees worldwide, is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
Toronto Star
22-07-2025
- Business
- Toronto Star
LexisNexis Launches Protégé in Canada: A Secure, Personalized AI Assistant That Automates Legal Work and Amplifies Lawyer Productivity
Toronto, ON, July 22, 2025 (GLOBE NEWSWIRE) — LexisNexis® Legal & Professional, a leading global provider of AI-powered legal analytics and decision tools, today announces a range of enhancements to Lexis+ AI™ and the Canadian launch of LexisNexis Protégé™. This follows the successful launches of Protégé in the USA, Australia, and the UK. The personalized AI assistant intelligently supports legal practitioners in drafting, researching and advising their clients faster and more accurately, helping them focus on higher-value work. Built with the highest levels of security, compliance and privacy, Protégé is now available in the Lexis+ AI legal workflow solution and will soon be available in the Microsoft Word drafting solution, Lexis® Create+.
