AI and ML for Finance Practitioners

1. Is the following statement about ‘building awareness regarding employees’ roles in protecting data ‘ generally correct?

Statement:
“It is critical that organizations have in place a strategy for providing transparency regarding their processes and procedures. It is also crucial that all employees are aware of what their role might be in protecting and maintaining the privacy of personal data. To this end, companies should consider early planning for all parts of business activity that holds personal data, together with ongoing reviews.”

Not correct

Correct

Question 1 of 2

Question 2 of 2

2. A third party must have a formal process to inform the data controller about the breach: which details of the breach they must disclose, and when they must provide such information (72 hours).
What happens if the 72-hour deadline is not met?

After the 72-hour deadline the third party is liable

After the 72-hour deadline the data controller is liable

After the 72-hour deadline the data controller and the third party are liable.

Question 2 of 2