AI Risk & Governance

AI Risk & Governance

US Banks Impose Restrictions on Use of ChatGPT

By Editors | 01/03/2023

JPMorgan, Citigroup, Goldman Sachs, Deutsche Bank, Wells Fargo and Bank of America are among those reported to have imposed restrictions.

KYC & CDD

BNM Issues Draft Rules on Using e-KYC Solutions for Onboarding

By Editors | 24/02/2023

BNM encourages the use of e-KYC solutions that leverage AI, machine learning or other forms of predictive algorithms to ensure accurate identification and verification.

Trading & Investment

Hermès Wins Trademark Infringement Case Involving NFTs

By Mark Johnston | 13/02/2023

A jury ruled that an artist violated Hermès’ copyright and brand image by selling NFTs depicting the company’s Birkin handbags covered in fur.

Anti-Money Laundering

BIS Innovation Hub to Study Use of Data Technologies for AML

By Editors | 12/02/2023

Project Aurora will study privacy-enhancing technologies, machine learning methods, network analysis, the use of additional data sources, and “machine-readable typologies”.

Cloud & Infrastructure

BIS Chief Calls for Regulatory Framework for Big Techs in Finance

By Manesh Samtani | 11/02/2023

Agustín Carstens says big techs involved in financial services are gaining systemic importance and may quickly become “too big to fail”.

Cloud & Infrastructure

As Regulation Evolves, Regtech Will Continue to Boom  

By Leo Labeis | 09/02/2023

The success of the Digital Regulatory Reporting (DRR) programme highlights the opportunity that regtech presents and the increasingly important role technology will play in compliance, says Leo Labeis.

Supervision & Enforcement

ASIC to Restructure to Enable Faster Enforcement Decisions

By Editors | 09/02/2023

ASIC will streamline its business groups and reduce the number of divisions to make its enforcement approach more strategic and free up funding for technology investments.

Cybersecurity

Regulation Increasingly Seen as Effective Way to Boost Cyber Resilience

By Manesh Samtani | 25/01/2023

New report by World Economic Forum and Accenture finds that 73% of business leaders think regulations are effective in reducing cyber risks.

Structural Regulation

India Considers Law to Curb Unfair Practices by Big Tech

By Mark Johnston | 18/01/2023

The proposal would aim to prevent anti-competitive behaviour by dominant online platforms, similar to the EU’s Digital Markets Act.