Cybersecurity

Anti-Money Laundering

Singapore to Monitor Money Laundering Risks from Crypto Exchange Applicants

By Nithya Subramanian | 06/11/2023

The regulator will reject applicants who fail to meet the required standards for ML/TF and technology risks.

Data Privacy

HKMA to Launch Bank Account Data Sharing Pilot by Year-End

By Editors | 01/11/2023

The first phase of the IADS initiative will be for corporate customers. The HKMA hopes to progressively extend it to retail bank accounts from June 2024 onwards.

AI Risk & Governance

G7 Nations Agree on Code of Conduct for AI Systems

By Editors | 31/10/2023

The code of conduct for AI developers seeks to promote the development of “secure and trustworthy” AI systems internationally.

Cybersecurity

MAS Unveils Proposals to Tackle Mobile Malware and AI Threats

By Editors | 31/10/2023

As financial institutions increasingly turn to GenAI to refine their operations, the  CSAP underscored the urgency of strengthening cyber defences.

Fraud, Scams & Cybercrime

OCBC Stops Using SMS as Default Notification Method

By Editors | 30/10/2023

Customers will receive alerts about payments and fund transfers through push notifications and e-mails, unless they specifically opt for SMS.

CBDCs

BIS Publishes Design Guide for Offline CBDC Payments

By Editors | 30/10/2023

The report says the complexity of developing offline payment capabilities for CBDC systems means some challenges and trade-offs cannot be solved easily.

Supervision & Enforcement

SEBI Enlists 12 Entities to Provide Digital Forensic Services

By Ajoy K Das | 25/10/2023

The enlisted entities would be expected to extract and analyse digital evidence from devices during onsite search and seizure operations.

Fraud, Scams & Cybercrime

Authorities Take Down Ragnar Locker Ransomware Gang

By Mark Johnston | 25/10/2023

Europol said a joint operation resulted in the arrest of the main perpetrator behind the ransomware group and the takedown of its infrastructure.

Fraud, Scams & Cybercrime

ABS Says Anti-Scam Measures Have Been Effective

By Editors | 25/10/2023

Banks prevented more than S$57mn in scams in the first nine months of 2023, and are applying discretionary goodwill frameworks to cushion victims.