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Cybersecurity
Reporting on regulatory requirements, enforcement actions, and best practices to safeguard financial institutions and markets against cyber threats, data breaches, and vulnerabilities through proactive measures.
Cybersecurity
Europol Explores How Quantum Computing Will Impact Law Enforcement
By Mark Johnston | 24/10/2023
Europol report says law enforcement agencies need to build up their knowledge and transition to post-quantum cryptography.
Cybersecurity
Lloyd’s Simulates $3.5tr Cyber Attack on Financial System
By Mark Johnston | 19/10/2023
Lloyd’s published a scenario that simulates a cyber attack that would cause $3.5tr in global economic losses over five years.
Fraud, Scams & Cybercrime
Singapore Prosecutors Establish Technology and Crypto Crime Task Forces
By Editors | 19/10/2023
Singapore’s Attorney General’s Chambers has established a Technology Crime Task Force and Virtual Currency Task Force.
Cybersecurity
ASIC Warns Firms of Third-Party Cyber Risk
By Mark Johnston | 19/10/2023
44 percent of respondents to an ASIC survey indicated that they did not manage third-party or supply chain risk.
AI Risk & Governance
Taiwan FSC Issues Core Principles and Policies on the Use of AI
By Manesh Samtani | 18/10/2023
The FSC has also started developing regulatory guidelines on the use of AI in the financial industry, which will be completed by year-end.
Data Privacy
LEI Now Being Used in Digital Email Certificates
By Editors | 17/10/2023
GLEIF and Shanghai-based TrustAsia collaborated to issue the first S/MIME Certificate with an embedded LEI.
AI Risk & Governance
US, Singapore to Deepen Collaboration on Responsible AI Innovation
By Editors | 17/10/2023
The US and Singapore completed a joint mapping exercise to make their AI governance frameworks interoperable.
Cybersecurity
UK FCA Fines Equifax £11m Over 2017 Cybersecurity Breach
By Editors | 16/10/2023
The FCA said the 2017 cyber breach against Equifax’s US parent allowed hackers to access the personal data of 13.8 million UK consumers.
Cybersecurity
FSC Korea Forms New “Financial Safety Department”
By Sanday Chongo Kabange | 16/10/2023
The new department will be dedicated to enhancing financial security and information protection in digital finance.
Operational Risk
Banks Must Invest and Adapt to Changing Risks: Report
By Nithya Subramanian | 11/10/2023
As new technologies, players and risks emerge, global governments are broadening and deepening regulatory oversight, says a McKinsey report.
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