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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
Japan Cyber Agency Hit by State-Sponsored Hack – Report
By Editors | 29/08/2023
THe breach initially occurred in October last year. NISC did not spot the problem until June this year and then disclosed it on 4 August.
AI Risk & Governance
Digital Technologies, Sustainability Key Areas for Dispute Resolution
By Jill Wong | 29/08/2023
The Singapore Convention Week, jointly organised by Singapore’s Ministry of Law and UNCITRAL, kicks off today (29 August) with discussions around digital technologies and sustainability.
Operational Risk
APRA to Punish Failures to Meet Operational Resilience Expectations
By Mark Johnston | 26/08/2023
APRA’s Therese McCarthy Hockey said additional capital requirements will be imposed on entities found to be “significantly wanting” in compliance.
Tokenisation
HKMA to Explore Regulatory Changes to Promote Bond Tokenisation
By Sanday Chongo Kabange | 26/08/2023
The report suggests new requirements could be introduced for DLT platforms, covering areas from KYC and AML compliance to BCPs and cyber risk assessments.
Clearing & Post-Trade
CPMI-IOSCO Takes Stock of CCP Practices for Addressing Non-default Losses
By Editors | 24/08/2023
CPMI and IOSCO intend to publicly consult on further guidance for CCPs on addressing NDLs arising from scenarios like system outages and cyber attacks.
Fraud, Scams & Cybercrime
How AI Can Combat Financial Crime
By Ranamita Chakraborty | 24/08/2023
Industry experts tell Regulation Asia how the financial sector’s battle against sophisticated financial crimes has led to a greater reliance on artificial intelligence (AI) to detect fraud and maintain customer trust.
Cybersecurity
Bangladesh Defends Against Nationwide Cyber Attacks
By Mark Johnston | 17/08/2023
Several warnings were issued in the lead-up to Tuesday’s attacks. 25 public and private institutions are reported to have been breached.
Data Privacy
Indian Lawmakers Pass New Data Protection Law
By Manesh Samtani | 11/08/2023
The law has raised concerns over the excessive powers granted to the government to access private data without consent.
Data Privacy
China Proposes to Tighten Rules on Use of Facial Recognition Tech
By Editors | 11/08/2023
The draft rules prohibit the misuse of facial recognition technology by entities and in public spaces including banks.
Data Privacy
Global Law Firm Dentons to Split Off China Operations
By Editors | 10/08/2023
The move is a response to “new mandates and requirements relating to data privacy, cybersecurity, capital control and governance”.
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