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.

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    Stablecoins

    Myanmar’s Opposition Government Launches Neobank

    By Editors | 23/07/2023

    Users of ‘Spring Development Bank’ will be able to deposit foreign currency and receive USDT, which can also be exchanged for MMK.

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    Cybersecurity

    Chinese Authorities Call to Strengthen Cybersecurity Insurance Regulations

    By Jill Wong | 19/07/2023

    Two Chinese authorities issued an ‘opinion’ on ways to standardise and support the sound development of cybersecurity insurance.

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    Fraud, Scams & Cybercrime

    NAB Blocks Payments to “High-risk” Cryptocurrency Platforms

    By Editors | 18/07/2023

    NAB will initially block “several” cryptocurrency exchanges that it has concerns with, but this could be expanded further in future.

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    AI Risk & Governance

    UNSC Hosts First-Ever Session on Artificial Intelligence

    By Editors | 18/07/2023

    UK Foreign Secretary James Cleverly called for urgent international cooperation in shaping the governance of AI.

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    Operational Risk

    APRA Finalises New Cross-industry Standard on Operational Risk

    By Sanday Chongo Kabange | 17/07/2023

    Boards should pay particular attention to ventures that may give rise to material or novel operational risks, including activities associated with crypto assets.

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    AI Risk & Governance

    UK FCA Outlines Plans for Regulating AI and Big Tech

    By Manesh Samtani | 16/07/2023

    The FCA will address competition issues raised by Big Tech firms and potentially expand the SMCR to apply to “the most senior individuals managing AI systems”.

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    Structural Regulation

    RBA Commences Overhaul Process after Comprehensive Review

    By Sanday Chongo Kabange | 14/07/2023

    Starting 2024, the RBA will introduce new changes to the way the central bank is managed and how its board handles monetary policy.

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    Operational Risk

    BSP Issues Draft Guidelines on Operational Resilience

    By Mark Johnston | 14/07/2023

    Financial institutions should be able to demonstrate that they can continue to render critical operations through significant disruptions.

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    Data Privacy

    HK Privacy Commissioner Issues Guidance on Data Breach Handling

    By Editors | 13/07/2023

    The guidance emphasises the need for organisations to develop comprehensive data breach response and post-incident action plans.

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    Operational Risk

    NZ’s FMA Issues Proposal to Enhance Industry Operational, Cyber Resilience

    By Editors | 12/07/2023

    If a licensee experiences a significant disruption, they must promptly notify the FMA no later than 72 hours after the incident.

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