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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
Embattled PwC Caught up in Russian Cyberattack
By Editors | 22/06/2023
A Russian hacker group known as CL0P exploited a vulnerability in MOVEit, a third-party software platform used for secure data transfer.
Fraud, Scams & Cybercrime
US DOJ Charges Russian Hacker for LockBit Ransomware Attacks
By Mark Johnston | 22/06/2023
Ruslan Astamirov is the third person to be charged over the LockBit ransomware variant. A global cybersecurity advisory has also been issued.
Cloud & Infrastructure
China Urges Greater Use of Digital Means for Cross-border Business
By Editors | 21/06/2023
PBOC and SAFE issued a draft notice allowing banks to conduct capital account business online for market players by using electronic documents.
Structural Regulation
BOT Publishes New Consultation Paper on Virtual Bank Licensing Framework
By Editors | 19/06/2023
The consultation paper clarifies expectations for virtual banks to stimulate healthy competition and elaborates on the key qualifications of applicants.
Clearing & Post-Trade
Global Consortium Executes First “Quantum-Secure” Trade Transaction
By Sanday Chongo Kabange | 19/06/2023
The trade parties utilised IMDA’s ‘TradeTrust framework’ and placed a quantum-secure ‘seal’ on the electronic trade documents.
Cybersecurity
Regulators Paying More Attention to Banks’ Cyber Resilience: FSI Paper
By Ranamita Chakraborty | 16/06/2023
The paper outlines how escalating cyber threats have resulted in the development of “second-generation” cyber regulations.
Fraud, Scams & Cybercrime
Singapore Minister Calls for Global Cooperation on Scams
By Karen Ng | 15/06/2023
Minister of State Sun Xueling said every country needs to set up the equivalent of an Anti-Scam Command and participate in information sharing
PEPs & Sanctions
China Military Pilot Training Targeted by US Export Controls
By Mark Johnston | 14/06/2023
US Commerce Department’s Bureau of Industry and Security added 43 entities to its Entity List for aiding China’s military modernisation programmes.
Cybersecurity
ASIC Invites Regulated Entities to Assess Cyber Resilience
By Editors | 13/06/2023
ASIC’s cyber pulse survey will measure entities’ current cyber security and controls, governance arrangements, and incident preparedness.
AI Risk & Governance
MAS Launches Annual FinTech Hackcelerator, Focusing on ‘AI in Finance’
By Sanday Chongo Kabange | 13/06/2023
Fintech firms and solution providers are invited to address 16 problem statements related to AI in the financial services industry.
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