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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    Cybersecurity

    APRA Directs Regulated Entities to Address MFA Implementation Gaps

    By Sanday Chongo Kabange | 26/05/2023

    Multi-factor authentication is one of the “most effective controls” an organisation can implement to unauthorised access to a device or network, APRA says.

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    Conduct, Culture & Accountability

    First Citizens Sues HSBC for Hiring Ex-SVB Employees

    By Sanday Chongo Kabange | 25/05/2023

    First Citizens says a former SVB executive moved to HSBC and executed a scheme to “plunder” trade secrets.

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    Cybersecurity

    NYDFS Fines Lender $4.25m for Breaching Cybersecurity Rules

    By Mark Johnston | 25/05/2023

    OneMain Financial Group failed to properly manage access privileges and conduct due diligence on third-party vendors, NYDFS said.

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    Cybersecurity

    Five Eyes Agencies Warn of State Sponsored Cyber Attacks

    By Editors | 25/05/2023

    Chinese foreign ministry spokeswoman Mao Ning said the joint advisory is a “collective disinformation campaign” from the “empire of hacking”.

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    Fraud, Scams & Cybercrime

    SG Police Warns of Scams From Scanning QR Codes

    By Karen Ng | 24/05/2023

    The increasing usage of QR codes for cashless payments have led to a spike in phishing scams in Singapore.

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    Data Privacy

    Meta Fined Record $1.3b for Violating EU GDPR

    By Sanday Chongo Kabange | 24/05/2023

    Meta Ireland has been given six months to ensure its data processing operations for European users comply with GDPR.

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    Payments & Settlements

    RBA Considers Banning ‘Default’ Route on Dual Network Cards

    By Editors | 23/05/2023

    The RBA had set an expectation that merchants would be offered least-cost routing by end-2022, but the industry did not meet this timeline.

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    Fraud, Scams & Cybercrime

    Report Warns of Elevated Digital Attacks Rate Throughout 2023

    By Sanday Chongo Kabange | 21/05/2023

    LexisNexis Risk Solutions published a new report showing a 50 percent year-on-year increase in APAC’s payment attack rate.

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    Market Abuse

    SEBI Proposes New Rules to Tackle Suspicious Trading Activities

    By Mark Johnston | 18/05/2023

    The new framework would address the challenges posed by new-age technologies such as encrypted or vanishing messages.

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    Data Privacy

    Australia, New Zealand to Jointly Investigate Data Breach

    By Editors | 15/05/2023

    The probe into Latitude’s data breach is the first joint privacy investigation by Australia and New Zealand authorities.

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