Cybersecurity

CBDCs

BIS Innovation Hub Publishes Guidance on Offline CBDC Payments

By Editors | 12/05/2023

The new handbook is intended as a guide for central banks that are considering the potential implementation of CBDCs with offline functionality.

PEPs & Sanctions

IRS, Chainalysis Team Up to Support Ukraine Law Enforcement

By Editors | 11/05/2023

The IRS is sponsoring Ukraine’s access to a Chainalysis blockchain analysis tool and also organising cyber training sessions.

Data Privacy

HKMA Issues Regtech Guide on Protecting Customer Data

By Editors | 10/05/2023

The guide offers implementation advice for using Regtech solutions to enhance customer privacy protection and streamline data processing operations.

Data Privacy

China Tightens Scrutiny of Foreign Consulting and Audit Firms

By Editors | 10/05/2023

Capvision is accused of stealing state secrets, foreign auditors are under increased scrutiny, and Chinese data providers are blocking overseas access to their databases.

Anti-Money Laundering

Australia Budget Offers Funding for AML, Scams, Cyber

By Manesh Samtani | 10/05/2023

Funding is provided to AUSTRAC, the Attorney-General’s Department, ASIC, the ACCC, and the launch of an SMS Sender ID Registry.

Cybersecurity

RBNZ Proposes to Collect More Data on Cyber Incidents

By Editors | 09/05/2023

The RBNZ proposes to introduce mandatory reporting of all material cyber incidents within 72 hours, and periodic reporting of non-material incidents.

Data Privacy

Australia: Medibank Faces Four Class Actions Over October Cyberattack

By Editors | 09/05/2023

The Federal Court is expected to consolidate the class actions. Medibank is also facing an investigation from Australia’s privacy regulator.

Cybersecurity

BIS to Test Quantum Resistant IT Environments for Financial System

By Editors | 09/05/2023

“Project Leap” will test the ability of a quantum-resistant algorithm to maintain the confidentiality of payment messages transmitted between Banque de France and Deutsche Bundesbank.

Cybersecurity

NYDFS Fines BitFlyer for Deficient Cybersecurity Programme

By Editors | 07/05/2023

BitFlyer USA did not perform risk assessments, implement a written cybersecurity policy, or conduct annual reviews. The firm said it has completed over 90% of its planned remediation work.