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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.
Fraud, Scams & Cybercrime
HKMA Asks StanChart to Investigate Unauthorised Card Transactions
By Editors | 18/12/2022
Standard Chartered has said there is no evidence of a data leak, that it would arrange refunds, and that it has strengthened its monitoring systems in response.
Fraud, Scams & Cybercrime
Singapore Releases Blueprint to Combat Ransomware Attacks
By Mark Johnston | 17/12/2022
The blueprint includes recommendations to discourage ransomware payments and make it mandatory for organisations to report such payments.
Payments & Settlements
China, Hong Kong Set to Allow Quarantine Free Travel
By Editors | 14/12/2022
Travellers to Hong Kong will be allowed to visit restaurants and bars on arrival. Travellers to the Mainland will no longer have to quarantine.
Emerging Prudential Risks
Geopolitical Risk Cited as Top Risk to Financial Industry: DTCC
By Editors | 08/12/2022
The top three threats in DTCC’s latest Systemic Risk Barometer survey were geopolitical risks & trade tensions, inflation, and cyber risk.
Cybersecurity
Malaysia Developing New Technology Risk Management Framework
By Editors | 07/12/2022
The new framework will significantly increase the capital market’s ability to detect and mitigate the risks that come with new technologies, SC chairman said.
Cybersecurity
EU’s Digital Operational Resilience Act Wins Final Approval
By Manesh Samtani | 01/12/2022
All financial entities and the third parties that provide them ICT-related services will have to adhere to DORA requirements from around the end of 2024.
Cybersecurity
CPMI, IOSCO Identify Cyber Resilience Weaknesses at Some FMIs
By Editors | 30/11/2022
Some financial market infrastructures have not yet developed their cyber response and recovery plans to meet the two-hour recovery time objective.
Emerging Prudential Risks
BNM Consults on Licensing Framework for Digital Insurers
By Mark Johnston | 30/11/2022
Digital insurers and takaful operators will initially be subject to a lower minimum paid-up capital requirement during a 3-5 year foundational period.
Data Privacy
Australia Passes Bill Raising Penalties for Privacy Violations
By Manesh Samtani | 29/11/2022
The legislation also amends the extraterritorial jurisdiction of the Privacy Act to bring into scope foreign firms conducting business in Australia.
Cybersecurity
APRA to Intensify Industry Scrutiny Following Medibank Hack
By Sanday Chongo Kabange | 29/11/2022
APRA to intensify supervision of all entities not meeting CPS 234. Medibank executive pay could be impacted.
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