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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.
Cybersecurity
Japan FSA Commences Annual Cyberattack Drills with FIs
By Editors | 20/10/2022
The participants include banks, credit unions, securities firms, payment providers, money transfer agents and crypto exchanges.
Cybersecurity
Singapore Establishes Inter-agency Taskforce on Ransomware
By Editors | 20/10/2022
The Counter Ransomware Task Force comprises senior government representatives from the technology, cybersecurity, financial regulation and law enforcement domains.
Cloud & Infrastructure
Kakao Under Probe Over Unprecedented Service Disruption
By Editors | 19/10/2022
A fire occurred at a data centre where Kakao operates 32,000 servers that support the vast majority of its mobile services.
Cybersecurity
FSB Proposes to Standardise Global Cyber Incident Reporting
By Editors | 18/10/2022
The FSB also proposes to develop a common format for cyber incident reporting, to promote global convergence and better communication among authorities.
Fraud, Scams & Cybercrime
Singapore: SMS Sender ID Registration to Become Mandatory
By Editors | 15/10/2022
All non-registered SMS sender IDs after 31 Jan 2023 will be channelled to a sender ID with the header “Likely-SCAM”.
Cybersecurity
BSP Directs FIs to Bolster Email Security, Cyber Awareness
By Editors | 15/10/2022
Financial institutions are directed to adopt “robust and layered” security controls and industry best practices to reinforce email security.
PEPs & Sanctions
US Blocks Export of Computing Chips to China
By Editors | 12/10/2022
The export controls are aimed at preventing the transfer of advanced technology to China’s military, intelligence and security services.
Emerging Prudential Risks
FSB Updates G20 on Work to Strengthen Financial System Resilience
By Editors | 12/10/2022
FSB chair Klaas Knot says the outlook for global financial stability remains challenging, citing tighter financial conditions and higher inflation.
Cybersecurity
BNM Calls for Heightened Vigilance Over Payment Card Activity
By Editors | 10/10/2022
Payment gateway service provider iPay88 experienced a breach earlier this year affecting card data from online transactions.
CBDCs
RBI Set to Commence Limited Pilot Launch of CBDC
By Editors | 09/10/2022
To avoid the disintermediation of banks, which would impede credit creation, the RBI suggested the CBDC would likely be non-interest bearing.
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