Cybersecurity

Structural Regulation

Bringing People Back to Hong Kong an ‘Uphill Task’: FSDC Chair

By Sanday Chongo Kabange | 18/07/2022

FSDC chairman Laurence Li said Hong Kong we must not allow any “slippage” in its role as an international financial centre, and as a connector to the mainland.

Supervision & Enforcement

BOJ, FSA Advance Work to Coordinate Supervisory Functions

By Sanday Chongo Kabange | 17/07/2022

The FSA and BOJ have started sharing information reported by FIs using common templates and are establishing a new data platform to collect granular data from the industry.

Fraud, Scams & Cybercrime

Fraudulent Transactions Cost 4x the Loss Amount on Average

By Editors | 14/07/2022

Every $1 lost to fraud costs organisations an average of $3.99 in APAC, and around $6.33 for digital banks and alternative lenders, LexisNexis Risk Solutions finds.

Fraud, Scams & Cybercrime

Australian Banks Introduce Dynamic CVV to Reduce Card Fraud

By Editors | 14/07/2022

Westpac customers who use dynamic CVV have seen an 80 percent reduction in fraud compared to those who don’t.

Anti-Money Laundering

HKMA Advances Work on AML SupTech, Bank-to-Bank Data Sharing

By Darien Choong | 13/07/2022

HKMA executive director Carmen Chu discussed initiatives to enable bank-to-bank information sharing and use granular bank data to detect ML risk.

Cybersecurity

GLEIF Launches vLEI Issuer Qualification Programme

By Manesh Samtani | 07/07/2022

The vLEI is a digital version of the LEI which can be securely verified online against the source information held in GLEIF’s data repository.

Data Privacy

China Issues New Rules on Data Export Security Assessments

By Editors | 07/07/2022

The rules set out the security assessment framework for cross-border data transfers.

Cybersecurity

SEBI Directs Brokers to Report Cyber Threats Within Six Hours

By Editors | 06/07/2022

Quarterly reports must be issued containing information on cyber incidents, risk mitigation measures, bugs and vulnerabilities, and threat details.

Payments & Settlements

Australia Commences Roll-out of New Payments Service PayTo

By Editors | 04/07/2022

PayTo checks upfront for adequate funds in the paying customer’s account at payment initiation, reducing rejected payments and manual exception handling.