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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.
Data Privacy
China Proposes New Cross-Border Data Transfer Mechanism
By Editors | 01/07/2022
Eligible companies can transfer data across borders by signing standard contracts with overseas recipients that align with China’s data protection law.
DeFi & Web3
WEF Offers Guidance to Policymakers on DAO Structures, Risks
By Editors | 28/06/2022
DAOs may disrupt whole sectors but they also confront challenges of cybersecurity, governance, and regulatory uncertainty, says a new WEF report.
Cloud & Infrastructure
RBI Issues Draft Rules on Managing IT Outsourcing Risks
By Sanday Chongo Kabange | 28/06/2022
Regulated entities don’t require specific approvals to outsource IT services, but appropriate policies and a risk management framework must be in place.
Cybersecurity
NZ FMA Issues Guidance on Financial Sector Cyber Resilience
By Editors | 24/06/2022
The financial services sector recorded more cyber incidents than all other industries in New Zealand in the quarter ending March.
AI Risk & Governance
HKMA to Prepare Roadmap for Promoting Key Fintech Areas
By Manesh Samtani | 23/06/2022
HKMA will formulate a detailed roadmap of initiatives to further promote Investech, Wealthtech, Insurtech and Greentech, as well as artificial intelligence and DLT.
Data Privacy
China Tightens Rules on Mobile App Development
By Darien Choong | 21/06/2022
The new rules, which takes effect on 1 August, require mobile apps to force users to authenticate their identities.
Cybersecurity
India Designates IT Resources of ICICI, HDFC, NPCI “Protected Systems”
By Editors | 21/06/2022
Unauthorised persons securing or attempting to secure access to protected systems can be jailed for up to ten years and liable for a fine.
Cryptocurrency
Thai SEC Directs Listcos to Exercise Prudence in Crypto Business
By Editors | 20/06/2022
Circulars were sent to listed companies regarding digital assets. The SEC’s final advertising rules will take effect on 16 July. Huobi has exited the Thai market.
Cryptocurrency
BIS Innovation Hub Announces New Set of Projects
By Editors | 20/06/2022
The first three Eurosystem Centre projects will focus on crypto markets, quantum-resistant cryptography for payments, and climate-related disclosures.
Fraud, Scams & Cybercrime
CBIRC Warns of Online Fraudsters Impersonating Regulators
By Editors | 19/06/2022
This is the fourth fraud risk warning issued by the CBIRC this year. Consumers are asked to remain vigilant and report fraud attempts.
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