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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.
CBDCs
Opposition to CBDC Based on Misconceptions, RBNZ Says
By Manesh Samtani | 11/05/2022
Respondents to the RBNZ’s consultation have expressed concerns that cash and privacy would be at risk of disappearing if a CBDC is issued.
Cybersecurity
China to Phase Out Foreign PCs, Software from SOEs
By Editors | 09/05/2022
Government agencies and state-backed corporations will have two years to replace foreign-branded personal computers with domestic alternatives.
Cybersecurity
Australian Court Penalises RI Advice Over Cybersecurity Failures
By Editors | 06/05/2022
The ruling is the first of its kind in Australia, and follows cyber incidents that occurred at authorised representatives of RI Advice between 2014 and 2020.
Cryptocurrency
US SEC Expands Enforcement Unit Dedicated to Crypto, Cyber
By Editors | 05/05/2022
The additional resources will be used to prioritise investigations related to crypto asset offerings, exchanges, lending and staking products, as well as DeFi platforms, NFTs and stablecoins.
Payments & Settlements
RBA Calls on Major Banks to Enhance NPP Services
By Editors | 05/05/2022
The RBA is seeking assurances on the timely implementation of new NPP services, and asking banks to improve the reliability of the NPP services they already provide.
Fraud, Scams & Cybercrime
BSP Sanctions BDO, UBP Over Unauthorised Bank Transfers
By Editors | 04/05/2022
The BSP said it has completed its investigation into the incident and sanctioned both BDO Unibank and UBP, but it did not specify the penalties.
Data Privacy
Taiwan FSC Allows Cross-institutional Data Sharing
By Editors | 03/05/2022
Information sharing will be allowed between FIs that do not have group relations, provided that the data sharing model is first reviewed and approved by the FSC.
Trading & Investment
CSRC Launches Campaign to Expand Public Funds Market
By Manesh Samtani | 03/05/2022
Banks, insurers, brokers and foreign FIs are urged to establish licensed fund management companies. Fund investment channels will be expanded and operational rules relaxed.
Cybersecurity
India: CERT-In Includes Crypto Firms in New Directions
By Manesh Samtani | 03/05/2022
The directions require crypto exchanges, custodians and wallet providers in India to retain KYC information for five years and report cyber incidents to CERT-In.
Cybersecurity
CSRC Proposes to Tighten Rules on Cybersecurity Management
By Editors | 30/04/2022
Securities and futures firms will have to establish risk monitoring and early warning systems, and strengthen daily vulnerability scanning and security assessments.
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