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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
HKMA Consults on CBDC Policy and Design Choices
By Sanday Chongo Kabange | 28/04/2022
The paper says e-HKD could bring could present challenges to Hong Kong’s currency and financial stability, as well as the city’s role as an international financial centre.
Cybersecurity
HKMA Launches Knowledge Hub to Promote RegTech Adoption
By Editors | 26/04/2022
The Hub’s launch is accompanied by videos featuring regtech solutions from HSBC, Citibank, iFinHealth, Ping An OneConnect Bank and ASTRI.
Fraud, Scams & Cybercrime
BSP Directs FIs to Implement Controls Against Cyber Fraud
By Editors | 26/04/2022
The recommended control measures include the removal of clickable links in emails and SMS and customer notifications for fund transfers and contact information changes.
Emerging Prudential Risks
FSB Warns of Emerging Vulnerabilities, Financial Stability Risks
By Manesh Samtani | 21/04/2022
Global financial stability cannot be taken for granted going forward, FSB Chair Klaas Knot said in a letter to G20 Finance Ministers and Central Bank Governors.
Conduct, Culture & Accountability
HKMA to Develop Additional Safeguards for Bank Customers
By Manesh Samtani | 20/04/2022
A fresh review of the Banking Code of Practice has been launched, covering information disclosure, customers’ finance management, and dispute handling.
Cloud & Infrastructure
FSC Korea to Relax Network Separation, Cloud Computing Rules
By Sanday Chongo Kabange | 19/04/2022
The rule amendments seek to address excessive regulations that have hindered digital transformation efforts in the financial sector.
Fraud, Scams & Cybercrime
Vietnam Rushes to Finalise Regulatory Framework for Fintech Activities
By Mark Johnston | 17/04/2022
The SBV has warned of fraud incidents involving e-wallets and asks banks to monitor the use of data by fintechs until the new regulatory framework is in place.
Data Privacy
FSC Korea Bolsters Consumer Safeguards in MyData Licensing System
By Editors | 14/04/2022
The FSC will prohibit MyData services providers from buying and selling consumer data, and start conducting post-licensing inspections to ensure adequate protections are in place.
Emerging Prudential Risks
ASEAN Ministers, Central Banks Prioritise Financial Stability, Inclusion
By Sanday Chongo Kabange | 14/04/2022
Finance ministers and central bankers have committed to promoting financial stability, financial inclusion and banking integration in the ASEAN region.
Cybersecurity
Singapore Starts Licensing Cybersecurity Service Providers
By Darien Choong | 14/04/2022
Firms that provide penetration testing or managed security operations centre monitoring services have to apply for a licence by 11 October.
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