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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.
Cloud & Infrastructure
RBI Issues Guidelines on Establishing Digital Banking Units
By Ranamita Chakraborty | 11/04/2022
Commercial banks with past digital banking experience can open new digital banking units without having to seek authorisation from the RBI.
Reporting & Disclosures
From Russia in Haste
By ESG Investor | 06/04/2022
The response of corporates and investors to the invasion of Ukraine suggests both need to overhaul their due diligence processes.
Cybersecurity
Singapore Tightens Laws on Technology Risk, Crypto Assets
By Sanday Chongo Kabange | 06/04/2022
FIs would face penalties over SGD 1 million for breaching TRM requirements. VASPs will have to be licensed to offer services in Singapore.
Cybersecurity
Singapore CSA Developing Technical Reference on Cybersecurity
By Editors | 05/04/2022
The Technical Reference will provide guidance on the adoption of tiered cybersecurity measures to address the different risk profiles of enterprises.
Data Privacy
HKMA Issues Guidance on Customer Data Protection
By Editors | 04/04/2022
The guidance highlights the need for banks to put in place effective data governance frameworks and control measures to protect their customer data.
Cybersecurity
Thai SEC Launches New Portal for Cyber Incident Reporting
By Editors | 03/04/2022
The portal will also be used to disseminate information about preventive measures firms can take to reduce the risks and impacts of cyber threats.
Emerging Prudential Risks
FSB Publishes Work Programme for 2022
By Editors | 31/03/2022
Key focus areas include work to address Covid-19 scarring effects, enhance cross-border payments, and address financial risks from climate change.
Fraud, Scams & Cybercrime
BSP Requires Banks to Implement Real Time Fraud Monitoring
By Sanday Chongo Kabange | 31/03/2022
Under new relations, Philippine banks and NBFIs are required to implement automated and real-time fraud monitoring and detection systems by end-December.
Payments & Settlements
HKMA Issues Additional Guidance for SVF Licensees
By Editors | 28/03/2022
New practice note offers guidance on governance, outsourcing, internal controls, technology risk, and business conduct, among other areas.
KYC & CDD
RBI Orders Paytm Payments Bank to Stop Onboarding Clients
By Editors | 19/03/2022
The bank reportedly violated rules by allowing data to flow to servers overseas and did not properly verify thousands of customers.
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