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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.
AI Risk & Governance
BCBS Assesses Bank Use of AI & Machine Learning
By Editors | 18/03/2022
The BCBS is exploring banks’ use of AI/ML, specifically in the areas of explainability, governance, and resilience and financial stability.
Cloud & Infrastructure
RBI Lifts Restrictions on Digital Product Launches at HDFC
By Editors | 16/03/2022
The restrictions were imposed in 2020 in response to multiple digital outages that impacted customers. HDFC is India’s largest private bank.
Cybersecurity
FS-ISAC Warns of Cyber Risk ‘Trifecta’ in 2022 and Beyond
By Editors | 15/03/2022
Boards, auditors, and regulators will demand that firms level up their incident response playbooks, tools, and platforms.
Cryptocurrency
Australia: Senator Calls on Govt to Accelerate Work on Crypto Regulation
By Darien Choong | 15/03/2022
Senator Andrew Bragg said the government should hire experts to permanently work on crypto regulation within a dedicated unit of Treasury.
Structural Regulation
ASIC Updates Market Integrity Rules and 10 Rule Books
By Ranamita Chakraborty | 11/03/2022
From 10 March 2023, financial markets and participants will have to comply with new technological and operational resilience rules.
Cybersecurity
CSA Singapore to Update Cybersecurity Act, Code of Practice
By Sanday Chongo Kabange | 09/03/2022
The updates will seek to address ransomware, cloud and 5G technology risks faced by critical information infrastructure sectors including banking & finance.
Fraud, Scams & Cybercrime
IMDA Starts Onboarding Banks to New SMS SenderID Registry
By Editors | 08/03/2022
IMDA has begun onboarding banks and other organisations on the new system, which will prevent spoofed SMS text messages from being sent upfront.
Anti-Money Laundering
FATF Concerned About Impact of Ukraine Invasion on Risk Environment
By Editors | 06/03/2022
Russia’s actions run counter to the FATF core principles. The FATF is reviewing Russia’s role at the FATF and will consider steps to uphold its core values.
Custody & Infrastructure
Thailand SEC Tightens Custody Rules for Digital Assets
By Mark Johnston | 05/03/2022
The SEC is also proposing requirements for digital asset businesses to disclose service quality information on their websites.
Fraud, Scams & Cybercrime
Thai Police, Banks Launch New Centre for Reporting Cybercrime
By Editors | 03/03/2022
The new platform is expected to reduce waiting times at police stations and help banks to cancel fraudulent financial transactions more quickly.
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