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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.
Cybersecurity
WEF Report Calls for Cybersecurity to be Prioritised
By Editors | 30/01/2022
The report highlights prioritisation gaps between business executives and security-focused leaders, saying this can leave firms vulnerable to attacks.
Cryptocurrency
Myanmar to Ban Crypto Under New Cybersecurity Law
By Sanday Chongo Kabange | 28/01/2022
Under the proposed law, using cryptocurrency may lead to imprisonment of 6-12 months in prison or fines up to USD 2800.
Data Privacy
Virtual Banking and Consent-based Data Governance
By Manesh Samtani | 27/01/2022
New BIS paper says consent-based data governance systems with low transaction costs are key to promoting the development of virtual banking worldwide.
Cybersecurity
HKMA Issues Regtech Guide on Managing Cyber Risk
By Manesh Samtani | 26/01/2022
The guide will help banks apply Regtech solutions for cyber risk management, including to address risks from container technology and remote working.
Data Privacy
China Issues Guidelines of Identifying Critical Data
By Darien Choong | 25/01/2022
The guidelines support the protection of critical data, while also serving as a reference for companies and authorities to classify and describe their data.
CBDCs
BIS Innovation Hub to Expand Work Programme in 2022
By Editors | 25/01/2022
The BIS Innovation Hub will launch new projects into CBDCs, payments systems, DeFi, green finance, regtech, suptech and cybersecurity.
KYC & CDD
Taiwan FSC to Explore Digital Identity Via Thematic Sandbox
By Editors | 24/01/2022
‘Digital Identity Authentication and Authorisation’ was selected as the theme for the sandbox, to promote more convenient and secure access to financial services.
Credit Risk
IMF Commends Hong Kong Efforts to Safeguard Stability
By Manesh Samtani | 23/01/2022
Hong Kong banks’ exposures to the mainland property market warrant continued close monitoring and periodic stress testing.
Cybersecurity
FS-ISAC Initiative to Bolster Financial Sector Supply Chain Security
By Editors | 20/01/2022
The initiative fosters continuous collaboration and information sharing between financial institutions and critical network infrastructure and services providers.
AI Risk & Governance
BSP to Enhance Policy Formulation Through Big Data
By Editors | 19/01/2022
The BSP has partnered with the University of the Philippines to develop a News Sentiment Index, which will lead to more targeted policy formulation.
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