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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
FS-ISAC Offers Recommendations for Cyber Defence in 2022
By Mark Johnston | 21/11/2021
APAC financial institutions face threats from ransomware attacks, supply chain risks, and the resurgence of trojans and DDOS attacks.
Cybersecurity
Japan FSA to Issue New Orders to Mizuho Over System Glitches
By Editors | 21/11/2021
The FSA will issue a new business improvement order this month over Mizuho’s system glitches, one of which resulted in possible breaches of AML rules.
Cybersecurity
FSS Korea Fines Naver Financial for Data Security Failures
By Editors | 16/11/2021
The FSS fined Naver Financial and issued warnings against three executives for exposing its office intranet to external risks.
Data Privacy
China Issues New Draft Regulations on Online Data Security
By Manesh Samtani | 15/11/2021
Companies looking to IPO in Hong Kong would have to undergo a cybersecurity assessment if their data-processing activities may have an impact on national security.
Cybersecurity
India’s CDSL Exposes Data from 44 Million Investors – Reports
By Ranamita Chakraborty | 13/11/2021
Information security consultant CyberX9 said CDSL took seven days to fix the initial vulnerability when it could have been fixed within two hours.
Data Privacy
Australia to Strengthen Privacy Regime Through New Legislation
By Sanday Chongo Kabange | 11/11/2021
The draft bill will introduce tougher penalties and enforcement powers to enable the OAIC to resolve matters more effectively and efficiently.
Anti-Money Laundering
Indonesia, UAE to Cooperate on Payments, Fintech, AML
By Editors | 11/11/2021
Central banks will cooperate on cross-border payments, fintech, and AML. Financial services regulators will cooperate on developing the Islamic finance industry.
Data Privacy
PBOC Governor Calls for Stricter Laws to Protect Data
By Sanday Chongo Kabange | 05/11/2021
PBOC governor Yi Gang expressed concerns that some big tech firms have been collecting customer data without consent and misusing the data.
Data Privacy
China Further Tightens Rules on Cross-border Data Transfers
By Editors | 05/11/2021
Government reviews will be mandatory if data exporters handle personal data of more than 1 million residents, or the “sensitive” personal data of more than 10,000 people.
Tokenisation
HKMA Unveils New Measures to Achieve Fintech Vision
By Sanday Chongo Kabange | 04/11/2021
Prototype platforms for green bond tokenisation developed. Commercial Data Interchange enters pilot launch. AML Regtech Lab set for Friday launch.
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