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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
OJK Indonesia Directs Banks to Prioritise Digital Transformation
By Editors | 02/11/2021
OJK says banks need to prioritise digital transformation to improve their competitiveness and ensure the overall resilience of the banking sector.
Cybersecurity
MAS Advisory Panel Offers Recommendations on Cybersecurity
By Editors | 31/10/2021
The Cyber Security Advisory Panel said security awareness and competency in the blockchain space are “not where they needed to be”.
Cybersecurity
US Agencies Probe Chinese Payment Terminal Maker PAX
By Manesh Samtani | 28/10/2021
PAX Global Technology is reportedly under investigation over allegations from a US payment processor that its terminals are being used to stage cyberattacks.
Cloud & Infrastructure
PBOC Issues Guidance on Using Open Source Technology
By Editors | 28/10/2021
FIs are encouraged to actively participate in the development of “international and domestic” open source technology communities.
Cybersecurity
China to Allow Foreign Investors to Open VPN Services
By Darien Choong | 27/10/2021
Foreign telecoms companies will be allowed to set up joint ventures in China to provide VPN services to foreign businesses operating in Beijing.
Cybersecurity
Taiwan’s FSC Amends Regulations for Financial Holding Companies
By Darien Choong | 26/10/2021
Foreign banks in Taiwan are no longer required to have a local chief of information security if there is a designated officer at the head office or regional level.
Structural Regulation
HK Financial Sector Calls for Easing of Covid Restrictions
By Sanday Chongo Kabange | 25/10/2021
Nearly half of surveyed FIs are considering moving staff or functions away from Hong Kong due to operational challenges, including travel and quarantine uncertainty.
Cybersecurity
FSB Seek Global Harmonisation in Cyber Incident Reporting
By Editors | 20/10/2021
The FSB will promote convergence in cyber incident reporting by developing best practices, defining information to be shared, and creating common terminologies.
Structural Regulation
FMA Sets Target Dates for Financial Advice Licensing
By Editors | 19/10/2021
Transitional licences under the new financial advice regime will expire on 16 March 2023. Providers are asked to apply for full licences ahead of time.
Fraud, Scams & Cybercrime
UPDATED – BOT Calms Nerves Amid Large Scale Bank Card Fraud
By Pongnut Thanaboonchai | 18/10/2021
More than 10,000 card holders have experienced unatuthorised transactions on credit and debit cards issued by several Thai banks.
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