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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
ASIC Prioritises Economic Recovery in New Corporate Plan
By Ranamita Chakraborty | 26/08/2021
ASIC’s key external priorities for the next four years include the economy, innovation, consumer harm, cyber resilience, and industry readiness for regulatory reforms.
Anti-Money Laundering
FSC Korea Confirms Plans for Dedicated Crypto Bureau at KoFIU
By Manesh Samtani | 26/08/2021
24 of the 63 crypto exchanges operating in Korea have not yet applied for ISMS certification, a KoFIU registration requirement that takes months to obtain.
Data Privacy
China Considers Data Controls for Firms Seeking Overseas IPOs
By Editors | 26/08/2021
The plan would require companies seeking overseas listings to hand over management and supervision of their data to third-parties.
Cryptocurrency
Japan: Crypto Firm Liquid Resumes Services Following $97m Hack
By Editors | 25/08/2021
Liquid has been tracing the movement of the stolen assets and working with other exchanges to freeze and recover the funds.
Fraud, Scams & Cybercrime
Singapore Police Charges Ex-UOB Banker Over Data Disclosure
By Editors | 25/08/2021
The ex-UOB employee accessed customer data from banking systems and disclosed the information to a scammer purporting to represent the Shanghai Police.
Sustainable Finance
Singapore, US Agree to Cooperate on Cyber, Climate Risk
By Editors | 24/08/2021
The climate partnership focuses on stronger collaboration on sustainable finance, standard setting, climate risk disclosures, and carbon markets.
Data Privacy
China Passes New Personal Data Protection Law
By Manesh Samtani | 22/08/2021
The law establishes a set of rules for the collection, processing and protection of personal information, effective from 1 November.
Supervision & Enforcement
CBIRC Launches Crackdown on Online Insurance Firms
By Sanday Chongo Kabange | 15/08/2021
The CBIRC has ordered online insurers to conduct self-checks to identify violations, make immediate corrections and hold responsible personnel to account.
Anti-Money Laundering
MAS Finalising New Data-sharing Platform for Banks
By Manesh Samtani | 05/08/2021
The new platform will enable banks to securely share information on customers exhibiting significant risk red flags and warn each other of potential criminal activity.
Cybersecurity
NZ FMA Issues Cyber Resilience Guidance for Financial Advisers
By Sanday Chongo Kabange | 30/07/2021
Under New Zealand’s new financial advice regime, many individuals and entities have not previously been subject to compliance obligations for cybersecurity.
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