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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
HKMA Outlines Three Year Roadmap for Suptech Adoption
By Manesh Samtani | 20/06/2021
The HKMA will explore the potential conversion of regulations into machine-executable codes and the introduction of a system that automatically creates regulatory reports.
Trading & Investment
Vietnam: HoSE Commences Trials on New Trading System
By Ranamita Chakraborty | 17/06/2021
HoSE has commenced connection trials with securities firms and intends to start functional trials from 26 July.
Cybersecurity
Banking on API Management to Succeed in the Digital World
By David Chan | 16/06/2021
AdNovum’s David Chan discusses the need to safeguard APIs as financial institutions increasingly seek to digitalise their services.
Cybersecurity
Hong Kong Needs New Cybersecurity Legislation: FSDC
By Manesh Samtani | 16/06/2021
The FSDC recommends the development of legislation to provide legal certainty and protection, clarity on cross-border data transfers, and a framework for accountability.
Data Privacy
China Passes Data Security Law, Effective in September
By Manesh Samtani | 15/06/2021
Companies that provide data to foreign judicial or law enforcement agencies without approval can have their business licences revoked and be penalised up to CNY 5 million.
Cloud & Infrastructure
HKMA Announces New Fintech Development Strategy
By Editors | 09/06/2021
The “Fintech 2025” strategy seeks the comprehensive adoption of technology in the financial sector by 2025 through a focus on five key areas.
Fraud, Scams & Cybercrime
US DOJ Forms Ransomware and Digital Extortion Task Force
By Editors | 06/06/2021
The task force will be used to coordinate efforts to combat ransomware attacks, which will now be treated with the severity of terrorism threats.
Cybersecurity
RBA to Modernise Identity, Access Management Capabilities
By Ranamita Chakraborty | 04/06/2021
The RBA has issued a tender request inviting firms to supply it technology to enhance its identity and access management capabilities.
Cloud & Infrastructure
MAS Issues Guidance on Managing Risks of Cloud Services
By Editors | 04/06/2021
In a new advisory, MAS highlights the key risks and control measures FIs should consider before adopting public cloud services.
Cybersecurity
MAS Issues Consultation Response on Credit Reporting Regulations
By Manesh Samtani | 01/06/2021
Licensed credit bureaus will be required to establish a Code of Conduct and comply with requirements on technology risk management and cyber security.
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