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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
Australia Set to Announce A$1.2bn Digital Economy Strategy
By Editors | 10/05/2021
The full strategy will be released on 11 May, and include investments in artificial intelligence, cyber security, the CDR rollout, and Australia’s digital identity system.
Cybersecurity
IMF Offers Guidance to Central Banks on Fintech, Cybersecurity
By Sanday Chongo Kabange | 04/05/2021
The surge of technological innovation and related cybersecurity issues strengthen the need for enhanced risk management at central banks, the IMF says.
Emerging Prudential Risks
APRA Chair Outlines Initiatives to Financial Sector Risks
By Sanday Chongo Kabange | 03/05/2021
APRA is piloting a risk culture survey, independent cyber security reviews, and a new data collection exercise on technology and cyber risks.
Data Privacy
China Consults on Revisions to Data Privacy, Data Security Laws
By Sanday Chongo Kabange | 03/05/2021
The latest revisions will impose stricter requirements on internet platforms and restrict Chinese firms from handing data to foreign agencies.
Cybersecurity
DSB Opens Consultation on OTC ISIN, CFI Service Provision
By Editors | 02/05/2021
The consultation focuses on cloud resilience, cybersecurity risk assessments, and enhanced support for supplier risk assessment activities.
Cloud & Infrastructure
MAS Launches RegTech Grant Scheme, Enhances DAG Scheme
By Editors | 01/05/2021
The RegTech grant scheme is available to Singapore-based FIs to help them enhance processes and capabilities in their risk management and compliance functions.
Cybersecurity
RBNZ Releases Final Guidance on Developing Cyber Resilience
By Ranamita Chakraborty | 29/04/2021
This guidance provides the baseline-level of cyber resilience recommendations as well as recommendations for enhanced-level practices.
Emerging Prudential Risks
National Security, Financial Stability are Mutually Dependent: HKMA
By Editors | 18/04/2021
Chief executive Eddie Yue said the HKMA is pursuing initiatives to enhance its use of technology to analyse financial data as part of its efforts in market supervision.
Emerging Prudential Risks
Rising Asset Prices May Risk Financial Stability: RBA
By Sanday Chongo Kabange | 18/04/2021
A correction in asset prices, if borrowers’ income were to fall and so they defaulted on debt repayments, could expose lenders to large losses.
KYC & CDD
Digital ID Perceived As Beneficial in Combatting Financial Crime
By Manesh Samtani | 14/04/2021
Digital IDs are perceived as beneficial for the fight against financial crime, an ACAMS-RUSI survey finds. However they may also present risks.
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