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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
Australia Considers Legislation to Make Boards Liable for Cyber Risk
By Editors | 17/03/2021
Legislation currently before Parliament includes security obligations for entities responsible for critical infrastructure, a list that will be significantly expanded.
Cybersecurity
New Report Explores Outlook for Hong Kong Virtual Banks
By Editors | 17/03/2021
The paper features case studies of Revolut and Tinkoff Bank, as well as insights from interviews with all eight Hong Kong virtual banks.
Cloud & Infrastructure
BOJ Publishes Paper on Cloud Services Risk Management
By Sanday Chongo Kabange | 15/03/2021
The paper is aimed at helping FIs to improve their IT governance by increasing awareness of cloud services and related risk management practices.
Cloud & Infrastructure
GLEIF to Accelerate the LEI Integration in Digital Certificates
By Editors | 11/03/2021
GLEIF will work with Certification Authorities and Trust Service Providers to develop and promote best practices for the use of LEIs in digital certificates.
Cybersecurity
EBA on Heightened Security Alert Following Cyber Attack
By Editors | 09/03/2021
Tens of thousands of organisations in Asia, Europe and the US were targeted in a campaign that exploited vulnerabilities in different versions of Microsoft’s mail server software.
Anti-Money Laundering
KoFIU’s New AML System Showing ‘Significant Improvements
By Editors | 08/03/2021
The new STR filing system and the screening and analysis process have been made more efficient, while guaranteeing better system security and stability.
Cybersecurity
Taiwan FSC Penalises Brokers for Lax Security Controls
By Editors | 04/03/2021
Cathay Securities, Concord Securities and SinoPac Securities were fined the most and barred from certain business and capital raising activities for three months.
Operational Risk
BNM Revises Guidance on Operational Risk Reporting
By Editors | 03/03/2021
The revisions enhance the granularity of reporting requirements and align definitions with the FSB’s cyber lexicon.
Operational Risk
MAS, ABS Offer Guidance on Managing Remote Working Risks
By Manesh Samtani | 02/03/2021
The paper looks at possible risks to FIs in the areas of operations, technology, information security, fraud, staff misconduct, among others.
Cloud & Infrastructure
ASIFMA Calls for Harmonised Approach to Public Cloud Regulation
By Editors | 02/03/2021
Varying regulatory approaches across jurisdictions pose significant challenges to FIs trying to implement the public cloud as part of their global strategy.
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