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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 Unveils Cyber Security Strategy for 2020
By Editors | 06/08/2020
Law enforcement will receive funding to bolster its ability to go after cyber criminals, complemented by the use of AUSTRAC’s financial intelligence expertise to target their profits.
Operational Risk
BCBS Proposes Principles to Promote Operational Resilience at Banks
By Manesh Samtani | 06/08/2020
The principles aim to increase bank resilience to operational risk shocks, such as those arising from pandemics, cyber incidents, technology failures and natural disasters.
Cloud & Infrastructure
MAS to Set Up Regional Digital Finance Institute
By Sanday Chongo Kabange | 06/08/2020
The Asia Institute of Digital Finance will be jointly operated by MAS, the National Research Foundation and the National University of Singapore.
Fraud, Scams & Cybercrime
Interpol Reveals ‘Alarming Rate’ of Cyberattacks During Covid-19
By Editors | 04/08/2020
Interpol warns that a further increase in cybercrime is highly likely in the near future, citing vulnerabilities related to working from home.
Cloud & Infrastructure
Malaysia Launches New Initiative to Boost Fintech Development
By Editors | 04/08/2020
The Fintech Booster programme is expected to spur a more dynamic fintech ecosystem that can facilitate continued innovation in the financial services sector.
PEPs & Sanctions
EU Imposes First Sanctions Against Cyber Attackers
By Editors | 03/08/2020
Measures will be taken against six individuals and three entities, including travel bans, asset freezes, and a prohibition on obtaining funding from the EU.
Payments & Settlements
FSC Korea to Overhaul Digital Finance Regulations – Report
By Editors | 27/07/2020
Mobile payment service providers will be allowed to offer deferred payment services, issue payment accounts to users, and enable larger transaction limits.
Data Privacy
Data: Fault Lines Criss-crossing Asia’s Capital Markets
By Matthew Chan | 27/07/2020
Global harmonisation and progressive thinking are needed to support data connectivity between markets, says Matthew Chan at ASIFMA.
Cybersecurity
Singapore Financial Sector Sees Increased Cyber Attack Frequency
By Editors | 23/07/2020
In a VMware Carbon Black report, financial services firms cited a rise in attack frequency and sophistication, with custom malware the most frequently experienced attack.
Payments & Settlements
BNM Issues Draft Rules on Merchant Acquiring Services
By Editors | 22/07/2020
The exposure draft sets out regulatory requirements for merchant acquiring services to ensure proper risk management amid rapid changes in the e-payments landscape.
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