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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.
Clearing & Post-Trade
Leveraging Technology and Hong Kong’s Unique Position to Manage Risk
By John Killian | 18/06/2020
Hong Kong markets have continued to operate resiliently, due in large part to the emphasis HKEX places on risk management, says Group Risk Officer John Killian.
Operational Risk
MAS Issues Directions on Safe Re-opening of Financial Sector
By Editors | 16/06/2020
Although access to in-person services will expand, MAS “strongly encourages” FIs and their customers to continue using digital financial services and e-payments as much as possible.
Data Privacy
FSC Korea Outlines Key Policy Tasks for H2 2020
By Editors | 14/06/2020
The measures include continued support for businesses and individuals, with some focus being diverted back to pre-Covid policy work to support innovation and data-driven initiatives.
Payments & Settlements
RBI Updates Oversight Framework for FMIs, Retail Payment Systems
By Editors | 14/06/2020
The framework details the oversight objectives, supervisory processes and assessment methodology the RBI will apply to financial market infrastructures and retail payment systems.
Fraud, Scams & Cybercrime
Korea: Unauthorised Toss Payments Prompt Wider Review of Fintechs
By Editors | 12/06/2020
The FSS is considering conducting reviews of some 40 fintech companies after eight unauthorised transactions were detected on Viva Republica’s payments platform Toss.
Cloud & Infrastructure
SFA Launches Self-assessment Framework, Toolkit for FinTechs
By Manesh Samtani | 10/06/2020
The framework and toolkit allow FinTechs to benchmark themselves against minimum standards on outsourcing, technology risk, and cyber hygiene, helping to fast-track onboarding with FIs.
Fraud, Scams & Cybercrime
Korea: Details of 900,000 Credit Cards Leaked, Sold Overseas
By Editors | 09/06/2020
The leaked information included card numbers, expiration dates and the three-digit security code on the back of cards. About 410,000 of the leaked cards are still active.
KYC & CDD
FSC Korea Launches Task Force on Identity Verification Systems
By Editors | 08/06/2020
The FSC supports the development of innovative authentication mechanisms that can provide convenience, safety and security in electronic financial transactions.
Cybersecurity
WFE Details Industry Efforts to Ensure Cyber Resilience of Markets
By Editors | 29/05/2020
WFE members are continuously investing resources and technology to enhance their capabilities under the philosophy that it is not a question of ‘if’ they experience a cyber incident but when.
Cloud & Infrastructure
FSC Korea to ‘Reshape’ Regulations, Infrastructures to Boost Innovation
By Editors | 28/05/2020
In a welcome speech for Online Korea Fintech Week, FSC chairman Eun Sung-soo said the regulator will pursue innovation based on three main pillars.
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