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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
Singapore FIs Need Stronger Cyber Risk Culture: MAS CSAP
By Editors | 01/10/2019
CSAP members cite poor risk culture as a frequent contributing factor during cyber incidents, highlighting that clear expectations must be set at the board and senior management level.
Cybersecurity
Singapore Unveils New Framework for Upskilling Financial Sector
By Editors | 30/09/2019
The IBF, MAS, SkillsFuture and Workforce Singapore jointly developed the framework to help finance industry professionals upgrade their skills and remain relevant.
Cloud & Infrastructure
Regulatory Reporting: An Approach for Smaller Banks
By Irene Liu | 25/09/2019
Banks are starting to gain real business value from investments into better data governance and architecture, say Irene Liu, David Yakowitz and Catherine Lee at PwC.
Data Privacy
RBI Orders Banks, NBFCs to Restrict Access to Credit Data
By Editors | 24/09/2019
Financial institutions in India are known to be giving fintech firms and institutional agents direct access to data from credit bureaus, without customer consent.
Fraud, Scams & Cybercrime
UPDATED – ASIC, Federal Police Dismantle Online Fraud Syndicate
By Editors | 18/09/2019
The syndicate is said to have used fraudulently-obtained identities to steal millions of dollars from the superannuation and share trading accounts of innocent victims.
Cybersecurity
Korean Banks Boost Spending of Cybersecurity, IT: BOK
By Editors | 17/09/2019
Banks are increasingly relying on outsourcing for cloud computing, which may become a potential vulnerability if adequate precautions are not in place.
AI Risk & Governance
India Government Panel Pushes for Fintech, Regtech Adoption
By Editors | 04/09/2019
The panel has also proposed the development of a marketplace model for P2P lending, and the introduction of virtual banking in India.
Operational Risk
APRA to Improve Capabilities to Combat Non-Financial Risks
By Editors | 30/08/2019
In its four-year corporate plan, APRA identifies four areas of strategic focus, including to improve cyber-resilience and governance standards in the financial sector.
Data Privacy
Uncovering the Terms and Conditions for Technology
By Max Kantelia | 27/08/2019
Legislators and industry leaders need to work together to ensure the benefits of innovation do not come at the cost of fairness, choice, and privacy, says Zilliqa co-founder Max Kantelia.
AI Risk & Governance
China to Accelerate Development of Fintech Regulatory Framework
By Editors | 27/08/2019
The PBOC said it will accelerate the development of a regulatory framework for fintech in a bid to promote China as a world leader in financial technology.
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