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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.
Cryptocurrency
Money 20/20: MAS Speaks Out on Crypto Risks, Blockchain
By Manesh Samtani | 17/03/2018
In a speech at Money 20/20 Asia, MAS managing director Ravi Menon spoke about the promise of blockchain technology and containing cryptocurrency risks; AML/CTF risks present a “clear and present danger”.
Cybersecurity
APRA Takes Aim at Cyber Attacks with New Proposed Standard
By Garima Chitkara | 08/03/2018
New measures would require firms to have clearly defined information-security related roles, capabilities and controls to boost their ability to repel cyber criminals and respond to breaches effectively.
Fraud, Scams & Cybercrime
Vietnam Banks Ordered to Improve Internal Security
By Editors | 07/03/2018
Central bank instructs commercial lenders to improve staff oversight, upgrade security technology and boost fraud-related information sharing.
Emerging Prudential Risks
Too Early to Assess Fintech Risks – DTCC
By Samuel Riding | 14/02/2018
Firm suggests fintech adoption has clear benefits, but the systemic risks from increased adoption have yet to fully emerge.
Payments & Settlements
MAS Consults on E-Payment Guidelines
By Editors | 14/02/2018
The guidelines set standards on financial institutions providing e-payment services and their users.
Cryptocurrency
Japan Orders Internal Inspections at Cryptocurrency Exchanges Nationwide
By Manesh Samtani | 05/02/2018
All 32 cryptocurrency exchanges in Japan required to submit reports on security and risk management based on 43-item checklist.
Cryptocurrency
UPDATED – Japan FSA Responds to $530mn Cryptocurrency Theft
By Manesh Samtani | 31/01/2018
FSA orders Coincheck to improve security, implement preventative measures; will additionally inspect security mechanisms at other cryptocurrency exchanges.
Cybersecurity
FIX Releases New Technical Standard on Cybersecurity
By Editors | 26/01/2018
The new technical standard specifies how to use TLS to secure FIX communications, expected to improve cybersecurity across the industry.
Fraud, Scams & Cybercrime
ASIC Seeks Stronger Powers to Combat Cybercrime
By Manesh Samtani | 23/01/2018
Parliamentary submission suggests reforms allowing ASIC to assume identities on the dark web, share phone data with foreign regulators, seize electronic devices.
Cybersecurity
India’s Biometric Identity Database Vulnerable to Cyber Attacks: RBI Research
By Garima Chitkara | 11/01/2018
Aadhaar throwing up issues around data security even as financial benefits of the nation-wide biometric identification system are unclear.
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