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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.
Emerging Prudential Risks
Geopolitical Risk a Grave Concern for Financial Services in 2018
By Editors | 14/12/2017
DTCC report says cyber risk continues to be seen as greatest threat, but many firms now see geopolitical issues as one of the five biggest concerns.
Fraud, Scams & Cybercrime
Bank Officials Involved in Majority of Online Banking Forgeries in Bangladesh
By Garima Chitkara | 23/11/2017
A Bangladesh Institute of Bank Management survey has found that bank officials are directly involved in 67 per cent of online banking forgeries in collusion with IT firms.
Cybersecurity
MAS MD Sets out Fintech Regulation Agenda
By Editors | 16/11/2017
Ravi Menon sets out raft of initiatives including new Payment Services Bill, technology risk management guidelines, machine readable forms.
Cybersecurity
Singapore Launches Cybercrime Centre
By Garima Chitkara | 16/11/2017
Centre is a collaboration between FS-ISAC and MAS; will provide internship training cybercrime fighters from Temasek Polytechnic.
Custody & Infrastructure
Korean Firms Launch ‘World 1st’ Blockchain-based Authentication
By Garima Chitkara | 09/11/2017
Financial Investment Association says Chain ID is a world first, authentication only has to be performed once every three years.
Cybersecurity
HK Brokers Face Cost Squeeze from Cybersecurity Guidelines
By JP Reimann | 30/10/2017
Brokers will be required to use 2FA for client log-ins; implement raft of new measures including management responsibility, stress tests.
Cybersecurity
Taiwan FSC to Establish Platform for Information Security
By Editors | 19/10/2017
Order issued after reports that hackers breached bank’s online transaction system and stole $60mn which was distributed via SWIFT.
Market Data & Technology
Communication Breakdown
By Peter Guy | 09/10/2017
WhatsApp et al have widened a grey area in compliance rival financial messaging services are trying to exploit.
Cybersecurity
Thai Banks Join up to Improve Cybersecurity
By Editors | 09/10/2017
Fifteen banks in Thailand have set up a group to tackle information technology stability and security and prepare for cyber-attacks.
Operational Risk
Malaysia Revising Prudential Framework for Outsourcing by Financial Institutions
By Editors | 04/10/2017
Banks will be urged to enhance due diligence and do more to protect data confidentiality as BNM cites risks from outsourcing to shared services.
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