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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
Hong Kong Passes Cybersecurity Law to Protect Critical Infrastructure
By Manesh Samtani | 20/03/2025
The law establishes requirements for operators of critical infrastructure, including in banking and financial services, to safeguard their computer systems from cyberattacks.

AI Risk & Governance
PBOC Embracing AI to Create “Digital Central Bank”
By Mark Johnston | 19/03/2025
Besides leveraging AI in the performance of its own duties, the PBOC will also promote the use of the technology by financial institutions.

Cybersecurity
Taiwan Fines Singapore Fintech Firm Over China Links
By Nithya Subramanian | 19/03/2025
AnyTech violated Taiwan’s investment norms due to links to a Beijing-based investor. Cathay United Bank terminated its contract with the Singapore company.

KYC & CDD
Korea Rolls Out Nationwide Mobile Resident Registration Card
By Thisanka Siripala | 18/03/2025
The initiative allows residents to access digital identification through their smartphones for use in activities such as bank account opening.

Cybersecurity
FSS Korea Meets with FinTech CEOs to Outline Supervisory Plans
By Thisanka Siripala | 18/03/2025
The meeting included executives from major fintech firms such as Kakao Pay, Toss Payments, Coupang Pay, and Naver Financial.

Cryptocurrency
S. Korea to Introduce Guidelines for Institutional Crypto Investors
By Mark Johnston | 18/03/2025
The FSC will introduce guidelines for institutional investors in cryptocurrency in the third quarter of this year.

Cybersecurity
ASIC Takes FIIG Securities to Court Over Cybersecurity Failures
By Thisanka Siripala | 14/03/2025
ASIC alleges systemic and prolonged cybersecurity failures led to the compromise of personal information of approximately 18,000 clients.

Fraud, Scams & Cybercrime
Korea Expands Crackdown on Financial & Cyber Crimes
By Thisanka Siripala | 13/03/2025
Special investigative teams, tougher penalties for deep fakes, and AI-driven fraud detection will be deployed to tackle cyber-enabled financial crime.

Cybersecurity
NIST Highlights Need for “Crypto Agility” in Face of Quantum Threats
By Thisanka Siripala | 13/03/2025
The report highlights slow algorithm transitions, risks of quantum computing, and the need for modular cryptographic systems.

AI Risk & Governance
BSP to Issue Draft Rules on Managing AI Risks Within H1 2025
By Sanday Chongo Kabange | 12/03/2025
The BSP’s new regulations on AI risk management in the financial sector are set to be released within the first half of this year.
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