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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
Korean Crypto Exchanges Urged to Bolster IT Security After Failures
By Thisanka Siripala | 12/02/2025
FSS inspections in the last two months found traffic surges overloaded exchange servers, highlighting the need for infrastructure upgrades.

Supervision & Enforcement
US Consumer Financial Protection Bureau Suspends Activities
By Nithya Subramanian | 11/02/2025
Acting Director Russell Vought directed employees to stay home and pause all CFPB investigations and enforcement actions.

Cybersecurity
Swift Action Needed for Transition to Post-Quantum Cryptography
By Thisanka Siripala | 11/02/2025
The Europol-backed Quantum Safe Financial Forum said FIs and policymakers must take immediate steps towards a quantum-safe financial ecosystem.

Cybersecurity
RBI to Boost Security of Cross-border CNP Transactions
By Nithya Subramanian | 11/02/2025
The RBI proposes to require an additional factor of authentication for card-not-present transactions initiated by overseas merchants or acquirers

Data Privacy
APAC Governments Impose Restrictions on Use of DeepSeek
By Mark Johnston | 10/02/2025
South Korea, India, Australia and Taiwan have imposed restrictions on using DeepSeek on government devices.

Cybersecurity
S. Korea Finalises Rule Changes to Bolster Cyber Resilience
By Mark Johnston | 10/02/2025
The revisions provide financial institutions greater decision-making autonomy and strengthen the role of CEOs and directors in overseeing cybersecurity matters

AI Risk & Governance
GFIN Report Calls Out Risks to Consumers from AI
By Thisanka Siripala | 10/02/2025
The report says financial consumers could be harmed by black box approaches, data privacy issues, and AI washing.

Fraud, Scams & Cybercrime
Europol Leads Global Operation to Dismantle Cybercrime Forums
By Thisanka Siripala | 09/02/2025
Authorities made two arrests, seized 12 domains, and confiscated 17 servers and over 50 electronic devices.

Cybersecurity
SFC Directs Brokers to Address Cybersecurity Vulnerabilities
By Manesh Samtani | 07/02/2025
The SFC has set out expected standards after a review of cybersecurity breach incidents found several vulnerabilities at brokers

AI Risk & Governance
BIS Paper Offers Guidance on AI Governance in Central Banking
By Thisanka Siripala | 06/02/2025
The report recommends that central banks integrate AI oversight into existing risk management frameworks and processes such as the 3LoD model.
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