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Cybersecurity
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.
Custody & Infrastructure
ASIC Issues New Guidance on Crypto Asset Custody
By Thisanka Siripala | 13/12/2024
ASIC revised a regulatory guide for funds management and custodial services to address crypto asset custody.
AI Risk & Governance
FSC Korea to Build Platform to Enable FIs to Use Open Source AI
By Manesh Samtani | 13/12/2024
The FSC said it will build a platform that provides open source AI models and data with performance and safety suitable for the financial sector.
Cybersecurity
Hong Kong Advances Cybersecurity Bill for Critical Infrastructures
By Editors | 12/12/2024
The Bill seeks to impose statutory requirements on designated operators of critical infrastructures to ensure that they take appropriate measures to protect from cyberattacks.
Cybersecurity
BSP Extends Cyber Risk Management Software to All Banks, VASPs
By Sanday Chongo Kabange | 10/12/2024
The BSP said it is expanding the use of its cyber risk management software known as ASTERisC* to all banks and VASPs.
Conduct, Culture & Accountability
ASIC Calls on Government to Ban Unfair Trading in Financial Services
By Sanday Chongo Kabange | 10/12/2024
ASIC’s Alan Kirkland says the proposed ban is needed to combat “dark patterns” which “distort, subvert, and undermine consumer choice”.
Fraud, Scams & Cybercrime
Australia ACMA to Collaborate with UK Ofcom on Combatting Scams
By Sanday Chongo Kabange | 08/12/2024
The ACMA and Ofcom will collaborate and share information to tackle the “pervasive scourge” of spam and scam communications.
Cybersecurity
EU Adopts New Legislative Package to Strengthen Cyber Resilience
By Thisanka Siripala | 06/12/2024
The legislation will establish a pan-European ‘cybersecurity alert system’ and a ‘cybersecurity emergency mechanism’ to enhance the EU’s response capabilities.
Emerging Prudential Risks
Geopolitical Risk Seen as Top Risk to Financial Industry in 2025
By Editors | 05/12/2024
The top threats to the financial industry identified in DTCC’s latest Systemic Risk Barometer Survey were geopolitical risk and cyber risk.
Fraud, Scams & Cybercrime
Malaysia Proposes Stricter Laws to Target Harm from Online Content
By Nithya Subramanian | 04/12/2024
The proposed amendments aim to curb objectionable online content to curb scams, online gambling, bullying and pornography.
Fraud, Scams & Cybercrime
HKMA Announces Two New Anti-Scam Measures for Banks
By Sanday Chongo Kabange | 04/12/2024
“Money Safe” will allow customers to segregate a portion of their deposits and protect it from fund outflows, similar to Singapore’s “Money Lock”.
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