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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.
Cryptocurrency
DMM Bitcoin to Shut Down, Transfers Assets to SBI Subsidiary
By Mark Johnston | 04/12/2024
DMM Bitcoin has been unable to recover from the May theft of approximately 4,502.9 Bitcoins and has decided to shut down operations.
Cybersecurity
SEC Settles ICBC Recordkeeping Charges from 2023 Cyber Incident
By Editors | 03/12/2024
ICBC failed to keep its books and records current for almost four months following the November 2023 ransomware attack. No penalty was imposed.
Cybersecurity
HKMA Issues New Statutory Guideline on Cyber Risk Management
By Manesh Samtani | 03/12/2024
The SPM module articulates the HKMA’s policy, overarching principles, and supervisory approach on banks for managing cyber risks.
Cybersecurity
UK Launches AI Security Research Lab to Defend Against Cyber Threats
By Thisanka Siripala | 02/12/2024
The Lab will seek collaboration with the Five Eyes members to defend against the use of AI for malicious purposes, including attempts by Russia and North Korea.
CBDCs
Central Banks Offers Legal and System Design Lessons for Retail CBDC
By Manesh Samtani | 01/12/2024
Seven central banks have published two new papers summarising key legal and system design aspects of retail CBDC.
Cybersecurity
Japan Report Calls for Urgent Action to Address Quantum Risks
By Thisanka Siripala | 30/11/2024
Japanese FIs should have quantum-resistant cryptographic algorithms within high-priority systems ready for use by the mid-2030s.
AI Risk & Governance
HKUST Launches New GenAI Platform for Financial Sector
By Sanday Chongo Kabange | 29/11/2024
HKUST’s new InvestLM, designed to support the financial services industry, is available through the HKMA’s GenAI Sandbox.
AI Risk & Governance
UK Regulators Find Widespread Use of AI in Financial Sector
By Thisanka Siripala | 27/11/2024
75 percent of UK financial services firms already using AI in some capacity, but reliance on a small number of third-party providers raises concerns.
AI Risk & Governance
Japan FSA Using AI to Streamline Operations and Improve Efficiency
By Thisanka Siripala | 26/11/2024
The FSA introduced a system that can quickly search through documents held by different departments and then summarise their contents.
Clearing & Post-Trade
IOSCO Publishes Final Guidance on Post Trade Risk Reduction Services
By Manesh Samtani | 26/11/2024
The guidance addresses risks relating to control and governance around algorithms, fair treatment of participants, data protection, and other areas.
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