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.

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    AI Risk & Governance

    US Federal Reserve Governor Cautions Against Hasty AI Regulation

    By Mark Johnston | 26/11/2024

    Fed Governor Michelle Bowman cautions policymakers against hastily imposing strict AI regulations, as it could hinder banking innovation.

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    Cybersecurity

    Singapore Launches Consultation on Proposed Online Safety Legislation

    By Nithya Subramanian | 25/11/2024

    The proposed reforms include a complaints mechanism for victims, statutory torts for legal redress and measures to increase accountability for harmful content.

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    Cybersecurity

    EU Cyber Resilience Act Published in Official Journal

    By Thisanka Siripala | 23/11/2024

    Non-compliance can result in fines up to 2.5 percent of the offender’s total worldwide annual turnover for the preceding financial year.

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    AI Risk & Governance

    EU and Singapore Strengthen Cooperation on AI Safety

    By Nithya Subramanian | 21/11/2024

    The US also launched the “International Network of AI Safety Institutes” to drive alignment and encourage safe, secure, and trustworthy AI innovation around the world.

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    Structural Regulation

    S. Korea and Poland to Boost Cooperation on Banking

    By Mark Johnston | 20/11/2024

    About 370 Korean companies operate in Poland, but none are financial companies. The MOU will enable Korean banks to expand to Poland.

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    Cloud & Infrastructure

    RBI to Launch Public Cloud for Financial Services Industry

    By Editors | 19/11/2024

    The RBI programme will use only local IT firms to offer cloud data storage to financial firms at affordable prices.

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    Payments & Settlements

    HKMA Asks Merchant Acquiring Banks to Promote Mobile POS

    By Sanday Chongo Kabange | 19/11/2024

    Banks are asked to promote adoption of mobile POS terminals by merchants to help expand coverage “as far as practicable”.

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    AI Risk & Governance

    APAC Regulatory Environment for GenAI Needs to Remain Flexible

    By Eugene Goyne | 15/11/2024

    As the use cases for GenAI in the financial sector grow, regulators will play a critical role in how GenAI applications are shaped and brought to market.

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    Conduct, Culture & Accountability

    NatWest Blocks Messaging Apps on UK Work Devices

    By Nithya Subramanian | 14/11/2024

    NatWest Group has restricted access to ensure staff only use “approved channels” for business communications.

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    AI Risk & Governance

    HK SFC Sets Expectations on Use of GenAI Language Models

    By Manesh Samtani | 14/11/2024

    Licensed corporations intending to adopt GenAI language models in “high-risk use cases” are asked to discuss their plans with the SFC first.

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