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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
BSP to Probe GCash Over Unauthorised Deductions
By Sanday Chongo Kabange | 12/11/2024
The unauthorised deductions incident was attributed to a “system error”, but the BSP has vowed to investigate.

Cybersecurity
UK Orders Chinese Firm to Sell Stake in Semiconductor Business
By Editors | 07/11/2024
The order aims to mitigate the risk of “UK-developed semiconductor technology and associated intellectual property being deployed in ways that are contrary to UK national security”.

Fraud, Scams & Cybercrime
Interpol-led Operation Takes Down Thousands of Servers Liked to Cybercrime
By Nithya Subramanian | 07/11/2024
Hong Kong Police took more than 1,037 servers offline, while Macau Police took down 291 servers as part of Operation Synergia II.

Fraud, Scams & Cybercrime
US Charges Chinese Hedge Fund Manager for Stealing Trade Secrets
By Nithya Subramanian | 06/11/2024
Xiao Zhang allegedly stole code, projects and research from the US investment firm employing him with the intent of establishing his own operation in China.

Cybersecurity
MAS, BdF Complete Joint Experiment on Post Quantum Cryptography
By Editors | 06/11/2024
The experiment tested the use of quantum-resistant cryptographic algorithms for email communications. The next phase will focus on payments.

Cybersecurity
Bangladesh Bank Directs FIs to Enhance Cyber Defences
By Nithya Subramanian | 05/11/2024
The recommended measures include robust authentication protocols, AI-driven monitoring and enhancements to access control systems.

Anti-Money Laundering
Regulation Asia Awards for Excellence 2024 – Results Announcement
By Editors | 05/11/2024
Regulation Asia held its 7th annual Awards ceremony on 4 November 2024. Here we announce the winners in each category.

Fraud, Scams & Cybercrime
Global Operation Dismantles Major Malware Operations: Eurojust
By Nithya Subramanian | 02/11/2024
Authorities shut down servers and seized domains linked to RedLine and META, which stole personal data from millions of victims worldwide.

Clearing & Post-Trade
RBI Updates Requirements for CCPs on Governance Arrangements
By Editors | 31/10/2024
The new directions for CCPs increase reliance on independent directors and raise the obligations of board-level technical committees.

AI Risk & Governance
ASIC Says Governance Arrangements are Lagging AI Adoption
By Sanday Chongo Kabange | 30/10/2024
ASIC Chair Joe Longo said must consider their existing obligations and duties and avoid simply waiting for AI laws and regulations to be introduced.
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