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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.
Data Privacy
US Proposes to Ban Chinese, Russian Tech in Vehicles
By Editors | 26/09/2024
The move would effectively ban Chinese and Russian vehicles in the US, which has already sharply raised tariffs on imports of Chinese EVs.
Cybersecurity
Navigating Hong Kong’s New Critical Infrastructure Cybersecurity Framework
By Albert Yuen | 25/09/2024
Albert Yuen and Jasmine Yung at Linklaters discuss the proposed new Cybersecurity CI Framework and implications for critical infrastructure operators.
AI Risk & Governance
HKMA Invites Banks to Apply for GenAI Sandbox Participation
By Manesh Samtani | 23/09/2024
The AI/GenAI sandbox trials will focus on three areas: risk management, anti-fraud measures, and customer experience.
Tokenisation
HSBC Tests Post-Quantum Cryptography With Tokenised Gold
By Manesh Samtani | 21/09/2024
HSBC pilot-tested the ability to move gold tokens across different ledgers while protecting against quantum computing attacks.
Operational Risk
ASIC Issues Guidance on Identifying Critical Business Services
By Thisanka Siripala | 21/09/2024
ASIC found deficiencies in how market participants are identifying critical business services and notifying the regulator of potentially disruptive events.
Cloud & Infrastructure
China Takes Aim at Poor Quality Mobile Banking Apps
By Manesh Samtani | 18/09/2024
Regulators have directed FIs to improve their management of mobile app development, enhance the user experience and better protect against IT risks.
Fraud, Scams & Cybercrime
France Attempting to Use New Cybercrime Law Against Telegram Founder
By Editors | 18/09/2024
The LOPMI law, enacted in 2023 and as yet untested, is the first globally that gives a court the power to punish executives for abuse of the platforms they operate.
Fraud, Scams & Cybercrime
Indonesian Crypto Exchange Indodax Suffers DPRK Hack
By Nithya Subramanian | 16/09/2024
Indonesia’s largest crypto exchange is facing losses of up to $20mn from a hack allegedly perpetrated by a North Korea-affiliated actor.
Cybersecurity
FINRA Warns of Rising Cyber Risks from Outsourced Services
By Nithya Subramanian | 16/09/2024
FINRA warns of threats from data breaches, zero-day vulnerabilities, weather-related outages, and social engineering campaigns.
Cybersecurity
Japan to Develop Guidelines to Quantum Proof Financial Sector
By Thisanka Siripala | 13/09/2024
A set of guidelines will be prepared to assist FIs in preparing for a transition to post-quantum cryptography, drawing from NIST standards.
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