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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
HKMA Sets Expectations for CRA’s Exit from ‘Credit Data Smart’
By Sanday Chongo Kabange | 01/08/2024
Credit reference agency Nova Credit Limited has decided to cease operations and exit the new credit reference platform known as Credit Data Smart.
Data Privacy
China Proposes to Introduce National Cyberspace IDs
By Manesh Samtani | 01/08/2024
Cyberspace IDs would minimise the collection of personal information by internet platforms, the MPS and CAC said.
Fraud, Scams & Cybercrime
India: Ransomware Attack Disrupts Services at Nearly 300 Banks
By Ajoy K Das | 01/08/2024
The attack affected C-Edge Technologies, a TCS and SBI joint venture that provides technology services to small banks across India.
Cybersecurity
RBI Issues New Anti-Fraud Rules for Non-bank Payment Systems
By Ajoy K Das | 01/08/2024
The new master direction includes requirements to establish real-time fraud monitoring solutions and multi-factor authentication for all payment transactions.
Cybersecurity
Australian Treasury Publishes Digital and Cyber Security Strategy
By Sanday Chongo Kabange | 31/07/2024
The strategy focuses on four areas to ensure Treasury’s information and systems are secure, resilient, responsive, and fit-for-purpose.
Fraud, Scams & Cybercrime
Westpac, Optus Launch New Anti-scam Capability
By Sanday Chongo Kabange | 31/07/2024
Westpac launched a new in-app calling capability to protect customers from scammers trying to impersonate the bank.
Fraud, Scams & Cybercrime
China Issues Legal Guidelines for Combatting Asia’s ‘Fraud Parks’
By Manesh Samtani | 30/07/2024
The guidelines identify four key areas where punishment shall be imposed to combat large-scale industrial fraud parks in Southeast Asia.
Fraud, Scams & Cybercrime
Australia: Industry Body Launches ‘Online Scams Code’ for Tech Firms
By Sanday Chongo Kabange | 29/07/2024
The Code was introduced by DIGI as a “proactive initiative” to fast-track consumer protection measures ahead of mandatory codes being introduced in Australia.
Cybersecurity
ECB Concludes First Cyber Resilience Stress Test for Banks
By Manesh Samtani | 29/07/2024
The ECB said the results will help raise awareness about existing cyber risks and “the need for investment to further enhance cyber resilience”.
Fraud, Scams & Cybercrime
US, UK, South Korea Warn of DPRK Espionage Campaign
By Editors | 26/07/2024
Joint advisory says North Korean hacker group ‘Andariel’ is a threat to entities in the US, UK, South Korea, Japan and India.
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