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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    Cybersecurity

    Taiwan to Bolster Security Standards for E-Payments Firms

    By Editors | 07/05/2024

    The FSC asked the banking association to develop standards for electronic payment institutions based on the existing norms for banks.

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    Operational Risk

    MAS Ends Six-Month Pause on Non-Essential Activities at DBS

    By Nithya Subramanian | 02/05/2024

    MAS will retain the additional capital requirement and “closely monitor” DBS Bank’s progress on the remaining deliverables.

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    Cybersecurity

    BIS to Develop AI Solution for Assessing Cyber Resilience

    By Editors | 02/05/2024

    The solution will be able to collect and analyse data to assess the cyber security and resilience maturity of a country’s financial sector.

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    Data Privacy

    Revised State Secrets Law Takes Effect in China

    By Editors | 01/05/2024

    The amendments widened the scope of restricted sensitive information to “work secrets” and information that “will cause certain adverse effects if leaked”.

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    Cybersecurity

    ICICI Bank Expresses Regret for Exposing Credit Card Data

    By Ajoy K Das | 30/04/2024

    A glitch caused 17,000 credit cards to be erroneously mapped to the wrong users, who were able to see all the card details in the bank’s mobile app.

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    Data Privacy

    Hong Kong Working on Proposals to Amend Privacy Law

    By Manesh Samtani | 30/04/2024

    The amendments will include the introduction of a mandatory personal data breach notification mechanism.

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    Data Privacy

    Message Encryption In Focus for Indian, European Authorities

    By Editors | 29/04/2024

    WhatsApp will leave India if it is required to break encryption. Europol expresses concern with message encryption on Messenger.

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    Cybersecurity

    RBI Imposes Business Restrictions on Kotak Mahindra Bank

    By Ajoy K Das | 25/04/2024

    The bank is prohibited from onboarding new customers and issuing fresh credit cards due to long-standing IT risk management deficiencies.

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    Cybersecurity

    BOJ, FSA Publish Results from Cybersecurity Self-Assessments

    By Mark Johnston | 25/04/2024

    The results reveal that challenges remain in securing and training cybersecurity personnel and managing third-party risks.

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    Cybersecurity

    GIFT City IBUs Directed to Offer Internet Banking Within Six Months

    By Ajoy K Das | 25/04/2024

    IFSC Banking Units in GIFT City are asked to benchmark their internet banking services against top global banks in Singapore and Hong Kong.

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