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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    Fraud, Scams & Cybercrime

    Australia: New ID Register Blocks 300,000 Fraud Attempts

    By Nithya Subramanian | 15/04/2024

    Following the Optus breach, a new register was set up to prevent compromised personal credentials from being used as forms of identity.

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    Cybersecurity

    Financial Sector “Highly Exposed” to Cyber Risks, IMF Warns

    By Manesh Samtani | 11/04/2024

    This is the first time the IMF has assessed cybersecurity in its Global Financial Stability Report, which says cyber policy frameworks are “inadequate”.

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    Fraud, Scams & Cybercrime

    AI Deepfakes: An Insidious Threat and Real Challenge for FIs

    By Nithya Subramanian | 11/04/2024

    As regulators in Asia-Pacific take a range of approaches to tackle deepfakes, the evolving nature of this threat requires continuous vigilance and proactive measures from FIs.

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    Cybersecurity

    MAS, Mastercard Agree to Cooperate on Cybersecurity

    By Editors | 10/04/2024

    The MoU covers intelligence sharing and joint analysis of cyber threats impacting financial services as well as competency-building activities.

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    Operational Risk

    NZ FMA to Require Operational Resilience as Licence Condition

    By Sanday Chongo Kabange | 09/04/2024

    The FMA also launched a new “light-touch” online notification form for licence holders to notify the regulator of material incidents.

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    Cryptocurrency

    Korea to Soon Release Listing Guidelines for Virtual Assets

    By Editors | 09/04/2024

    Crypto platforms will not be allowed to list tokens that have had security incidents, unless the cause has been identified and explained and the damage has been recovered.

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    Cybersecurity

    Singapore Tables Bill in Parliament to Amend Cybersecurity Act

    By Nithya Subramanian | 04/04/2024

    Under the amendments, data centres, cloud services and other foundational digital infrastructure will be subject to a “light-touch” regulatory treatment.

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    Operational Risk

    DBS Making Good Progress on Technology Resiliency: CEO

    By Nithya Subramanian | 02/04/2024

    “Complete clarity” on whether transactions are successful will be made available by end-April, along with options for alternative channels when the system is down.

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    Cloud & Infrastructure

    HKMA to Soon Issue Guidelines for Banks on DLT Adoption

    By Manesh Samtani | 02/04/2024

    HKMA’s Raymond Chan said the new guidelines will not be binding nor exhaustive, but they will provide a “helpful benchmark” for banks looking to plan and develop DLT solutions.

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    Cybersecurity

    Vietnam Brokerage Resumes Trading Following Week Long Outage

    By Editors | 02/04/2024

    Vietnam’s third-largest securities broker was disconnected from the market for six days due to a cyber attack by international hackers.

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