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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.
Tokenisation
Regulatory Certainty Needed to Fully Benefit from Tokenisation: SFC
By Nithya Subramanian | 01/04/2024
The SFC’s Elizabeth Wong says intermediaries planning to offer tokenised products must demonstrate that they have done their due diligence and can manage the associated risks.
AI Risk & Governance
NZ FMA Supports Use of Gen AI by Finance Sector
By Nithya Subramanian | 30/03/2024
Executive Director Daniel Trinder said the FMA would like to hear from firms about their use of GenAI to understand how risks are managed.
Data Privacy
Australian Senate Passes Digital Identity Bill
By Editors | 29/03/2024
The Bill will allow myGovID to be used by the private sector, and accredited private sector IDs to be used for some government services.
Cybersecurity
US Treasury Publishes Report on AI-Specific Cyber Risks
By Manesh Samtani | 28/03/2024
The report outlines measures including the development of a common AI lexicon and a data lake to help FIs train AI models to detect fraud.
Data Privacy
China Relaxes Rules on Cross-border Data Transfers
By Editors | 26/03/2024
The new rules allow businesses to transfer certain types of data overseas without declaration or security reviews, addressing concerns from foreign businesses.
PEPs & Sanctions
US, UK Announce Sanctions Against China-based Hackers
By Editors | 26/03/2024
A front company allegedly operating for China was sanctioned, along with 2 members of hacking group APT31. DOJ unsealed criminal charges against 7 individuals.
Data Privacy
China Proposes New Data Security Rules for Banks, Insurers
By Sanday Chongo Kabange | 25/03/2024
Banks and insurers must establish a “data security responsibility system”, and designate a centralised management department to be responsible for data security.
Cloud & Infrastructure
Hong Kong’s New eMPF Platform to Launch in June
By Sanday Chongo Kabange | 20/03/2024
The MPFA says all 12 MPF trustees in Hong Kong will start migrating data to the new eMPF platform in phases starting from June this year.
Cybersecurity
FSS Korea Unveils New Initiatives to Boost Industry’s Cyber Resilience
By Editors | 19/03/2024
The FSS will establish an “autonomous security system” that FIs will be able to use to conduct IT audits and self-inspections to identify security threats.
AI Risk & Governance
S. Korea Preparing Draft Artificial Intelligence Law: Official
By Editors | 19/03/2024
The draft law will define “high-risk AI”, business operator responsibilities, the composition of AI committees, and ethical principles.
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