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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.
Fraud, Scams & Cybercrime
HK Banks to Introduce Anti Malware Security Measures This Month
By Sanday Chongo Kabange | 25/02/2024
The new security measures on banking apps will trigger immediate actions when malware or suspicious apps are detected on customers’ devices.
AI Risk & Governance
EU Establishes New Office to Implement AI Act
By Mark Johnston | 23/02/2024
The AI Office will be responsible for implementing the AI Act and fostering a trustworthy AI ecosystem in the EU.
Tokenisation
HKMA Sets Out Expectations on Tokenised Product Offerings
By Manesh Samtani | 20/02/2024
HKMA circular sets out expectations for the sale and distribution of tokenised products in respect of due diligence, disclosure and risk management.
Cybersecurity
MAS Issues Guidance for FIs on Quantum Cybersecurity Risks
By Ranamita Chakraborty | 20/02/2024
FIs are advised to conduct PoC trials with quantum security solutions to understand operational impacts and implementation challenges.
Cybersecurity
Korea Launches “Mock” Hacking Exercise Against Banks
By Manesh Samtani | 16/02/2024
Unlike conventional tabletop exercises that involve pre-agreed scenarios, the exercise will involve surprise hacking attempts against banks by ‘white hat’ hackers.
CBDCs
RBI to Enable CBDC Programmability, Offline Functionality
By Ajoy K Das | 10/02/2024
RBI statement also said it will introduce a new principle-based framework for the authentication of digital payment transactions.
Fraud, Scams & Cybercrime
India: Industry Body to Publish Whitelist of Digital Lenders
By Ajoy K Das | 09/02/2024
The Digital Lenders’ Association of India said borrowers will be able to use the list to protect themselves against scammers and fake apps.
Cybersecurity
Cybersecurity is the Biggest Risk for Global Banks: Survey
By Nithya Subramanian | 07/02/2024
The EY-IIF report says cyber threats are constantly morphing with evolving links to geopolitical, technology and third-party risks.
Fraud, Scams & Cybercrime
Singapore Strengthens Measures to Tackle AI Deepfakes
By Nithya Subramanian | 06/02/2024
Various government agencies and industry partners are working together to prevent the malicious use of deepfake technology.
Fraud, Scams & Cybercrime
HK, SG Take Down 139 Servers in INTERPOL Cybercrime Operation
By Editors | 05/02/2024
Operation Synergia, launched in response to the growing threat of transnational cybercrime, involved more than 50 participating countries.
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