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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.
Cybersecurity
Indian Government Asks Banks to Ramp Up Cybersecurity Measures
By Ajoy K Das | 29/11/2023
A meeting with banks and payments firms was convened by federal authorities in the wake of recent disruptions at Uco Bank and Bank of Baroda
Fraud, Scams & Cybercrime
HKMA Launches New Service to Alert FPS Users of Potential Fraud
By Sanday Chongo Kabange | 29/11/2023
The new alert mechanism will alert banking customers when an FPS proxy ID is flagged as “High Risk” on the Scameter search engine.
Data Privacy
OECD Issues Policy Paper on Open Finance Data Sharing
By Mark Johnston | 28/11/2023
The new paper analyses the potential impacts of data sharing frameworks in the financial sector and provides recommendations for their implementation.
Fraud, Scams & Cybercrime
Australian Banks Launch “New Offensive” Against Scams
By Manesh Samtani | 24/11/2023
Priority initiatives to make banking safer include a new confirmation of payee system and expanded intelligence sharing.
Cryptocurrency
MAS to Phase in New Crypto Rules Starting Mid-2024
By Editors | 23/11/2023
The rules cover business conduct, technology risks, and consumer access. Crypto assets can be counted towards accredited investor net worth calculations.
Cybersecurity
Australia Issues Seven-Year National Cyber Security Strategy
By Manesh Samtani | 23/11/2023
Small businesses will be given cyber health checks, cyber law enforcement funding will increase, and mandatory reporting of ransomware attacks will be introduced.
AI Risk & Governance
Regulators Must Keep Pace with Technology to Manage Systemic Risks
By Nithya Subramanian | 23/11/2023
With frauds and crimes getting sophisticated, institutions and regulators need to assume an increased level of responsibility, said Deborah Young.
PEPs & Sanctions
UK, South Korea to Cooperate on North Korea Sanctions Patrols
By Editors | 23/11/2023
Agreement calls for greater naval cooperation to detect and thwart violations of UN sanctions off the coast of North Korea.
Fraud, Scams & Cybercrime
Ransomware Group Files SEC Complaint Against its Own Victim
By Mark Johnston | 20/11/2023
ALPHV/BlackCat attacked software company MeridianLink, then filed a complaint with the US SEC saying the company failed to disclose the attack.
Cybersecurity
India’s UCO Bank Calls in Federal Investigators to Probe Payments Disruption
By Ajoy K Das | 19/11/2023
The CBI is being called in to investigate a possible cyber-attack or manipulation of the state-owned bank’s internal systems.
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