AI, Technology & Data

Cloud & Infrastructure

New Zealand FMA to Launch Regulatory Sandbox Pilot in 2025

By Editors | 12/12/2024

The FMA is inviting expressions of interest from firms interested in joining the sandbox pilot, which will run from January to July 2025.

Cybersecurity

Hong Kong Advances Cybersecurity Bill for Critical Infrastructures

By Editors | 12/12/2024

The Bill seeks to impose statutory requirements on designated operators of critical infrastructures to ensure that they take appropriate measures to protect from cyberattacks.

AI Risk & Governance

RBI to Form Dedicated Committee to Develop Framework for AI

By Editors | 11/12/2024

The committee of experts shall recommend a “robust, comprehensive, and adaptable AI framework” for the financial sector, the RBI said.

Anti-Money Laundering

US Lawmakers Allege Widespread Abuse of BSA for Surveillance

By Thisanka Siripala | 11/12/2024

The lawmakers say the government access to the private financial data of US citizens is “widespread and virtually unchecked”.

Cybersecurity

BSP Extends Cyber Risk Management Software to All Banks, VASPs

By Sanday Chongo Kabange | 10/12/2024

The BSP said it is expanding the use of its cyber risk management software known as ASTERisC* to all banks and VASPs.

Conduct, Culture & Accountability

ASIC Calls on Government to Ban Unfair Trading in Financial Services

By Sanday Chongo Kabange | 10/12/2024

ASIC’s Alan Kirkland says the proposed ban is needed to combat “dark patterns” which “distort, subvert, and undermine consumer choice”.

Fraud, Scams & Cybercrime

Australia ACMA to Collaborate with UK Ofcom on Combatting Scams

By Sanday Chongo Kabange | 08/12/2024

The ACMA and Ofcom will collaborate and share information to tackle the “pervasive scourge” of spam and scam communications.

Fraud, Scams & Cybercrime

Australian Lawmakers Call for Reforms to Address Financial Abuse

By Thisanka Siripala | 07/12/2024

Parliamentary report calls for legislative reforms and for FIs to play a proactive role in identifying and supporting individuals facing financial abuse

AI Risk & Governance

CFTC Issues Advisory on Use of AI by Regulated Entities

By Nithya Subramanian | 06/12/2024

The advisory is intended to remind market participants of their regulatory obligations as they begin to develop and implement AI.