AI, Technology & Data

Fraud, Scams & Cybercrime

India: RBIH Wants Banks to Use AI to Detect Mule Accounts

By Editors | 03/12/2024

The Reserve Bank Innovation Hub is reportedly in talks with ten public and private banks about adopting its “Mulehunter.Ai” tool to identify mule accounts.

PEPs & Sanctions

US Targets China Chip Production With New Export Controls

By Editors | 03/12/2024

The controls aim to further impair China’s ability to procure and produce technology for its military modernisation, WMD programmes, and ability to repress human rights.

Cybersecurity

HKMA Issues New Statutory Guideline on Cyber Risk Management

By Manesh Samtani | 03/12/2024

The SPM module articulates the HKMA’s policy, overarching principles, and supervisory approach on banks for managing cyber risks.

Data Privacy

Australia Concludes Review of Credit Reporting Framework

By Thisanka Siripala | 02/12/2024

The review resulted in 37 recommendations, including the introduction of a separate licensing regime for credit reporting bodies to ensure accountability.

Cybersecurity

UK Launches AI Security Research Lab to Defend Against Cyber Threats

By Thisanka Siripala | 02/12/2024

The Lab will seek collaboration with the Five Eyes members to defend against the use of AI for malicious purposes, including attempts by Russia and North Korea.

CBDCs

Central Banks Offers Legal and System Design Lessons for Retail CBDC

By Manesh Samtani | 01/12/2024

Seven central banks have published two new papers summarising key legal and system design aspects of retail CBDC.

Cybersecurity

Japan Report Calls for Urgent Action to Address Quantum Risks

By Thisanka Siripala | 30/11/2024

Japanese FIs should have quantum-resistant cryptographic algorithms within high-priority systems ready for use by the mid-2030s.

Cloud & Infrastructure

China Issues Action Plan for Further Developing Digital Finance

By Editors | 30/11/2024

FIs are directed to designate a leading department for digital transformation and improve the quality and efficiency of digital financial services.

Data Privacy

Australian Parliament Passes First Tranche of Privacy Law Reforms

By Editors | 29/11/2024

The reforms expand the OAIC’s powers, giving it monitoring, investigative and inspection powers and the ability to issue infringement and compliance notices.