AI, Technology & Data

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    Supervision & Enforcement

    Global Data Sharing Standards Needed to Combat Financial Crime

    By Thisanka Siripala | 18/09/2024

    The GCFFC has published a paper calling for the development of legal pathways for cross-border data sharing for the purpose of combatting financial crime.

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    Cloud & Infrastructure

    China Takes Aim at Poor Quality Mobile Banking Apps

    By Manesh Samtani | 18/09/2024

    Regulators have directed FIs to improve their management of mobile app development, enhance the user experience and better protect against IT risks.

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    Fraud, Scams & Cybercrime

    France Attempting to Use New Cybercrime Law Against Telegram Founder

    By Editors | 18/09/2024

    The LOPMI law, enacted in 2023 and as yet untested, is the first globally that gives a court the power to punish executives for abuse of the platforms they operate.

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    Anti-Money Laundering

    China Consults on Revisions to Anti–Money Laundering Law

    By Manesh Samtani | 17/09/2024

    The revisions now include stronger protections for personal data and requirements for FIs to assess and manage risks arising from new technologies.

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    AI Risk & Governance

    New Zealand FMA Joins Global Financial Innovation Network

    By Editors | 17/09/2024

    The FMA said GFIN will provide it greater opportunities to collaborate with other regulators and work on topics such as AI and tokenisation.

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    Fraud, Scams & Cybercrime

    Indonesian Crypto Exchange Indodax Suffers DPRK Hack

    By Nithya Subramanian | 16/09/2024

    Indonesia’s largest crypto exchange is facing losses of up to $20mn from a hack allegedly perpetrated by a North Korea-affiliated actor.

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    Cybersecurity

    FINRA Warns of Rising Cyber Risks from Outsourced Services

    By Nithya Subramanian | 16/09/2024

    FINRA warns of threats from data breaches, zero-day vulnerabilities, weather-related outages, and social engineering campaigns.

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    Cloud & Infrastructure

    Singapore Launches e-Apostille Service for Document Authentication

    By Nithya Subramanian | 13/09/2024

    From 2025,  documents issued by ACRA can be authenticated online, reducing the processing time and the need for physical submissions.

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    Cybersecurity

    Japan to Develop Guidelines to Quantum Proof Financial Sector

    By Thisanka Siripala | 13/09/2024

    A set of guidelines will be prepared to assist FIs in preparing for a transition to post-quantum cryptography, drawing from NIST standards.

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    AI Risk & Governance

    SIFMA Calls for Technology-Neutral Approach to AI Regulation

    By Nithya Subramanian | 13/09/2024

    SIFMA says additional rules should only be considered if gaps are identified that existing regulatory and legal frameworks cannot address.

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