AI, Technology & Data

Data Privacy

HKMA Announces New Data Linkage to Boost SME Finance

By Sanday Chongo Kabange | 27/08/2024

Banks can access information on SMEs from Hong Kong’s Companies Registry via HKMA’s CDI platform.

KYC & CDD

Taiwan Banks to Allow Companies to Open Accounts Digitally

By Editors | 26/08/2024

The FSC said banks should allow “all types” of non-individual clients to open digital deposit accounts, provided appropriate verification, controls and monitoring are in place.

Fraud, Scams & Cybercrime

French Police Arrests Telegram Chief Executive Pavel Durov

By Editors | 26/08/2024

French authorities allege a lack of moderation on Telegram to prevent criminal use, and failure to cooperate with law enforcement in criminal cases.

Operational Risk

OJK Indonesia Launches Digital Resilience Guide for Banks

By Nithya Subramanian | 26/08/2024

The guide addresses key aspects of business continuity, disruption management, and consumer protection in the evolving digital landscape.

Operational Risk

BNM Fines Bank of China’s Malaysia Unit for Outsourcing Violations

By Nithya Subramanian | 26/08/2024

BNM said the bank did not obtain prior approval before relocating core banking systems to new data centres.

Structural Regulation

China Further Opens Up Foreign Investment in Key Sectors

By Editors | 25/08/2024

China’s 2024 negative list removes restrictions in the manufacturing, telecommunications, education, and healthcare sectors.

Fraud, Scams & Cybercrime

Singapore Considers Granting Police More Powers to Block Scams

By Nithya Subramanian | 23/08/2024

The police will be able to block banking transactions if there is “reasonable belief” that victims will transfer money to scammers.

Custody & Infrastructure

SFC Finds ‘Unsatisfactory Practices’ at Some Crypto Firms

By Editors | 23/08/2024

The SFC found an overreliance on just a few executives for custody and inadequate safeguards against cybercrime risks.

Fraud, Scams & Cybercrime

US SEC Fines Transfer Agent for Failure to Guard Against Cyber Fraud

By Editors | 23/08/2024

The transfer agent’s failures led to more than $6.6mn in losses from two separate cyber intrusions, one of which involved Hong Kong bank accounts.