ADVERTISEMENT
AI, Technology & Data
AI Risk & Governance
HKMA Issues Guidance for Banks on Using Generative AI
By Sanday Chongo Kabange | 20/08/2024
The HKMA encourages banks to proactively explore the use of GenAI to enhance consumer protection and better tailor products to individual customers.
Data Privacy
FSS Korea Assessing Data Protection at Naver Pay & Toss
By Editors | 20/08/2024
KakaoPay shared customer credit information with Alipay without consent. The FSS is assessing whether Naver Pay and Toss had similar breaches.
AI Risk & Governance
US Regulator to Crack Down on ‘Time-wasting’ Chatbots Used by FIs
By Editors | 17/08/2024
The CFPB will issue rules or guidance to regulate the use of “ineffective and time-wasting chatbots” by FIs in lieu of customer service.
Operational Risk
Japan FSA to Start Using AI for Monitoring Soundness of FIs
By Editors | 17/08/2024
The new system is being put in place to speed up the detection of issues in the financial system and help prevent financial crises and bank failures.
Supervision & Enforcement
OJK, HKMA Sign MOU to Expand Cooperation in Banking Supervision
By Editors | 16/08/2024
Indonesia’s OJK said it hopes to establish a supervisory college with the HKMA and enhance staff capacities at both regulators.
Data Privacy
Korea: FSS Probe Reveals Data Sharing Breaches by KakaoPay
By Nithya Subramanian | 16/08/2024
The FSS found that KakaoPay shared personal and credit information of tens of millions of users with Alipay without their consent.
Cybersecurity
APRA Issues Guidance to Address Cyber Control Weaknesses
By Sanday Chongo Kabange | 16/08/2024
APRA has identified issues relating to security in configuration management, privileged access management, and security testing.
Supervision & Enforcement
US Treasury Offers Additional Transparency on CFIUS Enforcements
By Editors | 15/08/2024
More information is now available about CFIUS enforcement actions imposed since 2022, the largest being a $60m penalty against T-Mobile.
AI Risk & Governance
ANZ Partners With Microsoft to Launch “AI Immersion Centre”
By Editors | 15/08/2024
ANZ plans to send 3,000 leaders through the facility over the next year to upskill them on GenAI and enable them to better support “adoption at scale”.
Cybersecurity
NIST Finalises First Three Post-Quantum Encryption Standards
By Manesh Samtani | 15/08/2024
Each standard contains the computer code and instructions for encryption algorithms that can withstand attacks from a quantum computer.
JOIN OUR NEWSLETTER
An exclusive weekly selection of top stories from the Regulation Asia editorial team.