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AI, Technology & Data
Data Privacy
HKMA Sets Expectations for CRA’s Exit from ‘Credit Data Smart’
By Sanday Chongo Kabange | 01/08/2024
Credit reference agency Nova Credit Limited has decided to cease operations and exit the new credit reference platform known as Credit Data Smart.
Data Privacy
China Proposes to Introduce National Cyberspace IDs
By Manesh Samtani | 01/08/2024
Cyberspace IDs would minimise the collection of personal information by internet platforms, the MPS and CAC said.
Fraud, Scams & Cybercrime
India: Ransomware Attack Disrupts Services at Nearly 300 Banks
By Ajoy K Das | 01/08/2024
The attack affected C-Edge Technologies, a TCS and SBI joint venture that provides technology services to small banks across India.
Cybersecurity
RBI Issues New Anti-Fraud Rules for Non-bank Payment Systems
By Ajoy K Das | 01/08/2024
The new master direction includes requirements to establish real-time fraud monitoring solutions and multi-factor authentication for all payment transactions.
Cybersecurity
Australian Treasury Publishes Digital and Cyber Security Strategy
By Sanday Chongo Kabange | 31/07/2024
The strategy focuses on four areas to ensure Treasury’s information and systems are secure, resilient, responsive, and fit-for-purpose.
Fraud, Scams & Cybercrime
Westpac, Optus Launch New Anti-scam Capability
By Sanday Chongo Kabange | 31/07/2024
Westpac launched a new in-app calling capability to protect customers from scammers trying to impersonate the bank.
AI Risk & Governance
SEBI Launches AI-enabled Chatbot to Address Investors’ Queries
By Ajoy K Das | 31/07/2024
The chatbot can currently answer questions relating to the securities market, the latest master circulars, and the grievance redressal process.
AI Risk & Governance
Regulating GenAI: New Tools, Old Challenges
By Bradley Maclean | 30/07/2024
Striking the right balance between automation and human expertise is vital to ensure the effective use of GenAI technology.
Structural Regulation
BSP Set to Reopen Applications for Digital Bank Licences
By Sanday Chongo Kabange | 30/07/2024
BSP Governor Eli Remolona said a circular would be released “soon” indicating when the application window will be reopened.
Fraud, Scams & Cybercrime
China Issues Legal Guidelines for Combatting Asia’s ‘Fraud Parks’
By Manesh Samtani | 30/07/2024
The guidelines identify four key areas where punishment shall be imposed to combat large-scale industrial fraud parks in Southeast Asia.
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