AI, Technology & Data

Payments & Settlements

Hong Kong Launches New eMPF Platform

By Sanday Chongo Kabange | 27/06/2024

YF Life is the first MPF trustee to move to the new eMPF platform. The migration of all 12 trustees is set to be completed by the end of next year.

AI Risk & Governance

BIS Urges Central Banks to Keep Pace with AI

By Nithya Subramanian | 27/06/2024

In the financial sector, AI can improve efficiencies and lower costs for payments, lending, insurance and asset management, the BIS said.

Cloud & Infrastructure

BSP Delays Implementation of New Data Collection System

By Sanday Chongo Kabange | 26/06/2024

The implementation of BSP’s new ITRS has been deferred to 2025 to allow banks to address “emerging technical and report-related concerns”.

PEPs & Sanctions

EU Imposes New Cyber Sanctions Against Six Russian Actors

By Editors | 25/06/2024

The sanctions target two ‘Callisto group’ members, two ‘Armageddon hacker group’ members, and two others involved in deploying ‘Conti’ and ‘Trickbot’ malware.

Conduct, Culture & Accountability

Hong Kong Revises Banking Code of Practice for Marketing Calls

By Sanday Chongo Kabange | 25/06/2024

The code sets out limits on the frequency of person-to-person marketing and confines the hours of making such calls, among other revisions.

Structural Regulation

US Teasury Proposes Rules to Curb Investment in Chinese Tech

By Editors | 25/06/2024

The proposed rules prohibit US investment in certain technologies and products, and require notification for certain other transactions.

Fraud, Scams & Cybercrime

BSP Details Efforts to Address Fraud and Scam Threats

By Bradley Maclean | 25/06/2024

BSP officials discuss efforts to address fraud and scam threats through new requirements for banks and a thematic review of fraud management during 2024.

AI Risk & Governance

Taiwan Finalises Guidelines on Use of AI in Financial Industry

By Manesh Samtani | 25/06/2024

The guidelines are not legally binding, but are intended to provide direction and best practices for financial institutions.

AI Risk & Governance

EU Commission Launches Consultation on Use of AI in Finance

By Editors | 23/06/2024

The consultation and a series of workshops target all financial stakeholders, covering use cases, benefits, barriers, risks and stakeholder needs.