AI, Technology & Data

AI Risk & Governance

FSS Korea to Use Naver’s AI Tech in Supervisory Work

By Editors | 04/04/2024

Under a new MoU, the FSS will be able to use Naver’s technologies to enhance its supervision, monitoring, and inspection activities.

Cybersecurity

Singapore Tables Bill in Parliament to Amend Cybersecurity Act

By Nithya Subramanian | 04/04/2024

Under the amendments, data centres, cloud services and other foundational digital infrastructure will be subject to a “light-touch” regulatory treatment.

Data Privacy

ACCC Fines HSBC for Disclosing Inaccurate CDR Data

By Sanday Chongo Kabange | 03/04/2024

HSBC failed to disclose complete mortgage interest rate details and accurate credit card balances in response to separate requests for this data made via the CDR.

Cloud & Infrastructure

The Compliance Complexity Driving RegTech Demand in APAC

By Ed Probst | 02/04/2024

The growing complexity of regulatory requirements including in the reporting space is prompting FIs to rethink their approach to compliance, says Ed Probst.

Operational Risk

DBS Making Good Progress on Technology Resiliency: CEO

By Nithya Subramanian | 02/04/2024

“Complete clarity” on whether transactions are successful will be made available by end-April, along with options for alternative channels when the system is down.

Structural Regulation

FSS Korea Launches New Registration System for Investment Firms

By Mark Johnston | 02/04/2024

The new system will streamline the registration process for prospective financial investment businesses and eliminate the need for physical documents.

Cloud & Infrastructure

HKMA to Soon Issue Guidelines for Banks on DLT Adoption

By Manesh Samtani | 02/04/2024

HKMA’s Raymond Chan said the new guidelines will not be binding nor exhaustive, but they will provide a “helpful benchmark” for banks looking to plan and develop DLT solutions.

Cybersecurity

Vietnam Brokerage Resumes Trading Following Week Long Outage

By Editors | 02/04/2024

Vietnam’s third-largest securities broker was disconnected from the market for six days due to a cyber attack by international hackers.

AI Risk & Governance

Korea Launches “Financial Sector AI Council” to Drive GenAI Adoption

By Mark Johnston | 01/04/2024

The ‘Financial Sector AI Council’ will serve as a platform to promote the safe use of GenAI in the finance industry, while addressing regulatory challenges.