AI, Technology & Data

Clearing & Post-Trade

ISDA to Commence Work to Update FX Standards

By Manesh Samtani | 26/03/2024

CEO Scott O’Malia said ISDA is also prioritising the development of a new industry notices hub and continuing to engage with US policymakers on the proposed Basel III reforms.

Fraud, Scams & Cybercrime

Malaysia SC Enhances PLC Surveillance With AI Technology

By Editors | 26/03/2024

An internally developed AI-powered tool called ‘PLC360’ can predict the likelihood of misconduct and identify emerging trends and supervisory concerns.

Data Privacy

China Relaxes Rules on Cross-border Data Transfers

By Editors | 26/03/2024

The new rules allow businesses to transfer certain types of data overseas without declaration or security reviews, addressing concerns from foreign businesses.

PEPs & Sanctions

US, UK Announce Sanctions Against China-based Hackers

By Editors | 26/03/2024

A front company allegedly operating for China was sanctioned, along with 2 members of hacking group APT31. DOJ unsealed criminal charges against 7 individuals.

Data Privacy

China Proposes New Data Security Rules for Banks, Insurers

By Sanday Chongo Kabange | 25/03/2024

Banks and insurers must establish a “data security responsibility system”, and designate a centralised management department to be responsible for data security.

Payments & Settlements

Australia’s High Value Clearing System Has Adopted ISO 20022

By Mark Johnston | 25/03/2024

The transition was one of the “largest and most complex programmes of work AusPayNet has undertaken to date in-house,” said CEO Andy White.

AI Risk & Governance

BIS Launches New AI & Data Project to Gain Economic Insights

By Editors | 25/03/2024

Project Neo aims to address the loss of effectiveness in decision-making as a result of delays and a lack of detail in official macroeconomic statistics.

Anti-Money Laundering

Achieving Effectiveness in AML is a Shared Mission: HKMA’s Carmen Chu

By Bradley Maclean | 25/03/2024

Ms Carmen Chu discusses Hong Kong’s threat landscape, HKMA’s efforts to improve industry effectiveness, and key messages for FIs on collaboration and the use of technology.

Structural Regulation

EU, China Hold Inaugural Meeting of New Working Group

By Mark Johnston | 22/03/2024

Regulators from both sides discussed AML, supervisory cooperation, sustainable finance, capital markets, cross-border data transfers, payments, and CCP equivalence.