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AI, Technology & Data
Data Privacy
EU to Streamline Reporting Obligations for Financial Sector
By Editors | 12/03/2024
MEPs voted to adopt new rules to streamline reporting obligations and reduce the administrative burden for the EU’s financial sector.
AI Risk & Governance
BSP Studying Impact of Generative AI on Banking Industry
By Sanday Chongo Kabange | 12/03/2024
The BSP is seeking to introduce ‘guardrails’ to mitigate potential risks associated with the use of Gen AI in the banking industry.
Fraud, Scams & Cybercrime
INTERPOL Unveils Results of Global Fraud Risk Assessment
By Editors | 12/03/2024
The assessment specifically identifies Asia as being the “focal point” of pig butchering fraud schemes, especially in poorer countries across the region.
Anti-Money Laundering
Singapore’s COSMIC Initiative Will Prioritise Consumer Safeguards
By Nithya Subramanian | 12/03/2024
COSMIC, launching in May, requires banks to implement a number of safeguards to protect legitimate customers from having their information shared.
Cloud & Infrastructure
BOE to Move Data & Analytics Platform to the Cloud
By Editors | 11/03/2024
The move is part of a modernisation programme that will also involve a “controlled set of pilots” of AI tools across the BOE.
Conduct, Culture & Accountability
RBI Tightens Rules for Debit and Credit Card Issuers
By Ajoy K Das | 11/03/2024
Card issuers are now required to put in place mechanisms to monitor the end use of funds for credit cards linked to business accounts.
Cloud & Infrastructure
Indonesia OJK to Provide Boost to Financial Sector Innovation
By Editors | 11/03/2024
The new regulation refines the regulatory sandbox mechanism to add eligibility criteria and to allow testing in crypto asset products.
Clearing & Post-Trade
US Fed Updates OpRisk Rules for Major Clearing Organisations
By Editors | 10/03/2024
Designated clearing and settlement utilities are required to establish an incident management framework and advance their cyber resilience capabilities.
AI Risk & Governance
INTERPOL Updates Guidance on AI Innovation in Law Enforcement
By Editors | 10/03/2024
The updated toolkit provides additional guidance for law enforcement agencies on AI governance, ethics and strategy development.
Cryptocurrency
UK Consults on Implementation of Crypto-Asset Reporting Framework
By Editors | 10/03/2024
HM Treasury proposes to enact rules in 2026 to enable the first information exchanges under CARF to start in 2027.
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