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AI, Technology & Data
Conduct, Culture & Accountability
MAS Proposes Simplify Data Collection Rules for Insurance Sales
By Nithya Subramanian | 05/02/2024
The proposals will streamline financial planning and allow consumers to meet their protection needs more easily, MAS said.
Fraud, Scams & Cybercrime
Online Criminal Harms Act Takes Effect in Singapore
By Nithya Subramanian | 05/02/2024
The law has been enabled to take quick actions, giving the government power to issue orders restricting the exposure of users to criminal activities on online platforms.
Fraud, Scams & Cybercrime
Multinational Firm Scammed by Deepfake Tech in Hong Kong
By Editors | 05/02/2024
A finance worker was duped in a video call by a deepfake version of his company’s CFO to transfer HKD 200 million.
Cybersecurity
FSC Korea Unveils Rule Changes Targeting Cyber Resilience
By Editors | 04/02/2024
The revisions will make the existing rules simpler and less prescriptive, allowing financial firms more room to make decisions autonomously.
Fraud, Scams & Cybercrime
Singapore Authorities Warn Against ‘Crypto Drainer’ Malware Threat
By Ranamita Chakraborty | 02/02/2024
The SPF and CSA recommend using hardware crypto wallets and verifying the legitimacy of smart contracts before interacting with them.
Supervision & Enforcement
RBI Issues Directive on Streamlining Internal Compliance Monitoring
By Ajoy K Das | 01/02/2024
A review found that internal compliance monitoring is still carried out with “significant manual intervention”.
AI Risk & Governance
Reforms Needed to Better Regulate AI: ASIC Chair
By Manesh Samtani | 01/02/2024
ASIC is conducting a review into the use of AI in the banking, credit, insurance, and advice sectors to better understand use cases and impacts to consumers.
Data Privacy
EU, Japan Sign Protocol on Cross-border Data Flows
By Editors | 01/02/2024
The protocol provides legal certainty that data flows between the EU and Japan will not be hampered by data localisation requirements.
Trading & Investment
SGX Marks New Milestone with First Active ETF Listing
By Ranamita Chakraborty | 01/02/2024
The launch of the new AI-powered active ETF, managed by Lion Global Investors and Nomura Asset Management, was announced last month.
Operational Risk
APRA Outlines Supervision and Policy Priorities for H1 2024
By Sanday Chongo Kabange | 01/02/2024
APRA’s priorities will include operational and cyber resilience, and embedding lessons from last year’s banking turmoil, among other areas.
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