AI, Technology & Data

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    Cloud & Infrastructure

    Taiwan Won’t Reopen Applications for Online-only Insurers

    By Editors | 27/01/2024

    Applications submitted in 2022 were not approved. Following a “comprehensive assessment”, the FSC said it will not reopen applications.

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    Fraud, Scams & Cybercrime

    CFTC Warns Investors of AI-driven Scams

    By Nithya Subramanian | 26/01/2024

    Investors are warned against falling prey to fraudsters who claim to be able to generate huge returns using bots and other AI-assisted technology.

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    Cybersecurity

    US Fintech EquiLend Suffers Ransomware Attack

    By Editors | 26/01/2024

    Ransomware gang LockBit claimed responsibility for the attack, which has forced Wall Street banks to manual processing of certain securities lending transactions.

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    Cybersecurity

    UK Government Seeks Feedback on Cyber Governance Code

    By Mark Johnston | 25/01/2024

    The government said that cyber threats should be prioritised as a key business risk, alongside financial and legal challenges.

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    AI Risk & Governance

    China Seeks Feedback on AI Industry Standardisation Plan

    By Mark Johnston | 25/01/2024

    China’s MIIT has issued draft guidelines for the construction of a comprehensive standardisation system for the AI industry.

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    Cybersecurity

    US SEC Confirms “SIM Swap” Attack as Cause of Social Media Hack

    By Editors | 24/01/2024

    The SEC said an employee’s phone was targeted in a “SIM swap” attack through the agency’s telecom carrier, after multifactor authentication was left disabled since last July.

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    Fraud, Scams & Cybercrime

    HKMA Proposes to Extend FINEST to Personal Account Data

    By Sanday Chongo Kabange | 24/01/2024

    The HKMA is seeking to extend FINEST, a bank-to-bank information sharing platform launched in June, to allow sharing of personal account information.

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    Structural Regulation

    Hong Kong SFC Outlines Strategic Priorities for 2024-2026

    By Sanday Chongo Kabange | 24/01/2024

    The SFC will explore potential connect initiatives with other markets, embrace tokenisation of traditional products, and introduce AI in its workflows.

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    Operational Risk

    HKMA to Bolster Bank Supervision With Social Media Monitoring Tool

    By Manesh Samtani | 23/01/2024

    The planned solution will be able to extract data from social media and websites and use NLP to analyse market sentiment and risks associated with banks.

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    Payments & Settlements

    Hong Kong to Phase Out Cheques Amid Digital Payments Boom

    By Mark Johnston | 23/01/2024

    The Hong Kong Association of Banks will set up a task force to explore options for encouraging cheque users to shift to digital payments.

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