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AI, Technology & Data
Cybersecurity
HKMA Issues Guidance on Managing Cyber Risk of Third-Parties
By Mark Johnston | 27/12/2023
Banks are asked to use scenario-based incident response strategies and regular drills to better prepare for supply chain attacks.
AI Risk & Governance
OECD Calls for Financial Regulators to Guide GenAI Deployment
By Ranamita Chakraborty | 26/12/2023
Financial regulatory frameworks safeguard market integrity and ensure consumer protection against risks associated with GenAI’s adoption, noted an OECD paper.
Payments & Settlements
RBA Sets Expectations for Enhanced Debit Card Market
By Sanday Chongo Kabange | 22/12/2023
The RBA wants all industry participants to support token portability and token synchronisation by June 2025.
Payments & Settlements
RBI Enables Card-on-File Tokenisation at Issuer Level
By Ajoy K Das | 22/12/2023
Token generation by card issuing banks and institutions will be possible with cardholder consent and AFA validation.
Data Privacy
HKMA Announces Launch Date for Bank Account Data Sharing Pilot
By Editors | 22/12/2023
The IADS pilot programme will commence on 1 January 2024 with the participation of 28 banks, covering deposit account information.
AI Risk & Governance
Singaporeans Open to GenAI, but Concerned About Data Security
By Nithya Subramanian | 21/12/2023
A robust and effective data governance strategy will be crucial for banks to ensure responsible use of AI, said Kanv Pandit of FIS.
Conduct, Culture & Accountability
HKMA Issues Guidance for Banks on Digital Marketing
By Sanday Chongo Kabange | 21/12/2023
Banks are asked to review their digital marketing activities for general banking products to ensure consumer protections are in place.
Data Privacy
Data Protection Rules in China: An Ongoing Cycle of Reinvention
By Jingyuan Shi | 21/12/2023
Jingyuan Shi discusses China’s changing rules on cross-border data transfer and examines the extra-territorial implications.
Fraud, Scams & Cybercrime
INTERPOL: $300m in Assets Seized in Latest HAECHI Operation
By Mark Johnston | 20/12/2023
The latest HAECHI operation resulted in nearly 3,500 arrests and the blocking of over 82,000 bank accounts linked to cyber-enabled scams.
Operational Risk
FSS Korea Targets Third-Party Risk Management With New Guidance
By Mark Johnston | 20/12/2023
The FSS has issued guidance to improve third-party risk management at firms that provide financial services electronically.
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