AI, Technology & Data

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    Cybersecurity

    Japan Cyber Agency Hit by State-Sponsored Hack – Report

    By Editors | 29/08/2023

    THe breach initially occurred in October last year. NISC did not spot the problem until June this year and then disclosed it on 4 August.

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    Data Privacy

    Taiwan Tightens Telemarketing Rules for Banks

    By Editors | 29/08/2023

    The new rules will take effect after a nine-month grace period to allow time for banks to make adjustments to their systems and processes.

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    Supervision & Enforcement

    ASIC’s New 4-Year Plan Highlights Heavy Enforcement Focus

    By Editors | 29/08/2023

    ASIC will target scams, digitally-enabled misconduct, predatory lending, and greenwashing, while also “closely monitoring” the use of AI.

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    AI Risk & Governance

    Weighing the Benefits and Risks of Generative AI in Financial Services

    By Ranamita Chakraborty | 29/08/2023

    Regulation Asia talks to experts to weigh the benefits and risks of deploying generative AI in the financial sector.

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    AI Risk & Governance

    Digital Technologies, Sustainability Key Areas for Dispute Resolution

    By Jill Wong | 29/08/2023

    The Singapore Convention Week, jointly organised by Singapore’s Ministry of Law and UNCITRAL, kicks off today (29 August) with discussions around digital technologies and sustainability.

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    Operational Risk

    OCBC Suffers Near Four-hour Bank Service Outage

    By Editors | 28/08/2023

    OCBC’s internet and mobile banking platforms were disrupted from around 8.30am until around 12.20pm on Monday.

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    AI Risk & Governance

    HKMA Announces Expanded Scope of Fintech Push

    By Sanday Chongo Kabange | 28/08/2023

    The HKMA will take “proactive steps” to assist banks, brokers and insurers to “put fintech solutions into action”.

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    Operational Risk

    APRA to Punish Failures to Meet Operational Resilience Expectations

    By Mark Johnston | 26/08/2023

    APRA’s Therese McCarthy Hockey said additional capital requirements will be imposed on entities found to be “significantly wanting” in compliance.

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    Tokenisation

    HKMA to Explore Regulatory Changes to Promote Bond Tokenisation

    By Sanday Chongo Kabange | 26/08/2023

    The report suggests new requirements could be introduced for DLT platforms, covering areas from KYC and AML compliance to BCPs and cyber risk assessments.

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    Conduct, Culture & Accountability

    Sri Lanka Issues New Consumer Protection Regulations

    By Duruthu E Chandrasekera | 24/08/2023

    Aggressive sales practices, abusive debt recovery practices, and excessive fees and interest charges are prohibited.

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