AI, Technology & Data

Data Privacy

Australia Fines Meta A$20m Over Misleading Data Usage Practices

By Editors | 27/07/2023

Australian Federal Court ordered Meta’s subsidiaries to pay AUD 20 million over deceptive consumer data usage, impacting over 270,000 users.

KYC & CDD

Australia: National Digital ID System Could Launch Within 12 Months

By Editors | 27/07/2023

Australia’s national digital ID system to revolutionise identity verification, streamline processes and enhance security.

Structural Regulation

CSRC Warns Against Negative Portrayals of China in IPO Documents

By Editors | 27/07/2023

Markets regulator urges law firms to tone down China risk descriptions in IPO prospectuses for offshore listings.

Payments & Settlements

Why Banks Should Leverage ISO 20022 as an Innovation Accelerator

By Pete McCormick | 26/07/2023

Pete McCormick discusses the challenges banks face in adopting ISO 20022, as well as the benefits of doing so, using a strategic approach.

CBDCs

CFA Institute Survey Shows Limited Support for CBDCs

By Ranamita Chakraborty | 26/07/2023

While 34 percent of survey respondents worldwide disagreed that central banks should launch CBDCs, those from APAC including India and China expressed a more favourable view.

Data Privacy

PBOC Proposes New Rules on Data Security Management

By Editors | 25/07/2023

China’s central bank releases draft rules on data security management, applicable to both domestic as well as foreign-funded financial institutions.

AI Risk & Governance

White House Secures Commitments on Responsible AI Development

By Editors | 24/07/2023

White House secured commitments from Amazon, Anthropic, Google, Inflection, Meta, Microsoft, and OpenAI.

Cybersecurity

Banks Targeted by Open-Source Software Supply Chain Attacks

By Editors | 24/07/2023

Checkmarx detected the first known open-source supply chain attacks targeting the banking sector.

Stablecoins

Myanmar’s Opposition Government Launches Neobank

By Editors | 23/07/2023

Users of ‘Spring Development Bank’ will be able to deposit foreign currency and receive USDT, which can also be exchanged for MMK.