AI, Technology & Data

Data Privacy

Korea FSC Designates Eight More ‘Data Specialising Institutions’

By Sanday Chongo Kabange | 19/07/2023

The newly designated firms are allowed to converge anonymised and pseudonymised data from different businesses for analytics purposes.

Cybersecurity

Chinese Authorities Call to Strengthen Cybersecurity Insurance Regulations

By Jill Wong | 19/07/2023

Two Chinese authorities issued an ‘opinion’ on ways to standardise and support the sound development of cybersecurity insurance.

AI Risk & Governance

AI Regulatory Sandboxes Need Cooperation and Expertise: OECD

By Ranamita Chakraborty | 19/07/2023

A recent OECD report on AI regulatory sandboxes highlights important policy considerations that emphasises the need to build AI regulatory expertise and interdisciplinary cooperation.

Cloud & Infrastructure

Philippines: Banks See Shift to XML-based Reporting as Beneficial, Despite Challenges

By Manesh Samtani | 19/07/2023

BSP officials and members of the banking community attended a Regulation Asia-Adenza roundtable to discuss new XML-based reporting requirements in the Philippines.

Payments & Settlements

Hong Kong to Launch New eMPF Platform in Q2 2024

By Sanday Chongo Kabange | 19/07/2023

Software development was largely completed in June. Testing will be completed within this year. Migration will commence in Q2 2024.

AI Risk & Governance

Chinese Authorities Release New Rules for Providers of Generative AI Services

By Editors | 19/07/2023

The rules require training data to be accurate, generated content to be properly labelled, security assessments to be performed, and channels for complaints reporting to be established.

Fraud, Scams & Cybercrime

NAB Blocks Payments to “High-risk” Cryptocurrency Platforms

By Editors | 18/07/2023

NAB will initially block “several” cryptocurrency exchanges that it has concerns with, but this could be expanded further in future.

AI Risk & Governance

US SEC Working on Rule Proposals to Mitigate Risks from AI

By Editors | 18/07/2023

SEC chairman Gary Gensler said AI could heighten financial fragility and promote herding behaviour among investors.

AI Risk & Governance

UNSC Hosts First-Ever Session on Artificial Intelligence

By Editors | 18/07/2023

UK Foreign Secretary James Cleverly called for urgent international cooperation in shaping the governance of AI.