AI, Technology & Data

Conduct, Culture & Accountability

US SEC Fines JPMorgan for Inadvertently Deleting Emails

By Editors | 25/06/2023

The emails were accidentally permanently deleted during a project to delete certain historical communications from the 1970s and 1980s.

Data Privacy

Korea ‘Financial AI Data Library’ to Start Operations in July

By Sanday Chongo Kabange | 24/06/2023

The Financial AI Data Library allows the reuse of pseudonymous information in a secure environment, which will help fintechs and financial firms save time and cost.

Payments & Settlements

RBA Consults on Options for Enhancing Debit Card Market

By Sanday Chongo Kabange | 23/06/2023

The RBA seeks to prevent any one debit network from being given routing priority at issuance for domestic transactions.

Cybersecurity

CFTC to Propose Rule on Operational and Cyber Resilience

By Editors | 23/06/2023

CFTC commissioner sees a need for the industry to shift “from incident response to cyber resilience”. New rule will be proposed in the next few months.

Cloud & Infrastructure

BSP Introduces Open Finance Pilot to Advance Financial Inclusion Objectives

By Ranamita Chakraborty | 23/06/2023

The pilot involves participation from FIs to co-develop an “open, interoperable, and scalable ecosystem”, supported by the BSP and IFC.

Cloud & Infrastructure

FSB Consults on Third-Party Risk Management Toolkit

By Editors | 23/06/2023

The toolkit has been developed amid a growing reliance on third-party service providers for critical financial sector operations.

KYC & CDD

OCBC Launches Digital Account Opening Service for Foreign Consumers

By Editors | 23/06/2023

Customers who plan to relocate to Singapore from Malaysia, Indonesia, mainland China and Hong Kong can open OCBC bank accounts digitally.

Cybersecurity

US DOJ Launches New Section to Focus on Cyber Threats

By Mark Johnston | 23/06/2023

The new section will focus national security cyber threats, such as state-sponsored hackers, cybercriminals, and money launderers.

AI Risk & Governance

ASIC Chair Cautions Against Hasty Implementation of AI Tools

By Editors | 22/06/2023

ASIC plans to extend its automated order processing rules to futures markets and update its electronic trading guidance to reflect developments with AI.