AI, Technology & Data

Credit Risk

Cambodia’s Sathapana Bank Signs Up For AI Platform

By Karen Ng | 29/05/2023

Artificial intelligence is being used by banks to assess the credit risk of borrowers.

Fraud, Scams & Cybercrime

Hong Kong Police Launch “CyberDefender Metaverse” Platform

By Editors | 29/05/2023

The platform is designed to help educate the public about cyber crimes in the Metaverse, especially those involving virtual assets.

Cybersecurity

APRA Directs Regulated Entities to Address MFA Implementation Gaps

By Sanday Chongo Kabange | 26/05/2023

Multi-factor authentication is one of the “most effective controls” an organisation can implement to unauthorised access to a device or network, APRA says.

PEPs & Sanctions

[FIXED] Castellum.AI Identifies “Critical” Error in BIS Export Control Data

By Manesh Samtani | 26/05/2023

The Entity List, containing over 2,400 entries, appears to have been accidentally replaced with only the most recent 71 additions.

Conduct, Culture & Accountability

First Citizens Sues HSBC for Hiring Ex-SVB Employees

By Sanday Chongo Kabange | 25/05/2023

First Citizens says a former SVB executive moved to HSBC and executed a scheme to “plunder” trade secrets.

Cybersecurity

NYDFS Fines Lender $4.25m for Breaching Cybersecurity Rules

By Mark Johnston | 25/05/2023

OneMain Financial Group failed to properly manage access privileges and conduct due diligence on third-party vendors, NYDFS said.

ESG Data

PITCH! REGTECH: ESG Data Needs to Be More Accurate 

By Ranamita Chakraborty | 25/05/2023

Panellists at Regulation Asia’s PITCH! REGTECH conference said RegTech needs to be “creative” to help FIs manage ESG data.

Fraud, Scams & Cybercrime

PITCH! REGTECH: Drawing the Line Between RegTech and Frustrated Customers 

By Karen Ng | 25/05/2023

As they embark on the RegTech race, banks cannot ignore frustrated customers.

Fraud, Scams & Cybercrime

PITCH! REGTECH: Rising Digital Crimes Give Urgency to Fraud Detection 

By Karen Ng | 25/05/2023

The prevalence of digital crimes has given urgency to the need by banks to develop cutting-edge fraud detection systems, says DBS Bank’s head of legal & compliance Lam Chee Kin.