AI, Technology & Data

Structural Regulation

China’s Tech Sector to See Fewer, but Not Zero, Regulatory Actions

By Jill Wong | 24/05/2023

While the worst of the regulatory action against the tech sector is over, S&P Global Ratings expects more regulatory actions in the foreseeable future.

Fraud, Scams & Cybercrime

SG Police Warns of Scams From Scanning QR Codes

By Karen Ng | 24/05/2023

The increasing usage of QR codes for cashless payments have led to a spike in phishing scams in Singapore.

Data Privacy

Meta Fined Record $1.3b for Violating EU GDPR

By Sanday Chongo Kabange | 24/05/2023

Meta Ireland has been given six months to ensure its data processing operations for European users comply with GDPR.

Payments & Settlements

RBA Considers Banning ‘Default’ Route on Dual Network Cards

By Editors | 23/05/2023

The RBA had set an expectation that merchants would be offered least-cost routing by end-2022, but the industry did not meet this timeline.

AI Risk & Governance

MAS Launches AI & Data Analytics Talent Development Programme

By Editors | 23/05/2023

MAS will work with the IBF, educational institutions and training providers to develop and co-curate training programmes to address a shortage of AIDA talent.

Fraud, Scams & Cybercrime

Report Warns of Elevated Digital Attacks Rate Throughout 2023

By Sanday Chongo Kabange | 21/05/2023

LexisNexis Risk Solutions published a new report showing a 50 percent year-on-year increase in APAC’s payment attack rate.

Data Privacy

Korea Establishes Taskforce to Improve Data Regulations

By Editors | 19/05/2023

The taskforce was established to lay the groundwork for promoting “data-driven innovation” in the financial industry.

AI Risk & Governance

FSC Korea Vows to “Actively” Support AI-based Financial Services

By Sanday Chongo Kabange | 19/05/2023

FSC chairman Kim Joo-hyun asked FIs to actively invest in and use AI to strengthen the global competitiveness of Korea’s financial industry.

Market Abuse

SEBI Proposes New Rules to Tackle Suspicious Trading Activities

By Mark Johnston | 18/05/2023

The new framework would address the challenges posed by new-age technologies such as encrypted or vanishing messages.