AI, Technology & Data

Fraud, Scams & Cybercrime

HK Police Launch Advisory Panel to Help Combat Cybercrime

By Editors | 09/05/2023

The panel members will share recent technological developments, information on potential threats, and practical advice on police technologies.

Anti-Money Laundering

Singapore Passes Bill to Enable Data Sharing via COSMIC

By Editors | 09/05/2023

COSMIC will be rolled out in phases starting from H2 2024, enabling banks to alert one another about illicit activity involving their customers.

Cybersecurity

RBNZ Proposes to Collect More Data on Cyber Incidents

By Editors | 09/05/2023

The RBNZ proposes to introduce mandatory reporting of all material cyber incidents within 72 hours, and periodic reporting of non-material incidents.

Data Privacy

Australia: Medibank Faces Four Class Actions Over October Cyberattack

By Editors | 09/05/2023

The Federal Court is expected to consolidate the class actions. Medibank is also facing an investigation from Australia’s privacy regulator.

Cybersecurity

BIS to Test Quantum Resistant IT Environments for Financial System

By Editors | 09/05/2023

“Project Leap” will test the ability of a quantum-resistant algorithm to maintain the confidentiality of payment messages transmitted between Banque de France and Deutsche Bundesbank.

Conduct, Culture & Accountability

ASIC Revises Implementation Approach for IDR Data Reporting

By Sanday Chongo Kabange | 08/05/2023

97 large financial firms started reporting IDR data early this year. 260 firms will have to start reporting by August 2023. The remaining firms will have until 29 February 2024.

Cybersecurity

NYDFS Fines BitFlyer for Deficient Cybersecurity Programme

By Editors | 07/05/2023

BitFlyer USA did not perform risk assessments, implement a written cybersecurity policy, or conduct annual reviews. The firm said it has completed over 90% of its planned remediation work.

AI Risk & Governance

AI Ethics: A Framework for Investment Professionals

By Siva Ramachandran | 06/05/2023

CFA Institute’s Siva Ramachandran and Phoebe Chan examine the ethical aspects of using AI tools in investment management.

AI Risk & Governance

UK CMA Commences Review of AI Models

By Sanday Chongo Kabange | 05/05/2023

The CMA’s initial review will explore the opportunities and risks AI models could bring for competition and consumer protection.