AI, Technology & Data

Cloud & Infrastructure

US Treasury Calls for Caution When Adopting Cloud Tech

By Editors | 09/02/2023

Treasury’s report highlights concerns over market concentration in cloud service offerings, among other challenges that could detract from their benefits.

Cloud & Infrastructure

As Regulation Evolves, Regtech Will Continue to Boom  

By Leo Labeis | 09/02/2023

The success of the Digital Regulatory Reporting (DRR) programme highlights the opportunity that regtech presents and the increasingly important role technology will play in compliance, says Leo Labeis.

Supervision & Enforcement

ASIC to Restructure to Enable Faster Enforcement Decisions

By Editors | 09/02/2023

ASIC will streamline its business groups and reduce the number of divisions to make its enforcement approach more strategic and free up funding for technology investments.

Cybersecurity

ION Brings Traders Back Online Following Ransomware Attack

By Editors | 09/02/2023

Exchanges are reporting business as usual, though ION is said to be rebuilding its systems. Cybersecurity firm Crowdstrike will validate.

Anti-Money Laundering

India Orders Ban on Over 200 Betting and Loan Apps

By Editors | 08/02/2023

The move follows several arrests and raids on payment firms last year connected to a probe into money laundering by loan companies said to be controlled by Chinese individuals.

Data Privacy

Industry Bodies Call on ACCC to Intervene Against ING

By Sanday Chongo Kabange | 08/02/2023

FinTech Australia and FDATA say ING’s planned platform upgrade will invalidate thousands of CDR consents and force consumers to redo the process.

Conduct, Culture & Accountability

US SEC Expands Staff Messaging Probe to Hedge Funds

By Editors | 07/02/2023

The SEC has asked firms including Point72 Asset Management and Citadel to search employees’ personal devices for evidence of business dealings via unapproved channels.

Structural Regulation

SFC Seeks Early Submission of Data Required Under HKIDR

By Editors | 06/02/2023

Intermediaries are asked to submit their BCAN-CID Mapping Files as soon as possible to ensure sufficient time to verify the data and rectify any errors.

Fraud, Scams & Cybercrime

CBA to Introduce New ‘NameCheck’ Scam Prevention Feature

By Editors | 06/02/2023

‘NameCheck’ will provide customers an indication of whether the name and account details they have entered in money transfers are correct.