AI, Technology & Data

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    Data Privacy

    CBIRC Issues New Rules on Reporting Regulatory Statistics Data

    By Editors | 15/01/2023

    Banks and insurers are required to manage statistical reporting work centrally, from a dedicated department, and to establish data review, governance, and quality control mechanisms.

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    Structural Regulation

    Thailand Proposes Licensing Framework for Virtual Banks

    By Sanday Chongo Kabange | 13/01/2023

    Foreign shareholders can own up to 25% of a virtual bank. A BOT waiver raises this to a 49% limit. Three licences will be granted next year.

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    Sustainable Finance

    Thai SEC Signs New Financial Services MoU with UK

    By Editors | 11/01/2023

    The MoU will focus on developing the FinTech sector, promoting sustainable finance, and increasing awareness of sustainable investment in Thailand and other ASEAN countries.

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    Payments & Settlements

    PayNow-UPI Linkage is Ready for Launch: MAS Official

    By Editors | 11/01/2023

    MAS chief fintech officer Sopnendu Mohanty said the integration of the two payment networks is “ready and waiting for launch”.

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    KYC & CDD

    Banks Can Perform Re-KYC Process Remotely, Says RBI

    By Editors | 10/01/2023

    If there is no change in a customer’s KYC information, only a self-declaration is required to complete the re-KYC process.

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    Cybersecurity

    Hong Kong’s Regulatory Landscape for Data and Technology Risk

    By Albert Yuen | 09/01/2023

    Albert Yuen and Jasmine Yung at Linklaters discuss Hong Kong’s regulatory approach to technology risk and data security.

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    Operational Risk

    Taiwan FSC Fines Cathay United Bank Again Over Outages

    By Editors | 06/01/2023

    The fine is the highest ever imposed against a bank by the FSC for IT-related issues. The bank’s president will also have his salary cut for three months.

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    Cybersecurity

    Philippines Launches Cyber Safety Campaign for Financial Customers

    By Editors | 05/01/2023

    The BSP and banking industry associations launched a new campaign to improve to cyber hygiene among financial customers.

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    Cybersecurity

    Telekom Malaysia Suffers Data Breach, Over 250,000 Users Affected

    By Sanday Chongo Kabange | 04/01/2023

    The government has instructed Malaysia’s NC4 and JPDP to investigate the breach and take necessary action. Maybank has also launched its own investigation into the breach.

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    Anti-Money Laundering

    Dutch Banks Start Charging Customers for AML Checks

    By Editors | 04/01/2023

    Companies, associations, charities and churches, among others, are being charged a monthly levy to cover the rising cost of AML checks.

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