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Cybersecurity
China to Increase Penalties for Breaches of Cybersecurity Law
By Darien Choong | 24/09/2022
Operators of critical information infrastructure using products or services that have not undergone security evaluations will face fines of up to 5 percent of annual revenue.
Cybersecurity
DTCC Warns of Risks from Quantum Computing Technology
By Editors | 23/09/2022
DTCC outlines steps firms should take to prepare for the emergence of new post-quantum cryptography standards. Final standards are scheduled for 2024.
Payments & Settlements
Banks, Tech Firms Propose Payments Pilot Using EU Digital IDs
By Editors | 22/09/2022
European banks and tech firms will show how payments and EU digital ID wallets can be combined across borders and in multiple currencies.
Payments & Settlements
BOT Details Plans to Upgrade Payment Systems
By Editors | 21/09/2022
The plans include the development of PromptBiz, a digital payment infrastructure system for the business sector.
Cloud & Infrastructure
MAS, IFSCA Sign FinTech Cooperation Agreement
By Editors | 20/09/2022
MAS and IFSCA will collaborate to support sandbox experimentation, enable companies to be referred to each other’s sandbox, and promote cross-border testing.
Cybersecurity
CyberSecurity Malaysia, MX Global Partner on Digital Assets
By Editors | 19/09/2022
The collaboration includes research and development, joint solution development, and cyber risk training and awareness programmes.
Data Privacy
US Formalises Requirements for CFIUS Reviews to Assess Cyber, Data Risks
By Manesh Samtani | 16/09/2022
CFIUS will have to consider five new sets of national security concerns when reviewing foreign investments in the US.
Sustainable Finance
MAS Launches New Transformation Map for Financial Industry
By Editors | 16/09/2022
MAS will promote the FX trading ecosystem, enhance fund structures, support fintechs, improve its bond infrastructure, and scale up sustainable and transition financing.
Emerging Prudential Risks
BCBS Advances Work to Ensure Banking System Resilience
By Editors | 15/09/2022
The BCBS agreed to continue assessing bank use of AI/machine learning, finalise a crypto framework by year-end, and develop measures to address climate risks.
Cybersecurity
BIS Explores How Central Banks View Cyber Threat Landscape
By Manesh Samtani | 15/09/2022
Central banks are prioritising investment in technical security control and resiliency, embracing risk management concepts, and adopting ‘zero-trust’ models.
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