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Cloud & Infrastructure
RBI Issues Guidelines on Establishing Digital Banking Units
By Ranamita Chakraborty | 11/04/2022
Commercial banks with past digital banking experience can open new digital banking units without having to seek authorisation from the RBI.
CBDCs
European Commission Launches Targeted Consultation on Digital Euro
By Editors | 07/04/2022
The consultation seeks views on the application of AML/CFT rules, privacy and data protection, and financial stability impacts, among other areas.
Credit Risk
China to Use ‘Social Credit’ Scores in Lending Market
By Darien Choong | 07/04/2022
Authorities say they are seeking to use the social credit system to improve financing opportunities and increase lending to businesses and individuals.
AI Risk & Governance
OJK Launches New Integrated Data Analytics System
By Editors | 06/04/2022
‘OSIDA’ leverages data analytics and artificial intelligence to process and analyse large datasets reported by banks to detect risk.
Reporting & Disclosures
From Russia in Haste
By ESG Investor | 06/04/2022
The response of corporates and investors to the invasion of Ukraine suggests both need to overhaul their due diligence processes.
Cybersecurity
Singapore Tightens Laws on Technology Risk, Crypto Assets
By Sanday Chongo Kabange | 06/04/2022
FIs would face penalties over SGD 1 million for breaching TRM requirements. VASPs will have to be licensed to offer services in Singapore.
Data Privacy
Australian Banks Get More Time for Joint Account Data Sharing
By Editors | 05/04/2022
Non‑major Australian banks are being given an additional three months to commence sharing of joint account data.
Cybersecurity
Singapore CSA Developing Technical Reference on Cybersecurity
By Editors | 05/04/2022
The Technical Reference will provide guidance on the adoption of tiered cybersecurity measures to address the different risk profiles of enterprises.
Data Privacy
HKMA Issues Guidance on Customer Data Protection
By Editors | 04/04/2022
The guidance highlights the need for banks to put in place effective data governance frameworks and control measures to protect their customer data.
Structural Regulation
CBIRC Fines 21 Banks for Data Reporting Failures
By Editors | 04/04/2022
State-owned banks including BOC, CDB, ICBC and CCB were fined a total of USD 13.8 million for data quality and reporting issues.
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