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Cloud & Infrastructure
Korea FSS Includes NFT, Metaverse Monitoring in Annual Work Plan
By Sanday Chongo Kabange | 20/02/2022
The FSS said it will strengthen its supervision of “new trading assets such as NFTs” and “prepare countermeasures” if necessary to protect consumers against damage.
Fraud, Scams & Cybercrime
Singapore Continues Work to Bolster Digital Banking Security
By Darien Choong | 18/02/2022
New measures include expanding the use of biometric technology, strengthening fraud surveillance and detection algorithms, and enabling customers to trigger account freezes.
Cybersecurity
HKCERT Warns of Information Security Risks in 2022
By Editors | 18/02/2022
NFT and metaverse-related risks, and crypto account hacks and thefts, were cited as top information security risks for the first time.
Cryptocurrency
FSB Updates G20 on 2022 Priorities, Including Work on Crypto-assets
By Manesh Samtani | 17/02/2022
The FSB has started to examine regulatory and supervisory issues and approaches to address risks stemming from unbacked crypto-assets.
Data Privacy
Applications Open for ‘Data Specialising Institutions’ Designation: FSS
By Sanday Chongo Kabange | 16/02/2022
Data specialising institutions are allowed to converge anonymised and pseudonymised data originating from different businesses for analytics purposes.
Structural Regulation
China Empowers Auditors to Obtain Financial Information from FIs
By Editors | 16/02/2022
Audit firms can inquire with FIs about the accounts and deposits of entities and individuals under audit. FIs are required to provide assistance.
Data Privacy
Australia Commences Review of Consumer Data Right
By Editors | 16/02/2022
The review will explore the extent to which implementation of the CDR drives value for consumers, increases competition, and drives innovation in data services.
Anti-Money Laundering
MAS Tables Bill to Obtain Enhanced Regulatory Powers
By Sanday Chongo Kabange | 15/02/2022
The Financial Services and Markets Bill will give MAS enhanced regulatory powers to address misconduct, crypto asset and technology risks.
Anti-Money Laundering
In Conversation With Siddhant Sahai, Deutsche Bank
By Bradley Maclean | 15/02/2022
Siddhant Sahai says a greater focus on inter-bank relationship monitoring and timely sharing of information are needed to truly address financial crime risks.
Cybersecurity
Taiwan FSC Urges ListCos, Brokers to Bolster Cyber Defences
By Editors | 14/02/2022
The regulator is encouraging listed companies and securities firms to share information security information to achieve greater effectiveness in their cyber defences.
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