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Payments & Settlements
Mizuho Bank Reports 9th System Failure for 2021
By Editors | 04/01/2022
The failure was attributable to an error in Mizuho’s system settings for transactions occurring at night and on holidays, impacting ATM and online banking operations.
Fraud, Scams & Cybercrime
Philippine DOJ Signs MoU with BAP on Cybercrime Prevention
By Mark Johnston | 03/01/2022
The MoU aims to formalise the establishment of a collective, coordinated, and strategic cyber response within the banking industry.
Cybersecurity
BNM Revises Regulatory Framework for Money Services Businesses
By Mark Johnston | 03/01/2022
The draft rules cover governance arrangements, operational requirements, risk management and internal controls, and IT requirements.
Data Privacy
Taiwan FSC Issues New Data Sharing Guidelines for FIs
By Editors | 02/01/2022
Data may be shared between FIs, subject to consent, if it can enhance customer convenience, improve operations, or facilitate cooperative business arrangements or partnerships.
Emerging Prudential Risks
FSC Korea Sets Out Work Programme for 2022
By Mark Johnston | 29/12/2021
The work plan focuses on measures to maintain financial stability, reduce debt risks, promote financial innovation, and enhance the FSC’s rules on network security.
Cybersecurity
Taiwan FSC Raises Cybersecurity Expectations in Capital Market
By Darien Choong | 28/12/2021
Securities and futures companies have to disclose more information on cyber incidents. Listed companies have to strengthen cybersecurity management.
Cybersecurity
CBSL Issues Technology Risk Management Rules for Banks
By Duruthu E Chandrasekera | 28/12/2021
The rules require banks to establish an Information Security Committee, chaired by the CEO, to assess the strategic and operational management of the technology risk.
Payments & Settlements
Bank Indonesia Launches New Fast Payments System, BI-Fast
By Sanday Chongo Kabange | 24/12/2021
BI-Fast lowers the interbank transfer fee, set at IDR 2,500 (USD 0.18) per transaction, down from the usual IDR 6,500 fee for interbank transfers. 21 banks have so far enrolled on BI-Fast.
Cloud & Infrastructure
HKMA Asks Banks for ‘Active Participation’ in CDI Initiative
By Editors | 23/12/2021
The HKMA is seeking to link the new CDI to the Commercial Credit Rating Agency and Companies Registry to enhance risk management in the banking industry.
Structural Regulation
Taiwan Proposes New Framework for Authorising Internet-only Insurers
By Sanday Chongo Kabange | 23/12/2021
Sponsors of internet-only insurers can include financial institutions and fintech companies. Applications are expected to open in August 2022.
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