AI, Technology & Data

Cybersecurity

RBA Warns of ‘Dire Consequences’ from Cyber and Climate Risks

By Mark Johnston | 23/12/2021

The RBA’s Jonathan Kearns said banks need to continue to address evolving risks, as they can morph into systemic risks with potentially dire consequences.

AI Risk & Governance

SEBI Forms New Advisory Committee on Technology

By Editors | 22/12/2021

The new committee will issue recommendations on existing technology projects and propose new suptech and regtech tools to improve SEBI’s capabilities.

Cryptocurrency

Australian Regulators Endorse Government Plans for Crypto Sector

By Mark Johnston | 22/12/2021

Australia’s Council of Financial Regulators have endorsed the Treasury’s plan to form a new working group on the regulation of the crypto-ecosystem.

Payments & Settlements

Singapore, Shanghai Bolster Collaboration in Finance, Innovation

By Darien Choong | 22/12/2021

A public private sector workgroup was established by MAS and the Shanghai Municipal Financial Regulatory Bureau to deepen bilateral financial cooperation and connectivity.

Payments & Settlements

HKMA Directs Banks to Use Name Matching in Fund Transfers

By Editors | 21/12/2021

Banks are directed to perform name matching for fund transfers over HKD 10,000 to reduce the chance of error inputs by customers.

Conduct, Culture & Accountability

CBIRC Details Consumer Rights Infringements by Huaxia Bank

By Darien Choong | 21/12/2021

The bank used credit card contracts to “force” customers to accept cross-selling, which infringes on consumers’ right to fair transactions, the CBIRC said.

Data Privacy

HKMA Sets Targets for Launch of New Credit Reference Platform

By Manesh Samtani | 19/12/2021

The new platform will serve as an interface for credit providers and CRAs to share credit data, as Hong Kong prepares to introduce additional CRAs in the city.

Fraud, Scams & Cybercrime

BSP to Ensure Hacked BDO Accounts Are Reimbursed

By Mark Johnston | 15/12/2021

Some 700 customers of BDO Unibank have suffered losses due to a hack. The BSP said it will ensure remedial measures are undertaken.

Cloud & Infrastructure

SFC Set to Launch Digital Licensing Platform on WINGS

By Editors | 15/12/2021

New electronic licensing forms for licence applications, annual returns, notifications and regulatory filings are to be submitted through WINGS from 3 January.