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Data Privacy
EDPB Issues Opinion on Adequacy of Korea Data Protection Regime
By Editors | 07/10/2021
The EDPB says Korea’s data protection framework presents “numerous similarities” to Europe’s, but certain aspects may require “a closer look and clarification”.
Cybersecurity
Singapore Launches New Cybersecurity Strategy
By Mark Johnston | 06/10/2021
The strategy is underpinned by two foundational enablers: the development of a more vibrant cybersecurity ecosystem, and a more robust cyber workforce.
Data Privacy
Australia Finalises CDR Rule Changes to Increase Participation
By Sanday Chongo Kabange | 06/10/2021
The amendments allow accredited data recipients to sponsor other parties to become accredited or allow them to operate as representatives.
AI Risk & Governance
China to Regulate Algorithms Use, Punish Misuse
By Editors | 06/10/2021
The new guidance warns that companies will be held accountable for misusing algorithms. An algorithm registration system will be established.
Fraud, Scams & Cybercrime
US to Gather 30 Countries to Coordinate Ransomware Response
By Editors | 06/10/2021
The Counter-Ransomware Initiative is aimed at improving law enforcement collaboration and stemming the illicit use of cryptocurrency.
Fraud, Scams & Cybercrime
BSP Urges Passage of Bill to Tackle Rising Cybercrime
By Ranamita Chakraborty | 05/10/2021
The bill will strengthen the legal framework for financial consumer welfare and foster greater public awareness on cybersecurity, the BSP said.
Operational Risk
SFC Issues New Guidance on Remote Working Risks
By Manesh Samtani | 05/10/2021
The SFC describes incidents that occurred due to failures to split teams amid the pandemic, set up phone recording, and promptly isolate a server compromised by ransomware.
CBDCs
RBNZ Issues Consultation on Potential CBDC Issuance
By Ranamita Chakraborty | 04/10/2021
A CBDC would help ensure central bank money remains relevant in a digital future, while also providing an additional monetary policy tool, the RBNZ said.
Cybersecurity
BNM Launches New Cyber Threat Intelligence Platform
By Manesh Samtani | 03/10/2021
FinTIP leverages machine algorithms and human experts to correlate, normalise, enrich, and sanitise contributed data to produce “real-time actionable intelligence”.
Data Privacy
BOT Issues New Data Governance Guidelines for Banks
By Pongnut Thanaboonchai | 03/10/2021
The guidelines set out a data governance approach that encompasses five aspects, allowing for flexibility to cater to the specific nature of a bank’s operations.
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