AI, Technology & Data

AI Risk & Governance

IOSCO Publishes Final Guidance on Supervising AI/Machine Learning

By Editors | 08/09/2021

IOSCO members are encouraged to consider six measures carefully in the context of their legal and regulatory frameworks.

Cybersecurity

Singapore Minister Urges FIs to Pursue International Postings

By Manesh Samtani | 07/09/2021

MAS will extend the funding duration from 3 to 6 months for the overseas component of its Finance Associate Management Scheme starting next year.

AI Risk & Governance

Singapore Launches Asian Institute of Digital Finance

By Manesh Samtani | 05/09/2021

The research institute has led efforts to develop a federated learning platform for SME credit analytics that is expected to launch by year-end.

Data Privacy

BOT Directs Banks to Prepare for New Data Protection Law

By Pongnut Thanaboonchai | 03/09/2021

The Thai Bankers’ Association has issued guidelines for banks on handling personal data protection in compliance with the Personal Data Protection Act.

Operational Risk

Mizuho Unable to Identify Cause of System Failure

By Editors | 02/09/2021

In a report to the FSA, Mizuho says it will revamp its system restoration procedures, review its customer response measures, and reassess its core banking system.

Data Privacy

RBI Halts Plan to Allow New Umbrella Entities in Retail Payments

By Editors | 01/09/2021

The decision is reportedly based on data security concerns following recent breaches at payment firms and non-compliance by global payment giants with India’s data localisation rules.

Data Privacy

CSRC Considers Barring Data-Heavy Firms from Listing Overseas

By Sanday Chongo Kabange | 30/08/2021

The CSRC is drafting rules that would prohibit Internet firms holding large amounts of user-related data from listing overseas, targeting firms with VIE structures.

Data Privacy

ABS Offers Standardised Approach to Bank Data Sharing

By Manesh Samtani | 30/08/2021

A new Data Sharing Handbook provides a framework for banks and non-bank ecosystem partners to share data in a safe, secure and responsible manner.

Payments & Settlements

IMF Spotlights Legal Challenges of Fintech for Central Banks

By Sanday Chongo Kabange | 30/08/2021

A new IMF paper discusses the impacts fintech will have on currency issuance, monetary policy implementation, and payment system soundness, among other functions of a central bank.