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Structural Regulation
Japan FSA to Ease Administrative Procedures for Foreign Entrants
By Editors | 30/08/2020
The FSA will soon release financial administration guidelines setting out measures that may make it easier for foreign firms to set up in Japan.
Data Privacy
FSC Taiwan Unveils Three-year Fintech Development Roadmap
By Editors | 30/08/2020
The roadmap includes a new fintech examination and licensing system, to be introduced by 2022, and consent-based data sharing as part of an open banking push.
Fraud, Scams & Cybercrime
US Agencies Warn of North Korean ATM Cash-out Threat
By Manesh Samtani | 30/08/2020
The hacking team uses various techniques to gain access to banks’ SWIFT terminals to enable wire fraud or their payment switch application servers to enable ATM cash-outs.
Cybersecurity
DDoS Attacks Force Fourth Day of Market Closure at NZX
By Manesh Samtani | 27/08/2020
The hacker group said to be responsible has reportedly also carried out attacks against MoneyGram, YesBank India, Worldpay, PayPal, Braintree and Venmo this week.
Structural Regulation
ASIC Issues Guidance on Use of Enhanced Regulatory Sandbox
By Manesh Samtani | 25/08/2020
The enhanced regulatory sandbox will commence on 1 September, following legislative amendments passed in February and subsequent regulations made in May.
Cloud & Infrastructure
PBOC to Construct New Infrastructure in Big Data Hub
By Lucy Zhang | 24/08/2020
The new high-security data centre will be built in Guian New Area and become a key component of the PBOC’s new financial infrastructure.
Cloud & Infrastructure
Malaysia, Indonesia Regulators Sign Fintech Cooperation Pact
By Sanday Chongo Kabange | 24/08/2020
The agreement aims to facilitate information sharing, provide joint innovation opportunities, and facilitate cross-border referrals of fintech businesses.
Cybersecurity
ASIC Takes Former ANZ Unit to Court Over Cybersecurity Failures
By Sanday Chongo Kabange | 24/08/2020
ASIC is seeking orders requiring RI Advice Group to pay a civil penalty and ensure it implements systems to adequately manage cyber risk.
AI Risk & Governance
Hong Kong AoF Publishes Report on AI Adoption in Banking
By Editors | 23/08/2020
The report provides insights about the risk management frameworks and overarching supervisory principles banks use when adopting artificial intelligence.
Cloud & Infrastructure
ISO Sets Standard for Embedding LEIs in Digital Certificates
By Editors | 22/08/2020
Simplified LEI integration paves the way for all digital certificates to be linked by a universal identifier and reduces the resource burden on certificate issuers.
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