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Data Privacy
CBIRC Fines Two Major Banks for Data Privacy Breaches
By Editors | 09/08/2020
China Merchants Bank and Bank of Communications were fined for failing to protect the personal data of credit card customers.
Data Privacy
FSC Designates Korea’s First ‘Data Specialising Institutions’
By Editors | 09/08/2020
Korea Credit Information Services and the Financial Security Institute will be allowed to perform convergence of pseudonymised data originating from different financial businesses.
Cybersecurity
HKMA, IA Issue Guidance on Video Distribution of Insurance Products
By Editors | 07/08/2020
Insurers and intermediaries such as banks have to apply to enter the InsurTech Sandbox to test the use of video conferencing to distribute long term insurance policies.
Cybersecurity
Australia Unveils Cyber Security Strategy for 2020
By Editors | 06/08/2020
Law enforcement will receive funding to bolster its ability to go after cyber criminals, complemented by the use of AUSTRAC’s financial intelligence expertise to target their profits.
Operational Risk
BCBS Proposes Principles to Promote Operational Resilience at Banks
By Manesh Samtani | 06/08/2020
The principles aim to increase bank resilience to operational risk shocks, such as those arising from pandemics, cyber incidents, technology failures and natural disasters.
Cloud & Infrastructure
MAS to Set Up Regional Digital Finance Institute
By Sanday Chongo Kabange | 06/08/2020
The Asia Institute of Digital Finance will be jointly operated by MAS, the National Research Foundation and the National University of Singapore.
Trading & Investment
APAC Firms Lag in IBOR Transition Preparation – Report
By Manesh Samtani | 05/08/2020
Apart from G-SIBs operation in the region, APAC firms are not prepared for the transition away from IBORs, according to a new report from Sia Partners.
Structural Regulation
Regulatory Fragmentation in Markets Undermines Economic Recovery
By Manesh Samtani | 05/08/2020
Fragmentation introduces distortions and inefficiencies, undermining financing when it is needed to facilitate the recovery from Covid-19, ASIFMA says in a new report.
Operational Risk
UOB Launches Training Programme to Address Transformation in Finance
By Editors | 05/08/2020
The UOB Finance Academy will allow participants to deepen their knowledge in areas such as risk management, regulation, liquidity management and data analytics.
Fraud, Scams & Cybercrime
Interpol Reveals ‘Alarming Rate’ of Cyberattacks During Covid-19
By Editors | 04/08/2020
Interpol warns that a further increase in cybercrime is highly likely in the near future, citing vulnerabilities related to working from home.
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