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KYC & CDD
RBI Confirms ID-Bank Account Link Compulsory, to Create Public Credit Registry
By Editors | 25/10/2017
Central bank says Aadhar cards must be linked to bank account; proposed credit registry to be open to ‘all stakeholders’.
AI Risk & Governance
Bank of Japan Investigating Use of Supervisory Technology
By Editors | 23/10/2017
Central bank suggests financial market supervisors use of technology is one of the highest priorities in global regulation.
Cybersecurity
Taiwan FSC to Establish Platform for Information Security
By Editors | 19/10/2017
Order issued after reports that hackers breached bank’s online transaction system and stole $60mn which was distributed via SWIFT.
Structural Regulation
New Zealand Exempts Personalised Robo-advice from Licensing Regime
By Editors | 19/10/2017
Providers still need to be pre-approved to offer financial advice; new rules formalising licensing of robo-advice per se expected in 2019.
AI Risk & Governance
The Growing Human Limitations of Financial AI
By Peter Guy | 16/10/2017
Artificial intelligence might not harm humans, but humans can go to jail for the actions of bad robots.
Structural Regulation
Australian Banks Want Fintechs to Pay for ‘Open Banking’
By Samuel Riding | 11/10/2017
Biggest lenders continue to frustrate efforts by authorities to increase competition and throw open door to banking disruptors.
Market Data & Technology
Communication Breakdown
By Peter Guy | 09/10/2017
WhatsApp et al have widened a grey area in compliance rival financial messaging services are trying to exploit.
Cybersecurity
Thai Banks Join up to Improve Cybersecurity
By Editors | 09/10/2017
Fifteen banks in Thailand have set up a group to tackle information technology stability and security and prepare for cyber-attacks.
Operational Risk
Malaysia Revising Prudential Framework for Outsourcing by Financial Institutions
By Editors | 04/10/2017
Banks will be urged to enhance due diligence and do more to protect data confidentiality as BNM cites risks from outsourcing to shared services.
Cybersecurity
Philippines Set to Introduce Tighter Cybersecurity Requirements for Banks
By Editors | 04/10/2017
Measures will include enhanced risk management and governance requirements as well as increased use of cloud technology.
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