Operational Risk

Operational Risk

APRA Proposes New Operational Risk Management Standard

By Editors | 29/07/2022

APRA proposes to introduce a new cross-industry prudential standard on operational risk management, which also covers third-party service providers.

Data Privacy

APRA to Start Publishing ‘Enhanced’ Superannuation Data in September

By Editors | 26/07/2022

Quarterly publications will start in September and annual publications in early 2023, comprising new and expanded data on an industry, fund and product basis.

Operational Risk

HKMA Gives Banks 18m to Enhance Operational Risk Management

By Manesh Samtani | 26/07/2022

Banks are expected to implement the revised SPM module on operational risk management by 25 January 2024.

Payments & Settlements

Central Bank Liquidity Bridges Lower Costs of Cross-border Payments

By Editors | 24/07/2022

CPMI says central bank liquidity bridges can help reduce funding costs, FX costs, credit risks and operational risks for payment system participants.

Credit Risk

HKMA Extends Repayment Deferments for Trade Facilities

By Editors | 21/07/2022

Significant uncertainty lies ahead for import and export businesses, the HKMA said. The scheme will fully expire at the end of October.

Operational Risk

APRA Finalises New Standards on Super Fund Investment Governance

By Editors | 21/07/2022

The new standard will commence on 1 January 2023. APRA will consult on additional guidance later this year, also covering ESG risks.

Cloud & Infrastructure

HKMA Issues Regtech Guide on Third-Party Risk Management

By Sanday Chongo Kabange | 19/07/2022

The practice guide is meant to help banks plan the implementation of regtech solutions to address the risks associated with third-party relationships.

Credit Risk

CBIRC Directs Banks, Insurers to Support Manufacturers

By Darien Choong | 15/07/2022

The CBIRC says banks should “actively and rationally cede profits to manufacturing sector enterprises” while also strengthening risk controls.

Fraud, Scams & Cybercrime

Crypto Firm Celsius Network Accused of Running Ponzi Scheme

By Editors | 12/07/2022

A lawsuit filed by a former Celsius money manager says the company mismanaged customer funds, failed to perform basic internal auditing, and manipulated crypto-assets.