Operational Risk

    News on frameworks, regulations, and major events related to risks arising from internal processes, systems failures, human errors, or external disruptions.

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    Operational Risk

    DBS Experiences Disruption Days After MAS Lifts Restrictions

    By Nithya Subramanian | 03/05/2024

    Customers of the Singapore bank experienced internet banking and payment services disruptions for more than two hours on Thursday.

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    Emerging Prudential Risks

    Australia Publishes Details on Reforms to Foreign Investment Regime

    By Sanday Chongo Kabange | 03/05/2024

    Greater scrutiny will apply to foreign investments in sensitive sectors. Passive investors with a strong track record would receive less scrutiny.

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    Operational Risk

    RBI Updates Expectations on Operational Risk Management

    By Ajoy K Das | 03/05/2024

    The updated guidance note better aligns with the BCBS principles and extends applicability to regulated entities beyond just banks.

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    Tokenisation

    Capital Markets Regulators Committed to Innovating With Tokenisation

    By Nithya Subramanian | 02/05/2024

    The UK FCA’s Rupert Harrison and Thai SEC’s Kris Tontipiromya discussed their tokenisation work at the recent Digital Assets Asia 2024.

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    Operational Risk

    MAS Ends Six-Month Pause on Non-Essential Activities at DBS

    By Nithya Subramanian | 02/05/2024

    MAS will retain the additional capital requirement and “closely monitor” DBS Bank’s progress on the remaining deliverables.

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    Anti-Money Laundering

    Korea FSS Issues “Model” Standards for Credit Finance Companies

    By Editors | 01/05/2024

    The standards call for better management of executives and employees to prevent money laundering, conflicts of interest, and misuse or embezzlement of loan funds.

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    Emerging Prudential Risks

    China: ICBC Establishes Armed Forces Department

    By Editors | 28/04/2024

    The department is meant to serve as a reserve force to respond to natural disasters, help maintain “social order”, and provide support during wartime.

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    Capital Adequacy

    Asia-Pacific’s Long March Towards the Basel Endgame

    By Blake Evans-Pritchard | 26/04/2024

    Those who think we’ve heard the last about the framework’s implementation should think again.

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    Cybersecurity

    RBI Imposes Business Restrictions on Kotak Mahindra Bank

    By Ajoy K Das | 25/04/2024

    The bank is prohibited from onboarding new customers and issuing fresh credit cards due to long-standing IT risk management deficiencies.

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    Cybersecurity

    BOJ, FSA Publish Results from Cybersecurity Self-Assessments

    By Mark Johnston | 25/04/2024

    The results reveal that challenges remain in securing and training cybersecurity personnel and managing third-party risks.

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