A BSP task force will submit recommendations to the Monetary Board by mid-January 2022, which may include sanctions and penalties for the involved banks.
December 23, 2021The RBA's Jonathan Kearns said banks need to continue to address evolving risks, as they can morph into systemic risks with potentially dire consequences.
December 23, 2021BNM proposes governance, risk management and operational requirements to ensure safety, efficiency, reliability and confidence in payment systems.
December 17, 2021Cyber risk, pandemic, and geopolitical risk cited as the top threats to financial markets, but climate change and inflation are gaining pace.
December 9, 2021Under revised rules, market participants are required to and enhance cybersecurity control measures, vulnerability assessments, penetration testing and third-party access controls.
December 4, 2021APAC financial institutions face threats from ransomware attacks, supply chain risks, and the resurgence of trojans and DDOS attacks.
November 21, 2021Companies looking to IPO in Hong Kong would have to undergo a cybersecurity assessment if their data-processing activities may have an impact on national security.
November 16, 2021Central banks will cooperate on cross-border payments, fintech, and AML. Financial services regulators will cooperate on developing the Islamic finance industry.
November 12, 2021The Cyber Security Advisory Panel said security awareness and competency in the blockchain space are "not where they needed to be".
October 31, 2021Foreign telecoms companies will be allowed to set up joint ventures in China to provide VPN services to foreign businesses operating in Beijing.
October 28, 2021