China's central bank releases draft rules on data security management, applicable to both domestic as well as foreign-funded financial institutions.
July 26, 2023Regulated entities have one month to provide SEBI with details of the cloud services they have deployed and 12 months to ensure full compliance with the new framework.
March 9, 2023ASIFMA says the data localisation requirements in SEBI's new cloud adoption framework will expose FIs to greater cybersecurity risks while negatively impacting global operations.
December 20, 2022The agreement promotes cooperation on cross-border data flows, fintech, cybersecurity, and mutual recognition of digital identity systems.
June 15, 2022MAS and SIF will work towards enabling data flows (including personal information) within financial groups, supported by free choice of location for data storage and processing.
May 25, 2022Restrictions prohibiting Diners Club from onboarding new domestic customers have been lifted. Similar restrictions are still in place for Amex and Mastercard.
November 14, 2021The FATF says inconsistent implementation of AML/CFT requirements increases cost, reduces speed, limits access and reduces transparency in cross-border payments.
October 23, 2021Following meetings with foreign banks, the RBI will allow certain static data to be stored in offshore locations for AML and sanctions screening purposes.
October 14, 2021The decision is reportedly based on data security concerns following recent breaches at payment firms and non-compliance by global payment giants with India's data localisation rules.
September 2, 2021Visa is the only foreign card network that complies with requirements for financial data on Indian customers to be stored locally, the RBI says.
August 19, 2021