"Near real-time" monitoring systems must be implemented that can detect and immediately freeze suspicious transactions, among other measures.
March 10, 2023BNM encourages the use of e-KYC solutions that leverage AI, machine learning or other forms of predictive algorithms to ensure accurate identification and verification.
February 24, 2023The FSS told Shinhan Bank to strengthen its fraud detection system and Woori Bank to improve its post-sale management of fund products.
December 23, 2022More than 80 percent of banks have already implemented a 24/7 dedicated complaint hotline for customers to report incidents or suspicions of fraud.
December 16, 2022LexisNexis® Risk Solutions, which was recognised for best anti-fraud solution at Regulation Asia's 5th annual awards ceremony.
November 22, 2022Accenture's Irene Liu and team discuss the use of NLP technology within compliance functions, as well as the adoption challenges and how to address them.
October 27, 2022The software will streamline and automate regulatory supervision, reporting and compliance assessment of banks’ cybersecurity risk management.
September 6, 2022Vice chairman Kim So-young said the FSC will remove barriers that prevent financial services firms from making use of big data and AI technology effectively.
August 9, 2022A review of OCBC's anti-fraud systems and procedures concluded that the bank should take a more "integrated approach" to combat fraud and scams.
April 26, 2022Under new relations, Philippine banks and NBFIs are required to implement automated and real-time fraud monitoring and detection systems by end-December.
March 31, 2022