MAS is using artificial intelligence tools for risk detection and market surveillance, while also working to strengthen protections against cyber risk, data breaches and AI-based discrimination.
May 16, 2019OCBC was able to recover $205,000 from a Malaysian bank after a transaction was flagged by its fraud surveillance unit as not fitting the client's usual patterns.
April 15, 2019Asian banks must accept they are more susceptible as the initial target for fraudulent payments, as well as the receivers, with over 83 per cent of cases based in the region.
April 12, 2019Union Bank of India, Bank of India and Bank of Maharashtra are each fined 10 million rupees.
September 10, 2018An information sharing network between 64 regional banks aimed at AML/CFT efforts is part of a larger legal and regulatory push in the country against money laundering in preparation for an FATF inspection.
August 16, 2018