The weaknesses related to a “failure to design and maintain an effective risk assessment process to identify and analyse the risk of material misstatements”.
March 15, 2023Amended regulations require e-money issuers to meet higher liquidity and capital requirements, to ensure the industry’s resilience.
February 15, 2023A key objective of the update is to support greater use of technology to generate targeted alerts and more actionable intelligence, the HKMA said.
February 10, 2023Risk management practices and controls used by fund managers reduce overall risk but "pockets of relatively higher risk" still exist.
January 23, 2023The FSA's Daisuke Mamba and Hiroshi Ozaki discuss the regulator's approach to its AML/CFT inspections and recent work to develop shared AML systems for the industry.
January 10, 2023KYC documents have to date not been mandatory for non-life or general insurance policies at the time of purchase.
January 8, 2023Attacks have proliferated due to the increased use of technology, continued adoption of cryptocurrencies, and the emergence of Ransomware-as-a-Service models.
December 23, 2022A new Climate and Environmental Risk Questionnaire has been developed to help SMEs with sustainability reporting.
December 21, 2022The guidance focuses on risk assessment, anti-DDoS control architecture, third party governance, and incident response and escalation.
November 29, 2022Bank of Singapore offered the DFSA an enforceable undertaking agreeing to remediate deficiencies and engage an external compliance expert for verification.
November 11, 2022