Fintech
Swift users attacked again by new malware – research
Cyber security firm finds Swift users are being attacked by a second hacking group, using malware that manipulates logs and messages, removing them from client systems
G7 sets out cyber security ‘building blocks’
Eight “elements” published to guide the financial sector when implementing cyber security provisions; information sharing and contingency planning are important
HKMA to launch cyber security training framework in December
New technology has made cyber security more important than ever, says Chan; HKMA to widen pool of talent as part of new initiative to be rolled out at the end of the year
Central banks set up task force to fortify cyber security
Central banks to review current cyber security practices; Cœuré stresses need for “adequate checks” at each stage of the payment process
Central banks are not fintech accelerators – Bundesbank official
German payments authority says fintech should receive equal regulatory treatment to banks
BoE’s Cleland discusses extending digital central bank money to the public
Costs and benefits need to be better understood, says Cleland, but the Bank of England is investigating all avenues
Swift threatens to report users who fail to update software
Cyber security threat is "persistent, adaptive and sophisticated – and it is here to stay”, Swift says; customers have until November 19 to install updates
UBS teams up with other major banks in blockchain venture
‘Utility settlement coin’ to be backed by cash held at central banks; team of experts will keep an “open dialogue” with the banks and regulators throughout the testing process
MAS unveils ‘Looking Glass’ fintech lab
New facility in MAS building was built as a space for fintech firms to test ideas with each other and the central bank; facility will also serve as venue for training and networking
Sarb governor stresses need for cooperative approach against cyber risk
New legislation will give central bank power over financial stability; now is the time for financial industry to become “proactive” in fostering “healthier” cyber culture, says Kganyago
Swift's Gottfried Leibbrandt on restoring trust in global payments after $81m Bangladesh fraud
Swift CEO Gottfried Leibbrandt speaks to Christopher Jeffery about how to restore trust in the international payments architecture following the $81 million cyber theft from Bangladesh Bank
Philippines central bank fines RCBC over Bangladesh heist
Rizal Commercial Banking Corporation ordered to pay one billion pesos, after stolen funds from Bangladesh bank were transferred to four accounts held at the institution
First meeting of MAS fintech panel was ‘fruitful’ – Menon
Advisory panel to look at how Singapore can harness new tech and “enhance” fintech provision to financial services
Manpower a key tool in fending off cyber threats – RBI’s Gandhi
Skillset for security is evolving, says RBI deputy governor Gandhi, as he draws attention to new cyber security framework now in place for banks
Experts question CPMI-Iosco cyber guidance
Speedy settlement and resumption of services after cyber attack could be counterproductive
Bank of Russia centre records over 20 ‘major’ attacks on payment systems
Attackers attempted to steal 2.87 billion rubles from Russian bank payment systems, cyber-security report reveals; central bank seeks to amend legislation to allow the suspension of suspicious transactions
Indian central bank sets up fintech working group
Inter-agency working group will report on financial technology within six months of first meeting to enable Indian authorities to review regulation of sector
MAS official stresses role of technology in combating ML/TF risks
Chua Kim Leng singles out four areas of focus for insurers looking to combat illicit financing activities; one is leveraging technology, such as automated name screening and data analytics
BoE launches fintech collaboration
Bank of England is working with fintech firms on innovations to support central banking, including its own distributed ledger; non-bank payment providers to gain direct access to RTGS system
Promoting Chinese growth through technology
Ma Weihua, executive vice-president of the IFF and president of the National Fund for Technology Transfer and Commercialization, explains why the time is ripe for innovation
MAS prepares ‘sandbox’ for fintech testing
Aim is to test potentially unstable innovations in an environment where consumers and financial stability will largely be shielded from the consequences of failure
Central bankers recognise technology as both friend and foe
Speakers at BIS conference see technology reshaping markets and regulation for better and worse, as Andrew Lo argues solution is to make the technology cope better with human “foibles”
Cyber security tops agenda as Bangladesh heist report completed
Asian FSB members focus on improved cyber security, as committee investigating Bangladesh Bank heist submits its final report, with hints insiders at the central bank could be implicated