Cyber security
Cyber stress tests reveal risks in Singaporean firms
Insurance firms report potential losses as high as $3.4 billion, while banks’ costs could hit 65% of quarterly profits
Fed points to non-financial risks at large US banks
US-based G-Sibs show weaknesses in AML, internal audit and IT risk, Fed says
FSI paper details ‘red team testing’
Paper sets out how the cyber-security tests are used in different jurisdictions
Policy-makers should update cyber regulations – Bank of Canada official
Greater collaboration and information-sharing is required to strengthen reliance, Filipe Dinis says
Central banks turn to Instagram to reach younger generations
The audiovisual social media network is helping some central banks offer financial education and other campaigns for millennials and Gen Zs
Central banks increasingly embracing the cloud
Forms of cloud computing are becoming more prevalent, despite central banks’ caution
Bank of Canada picks MindBridge for AI fraud detection trial
Trial under central bank’s ‘Pivot’ scheme will test artificial intelligence for payment fraud detection
Cyber attacks on financial firms rise by 37% – survey
Eighty-eight per cent of participants report domain name system attacks over the last year
BoE finds room for improvement in cyber attack exercise
Participants have made changes since previous exercise but some issues remain, central bank says
UK regulator seeks ways to ‘open up’ payments data
PSR says “synthetic data” could be used in trials to protect confidentiality
The winners of the 2019 Fintech and Regtech Global Awards
Prizes awarded for outstanding work at the cutting edge of financial technology
Central banks responding to pace of change in a hyperconnected world
Daily processes large and small have seen a drastic shift of emphasis towards increased automation as evolving technology has permeated every aspect of people’s lives. Lars Schröder, senior engagement manager at SkySparc, explores the impact of…
Fintech and risk: what does the future hold?
Five key areas where regulators need to make judgements on fintech risks
Central banks face loss of independence – Central Banking survey
A new survey of Central Banking’s Editorial Advisory Board points to central banks facing existential challenges with little change in their frameworks or toolkits
ECB website stays down after hacking attack
Hackers reportedly put illegal “phishing” software on BIRD website, which is operated by third party
MAS issues ‘cyber hygiene’ rules; eases sandbox barriers
Regulator aims to prevent cyber crime through basic measures while offering some fintechs access to its sandbox within 21 days
RBNZ publishes new FMI regulation bill
Proposal would enhance central bank’s ability to hold market participants to binding standards
Bank of Canada collaborates with private sector on cyber defence
New partnership with private sector bridges gaps in cyber resilience co-ordination, Poloz says
BoE’s Kashyap warns banks vulnerable to state-sponsored cyber attacks
FPC member says he is not sure banks are capable of defending themselves
Regulators prepare response to Facebook’s Libra
Plans under way for G7 working group, as crypto asset plans draw criticism in Europe and US
RBNZ highlights cash advantages as usage declines
New Zealand central bank aims to protect sectors of society more reliant on cash
UK and Singapore to collaborate on cyber security
BoE, FCA and MAS say they will investigate ways to share information and potentially staff
BoE unveils strategic priorities for 2019
Annual report says focus will remain on Brexit, but resilience, fintech and an overhaul of the BoE’s own operations are also priorities
Bank of Israel to collaborate with national body on cyber defence
Memorandum with National Cyber Directorate sets stage for closer co-operation on bank security