The Hong Kong Monetary Authority is informing authorized institutions that on Feb. 29, 2012, the Banking (Amendment) Ordinance 2012 bill was passed by the Legislative Council.
The European Network and Information Security Agency published a new report on app-store security where it advocates for a baseline set of "five lines of defense" against malware.
FinCEN has issued an advisory to U.S. financial institutions to take reasonable risk-based steps with respect to the potential increased movement of assets that may be related to the current unrest in Syria.
The Final FFIEC Guidance has been issued and its main intent is to reinforce the 2005 Guidance's risk management framework and update the Agencies' expectations regarding customer authentication, layered security, or other controls in the increasingly hostile online environment.
The FDIC, in conjunction with the other federal banking agencies and the State Liaison Committee of the Federal Financial Institutions Examination Council, has issued a statement regarding a revision of the Bank Secrecy Act regulations that took effect March 1.
The Financial Crimes Enforcement Network is issuing this advisory to inform banks and other financial institutions operating in the United States of the risks associated with jurisdictions identified by the Financial Action Task Force (FATF) on Feb. 25, as having strategic deficiencies in their anti-money laundering...
The Financial Crimes Enforcement Network is issuing this advisory to inform banks and other financial institutions operating in the United States of the risks associated with jurisdictions identified by the Financial Action Task Force (FATF) on Feb. 25 as having deficiencies in their anti-money laundering and...
The Monetary Authority of Singapore (MAS) has issued a consultation paper that sets out proposed enhancements to the MAS Corporate Governance (CG) Framework which comprises the Regulations and Guidelines for locally-incorporated banks, financial holding companies and direct insurers.
This Guidance Note issued by the Hong Kong Monetary Authority intends to educate the senior management in implementing sound practices in managing the security risks in their transactional electronic banking.
This document is a compilation of the June 2004 Basel II Framework, the elements of the 1988 Accord that were not revised during the Basel II process, the 1996 Amendment to the Capital Accord to Incorporate Market Risks, and the 2005 paper on the Application of Basel II to Trading Activities and the Treatment of...
Banks and other financial institutions may be unwittingly used as intermediaries for the transfer or deposit of funds derived from criminal activity. Criminals and their associates use the financial system to make payments and transfers of funds from one account to another; to hide the source and beneficial ownership...
The Basel Committee released the EBG's Report on risk management and supervisory issues arising from e-banking developments in October 2000. This Report inventoried and assessed the major risks associated with e-banking, namely strategic risk, reputational risk, operational risk (including security and legal risks)7,...
This paper outlines four essential elements necessary for a sound effective know-your-customer (KYC) program. These elements are: customer acceptance policy; customer identification; on-going monitoring of higher risk accounts; and risk management. To be truly effective, these elements should be adopted on a...
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