Content by Suparna Goswami

Insights APAC: Top Cybersecurity Developments in November

Jayant Chakravarti , Suparna Goswami  •  December 4, 2024

In this episode of Information Security Media Group's monthly series, "Insights APAC," ISMG editors discuss the top cybersecurity developments from November, including Australia's social media ban, Chinese data protection audits and the latest fine against Meta by India.

Insights APAC: Cyberpsychology and the Rising Quantum Threat

Jayant Chakravarti , Suparna Goswami  •  December 2, 2024

In the third episode of ISMG's "APAC Insights" series, Equicom Savings Bank's Rei Nikolai Magnaye and former Indian Navy cybersecurity expert Rishi Das explain why cyberpsychology matters and how quantum computing advances could threaten enterprise networks.

Privacy Vendor Market Moves From Point to Platform Solutions

Suparna Goswami  •  November 29, 2024

The privacy vendor market in India is evolving rapidly, as many vendors move from offering point solutions to embracing more integrated, platform solutions that can handle a broader range of privacy requirements, said Anirban Sengupta, partner, risk consulting practice with PwC.

China Privacy Law: Data Management Audits Are Coming in 2025

Suparna Goswami  •  November 19, 2024

In 2025, companies in China will face additional obligations when data protection audits become mandatory, setting a new benchmark for compliance with privacy laws. China is also expected to introduce regulations on non-personal data to establish a framework for ethical and secure data usage.

FIs Face New Liabilities From CFPB's Rule on Open Banking

Suparna Goswami  •  November 18, 2024

The Consumer Financial Protection Bureau's open banking ruling shifts liability burdens onto banks, amplifying their responsibilities for securing data shared with third-party fintechs. John Horn at Datos Insights explains the potential for third-party breaches.

How UK is Getting Banks and Telecoms to Fight APP Scams

Suparna Goswami  •  November 15, 2024

Using predictive models to detect fraud early, the GSM Association and UK Finance have teamed up to combat APP fraud. Launched earlier this month, Scam Signal brings together banks, telecom providers and regulators to create standardized tools for proactive fraud prevention.

Indian Firms Struggle to Find a Budget for DPDP Act Prep

Suparna Goswami  •  November 11, 2024

Organizations in India are ramping up efforts to comply with the new Digital Personal Data Protection Act. But without the law being officially enforced, budget and hiring constraints make it challenging to allocate sufficient resources, said a panel of experts.

Assessing Banking Product Risks to Improve KYC Programs

Suparna Goswami  •  November 7, 2024

KYC protocols traditionally focus on account-level verification, but examining KYC at the product level can help banks assess risk more accurately. Asking targeted questions based on product risk enables institutions to detect potential financial crimes, said Gabriella Bussien, CEO of Trapets.

Insights APAC: Rising Fraud and Cyberattacks on AI Systems

Suparna Goswami  •  November 6, 2024

In the second episode of ISMG's "APAC Insights" series, ISMG editors analyze cybersecurity threats to artificial intelligence systems and the region's worsening fraud landscape with Kaushik Sinha of Fujitsu Research and Applied Quantum's Kawin Boonyapredee.

Pros and Cons of Anti-Scam Rules in UK, Australia, Singapore

Suparna Goswami  •  November 5, 2024

Governments globally are intensifying anti-scam measures, introducing new guidelines to banks, telecom providers and other key sectors to bolster security controls and mitigate fraud risks for consumers and businesses. Some new frameworks threaten to levy stiff penalties for non-compliance.

Insights APAC: Star Health Breach, Fraud and AML Regulations

Jayant Chakravarti , Suparna Goswami  •  October 29, 2024

In this episode of Information Security Media Group's new monthly series, "Insights APAC," ISMG editors discuss the top cybersecurity developments in the region, including a mega breach of healthcare records in India and how experts are tacking fraud and money laundering in the Asia-Pacific.

Generative AI in Cybersecurity: A Mixed Bag

Suparna Goswami  •  October 29, 2024

Generative AI has shown some value in cybersecurity, but it hasn’t met early hopes for handling complex incident responses or providing precise recommendations. Analyst Allie Mellen discusses where AI fell short, why companies are deprioritizing it, and potential use cases in 2025.

Singapore Requires Banks, Telecoms to Prevent Scams

Suparna Goswami  •  October 25, 2024

Singapore regulators gave banks six months to institute real-time detection tools for blocking impersonation scams or else assume liability for stolen funds. A finalized framework published Thursday also shifts liability onto island-nation telecoms unless they block fraudulent SMS messages

Poor Security Practices Put Banks at Risk of Cyberthreats

Suparna Goswami  •  October 24, 2024

Despite heavy security investments, banks still struggle with basic security issues such as default passwords, vendor vulnerabilities and social engineering scams. Scott Weinberg, CEO of Neovera, shares a new report that shows banks of all sizes still grapple with these common risks.

Regulator Urges UK Banks to 'Help Foot the Bill' for Fraud

Suparna Goswami  •  October 22, 2024

While the U.K. Payment Systems Regulator is taking steps to ensure customers receive consistent treatment from banks, fraud protection still has inconsistencies. Several policies have been introduced to protect fraud victims, but consumers can't always count on them, said PSR’s Kate Fitzgerald.