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Discussion around current trends in regulations for banks globally
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Kyrylo Reitor Chief Marketing Officer at International Fintech Business
MSBs operating in Canada are facing significant regulatory changes. According to a recent notice from Approved MSB Services, the Bank of Canada has introduced new regulations under the Retail Payment Activities Act (RPAA), requiring all MSBs to register within a specified timeframe. This regulatory overhaul is part of a broader global trend aimed ...
8 hours /regulation /wholesale
Ilona Cohen Chief Legal and Policy Officer at HackerOne
Over the last few years, the financial industry has been tightening the rules to counter growing cybersecurity threats. Sensitive credit and payment card data are naturally a top target of cyber criminals and therefore a priority for security efforts, especially as the cost of data breaches rises to an average of $4.88 million. This is where the...
28 October 2024 /security /regulation
In the European Union, the regulation of electronic money (e-money) is a critical topic that bridges the gap between technological innovation and financial security. The legal framework primarily governing e-money in the EU is the Second Electronic Money Directive (EMD2), which was adopted in 2009 and implemented by Member States in 2011. This dir...
09 October 2024 /security /regulation
Anna Antimiichuk Head of Communications, PhD at Corlytics
With only three months remaining until the implementation date, AFME brings to the light DORA-readiness after the transition period The implementation of DORA – the Digital Operational Resilience Act that’s looming on the horizon – is being viewed as a significant operational uplift by all market participants, one of the AFME's panel discussio
02 October 2024 /regulation /markets
Adam Preis Global Strategist at Ping Identity
The UK’s financial regulatory landscape is known for its comprehensive oversight, securing consumer interests and rights, and focus on maintaining fair, competitive markets. While the country’s financial rules aim to protect consumers and ensure market stability, they also emphasise innovation, particularly in the post-Brexit era. Central to this ...
25 September 2024 /regulation /identity
Srinathprasanna Neelagiri Chettiyar Shanmugam Manager - Banking and Financial Services at Aspire Systems
Welcome back to my blog series on DORA regulation !!! In this blog, I will dive into the specific topic of Threat-Led Penetration Testing (TLPT). Key Players in the TLPT Ecosystem: Understanding the roles involved in TLPT is crucial. Here’s a quick rundown: Red Team: These are the attackers in the simulation, employing tactics, techniques, and pro...
11 June 2024 /security /regulation
Joris Lochy Product Manager at Intix | Co-founder at Capilever
Digital threats top the agenda for every Chief Information Officer (CIO), especially in the Financial Services industry, where the consequences of breaches can be catastrophic. As financial services increasingly rely on IT tools and systems, any digital disruption can have profound impacts not only on the institution itself but on the broader econ...
21 May 2024 /security /crime
Martin Bradbury Regional Director, Financial Services UK&I at Dynatrace
Financial services providers are essential for the modern world, supplying the systems critical to the flow of business. Ensuring these systems are resilient and available 24/7 is vital to upholding customer trust, driving business continuity, and maintaining regulatory compliance. The Digital Operational Resilience Act (DORA), a European Union (...
20 May 2024 /security /regulation
Yogendra Singh Vice President, Global Head, Solution Consulting at Oracle
Introduction: The Basel III regulatory framework, developed post-2008 financial crisis, aimed to fortify the global banking system. As discussions around the Basel end game intensify, regulators, central banks, and financial institutions are navigating the path forward for banking regulation. This article delves into the intricacies of the Basel e...
10 April 2024 /regulation /predictions
Financial crime continues to be a major issue, undermining the trust and safety of global financial systems. The United Nations estimates that a staggering 2 to 5% of global GDP, or between EUR 715 billion and 1.87 trillion, is laundered each year. Moreover, about 50% of companies worldwide have experienced fraud in the last two years, underscorin...
18 March 2024 /regulation /crime
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