Regulation Asia - Regulation Asia

The CBIRC (China Banking and Insurance Regulatory Commission) has fined Agricultural Bank of China CNY 4.2 million (USD 650,000) over poor data security management.


Published on Feb. 4th, 2021 Published on Feb. 4th, 2021

MSTAR comment

Several regulators have recently imposed fines for risk management failures. The MSTAR platform does not yet contain this scenario. Nevertheless, it can be considered as an intermediate risk between "Cyber" and "Conduct", as the fine relates to failures to protect customers.

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