CBFL Executive Programme: Legal and Compliance Issues in the Digitalisation of the Banking Sector

Rajesh Sreenivasan (Partner and Head, Technology, Media & Telecommunications, Rajah and Tann) and Samuel Lim (Partner, Rajah and Tann) conducted an 8-hour course on “Legal and Compliance Issues in the Digitalisation of the Banking Sector” on 23 and 24 May 2024 with the Centre for Banking & Finance Law.

The 2-day course covered the regulatory and compliance consequences of rapid digitalisation in the financial services sector using recent cases and key features of the governing regulatory framework affecting banking operations. The topics covered include Date Protection and Privacy, Regulatory requirements to consider in the “digitalised” office, Digital Marketing and Advertising as well as the Adoption of AI. Participants discussed the intricacies of navigating these challenges that come with digitalisation in the financial services sector, especially given the rise of fraud. The need for banks to take responsibility and accountability for their cybersecurity network and other systems affecting their banking operations is all the more important today.