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Update or adjust fraud detection systems, as necessary.


CONTROL ID
13684
CONTROL TYPE
Process or Activity
CLASSIFICATION
Corrective

SUPPORTING AND SUPPORTED CONTROLS



This Control directly supports the implied Control(s):
  • Implement a fraud detection system., CC ID: 13081

There are no implementation support Controls.


SELECTED AUTHORITY DOCUMENTS COMPLIED WITH



  • AIs should closely monitor trends and developments in emerging fraudulent techniques related to the use of e-banking channels, and regularly enhance or adjust their fraud monitoring systems whenever there is a need. During the process, AIs should take into account any fraud intelligence gathered fro… (§ 8.1.2, Hong Kong Monetary Authority Supervisory Policy Manual TM-E-1 Risk Management of E-Banking, v.2)
  • AIs should closely monitor trends and developments in emerging fraudulent techniques related to the use of e-banking channels, and regularly enhance or adjust their fraud monitoring systems and remediation process whenever there is a need. During the process, AIs should take into account any fraud i… (§ 8.1.2, Hong Kong Monetary Authority Supervisory Policy Manual TM-E-1 Risk Management of E-Banking, V.3)
  • AIs should assign sufficient designated staff with relevant expertise to promptly handle and respond to the alerts generated by their fraud monitoring mechanism if significant suspicious e-banking transactions or unusual activities are detected during or after office hours. AIs should also ensure th… (§ 8.1.3, Hong Kong Monetary Authority Supervisory Policy Manual TM-E-1 Risk Management of E-Banking, V.3)