WELLINGTON, July 19 (Reuters) - The Reserve Bank of New Zealand has considered more regulation aimed at fighting cyber crime, which poses a “significant threat” to the global financial system, but it will not introduce them at this stage, the head of prudential supervision said.
“We doubt that prescriptive regulations would appreciably improve the outcome, when the technology and threat landscape are both changing so rapidly,” Toby Fiennes said in a speech on Wednesday. “We will, however, review this policy stance from time-to-time to ensure that it remains appropriate.”
Reporting by Ana Nicolaci da Costa in Wellington and Wayne Cole in Sydney; Editing by Leslie Adler
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