Feb. 7, 2022 — Last week, the World Council of Credit Unions (WOCCU) shared a blog post highlighting the ways international standard-setting entities are now accelerating changes to digitalization policies “that are sure to be implemented by many national-level regulators”, stated in the WOCCU 2022 Global Regulatory Update for Credit Unions and Financial Cooperatives.
“Under the umbrella term of digitalization, we are seeing many policy changes in the areas of operational resilience or cybersecurity that are garnering attention from regulators,” reads the Update from World Council International Advocacy. “The ability to absorb operational risk-related events such as pandemics, cyber incidents, technology failures, and natural disasters has the attention of all regulators.”
To read World Council International Advocacy’s entire 2022 Global Regulatory Update, click here. You can also hear an interview about this year’s Update with World Council Senior Vice President of International Advocacy Andrew Price and World Council Assistant General Counsel of International Advocacy Panya Monford on Episode Nine of the Global Credit Union Podcast