Who are the Border Patrol chaplains? And why does the agency need more of them now?The currently trending phenomenon in the world of online media certainly revolves around the latest update of the highly anticipated game "Black Myth: Wukong," which has swiftly climbed its way to the top of the hottest search trends on the popular Chinese video sharing platform Bilibili. Gamers and fans alike have been eagerly awaiting this moment, as the game offers a unique and immersive experience inspired by the classic Chinese mythological tale of the Monkey King.
In conclusion, the partnership between Europe and China holds great potential for driving economic growth, fostering innovation, and building a more prosperous future for both regions. By embracing collaboration and cooperation, Europe can capitalize on the opportunities presented by its relationship with China and pave the way for a more resilient and dynamic economy in the years to come.Parna Sabet-Stephenson is the leader of Gowling WLG’s Financial Services and Technology (FSxT) Group. Whether they know it or not, an estimated nine million Canadians routinely share their private financial information through a process known as “screen scraping.” Under this practice, consumers relinquish their bank login details to any number of tech service providers – few of which are subject to Canadian banking regulations – granting them broad permission to harvest their financial data for use in their products and services (fintech apps or accounting software, for example). For years, major financial institutions and ambitious fintech companies alike have criticized the process. Fintech companies, especially, have been urging Ottawa to move decisively on a safer, more modern alternative – namely, a “consumer-driven banking” or “open banking” framework built on a secure application programming interface (API) to transmit confidential information. Such a framework promises to kick open the door to a new era of transparency, security and consumer control around the sharing of sensitive financial information. To be sure, it’s a door that’s already wide open in Australia, Brazil, Britain and throughout Europe, and soon will be in the United States, as all of these places have enacted varying degrees and types of open-banking frameworks in recent years. In the coming weeks, Canada is slated to finally follow suit, having pledged in its last federal budget to release its draft open-banking legislation before year-end. Many industry watchers hope and expect this would allow for the direct transmission of information to replace screen scraping, putting an end to a practice that, despite its myriad flaws, has fuelled a Canadian fintech ecosystem valued at more than US$300-billion. Recently The Logic reported that the federal government plans to go a step further, not just introducing open banking but actively cracking down on screen scraping in tandem. This dual-pronged approach is a no-brainer. This outdated and insecure method of data transmission needs to go in order to protect Canadians and our financial system, boost trust, and accelerate the adoption of open banking in Canada. But while the move to phase out screen scraping is great news, the real question is how – and how fast – Ottawa will make this transition as it rolls out open banking. Speaking at an event in Gowling WLG’s office in May, Julien Brazeau, an associate assistant deputy minister in the Finance Department and one of the architects behind Canada’s future open-banking legislation, signalled that if Ottawa goes down that path, it would be taking a thoughtful, gradual approach to phasing out screen scraping. But if this practice is indeed so fraught with privacy, cybersecurity and legal risks, why does Ottawa not insist on an outright ban from the start? There are a few important reasons for this. First, Canada’s open-banking legislation is expected to be narrow in scope initially, limited to only certain types of data – particularly those related to deposit accounts, payment products, investment products, lines of credit and mortgages. In addition, fintechs receiving these data will initially not be permitted to edit it on banks’ servers, which would prevent functionalities such as payment initiation or account creation. For products and services reliant on data or functionality outside that initial scope, pulling the screen-scraping rug out suddenly is certain to hamper innovation. It’s important, then, that Canada’s screen-scraping phase-out at least be in lockstep with the scope of open banking’s phase-in. Second, as Canada begins to cautiously test the waters of open banking, screen scraping still offers a viable safety net in the event this transition encounters unexpected challenges. For example, if newly implemented APIs are found to be vulnerable to data breaches or other security risks, screen scraping may provide a necessary temporary workaround. Finally, a very large question of accreditation looms over Ottawa’s strategy. In a preview into Canada’s consumer-driven banking strategy released as part of the federal budget, the government promised to include an accreditation process to “ensure that only those who meet certain requirements can participate in a data sharing ecosystem.” For the time being, it also ruled out tiered accreditation, which would impose varying requirements for different levels of access. Will the accreditation rules be too rigid or onerous? It remains to be seen. What is certain is that the approach to accreditation must lend itself to a strategic phase-out of screen scraping. If the compliance burden proves overbearing, it’s likely that many – particularly smaller players with fewer resources – may simply choose not to opt in, which would jeopardize the adoption of open banking in Canada. The success of open banking will ultimately depend on Ottawa’s ability to balance progress with pragmatism as it works to make screen scraping an obsolete practice.
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The significance of this occasion cannot be overstated. It represents a symbolic passing of the torch from one generation of Chinese footballers to the next, as a new player steps into the spotlight and showcases the progress and development of the sport in China. It is a testament to the dedication and effort of players, coaches, and organizations who have worked tirelessly to nurture and support talent within the country.Yoon Suk-yeol, who served as the President of South Korea from 2022 to 2027, has been at the center of numerous controversies throughout his tenure. Allegations of bribery, embezzlement, and influence peddling have plagued his administration, tarnishing his legacy and eroding public trust in the government. His inclusion on the arrest warrant list marks a significant escalation in the legal proceedings against him, signaling a potential turning point in the fight against corruption in South Korea.