Risk Management
MAS Advises Financial Institutions to Brace for Quantum Computing Cybersecurity Challenge
The Monetary Authority of Singapore (MAS) has issued a directive to the country's financial institutions, urging them to ready themselves for the increasing cybersecurity threats posed by quantum computing.
Cybersecurity remains number one risk for global banks
Source: EY
Amid unprecedented levels of volatility and global uncertainty, cybersecurity has remained at the top of the list of near-term risks for banks around the world for the second consecutive year, according to the latest EY and Institute of International Finance (IIF) bank risk management survey.
OCC's Fall 2023 Report Highlights Emerging Threats
In its Fall 2023 Semiannual Risk Perspective, the Office of the Comptroller of the Currency (OCC) emphasizes the importance of adaptive risk management strategies for financial institutions. The report covers key risk themes, highlighting the need for vigilance despite the overall robustness of the federal banking system.
LexisNexis Risk reports 20% annual increase in digital cyber attack rates
Source: LexisNexis Risk Solutions
LexisNexis Risk Solutions today released the results of its annual Cybercrime Report, an analysis of data from 79.8 billion transactions processed through its LexisNexis Digital Identity Network throughout 2022.
ECB Warns of Transition Risks in Banks' Shift to Low-Carbon Economy
The European Central Bank (ECB) has issued a warning regarding the significant transition risks faced by banks that are unprepared for the shift towards a low-carbon economy.
Acadia responds to EBA's new Regulatory Technical Standards
Source: Acadia
Acadia, a leading industry provider of integrated risk management services for the derivatives community, today offers its thoughts on the European Banking Authority (EBA) publishing its finalized Regulatory Technical Standards (RTS) on Initial Margin Model Validation.
Biden and Harris address AI regulation with BigTech CEOs
US President Joe Biden met with CEOs of several leading tech firms to discuss the dangers of rapid artificial intelligence (AI) adoption.
BaFin Report Highlights Cybersecurity and IT Outsourcing Risks in German Financial Sector
A recent report from German regulator BaFin underscores cybersecurity and the outsourcing of IT services as major threats to the financial sector.
Financial Regulator Urges Increased Investment to Tackle AI Risks and 'Deep Fake' Fraud
FCA head Nikhil Rathi has called on banks to increase their expenditure in order to counter the surge in AI and the menace of 'deep fake' fraud.
Themis releases supply chain risk assessment tool
Source: Themis
Themis has announced the release of its innovative supply chain risk assessment tool, which allows companies to map out high risk geographies and sectors and possible touch points from financial crimes including modern slavery and human trafficking, drugs, wildlife and arms and trafficking, bribery and corruption, fraud, money laundering and terrorist financing.
Banks underpricing exposure to climate risks - ECB
Source: European Central Bank
The European Central Bank (ECB) and the European Systemic Risk Board (ESRB) today published a joint report on the impact of climate change on the European Union (EU) financial system.
HSBC Launches AI-powered ESG Index to Measure Company Performance and Financial Returns
HSBC recently unveiled a new global Index that utilizes advanced technology to assess a company's ESG (Environmental, Social, and Governance) credentials and its potential for positive financial outcomes. Developed by Arabesque AI and powered by ESG Book's data, this Index aims to monitor the performance of over 1,000 globally traded company stocks that are expected to experience financial gains through enhancing their ESG risk.
SMEs across the US & Canada lack cybersecurity experts and incident response plans, according to Huntress
According to a recent report by Huntress, 99% of businesses in the United States and Canada are mid-sized businesses facing cybersecurity challenges. The report reveals that mid-sized businesses are struggling to implement basic cybersecurity measures, including incident response plans, security awareness training, and cyber insurance coverage.